Logan Rankin, a multifamily investor with 4,000 units, shares his strategies on building his portfolio without investors and the importance of operational excellence. Topics include rapid unit turnaround, managing in-house, KPI tracking, and unique team development approaches.
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Logan's Career Path
Logan Rankin worked at Target Corporation for ten years, holding various leadership roles and managing large P&Ls.
He transitioned to real estate in 2013, starting with a single-family home and scaling to over 4,000 units without external investors.
insights INSIGHT
Why No Partners?
Logan initially avoided partners due to lack of connections in real estate.
He later chose to remain solo, prioritizing operational control and the full rewards of his efforts.
volunteer_activism ADVICE
Managing Cash Flow
Maintain meticulous organization, especially when managing multiple value-add projects simultaneously.
Prioritize speed in renovations to minimize burn rate and reach refinancing milestones faster.
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In this episode, we chat with Logan Rankin, a highly successful multifamily investor who has built a portfolio of over 4,000 units with no partners or investors over the last 10+ years. Logan's background includes a decade at Target Corporation, where he held various leadership roles overseeing large P&Ls. He transitioned to real estate in 2013, starting with a single-family house and scaling up to 4,086 units.
Logan's unique approach involves focusing on operational excellence, managing everything in-house, and developing a construction arm and property management company to support his portfolio growth. Logan also shares some insights on selling properties versus holding forever, his criteria for property acquisitions, and the operational strategies behind managing a large multifamily portfolio.
Here are some of the topics we covered:
- The strategies he used to build his portfolio with his own capital - The pros and cons of selling properties versus holding them forever - How he manages all his properties in-house and the importance of building a strong management infrastructure - His entire value-add process, including how he turns units in just 72 hours - The KPIs he tracks and the importance of operational efficiency - How he hires and develops his team, including a unique approach to training and certifying his staff
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