How Did You Locate Your Last Multifamily? How Many Units Was It?

[Brandon Sturgill]

I have a two-year goal to buy a commercial property with 30 or more units...I am int the early stages of planning now and could use some wisdom from those of you that have done this before.

[Brian Adams]

@Brandon Sturgill, my last deal was 200+ units and located by sending letters to owners of apartment buildings.

I was very specific in my marketing on the type of asset I wanted to buy.

Here are some tips and things to consider as you move towards buying your 30 unit deal:

• Get very clear on the type of property you want to buy
• Where is it located
• What is your exit strategy
• How are you going to finance
• Do you need to raise private money
• How much private money
• Who will be your loan sponsor
• How are you going to manage - self manage or third party
• Build your team - real estate broker, real estate attorney, SEC attorney, title, insurance, contractor, management company

Finally, I say this all the time to my students, is that you will do the same amount of work to purchase a 30 unit deal as you will do on a 100 unit deal. The difference is when you buy larger properties is that you are spreading the operating costs across more doors and this helps to reduce your overall investment risk.

Good luck!!