Moving from minors to majors.
Good morning BPer's.
I'm an investor and entrepreneur based in NH.
Currently I have 5 investment properties with 7 units - all acquired in 2015. These were a mix of moderate to severely distressed properties which required rehab before returning to market. Rehab costs range from 20% of purchase price to 75%+.
I'm actively seeking acquisitions but I'm trying to prepare for inevitable capital shortfall as both long and short term projects unfold.
While I realize there are a myriad of creative ways to acquire both property and capital, I was interested in some real world examples of how folks, preferably in seacoast NH or the vicinity, made similar jumps from <10 units to 10,20,50 units?
I'm not a lone wolf. I started my business by putting a team in place so I can scale, both on rentals and flips.
I'm interested in pool acquisitions and projects which will result in more units to market in the same timeframe, and may include taking on assets that are occupied but may benefit from improvement and rate adjustment.
Any feedback or guidance welcome!
Thanks,
Anthony