Multi family, how long?

[Account Closed]

who only invest in multi family? Do you have any building in Southern California? If not, where? How long did it take you to get to what you have?

Thanks

Al

[Joe Hughis]

@Account Closed I have worked with many clients who were primarily Multi-Family owners. Some own thousands of units in Southern California. May of the folks I worked with who own large numbers of units, started in the 80's. A couple common patterns I realized is that those owners typically bought properties that were the type of property (and in locations) that they wanted to hold for a while. They put in large down payments, kept the debt low, and conservatively borrowed against it when they saw another MF property they liked become available...often times those other properties would be relatively close to their existing properties. They may not have gotten the lowest price at time or had the lowest interest rate but with low LTV's, their properties were always profitable. They steadily followed this process and now have a solid real estate empire.