I am a note broker and investor and  I'm excited to join BiggerPockets to learn more about the industry as well provide my help in anyway that I can!!!

I am currently a commercial Superintentdent building mostly large box retail from 100,000 - 1,000,000 SF projects nationwideI have extensive construction experience but little rental experience.

I share the details here to show what a series of small low-risk transactions can do over the medium and long term to build passive income for retirement.The PA is for a 1 BR condominium unit in a 150 unit complex where we already have 22 units, bought in 3 earlier transactions.  

Now if you build from the ground up or do a value add lease up with vacancy you can get a higher cap rate.The ones that are already stable in great area the owners will  not let go at a really high cap they will just keep the cash flow then eliminate their equity gain from buying 4 years ago.

In order to build wealth and make money work hard for me,I am thinking about how to use the equity I build.After I purchase the property,if the refinance LTV ratio is 70%,the value of property should increase about 40% to refinance all the capital invested in the property.And if the property appreciation compound annual 10%,it need take more than 3 years to get 40% increase.If the property does not appreciate a lot,the refinance does not worth it at all.So I need to use the capital I invested in the property more than once,I need to choose the property which has al lot of property appreciation.Anything wrong about my math?

Background in building and owned prop mgmt company.

Realizing the scarcity (or at least my perceived scarcity) of ideal rental properties in the Jersey Shore/Central Jersey area, I thought, if I can not buy it - why not build it?

This would be a new kind of buy for me, which gets me real pumped up. (It's actually a property that I've eyed for a couple years, just daydreaming, & reached out to the owner llc during that time but never heard ...

The other at $180k, is in an area where new builds are selling for $300k plus, and are actually selling.

How can i get strated investingin commercial apartment buildings?