How does managing apartments compare to buying and managing single-family homes?
Anybody can go out and get a single-family home, it’s just easier. I don’t think there is a person thinking about joining our group who can’t go out and buy a single-family home in the next 2 or 3 months. Even if you have bad credit and no money, it can be done. The reason people look to transition to multifamily is because of its ability to move from employment to self-employment, or employment to business owner. If you were to acquire 20 houses at a rate of one per month, it would take you 20 months to complete the mission. But with multifamily, you can buy all 20 units at once…and only attend one closing three months later. The cashflow on a single-family per down payment is usually a little higher, but the ability to leverage yourself business-wise is much higher in the multifamily.
