205: Snowballing from Single Family Houses to Apartment Complexes with Jered Sturm | Bigger Pockets Podcast
How does one transition from doing simple houses to more complex deals? That’s the topic on today’s episode of the BiggerPockets Podcast, where we sit down once again with Jered Sturm, a real estate investor from the Midwest who’s made the transition from doing all his own work on single family houses to purchasing larger properties. In this episode, we dig in deep on the purchase of his newest 42-unit apartment complex and the unique “value-add” ideas he discovered that made this property a home run!
In This Episode We Cover:
A quick recap on how Jered got started in this game
What market is he in and how it changed over the last couple of years
Why he moved his investing from Cincinnati to Atlanta
How he uses partnerships to manage different markets
Tips for funding using other people’s money
The goal that led to using syndication
Self-fulfillment rather than just buying more
The importance of figuring out your “why“
How he has the discipline to not spend their quadrupled income
Why you should separate out the “business income”
How he found his 42-unit apartment complex
Tips on managing cold calling
What criteria was he looking for
The advantages of having dedicated water lines for the units
The beauty of adding value to properties
What exactly a resident manager is
Why building structures made the difference in their business
How he financed this multifamily deal
Using the BRRRR strategy on large multifamily
And SO much more!
Links from the Show
BP Podcast 124: Building a Real Estate Empire At a Young Age with Jered Sturm
BiggerPockets Forums
BiggerPockets Webinar
BiggerPockets Podcast
What Sets Apart Successful Real Estate Investors From Those Who Fail, Quit, or Never Get Started? (blog)
BP Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
BP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat
Buildium
BiggerPockets Bookstore
Books Mentioned in this Show
The Book on Rental Property Investing by Brandon Turner
The Book on Managing Rental Properties by Brandon Turner and Heather Turner
Traction by Gino Wickman
E-Myth Revisited by Michael E. Gerber
Tweetable Topics:
“Self fulfillment is how can you be the best you can be while also helping others be the best they can be.” (Tweet This!)
“We’ve over prepared for the future, and even though we’re still pretty small, we’re running like a large company.” (Tweet This!)
“Management makes or break the investment.” (Tweet This!)
Connect with Jered
Jered’s BiggerPockets Profile
Jered’s BiggerPockets Author Profile
Jered’s Company Website
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