Apartment building acquisition strategy

[Jabari Marshall]

HI BP fam, I've always dreamed of owning an apartment building.  I'm a new investor.  I currently have a duplex and have been saving my 20-25% for my next acquisition which would have most likely been a triplex or quad.  I've been going about it the safe and slow way, but I've realized in order to get what I really want(apartment building) I'm going to need a lot more money.

Ive flirted back and forth with hard money but I am reconsidering it now BUT I'm also considering a joint venture entity. The people that I know with apartment buildings have all had partners at some time or another.  I wanted to know which strategy do you guys think is my best option and whats the best and smartest way to go about attaining it?

I just moved into my duplex a year and a half ago.  I have some money saved not much, but I have excellent credit.  I was thinking about a 5-15 unit building.  Despite me only having a duplex and not having a lot of skin in the game.  I know it is achievable, I just need to know the best way to achieve it, giving my circumstances

[Mike Dymski]

Check out Michael Blank's podcast and site.  He focuses on apartments and specifically raising capital for them.  You are also going to need to foster relationships with lenders.  Michael addresses that as well and Jake and Gino have podcasts and a website that get into their credibility book that is used for lenders (and other service providers).  Old Capital Lending has good podcasts that provide exposure to commercial lending and apartment investing on a larger scale and they have a few guests that started off smaller or as passive investors in other's deals.  Rod Khleif and Kevin Bupp's podcasts on apartments are very good too.

Search through the BP podcasts for the apartment ones.  I listened to one early this morning, #84 with Chad Carson, that was excellent.  It was not on apartments but he discussed how he works with private lenders.

All this information provides a decent foundation from which you can begin to take action.  Hope this helps.  Good luck with your dreams.