She's out of my league

[Chandler Calvert]

While the heading may be a bit misleading it's not entirely out of place. My brother and I are fairly new to real estate investing. We have a little over two years and 7 properties in our portfolio we have, 4 single family, 1 small commercial and a 1 acre lot we just acquired. What it all boils down to is there is a building...a very large multi unit building in our town for sale and I want to know how investors such as me acquire an investment property in the $2+ million dollar range. How do you take that step and go from a few small houses to that? I'm a risk taker and have never had any financial backing but I'm looking for creative ideas in which I could grow my company to that league? Hence the heading "She's out of my league" this building feels out of my league but I still think that mindset will hold you back. So I'm asking how do I get to that league? The price to build around here right now is around $150-$175 a sq. ft. This building is $84 sq ft., 6.28 Acre, 22,334 sq ft, and has around 11 units that I can tell from the street.

[Mike Nelson]

One option is to wait until you have enough equity in your existing properties and either sell or refinance - this option takes patience.