Updated about 6 years ago on . Most recent reply
Getting into Commercial Real Estate
Hello everyone. I am new to BP and to investing in general. I am currently an Active Duty Army Officer in the Fayetteville, NC, area. I want to get into building apartments for when/if I get out of the military. I have no idea how to get financing but have read a decent amount on how to get the ball rolling once you have the money worked out. How does the average person go from owning just a house and vehicles to taking a step as large as the idea I am talking about? Any advice helps!
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
@Brandon Fitz it takes a lot of capital and expertise to develop ground up if that’s what you mean.
You have to either work your way up starting with smaller projects or partner with an experienced developer by bringing significant capital or land into the deal that you own or control.
The best thing to do is to start with buying existing assets and grow from there. Keep educating yourself and start as big as you can with the resources you have.
Check out https://joefairless.com/ for some great resources and the best book on the market for apartment investing.
Another great resource is https://www.activedutypassiveincome.com/