Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

What to buy in 2023 #realestate

24 Jan 2023 · 0 min

Watch on YouTube

0:26

In this brief segment, the speaker advises against purchasing a high‑end, small multifamily property that commands top rent on a street, despite its aesthetic appeal. Instead, they highlight a neighboring six‑unit building as a more attractive opportunity. While walking through a Seattle neighborhood in the rain, the speaker emphasizes a strategic focus on acquiring properties where value can be added and the number of rental units (doors) can be increased, rather than seeking the most polished building.

All right, don't buy something like this. This thing is gorgeous. It's small multifamily, gets the best rent on the street. However, right next door there's this— 6 units on the same street. While I'm walking the neighborhood looking for properties, Seattle, so getting rained on. We're looking for more doors. I don't need the nicest building on the street. I need the building where I can add value and add more units.