I’ve had great success in residential real estate but it's very time-consuming to build a portfolio. There are so many moving parts, and it’s very hard to manage single rental properties all over the city. It's very time-consuming and can sometimes be frustrating. If a tenant moves out then that entire asset is not performing because it's only 1 unit.

What attracted me to multifamily, obviously, the bigger numbers but also, it’s as if you had many rental properties in 1 location, one apartment complex. Much easier to manage. Instead of rehabbing individual properties, you are rehabbing an entire apartment complex, one unit at a time, using the same materials, color schemes for each unit. Instead of 1 kitchen, 1 bathroom it's multiple. You can save a lot on material costs and labor. Instead of replacing one toilet, they replace 100 toilets all in the same location.

It’s also a team sport. A group of investors will partner in a transaction each bringing something different to the table. Which makes it easier to do multiple deals when investors share the workload.

It is a much safer investment. Even if a few tenants move out the asset will still perform, and the property manager will find other tenants to fill the unit to bring occupancy back up. It's also much easier to increase the value of a multifamily complex. If you bring down the expenses, increase rents, increase income through the laundry room, designated parking, pet deposit, etc. all those items will increase income which will increase NOI (Net Operating Income), and if NOI goes up the property value goes up.

There are also tax benefits and many more benefits making multifamily extremely appealing.

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