How to Buy a 52 Unit Apartment Complex | How to Invest in Large Multifamily Real Estate

Show Sponsor: Steadily Insurance- https://www.steadily.com/Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!This episode was inspiring! In this interview, I sit down with Jamiel Strickland and returning guest Eric Friday (Episode 27). The two are the Co-Founders of Monopoly Bros.Our guests worked their way up from wholesaling to fix-and-flip to buy-and-hold. In this conversation, we dive into their biggest transaction yet: A 52-unit apartment building in a class A neighborhood right outside of Detroit. In this episode, we discuss why it’s important to set goals not only around cashflow, but around your ROI as well. Jamiel and Eric also talk about the beauty of working with a team when managing multifamily properties. The two share, through their example, that even the most successful real estate investing careers can begin with $10,000 homes.Highlights1) When it comes to single family units, the focus tends to be on cash flow. With large multifamily, on the other hand, appreciation of the property is usually the top consideration. After all, beyond cash flow, the bulk of your profits is typically made when you sell or refinance the property.2) With single family homes, value is mostly dependent on market conditions. However, you have much more control when it comes to large multifamily properties, by treating your investment like a business. You can do this by focusing on adding value, increasing your rental income while decreasing your expenses.3) Nobody jumps from beginner to owning a hundred units, no matter how passionate and excited they are about this space. Jamiel and Eric started out investing in $10,000 houses. Be intentional about tackling your goals one step at a time.How to find themWebsite - https://monopolybros.com/Instagram - @monopoly.bros, @__efriday, @jamielstricklandTwitter - @monopoly_bros_Learn how to invest out of state- https://www.outofstatemoney.com/ Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Investing Community for $1- https://bit.ly/joinbredcommunityDownload my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1Learn how to find your first tenant- https://bit.ly/firsttenantcourseText BRED to 74121 to join our VIP Text List and get the latest updates! Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy