Mark Simpson shares his approach to small multifamily investing, explaining how managing multiple units in one building can boost profitability. He explores converting properties into boutique hotels as a strategy to increase returns.
Two to four units.
Then I started buying small multifamily, which is two to four units. And in scaling to two to four units, I realized something. I realized that I liked this multiple doors in one location kind of situation because for one, I realized I can make more money. How? Because I can rent each individual unit as one or I can rent them out together. And if I rent them out together, I was always able to charge a lot more money. Then I realized that I can create experiences, right? And I realized how much easier the management was when multiple doors are in one location, how things are a lot more streamlined. I realized how much inventory management is a lot easier when you have multiple doors in one central location. So then I said, man, I want to just start doing this. You know, maybe if I can just start doing these hotels, I can start doing small motels. And. And that's kind of what turned the light bulb on for boutique hotels.
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