I wanna build a portfolio that will go beyond just me but for my future family.How did you finance this deal?

No matter how well you plan to build up your reserves it just takes a while to build them up in the real world.

I would love to hear any feedback on if anyone has done the new-build route in this area.  

This sounds like a good excuse to start learning how credit works and start building some.

Building wealth through real estate is a long game and is one of the few places you can build wealth using leverage. 

In the Bay Area in CA, I have an existing Sec 8 tenant, and did inspections for a new building I bought recently.

Meet other investors, learn market trends, start to build a team and keep absorbing knowledge.

This is definitely one of the best ways to build wealth, I wish I had put more into this rather than stocks at an earlier age. 

I am looking to purchase an SRO building in New York.

The seller should have sent a letter naming you as the new owner and informing them of the pending transaction.Here's the letter I use as the buyer, which should complement the seller's letter:Dear (tenant):We are excited to announce that our company is in the final stages of purchasing the building within which you reside, and I’ll begin managing the property on August 12, 2022.