How does one transition from doing simple houses to more complex deals? That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down once again with Jered Sturm, a real estate investor from the Midwest who’s made the transition from doing all his own work on single family houses to purchasing larger properties. In this episode, we dig in deep on the purchase of his newest 42-unit apartment complex and the unique “value-add” ideas he discovered that made this property a home run!
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We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
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In This Episode We Cover:
- A quick recap on how Jered got started in this game
- What market is he in and how it changed over the last couple of years
- Why he moved his investing from Cincinnati to Atlanta
- How he uses partnerships to manage different markets
- Tips for funding using other people’s money
- The goal that led to using syndication
- Self-fulfillment rather than just buying more
- The importance of figuring out your “why“
- How he has the discipline to not spend their quadrupled income
- Why you should separate out the “business income”
- How he found his 42-unit apartment complex
- Tips on managing cold calling
- What criteria was he looking for
- The advantages of having dedicated water lines for the units
- The beauty of adding value to properties
- What exactly a resident manager is
- Why building structures made the difference in their business
- How he financed this multifamily deal
- Using the BRRRR strategy on large multifamily
- And SO much more!
Links from the Show
- BP Podcast 124: Building a Real Estate Empire At a Young Age with Jered Sturm
- BiggerPockets Forums
- BiggerPockets Webinar
- BiggerPockets Podcast
- What Sets Apart Successful Real Estate Investors From Those Who Fail, Quit, or Never Get Started? (blog)
- BP Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
- BP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat
- BiggerPockets Bookstore
Books Mentioned in this Show
- The Book on Rental Property Investing by Brandon Turner
- The Book on Managing Rental Properties by Brandon Turner and Heather Turner
- Traction by Gino Wickman
- E-Myth Revisited by Michael E. Gerber
- “Self fulfillment is how can you be the best you can be while also helping others be the best they can be.” (Tweet This!)
- “We’ve over prepared for the future, and even though we’re still pretty small, we’re running like a large company.” (Tweet This!)
- “Management makes or break the investment.” (Tweet This!)
Connect with Jered