Assuming this is primarily in regards to multi-family commercial deals?
Any advise how to get there? I'm just a regular beginner, who has 6 sfh properties, built this small portfolio using brrrr here in Atlantic Canada. But I'd love to scale this business up. Seems unreal at the moment tbh
It is, but it could also be applied on a smaller scale. The issue with going outside of your local market is economies of scale. I’ve been in multiple situations outside of my local market where if I wasn’t thoroughly involved, I would’ve lost my shirt. You will never be as efficient as you are locally then you are out of town unless you are able to, leverage a team of people on the ground locally to where the property is. Further, a real estate portfolio takes time, especially if you’re using your own money. The way that I was able to do it quickly by using my own money and living far below, my means while continuing to invest the excess capital.
Assuming this is primarily in regards to multi-family commercial deals?
Any advise how to get there? I'm just a regular beginner, who has 6 sfh properties, built this small portfolio using brrrr here in Atlantic Canada. But I'd love to scale this business up. Seems unreal at the moment tbh
It is, but it could also be applied on a smaller scale. The issue with going outside of your local market is economies of scale. I’ve been in multiple situations outside of my local market where if I wasn’t thoroughly involved, I would’ve lost my shirt. You will never be as efficient as you are locally then you are out of town unless you are able to, leverage a team of people on the ground locally to where the property is. Further, a real estate portfolio takes time, especially if you’re using your own money. The way that I was able to do it quickly by using my own money and living far below, my means while continuing to invest the excess capital.