Also, the ability to find good deals with an accurate budget to complete the project up front from some good project managers/general contractors.

The #1 determinant is the Tenant Pool.If you don't believe us, try putting several Class D tenants in Class A apartment buildings and watch what happens.

I'm just beginning but am considering a bigger commitment in the next five years or so by accessing some or even all retirement funds to buy a building (I'm sure people have thoughts on whether or not that is a good idea!).

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.

Quote from @Theodore Sutton: Check out the site meetup.com and also the events page on BP for meetings up in your area to meet people like this and build relationships.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

hey hunter, best of luck on your journey. make sure to go to all networking events in the area and possibly even starting your own to start building footprint in the area.

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

This includes structural components of the building.

Having a solid team around you like agent, lender, contractors etc.