How Are You Managing Mid-Size Apartment Buildings (40-80 units)?

[John Stoeber]

Hi BP – I’ve been reading up and talking with as many investors as I can in the multi-family space, and the 50-80 unit apartment complex intrigues me. Based off of what I’ve learned you’re often dealing with Mom & Pop landlords who are mismanaging the property, and there is typically a smaller buyer pool. This means there is a higher chance for a value-add component, as well the opportunity for creative financing (seller financing, lease option, etc).

While all of this may sound great it sounds like managing a property this size is the most challenging aspect of the deal because it’s not large enough to support on-site management or a full time maintenance person, but it still requires daily attention.

My questions are what systems and strategies has the community effectively implemented to manage a property this size, and how much more efficient could the management become if you acquired multiple properties of this size within 30-60 minutes of each other? Thanks in advance.