All Forum Posts by: Steven Nguyen

Hello BP Community,

I've been told the sweet spot of multi-family investing is between 30-100 units.  Under 100 units, you are not competing against the large syndicators, but above 30 units provides enough cash flow and value add to potentially retire from your W-2 job.  Owners of 30-100 units are typically mom and pop and I've noticed lots of them are starting to retire and their kids want nothing to do with the property.

I see this is a potential opportunity to get my feet wet in multi-family investing to start building my "resume."  Has anyone found any success in this sweet spot and how did you find your properties?

Thank you.

Steven

Hello Ijeoma,

All the good deals are found OFF market and are typically created.  If you are well known and brokers know you can close, you can get pocket listings from brokers, but that is hard if you are a newer investor.  I am struggling with this same issue right now.  Brokers don't like to waste time and typically bring their best deals to people who can close.  The best way is to surround yourself with an experienced team and leverage their "clout."

I've been targeting AL and OK for 3 months and have made at least 10 offers, but still have nothing.  I am targeting 5-100 units with value add potential.  Multi-family has a high barrier to entry, but just 1 good deal can drastically change your life.  It just takes persistence and patience.

I hope this helps.

Steven

Hi Allen,

I mostly look in OK and AL for multi-family (5-100 units), but I assume at least $3000/door for due diligence on actual and proforma.  If it is a master metered property and owner pays all utilities, it gets closer to $4000-$4500/door.

Whenever a new owner takes over, tenants tend bring up issues that have been deferred.

I hope this helps.

Steven

Hello BP Community,

I started my direct mailing campaign targeting apartment complexes between 5-100 units.  Based on a quick google search, I am having difficulty finding property managers who specialize in multi-family.  In addition, I am curious to know which areas are in the path of progress in Birmingham.  Any insight would be much appreciated!

Thank you.

Steven

Any recommendations for multi-family (5-100 unit) property managers in Birmingham?

Hello BP community,

I am an OOS investor based in CA and I am looking to learn more about Jacksonville. What areas are good for C or B class apartment complexes? What is the average expense per unit per year? How is the job market and housing market? What is the market CAP rate? Any advice is appreciated!

Hello BP community!

I am looking for a 5 to 20 unit apartment complex in fresno and would love to connect with other investors,  brokers , and property managers to bounce ideas off each other.  I am looking for motivated sellers.

Thank you.

Hello BP Community!

I am an investor and am looking for 5 to 50 unit apartment complex that has value add potential in B or C class neighborhoods.  I look forward to connecting with any brokers, other apartment complex investors or property managers who can help give me some guidance.  I am looking for motivated sellers.

Thank you!

Hello BP Community!

I am an investor based in CA and am looking for 5 to 50 unit apartment complex that has value add potential in B or C class neighborhoods.  I look forward to connecting with any brokers or property managers who can help give me some guidance.  I am looking for motivated sellers.

Thank you!