Desiring to Grow into Multifamily - Seeking Experienced Investor/Mentor

[Breanna Green]

Hi Biggerpockets!

I'm seeking some advice/mentor. Before you scoff because that's what everyone wants (understandably) and I realize there's no such thing as a free lunch here's the BLUF:

I've invested in five single family/condo properties over the last decade. I'm very methodical and successful albeit this game is always a mix of skill and luck. I want a tenured professional to help me with my portfolio and analyze my next move. I'm desiring a multifamily, maybe a duplex or fourplex in San Diego, CA concentrating in Mission or Pacific Beach or a multifamily (5+ units) in the area or Scottsdale, AZ. I plan to sell my beach house for $1.4M give or take and complete a 1031 exchange, almost 100% equity in the property. (Too long to explain but it's a great property however it's an HOA with two people, myself and my neighbor split 50/50 and they have ignored my requests to provide official documentation on where the HOA funds of $300/month are spent and unless I can buy them out, which I tried unsuccessfully, they or whoever is next will constantly be a thorn in my side with this ridiculous "HOA" setup).

- Do I complete an all cash 1031 transaction for a smaller place like a duplex in Mission or Pacific Beach? 

- Fourplex with decent equity? Go for the 5+ unit complex and have a commercial loan? 

- Take out a HELOC in another property (paid off and worth ~$700k)?

- Basically what would you do and why? 

Uncertain about "putting all my eggs in one basket here" but I know some risk needs to be taken in order to grow. Looking for lessons learned here.

(More detailed questions for anyone interested: Do you have anyone I could connect with wrt commercial realtor, mentor - someone who has or had a multifamily, and/or excellent loan officer? Who have you used to purchase all your properties and due to potential numerous sales over the years did you receive any kickback or discount on commissions? I may look into obtaining my RE license and sell my $1.4M property could save me $50k+ just in the one transaction - better to network and get a deal with an agent or worth my time? I'm initially thinking Class B with room for improvements, how do I find a decent contractor? Who have you used for inspection, assuming a qualified structural engineer is someone to consider for a large property purchase? Potential pitfalls to avoid? Success stories?)

I'll be in SD end of May to scope out the neighborhood since I haven't lived there in years (visited many times and just purchased a 1/1 in Hillcrest in October 2024). Born and raised in Scottsdale, visit frequently, so know the market there as well but not multifamily options.

Thank you!!

[Rodrigo Serzedello]

Hello @Breanna Green !

You asked some great questions, and I’d be happy to share my perspective on a few of them. I’m an out-of-state real estate investor focused on single-family homes and duplexes in the Midwest, and I’m also a licensed local agent here in San Diego. In addition, I serve as a mentor on a website (that I cannot post here because of the policies), where I help others navigate and strategize their real estate journeys.

Do I have all the answers? Maybe not—but I’m fortunate to be part of a strong network here in San Diego. Through my connections with Keller Williams, as well as trusted vendors, lenders, contractors, and wholesalers, I can help point you in the right direction and ensure you’re supported with the right people and information.

If you’re open to it, I’d be happy to meet in person this May at my office in Del Mar. We can talk through your goals and what you’re hoping to accomplish in the San Diego market. From there, we can explore strategies and run numbers on properties that align with your objectives.

Feel free to DM me if you’d like to connect.

Cheers!