All Forum Posts by: Brenton Hanes

No, I own almost 900 units in Los Angeles. We love Franktown. 

@Brandon Sturgill Thank you. I am Gen 2. My job is not to screw it up!

Hey John, I am in Franktown (20 min east of Castle Rock) and love multi-family as well. Just cant do the climbing. Really bad shoulders from racing motorcycles.

@Brandon Sturgill Good question. One property we bought in 1974. It is a 149 unit. Paid $256K, its current value is about $20M. On the other side, we have one we bought in 2013 (I think). Its a 150 unit (townhome spec) built in 2006. We paid just under $25M, current value is about $50M. We are just wrapping up a 120 unit we bought in December of 2019. Paid $14M and put about $2M in rehab costs. We vacated about 40% of the building and completely rehabbed those units and the exterior. Increased rents from $200 to $400 a door.

@Martin D. my family has been investing in the Los Angeles market for over 60 years (about 900 units and counting). Yes prices are inflated but there is still money to be made. As many have mentioned, house hacking is a great way to start building your empire. The key is patience and to live like you are poor and save as much $$ as you can. Real estate is not a get rich quick program. The hardest part is getting started. Finding a good mentor is key. Never give up and learn from your mistakes, we all make them. One of our key to our success is invest in only markets you know. We have owned thousands of units across the country and it never works out nearly as good as the ones in our own backyard.

@Eric Van Deman I would love those contacts as well. Thank you.

We own and operate almost 900 multi-family units in Los Angeles County (several are 100+ units). We are also brokers. There are several ways that have worked great for us but it takes years of constancy. Mailing is a great way but it depends on your content. Postcards, direct letters are great ways but you have to work it in conjunction with networking. Om postcards, market updates and past sales are great. Marketing  direct buyer needs is a good one too that works well for me. Call if you can but most get annoyed as we get a few calls a day right now. Social media and YouTube is a good way but very long term marketing. When you get int the 50+ units the game changes quite a bit. These are typically really savvy investors. Never be afraid to think outside th box. Its a numbers game for them. I will add, at the end of the day its a relationship you need to establish and that simply takes time.

We stay away from section 8. We own and operate almost 900 units in Los Angeles County and have been investing in multi-family for over 60 years. If we acquire a building that includes some section 8 tenants, we always get them out. The extra headache is never worth the "guaranteed rent". The less government involvement in my business the better. I dont need extra bureaucratic red tape in my life.