California Multi-Family / Apartment Investing

[Benjamin Nichols]

Any people interested in multi-family / apartment buildings in California? I see a lot of people on here stay away from CA, but I think it's a great place to invest. What do you guys think?

-Ben

[J. Martin]

Originally posted by @Joey Budka:

 I use the word game because it really is a game for this aristocratic class of active ultra high net worth commercial real estate investors who collect apartments like children collect Pokemon cards. The higher your net worth, the more you're winning the game, make sense?

Joey is spot on with this colorful UHNW analogy! I have seen schedules of real estate that go on for pages and pages of legal size documents, and entity organizational charts that look like a 20-generation family tree! Multiple $10MM+ residences that sit empty 90% of the year. But if you think of it relative to their cash flow, net worth, etc, some aren't even that highly leveraged (some are). And each of those commercial buildings they buy would be like you buying a $25K house. They need somewhere to park their cash, and like RE/MF as an asset class..