JF3428: Blueprint for Building a 900+ Unit Multifamily Portfolio ft. Farris Gosea
Farris Gosea, the founder of Farris Gosea Capital, talks about scaling his multifamily portfolio to 920 units, including the challenges he’s experienced along the way from finding great maintenance technicians to implementing better systems. Key Takeaways Scaling in Real Estate: Farris emphasizes the importance of transitioning to larger properties and why it’s critical to have a long term mindset prior to scaling. Financial Strategies and Management: Farris shares insights into his approach to financing and managing his properties, including self-management strategies, and the benefits of using professional property management software. He also highlights the importance of maintaining control over operations and the strategic decision not to raise external capital for his investments. Maintenance Challenges and Deal Sourcing: Farris discusses the challenges faced in scaling a real estate business, particularly in maintenance and staffing. He provides tips on finding good deals, focusing on off-market opportunities, and his criteria for identifying profitable investments. Farris Gosea | Real Estate Background Founder of Farris Ghosea Capital Portfolio: 920 units Based in: Schererville, IN Say hi to him at: rentalincomepodcast.com/group ellsburygroup.com farrisgoseacapital.com Greatest Lesson: TSet aggressive goals, and have a longterm mindset. Then work backwards from there. Sponsors BAM Capital Learn more about your ad choices. Visit megaphone.fm/adchoices