Investor · Chicago Suburbs · Member since 2017 · 73 posts · 17 votes
Hello,
I've been able to purchase 10 units in the last 3 years, and am now wanting to take my investing to the next level and buy a 6-12 unit property but don't have a good network of investors who have done this before. All I know is from listing to the BP podcast and reading books. Let me know if you have been able to scale up larger than I have, and would be generous to hop on a phone call or meet up for lunch/beer sometime! I live in Willow Springs, IL but would be willing to drive pretty far to learn from someone. Thank you! Danny Ondik
The process is similar. The main thing is finding a good deal. MFH generally sell for high prices. You find one for a good price and buy with a commercial loan. One difference will be that you may not be able to refi for a couple years, until the property has "stabilized".
My cause for hesitation is having the systems in place like do I need separate LLC's, how do I know if a property manager is worth the price, how do a leverage to get good lawn care deals and repair deals, how do I automate everything so that scaling up doesn't overload my time. I'm curious to learn how other people are able to set this up and manage it all.
Joe - yes, all 10 are cash flow possessive. (3) duplexes, and (1) fourplex.