Skipping to Commercial Buying

[Jack Davis]

BP, I'd like to get your advice on a first-time investor skipping small multi-family properties and purchasing commercial housing buildings. Would your thoughts be to "Go for it!" or "Start small" & why?  Additionally, without a track record, is one likely to find funding from conventional lenders? I have great credit, a good amount of funding and intend to make use of local professionals for day-to-day responsibilities.

My thinking is to make the most of my time/leverage and find a B/C+ building with 12-15 units within my budget. As I currently live in SoCal, I intend to locate a Mgmt Co to handle day-to-day responsibilities (possibly existing management). What are your thoughts?

[Larry Caper]

@Wiley Strahan Unfortunately, I do not have a one point-of-reference. Often times, when I'm researching and listening to podcasts, they host or guest mentions how they financed a recent or present deal. From there I take notes and do my homework to further understand the granular details behind the strategy. As you may have realized, there's a ton of information out there, but it's not all quality. Here are a few quality resources I've benefited from: 

Podcasts: 

• Lifetime Cashflow through Real Estate Investing, Rod Khleif
• Wheelbarrow Profits, Jake and Gino
• The Commit to Wealth Podcast, Juan Vargas
• Best Real Estate Investing Advice, Joe Fairless

Books: 

• The Millionaire Real Estate Investor by Gary Keller
• The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
• How to Take an Apartment Building from Money Pit to Money Maker by Craig Haskell

YouTube: 

• Grant Cardone (Big personality, but there's truth in what he's saying)
• Peter Harris and Commercial Property Advisors (Older channel, but still relevant)

Industry Trends/News:

• Multifamily Executive Magazine
• Bisnow