Single family to multi, convince me

[Alan G.]

I have heard numerous times from multi family investors that if they had it to do over, they would have skipped the singles all together.

However, I just don’t see the returns in multi. I currently own just under 60 properties, all singles, all very close in proximity to each other and purchase approx 1 per month. All “c” neighborhoods. Have a great system in place for renovations since most of what I buy is distressed.

Making an avg of 500 per door after everything including debt service and my COC after financing is usually around 50 percent and need no outside investors.

I just can't get those returns on multi. I totally understand buying multi and raising NOI to increase value but I'm not looking to sell in 5 years so cash flow is really the only thing important to me.

Am I missing something? Given these returns, would you still do multi?