Multifamily investing is a bit different than other types of residential real estate investing. When the economy begins to shift, and a recession is looming, multifamily real estate tends to drop in price. But, at the same time, more renters need a place to stay, or more importantly, an affordable place to stay, making multifamily apartments their go-to option. If apartment investing has ever interested you before, Jake Stanziano and Gino Barbaro make a strong argument why now may be the perfect time to get into the industry.
If you’re feeling deja vu, don’t worry, Jake and Gino have been on the BiggerPockets Podcast multiple times before. Each time they come on they bring new lessons, new deals, and a lot more units under their belt. Only a decade or so ago, Jake and Gino were busting their humps working at jobs and businesses that didn’t fulfill them. It took them a year and a half to buy their first deal, and now, they’re sitting on $175M worth of multifamily. That’s quite a lot of deals in just a decade.
Jake and Gino drop some gems in this episode, specifically on why 2022 may be a smart time to start investing, how to develop your “buy right” criteria, and preparing your exit strategies so you can build wealth, not just get rich once. They’ve learned a lot of multifamily investing lessons the hard way, so next time you’re presented with a killer deal, you don’t have to double down on their mistakes.
David:
This is the BiggerPockets Podcast show 632.
Gino:
It’s not when you start. The bottom line is you start. I think now is the perfect time to start because you’re going to need several months to have broker relationships, to start talking to investors, to start refining your business plan, to get into the market, and by the time you get into it, the cycle’s changed again. I mean, it’s changed so many times in the last two years that if you’re ready to start, just start today. Make a commitment. Figure out what your why is and…