26 year old multifamily investor. 25 units in Ohio, self manage from California. Nothing I say is advice, just sharing my experience.
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Joined August 2015
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I’ve had a lot of new followers here and truly appreciate it, so here is a quick intro about me.
I’m 26, live in Socal and graduated from San Diego State with a degree in Business Finance.
I own 17 units across 3 buildings in Ohio that I self manage from California.
When I was learning about real estate investing, I got the most value from Ben Mallah.
Day to day ownership.
No frills and no bs.
That is what I am trying to do here, just on a smaller scale of course.
Nothing I post is advice or "the right way". I still am learning as I go.
I make some huge decisions sometimes not knowing how they will pay off which honestly is scary at times.
But I would much rather fail trying, than falling victim to the doomer mentality and not even trying.
I share because I know there are many people who are exactly where I was a few years ago.
I also get amazing feedback from people much more experienced than me which I am truly grateful for.
People say I am a larper or I am lying about this, which I really don’t care anymore.
I am literally not selling anything or claiming to be anybody special.
If you own real estate and have read my posts, knows I am not just making all this stuff up.
And if you do, again, I literally don’t care.
I genuinely enjoy posting and learning here.
Hopefully others can learn something from my experience.
And thank you again to everyone following along.
Imagine being late on rent and having to pay a late fee.
Then you open up Facebook just to see your Gigachad landlord flexing on everyone.
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Thank you for 5,000 followers, I truly appreciate all of you. Here’s a quick intro for anyone new.
I’m 27, graduated from San Diego State with a Finance degree and own 25 rental units in Ohio that I self manage from California.
I currently have 4 buildings. A 5 unit townhouse building, two 6 unit apartment buildings, and an 8 unit I bought in August.
I know there are a lot of people out there who want to do this stuff, but it’s not always easy to find people who actually do it.
Lucky for you, I was dumb enough to fire my property manager after a few months, despite having no experience managing properties.
No doom or BS. I just post how it is and the occasional yap.
I’m not selling anything or pretending to have the answers, and I'm definitely not giving advice
Just sharing what I’ve learned along the way, and hopefully someone can learn something.
I start a new LLC every time I buy a property.
That means new checking accounts, emails, debit cards, ACH setups, vendor accounts, etc.
To keep it simple, I also get a new Amex Business card for each LLC and put everything I can on it.
I get the sign up bonus plus points from my other business and personal cards.
I think it works great, and the points let me fly first class to Europe and back for free.
If you want to rent in a good area, nothing will hurt you more than an eviction on your record.
Credit card debt, bankruptcy, student loans- I and most landlords can try work with that.
But once they see that eviction, it's onto the next applicant.
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It’s funny when people on here say they’re waiting for a huge crash to buy a house.
They actually believe home prices just drop 30% and nothing else happens.
My wifi randomly got fried and Grok said I need a new modem
No one had it in stock except Amazon, of course. It could come Wednesday or in 3 hours for $3.
I instantly bit for the 3 hour delivery. Don’t know how that’s even possible but we’ll see.
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GenZ Multi Family retweeted
Somehow, a bunch of people who lost in real estate have convinced a whole generation that real estate is a bad investment.
Luckily, I didn't listen. So here's how you win in real estate as a small guy put as simply as possible.
Pick a market but be smart.
Most people start by just looking at cities. If they don't see population growth, they move on to the next one.
But you see a small decline and instead of moving on, you find out where those people are actually going.
Turns out, they usually aren't going very far. They're moving to the submarkets. Nicer, less crime, boring, and where the new jobs are.
I talk about Dayton a lot because I am in a submarket of it. Look where all the new jobs are coming and it will make perfect sense.
Find the submarket with a lot of 5-10 unit buildings that appear to never come up for sale.
Then check the county website. There are transactions, they're just happening off market. Most of them have been held for 20-30 years. Big green flag.
They have a good enough network to not need to list it and deal with 20-30 offers that day.
They’re not sick of it, they’re just retiring. They bought it for pennies, kept it very under rented to stay full, and took great care of it.
Find a way to contact them or their agent. More times than not, they've used the same agent their whole career.
It’s crucial you build that relationship and trust with the agent. That's exactly how I got my first deal, and it's still exactly what I buy and how I buy.
I now have 25 units and at closing, 24 of them were occupied.
My most expensive remodel was about $8,000 on a unit that hadn't been touched in 20 years. Some got paint and a Home Depot special. Most I just cleaned and updated the kitchen.
