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Updated over 3 years ago on . Most recent reply

Build-to-Rent vs Buy distressed properties, value-add, refi, hold
Hey guys,
We flip and BRRR houses right now. Our company is growing. My project manager is a killer. We've raised a ton of capital.
I feel we need to level up. Definitely in the commercial arena.
There's something sexy about developing and holding but I know it's a long-term process. But at the same time, I know it's an invaluable skill.
I see many real estate investors that are buying distressed apartments/MHP/commercial and BRRRing them at a super fast pace. But at the same time, making sense of BRRRing in the Phoenix market is quite difficult to make sense of syndicating and giving a out a pref.
What I don't want to do is to start investing in other markets. I wish to keep it local.
So my question is, if I wished to build a commercial portfolio local to Phoenix, would it make more sense to BRRR a new build or to buy used?