Buying Multi-family is not buying real estate—it’s buying a business. Every dollar that you spend, 30 cents should cone back to you. If you don’t get a return on investment, why spend the money? I bought 192 units recently. Originally I thought we were going to fix 48 units which would cost $480,000. Now we are doing just 10 units spending $48,000 creating the illusion we are spending $480,000. It’s not about taking short cuts—it’s about being smart about cutting costs that aren’t needed. Create the illusion you are spending money. What do you need to spend to increase rents? Does it make sense to rehab the whole place? Maybe you can fix things by changing 1 or 2 things. Partially rehabbing a place can be just as effective as rehabbing the whole thing. Bottom line, if you are going to spend money, make sure you will get a return on it.

  • Spencer Davidson

    So do you raise the rents on all of the units or just give higher rents to the new comers?

  • bcwewill

    Hey Grant!!!  Would love and appreciate your time in reviewing this property.  It hits the market next week.  My aim is to hear what your opinion/action step would be in the following 2 things

    1)This is my first investment.  Appreciate your time and knowledge and any advice.  

    2)What action step… ***if any would you take with the window I am sitting in and it not being on the market yet.

    Full report in link below:
    24 units
    2.9 (price that it will be listed at)

    Seller info: 
    purchased at 1.2 million September 2015
    Restored property 

    Tax Assessment: 
    1.7

  • bcwewill

    Project is emailed to you Grant

  • bcwewill
  • Tina Allen

    I grew up in Stuart Florida !!!!

  • Tina Allen

    Ginger i have lots of contacts in Stuart i am happy to help promote you !

  • bcwewill