My total rent roll is up around $10,000/month since closing while averaging 95-97% occupancy.
Sorry for the long post. Too many dudes in their 20s have fallen for the doom. Enjoy the yap.
Currently doing the last remodeling of the 6 unit I bought 2 years ago.
Getting new lvp in there and it’ll look great.
This is the previous owner’s work, pretty much paper glued to paper glued to wood.
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Was going through my photos and found these gems.
Before you buy that gurus course on Tiktok, make sure you ask for receipts like this.
Found out 2 of my tenants had pets I didn’t approve.
I now approved them and sent them a pet addendum.
2 cats 1 dog.
That’s $750 in non refundable pet deposit.
And $150 per month of guaranteed passive income💰
Buy my course!
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I find a lot of my good tenants on Facebook, but I never add any of them as friends on there.
Regardless, if they post a lot you will eventually start to see some of their posts on your feed.
And to be honest, it’s very cool seeing them turn your apartment or townhouse into their home.
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This is advice my mentor gave me in April 2024 when I was doing my first remodel ever.
His uncle he’s referencing is a billionaire who started with one location and scaled to over 600.
It might seem like basic advice, but at the time I was very inexperienced. It helped me learn how to properly remodel units, so I figured I’d share.
Real estate has big guys who buy big properties and little guys who buy little properties.
Instead of competing with them, just do what doesn’t make sense for either group and buy properties like this.
They’re too big for the little guy, but too little for the big guys.
Stack 5-8 of these, give them some time and there’s a high chance you’ll be happy you did.
Every smaller city has a few guys like Steve and they all share the same 3 traits.
Beat up F-150, basic clothes, and owns 10% of the homes in your town.
Having smart water meters on your properties can save you tens of thousands of dollars.
I have them on every property and get hourly readings from each meter.
If it reads continuous usage of 0.1 gal/hr for 24 hours, I get a text and email with the leak size, when it started and which meter.
Trust me, you sleep much better at night when you have these.
One of my tenants is a car salesman who had his girlfriend move in a while ago.
I got a text from him a few months ago saying she cheated and asked if I could change the locks.
As a landlord who’s also a bro, I changed them and had my worker bring him a 12 pack of Modelo.
He always pays on time and is great, but was late this month and just texted apologizing.
He says it’ll be paid Friday and he’s almost done with the police academy. Once he graduates he won’t have any issues paying on time.
As a bro, I’ll waive the late fees and deliver another 12 pack once he's posted on the local police Facebook page.
Somehow, a bunch of people who lost in real estate have convinced a whole generation that real estate is a bad investment.
Luckily, I didn't listen. So here's how you win in real estate as a small guy put as simply as possible.
Pick a market but be smart.
Most people start by just looking at cities. If they don't see population growth, they move on to the next one.
But you see a small decline and instead of moving on, you find out where those people are actually going.
Turns out, they usually aren't going very far. They're moving to the submarkets. Nicer, less crime, boring, and where the new jobs are.
I talk about Dayton a lot because I am in a submarket of it. Look where all the new jobs are coming and it will make perfect sense.
Find the submarket with a lot of 5-10 unit buildings that appear to never come up for sale.
Then check the county website. There are transactions, they're just happening off market. Most of them have been held for 20-30 years. Big green flag.
They have a good enough network to not need to list it and deal with 20-30 offers that day.
They’re not sick of it, they’re just retiring. They bought it for pennies, kept it very under rented to stay full, and took great care of it.
Find a way to contact them or their agent. More times than not, they've used the same agent their whole career.
It’s crucial you build that relationship and trust with the agent. That's exactly how I got my first deal, and it's still exactly what I buy and how I buy.
I now have 25 units and at closing, 24 of them were occupied.
My most expensive remodel was about $8,000 on a unit that hadn't been touched in 20 years. Some got paint and a Home Depot special. Most I just cleaned and updated the kitchen.
My total rent roll is up around $10,000/month since closing while averaging 95-97% occupancy.
Sorry for the long post. Too many dudes in their 20s have fallen for the doom. Enjoy the yap.
Just received some of the best news I’ve had in a while.
I’ve arrested the same guy for trespassing on my property 4 times this year.
A few weeks ago I got him again for trespassing and my tenant pressed charges for theft.
In between then and now, he also got arrested for obstruction, indecent exposure and resisting.
Finally, my only headache is gone and he'll actually do some real time in the pen.
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