That junky old house was the first piece of true investment real estate we ever bought. That property kicked off the journey that four and a half years later led us to the purchase of a multimillion-dollar apartment complex.

How did I buy a multi-million dollar apartment complex?

With my brother’s degree in Economics with a focus in real estate, our third partner’s Masters in Accounting and his CPA, and my degree in Marketing, paired with our strong experience in real estate and construction, we came the conclusion that the following points were the general guidelines of what we were looking for in a multifamily asset.

Why is selling a multi family home more complex?

One of the top reasons why selling a multi-family is generally more complex is because it typically involves more people than just the one owner of a single family home. When selling a multi-family property the probability that you’re involving 6-12 people is high.

What kind of property is an apartment complex?

Modern apartment complexes are typically luxury properties built in the last 10 years, the so-called Class “A” properties. These properties have numerous amenities, including tennis courts, swimming pools and clubhouses. On the other hand, Class “B” properties are up to 20 years old, well-constructed, and with some Class “A” amenities.

What was the first house I ever bought?

A few years back, my brother and I walked into a ugly house built in the 1800s that had an obsolete floor plan and over a century of deferred maintenance. That junky old house was the first piece of true investment real estate we ever bought.

How many apartment complexes do fix and flip own?

Pair that with 17 fix and flip properties, and we were fortunate to have the ability to pursue our larger goal of buying apartment complexes while also maintaining our existing portfolio. To get to this point was hard!