Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
I have bought SFR only thus far and made a-lot progress in my opinion. I see folks recommending MF books, training and etc and tooting MF. The best I can tell 9.99% of the folks talking about MF have NEVER DONE IT Themselves with MF.
Why recommend a book or training, etc if it never produced and results other than motivational information? If the teachings were so clear why no results?
It would be good to hear from some first generation real estate investors that actually has done MF themselves. I noticed some extra young looking person say (they) had a 89 unit MF. Is (they) them and their spouse or them and their rich dad that had been investing for years before the son took credit or is they an investment pool where the person talking big only contributed a very small part?
I’m not trying to be negative, because I really do want to move into MF. I think it would be clarifying if more people that says, “buy MF” where ask if they themselves had bought one.
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
7y
Joel:
I've invested in 9 apartments passively and my wife and I are syndicators of a 24-unit and a 272-unit property. None of my family were real estate investors.
I recommend you check out Lifestyles Unlimited. They have excellent training in both single family and multi family investing. After we discovered the organization, it turbocharged our SF returns and eventually led us to multi family investing.
Plus, you are lucky enough to live in Texas. They have three large physical offices in Texas, one in your back yard. My wife have been flying down to Texas 3-4 times per year since 2012 to attend events put on by Lifestyles. They've been around 29 years and have 40,000 members.
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
7y
Joel:
I've invested in 9 apartments passively and my wife and I are syndicators of a 24-unit and a 272-unit property. None of my family were real estate investors.
I recommend you check out Lifestyles Unlimited. They have excellent training in both single family and multi family investing. After we discovered the organization, it turbocharged our SF returns and eventually led us to multi family investing.
Plus, you are lucky enough to live in Texas. They have three large physical offices in Texas, one in your back yard. My wife have been flying down to Texas 3-4 times per year since 2012 to attend events put on by Lifestyles. They've been around 29 years and have 40,000 members.
Fort Bragg, NC · Member since 2019 · 2 posts · 1 vote
7y
@Gregg Scott
I happened to be randomly browsing BP forums, trying to increase my knowledge base, and checked out the reference to Lifestyles Unlimited. This is phenomenal.. considering my wife is starting the process of earning her real estate License, and we both desire to move to Texas eventually. I'm new to BiggerPockets, but I can instantly make the connection as to how powerful the networking is. Anyways, thanks for the link!!
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
7y
Joel:
There are people that do that, but it is not everyone's goal.
Apartments definitely have an economies of scale. We spend just as much time managing our 24 unit as we do our 272 unit properties. Guess which one gives us the bigger ROI on our time? (This is not a trick question. Today we went over to our 24 unit and were picking up garbage, throwing the "donated couches" into the dumpster and making minor repairs. Those are not high-value tasks but they need to be done and it is hard to find part-timers to do that work cost-effectively.)
At this time, there is no way we could afford to buy a 200+ unit on my own. We don't have that kind of capital. On the other hand, we could afford to buy a 24 unit as an Independent Rental Owner (IRO). But, we prefer to manage staff and investors in a big property than to have to manage the day to day minutia of a small property. Other people prefer the day-to-day small property lifestyle and don't want to deal with investors.
Our goal is to continue buying big properties and growing our wealth until we have the option of being an IRO on a large property.