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 gameWhat market is he in and how it changed over the last couple of yearsWhy he moved his investing from Cincinnati to AtlantaHow he uses partnerships to manage different marketsTips for funding using other people’s moneyThe goal that led to using syndicationSelf-fulfillment rather than just buying moreThe importance of figuring out your “why“How he has the discipline to not spend their quadrupled incomeWhy you should separate out the “business income”How he found his 42-unit apartment complexTips on managing cold calling What criteria was he looking forThe advantages of having dedicated water lines for the unitsThe beauty of adding value to propertiesWhat exactly a resident manager isWhy building structures made the difference in their businessHow he financed this multifamily dealUsing the BRRRR strategy on large multifamilyAnd SO much more!Links from the ShowBP Podcast 124: Building a Real Estate Empire At a Young Age with Jered SturmBiggerPockets ForumsBiggerPockets WebinarBiggerPockets PodcastWhat 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 CardoneBP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge ShukhatBuildiumBiggerPockets BookstoreBooks Mentioned in this ShowThe Book on Rental Property Investing by Brandon TurnerThe Book on Managing Rental Properties by Brandon Turner and Heather TurnerTraction by Gino WickmanE-Myth Revisited by Michael E. GerberTweetable 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 JeredJered’s BiggerPockets ProfileJered’s BiggerPockets Author ProfileJered’s Company Website