Transitioning from Home Flipper to Multifamily Investor

[Charles Carillo]

Jimmy Edwards is a multifamily investor who currently controls 570 units. He became interested in real estate investing when one of his professors got him to read “Rich Dad, Poor Dad” and that it “pretty much exploded his brain.”
After college graduation in 2013, he started with single-family investing and became a house flipper. It wasn’t until 2016 when he decided to scale the business and that is when he stumbled across multi-family investing, scalability and forced appreciation.
When he started with single family investing in 2013, it was about finding distressed properties, rehabbing, and flipping them. He had a few partners but he then met his current partner Katherine, who was married to a friend of his. She had a background in construction and she managed the rehab process after he found the deal. One time Jimmy remembered that he had a single-family house that sat on the market for months and the interest ate up their profits. He realized that with multifamily properties; you are still receiving cashflow; even when selling a property. In 2017, he started to focus entirely on multifamily investing.
Jimmy recommends that investors know their strengths and find other partners who excel where they fall short. You can learn more about Jimmy and his team here: highfivemultifamily.com.

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