Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Scaling Your Real Estate Portfolio is NOT Easy!

30 Dec 2022 · 1 min

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0:48

In this personal vlog, the speaker recounts his journey of scaling a rental portfolio from single‑family homes to larger multi‑unit properties. He describes moving from single‑family units to a 5‑unit building, then acquiring an off‑market 10‑unit complex that required only cosmetic renovations. Following the property manager’s advice, he chose to vacate all existing tenants at once to expedite renovations, but this decision led to significant holding costs over the ensuing year before the units could be re‑leased. The narrative highlights the challenges and hard‑earned lessons of rapid portfolio expansion, especially around tenant management and cash‑flow impacts.

Chapters

I love putting myself in hard positions. This has been like maybe the biggest learning experience so far. So I, at the time I was like doing single family, single family triplex, single family, 5-unit, single family. And so I was gradually saying yes to bigger deals. Like the 5-unit was right before that and that one is already done and stabilized and good. And then a 10-unit popped up off market from a broker and walked through and it looked like a cosmetic renovation. And so we had the great idea to like vacate all of the tenants at once because our property manager at the time was like, if this is going to be quick and easy, let's just like vacate all of the residents, get it done, and lease it back up because we're a year later and the holding costs are ridiculous.