​Waving goodbye to flipping and hello to apartments.

[Jered Sturm]

I started my investing career in single family buy and holds March 2012. We bought up as much as we could figure out how to. Over the past 4 years we were able to build our portfolio to 24 units. As the market continued to recover we shifted our strategy in April of 2015 to fix and flip.

Fix and Flip fit our company very well. With a background in contracting, I have a full understanding of the process of taking a bad house and making it desirable. Couple that with our REI knowledge, a real estate license, and a strong work ethic, we were able to come out 1 year later with 16 flips under our belt with close to 3 million dollars in sales.

As we wrap up our last flip this week. We look forward to next week when we will be closing on a 42-unit apartment. I enjoyed each flip, but man was it hard work! The profits were good, and allow us the ability to purchase this 42 unit building next week. Instead of buying a fancy car or big house we are pushing much of those profits back into this new apartment building.

If it weren’t for the flips we would not have the ability to buy this multimillion-dollar apartment building with out raising money from private investors. Now because of the success we had in flips we are able to put our own money up to purchase the 42 unit, prove our ability in the multifamily space with our own money. Which will lay the groundwork to later raise money to do even larger deals.

The past 4 years has been a snowball effect. I can’t wait to see what the next 4 bring!

This is why I am excited to be waving goodbye to flips and hello to apartments. 

[Hubert Washington]

@Jered Sturm

Great story and thanks for sharing. It's like playing Monopoly...trade in 4 green house for one red hotel! Congratulations on your REI success and on buying many more "hotels"!

@Chris Washington check out Jered's story. He's over in your area.