Is it time to move from residential to commercial?
We have a total of 3 building’s, encompassing 14 rental units. I’m debating transitioning into developing a larger 15 to 20 unit complex. Wondering what next steps for strategy could be? There is a grant program that I’ve worked before on a much smaller scale, so that’s an option. The more concerning/appropriate considerations are, do I need to sell our current buildings and do a 1031 Exchange? Can you even do that with development? I’ve owned my own property management and passive income investment company for over 23 years, but only for myself. I was told that investment companies would provide lower interest rates and very little down simply due to the age/good standing of the company/credit? Looking for advice/options and overall general strategy based around the considerations