Trying to go to the next level
I am liquidating a couple of properties in Pittsburgh PA and will be utilizing a 1031 exchange. I currently live in MO. I believe that Plano TX although is a high priced market, might be an area that I could build a multifamily complex. I am not starting with a lot of money ($100,000 - which could be leveraged more), but I am thinking I would like to find a couple of like minded individuals (create a mastermind type group) who would like to explore somehow combining our money together to build a decent size apartment community (20~30 units, 3/2) in the Plano Texas area. I am just starting to explore this area, but find it very intriguing based on information I have read. I am looking to create appreciating equity as well as cash flow. Please let me know your thoughts, how this idea can be achieved and who might be interested in this venture.