What’s the secret to successfully making the jump from single-family to multi-family properties?
Chris Urso here, and I can tell you that after being involved in numerous multi-family property deals, I’ve discovered 3 simple rules that will help you win at apartment investing: build reserves, invest in your investors and engage your managers.
Are you ready to learn these 3 rules and discover success in your next multi-family project?
Let’s get started.
Rule #1: Always Have Enough Reserves
Whether you’re buying a 4-unit building or a 204-unit building, you have to plan for the unexpected. It’s really important to plan for repairs and updates, whether it’s a new roof, boiler system or windows.
First, build a reserve account going into the first year. Then, put aside money every month to cover the cost of any future improvements or fixes.
For example, for a 100-unit building,…
Christopher Urso
is the founder of URS Capital Partners and National REIS. Chris has been investing in real estate since 2001. Over the years he has been involved in all aspects of real estate, from single-family fix and flips, buy and hold cash flow houses, and finally to apartment buildings. His real estate investment career only took off when he purchased his first apartment building 3.5 years ago. He now controls over $15,000,000 of apartments and has raised over $8,000,000 of private money in just over 3 years. He now structures investment partnerships to acquire large apartment complexes and also private coaches investors helping them purchase their own apartment buildings.