Newish investor thinking about expanding
Hi all, excited to be here!
For the last 5 years I've owned a commercial space rented NNN. Has been extremely hands off other than a switch of tenants and reconciliation each year. I don't have great cash flow but at least I'm paying down a mortgage for free.
I just renewed the loan on the building and it got me thinking about expanding. However I can't find any good CRE deals in my small town. Considering doing a cash out refinance and moving into residential, but not sure I have it in me to be semi "on call" all the time.
Most Popular Reply
Hey @Catherine Clare
What Luran said above. You will need to " manage the manager " with single family, but having a great property management team takes a lot of the stress off of your back. What market are you looking to get started with single family properties in? I work with a lot of out of state investors that are building their rental business in Memphis and building a team is something we highly recommend doing as you get started. It's the only way to make it work long term.
Best of luck!