It's been a great run building my SFR portfolio but officially on the market. I will say that I have a much better appreciation for single family home investing than I did before I started getting serious about multi-family. But I'm ready to make the shift and think there is some substantial growth potential.
@Tony Castronovo - what made you want to switch strategies?
Hi @Andrew Kerr . I need to scale more quickly. I really like the diversification and risk profile my SFR portfolio investing has brought. And the cash flow and returns are great. I have also learned a lot about systems and processes from financing and acquisition to rehab to tenant screening to property management and so on. I am ready to take these processes to a larger scale operation.
@Tony Castronovo That's great to hear. We talked like 9 months ago and you really want to get in to MF market. Good luck!! Let me know.
Thanks @Vijaianand Thirnageswaram! There is a bit of anxiety as I feel I have gotten pretty good at the SFR side of things. I have very good systems and processes and have built a good business from SFR buy & hold investing. There are pros and cons to MF and I feel I am making a good decision. But it will be a new challenge for sure!
Good luck! Keep us posted on how it goes.
Do you plan on getting rid of all of your SFHs and completely converting to MFH, or maybe holding onto a couple of your best properties while you go in the new direction?
Thanks @Thomas Shaw ! While I would like to keep my best performers I am trying to go as big as I can on the MF side. I am currently under contract on the full lot.
That's really awesome @Tony Castronovo . I'm sure it's a little scary to pull the trigger on such a huge change in investment strategy. But if you handle the MFH as well as you have the SFH, I'm sure you'll do well.
Good luck to you, @Tony Castronovo