Inherited 28 unit portfolio

Multi-Family and Apartment Investing
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Inherited 28 unit portfolio

Jacob S.Pro Member
Member since 2025 · 4 posts · 1 vote

Hey guys,

first time posting here. I hope I can get some insight on what to do. I was fortunate enough to inherit a 21 unit multi family building. A 5 unit multi family and a duplex plus my dad's house. All of these assets are paid off. I know there's a way to leverage this into some healthy growth.  Just wondering if anyone has an recommendations on reliable resources 

thanks in advance 

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Account Closed
Rental Property Investor · New Braunfels, TX · Member since 2022 · 409 posts · 408 votes
1y
Quote from @Jacob S.:

Hey guys,

first time posting here. I hope I can get some insight on what to do. I was fortunate enough to inherit a 21 unit multi family building. A 5 unit multi family and a duplex plus my dad's house. All of these assets are paid off. I know there's a way to leverage this into some healthy growth.  Just wondering if anyone has an recommendations on reliable resources 

thanks in advance 

29 rentals if they are at full occupancy, depending where they are located, should be great cash flow. At $500/mo per door you would have $175,000 cash flow in a year before operating expenses. At $1,500/mo per door you would be over $500,000. Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor. Your Dad left you a blessing, don’t let a con artist turn it into a scam. Best of luck!
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  • Ernesto Garcia
    Lender · Long Beach, CA · Member since 2019 · 67 posts · 15 votes
    1y

    Hey Jacob, do you plan on expanding the portfolio? Lets connect! 

    0Reply
  • Jacob S.Pro Member
    OP
    Member since 2025 · 4 posts · 1 vote
    1y
    Quote from @Ernesto Garcia:

    Hey Jacob, do you plan on expanding the portfolio? Lets connect! 


     I am not opposed 

    0Reply
  • Account Closed
    Rental Property Investor · New Braunfels, TX · Member since 2022 · 409 posts · 408 votes
    1y
    Quote from @Jacob S.:

    Hey guys,

    first time posting here. I hope I can get some insight on what to do. I was fortunate enough to inherit a 21 unit multi family building. A 5 unit multi family and a duplex plus my dad's house. All of these assets are paid off. I know there's a way to leverage this into some healthy growth.  Just wondering if anyone has an recommendations on reliable resources 

    thanks in advance 

    29 rentals if they are at full occupancy, depending where they are located, should be great cash flow. At $500/mo per door you would have $175,000 cash flow in a year before operating expenses. At $1,500/mo per door you would be over $500,000. Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor. Your Dad left you a blessing, don’t let a con artist turn it into a scam. Best of luck!
    2Reply
  • Ray Lin
    Rental Property Investor · MS · Member since 2018 · 68 posts · 47 votes
    1y

    Don't be greedy and try to leverage your portfolio. Slowly and surely, you will make a lot money. Remember to save some money for capital repairs. The roof, AC, plumbing, electrical and flooring will eventually need replacements. Since your homes are free and clear, keep them that way. When you save up enough capital, slowly increase your portfolio.

    1Reply
  • Robert Rixer
    Investor · Miami, FL · Member since 2015 · 355 posts · 268 votes
    1y

    Cost of capital is high right now. You don't want to cash-out refi and then be sitting on cash costing you 7% while you search for a deal. Based on the info in your post, my recommendation would be to turn these assets into well oiled machines and max out their NOI. Then if/when another good deal comes up, you can approach a lender and look at leveraging either of the properties in order to fund the down payment of the new property. But not a moment before.

    0Reply
  • Brittany MinocchiBusiness Member
    Lender · Massillon, OH · Member since 2022 · 1k+ posts · 486 votes
    1y

    My suggestion if your goal is to free up some equity to use for another purchase - start small with the single family home with a cash out refinance. If you can rent it for enough to cover the principal, interest, taxes and insurance and still put money in your pocket, plus cash flow on the property you're purchasing, that would be ideal. Not to mention, you're adding an appreciating asset to your portfolio. 

    [email protected]330-354-6590
    Brittany Minocchi - Barrett Financial Group, LLC520 Reviews
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