Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

What Type of Real Estate Do Millionaires Invest in? #podcast #realestate

28 May 2025 · 0 min

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In this brief podcast excerpt, two speakers discuss the types of residential real estate that are attractive to high‑net‑worth investors. Speaker A asks whether to target low‑quality “shithole” apartments or premium Class A buildings. Speaker B explains that while some investors overpay for trophy Class A assets, the preferred strategy is to focus on solid B or B+ properties and to seek value‑add opportunities—upgrading a Class C building to B status. He emphasizes a dislike for buying dilapidated units or becoming a slumlord, describing such investments as uninteresting. The conversation concludes with a reminder to pursue decent apartments and avoid “shitty” businesses.

Like, I drive home and I see apartment buildings on the way home. Should I be looking at shitholes, or should I be looking at A-class, Class A?
Now, Class A, some people will overpay for properties to have a sexy property. There's such a thing as a trophy property that you can overpay for. I also don't want to buy shitholes. I like B, B+. If you have a C property that you can push to a B, I like, I like fun projects. What I don't want to do is buy a shitty property. I don't want to be a slumlord. That's not interesting to me at all.
Like, You want a decent apartment. There's a lot of businesses that you can do. Don't do a shitty business.
Like, don't be a slumlord. There's no reason.