Alternatives to multi-family?

[Mike B.]

My sister and I are looking to JV in 2021 to purchase a value add CRE property. Originally, we were looking solely at MF, and while we're still pursuing that asset class we've been researching more about the other areas of CRE, such as self storage and light industrial. We'd like to stay within the commercial space, as we can see the power of the CRE valuation method coupled with a value add strategy, but would love to hear some feedback about non MF opportunities. As we know, the multi family space is intensely competitive and pretty crowded, so I was wondering if there are any other niches out there that folks have been able find success in

[Michael Wagner]

I'd encourage you to take a very CLOSE look at storage!  Its not for everybody but if it does jive with your objectives, I don't think there is a more efficient wealth building asset on the planet.  Especially when you talk about deploying a value add strategy.  The income to expense ratio and lien laws (vs. eviction) create an added margin of error that other asset classes simply can't match.  That's why storage loans default less often than any other loan! Its incredibly forgiving and very profitable so it makes a great 'first" commercial property for many!