Accelerated Real Estate Investor 241: Tim Vest on Finding Bigger Profits in Smaller Multifamily Properties
In today’s world, the perception is that bigger is always better. But that’s not always the case with real estate investing. And my guest today is fully aware that there’s still great profits to be made with those smaller multifamily properties.
Tim Vest is the Founder of Harvest Properties Group, and has more than 15 years of experience in real estate and development. Like many real estate investors, his journey started with fixing and flipping single-family homes until he was able to scale his business out of residential and pivot to multifamily properties.
While the vast majority of his portfolio has been created with properties that are 20 units and up, he hasn’t lost sight of the fact that the smaller multifamily properties still offer great returns. With less competition and higher cap rates than the 80 or 100+ unit properties, he’s been able to keep the cash flowing and his investors happy.
In this episode, we’re going to talk about why these smaller properties are yielding bigger ROI, some of the lessons he learned from flipping single-family homes which led him to pivot to multifamily, and why you shouldn’t wait until everything falls into place before you make deals.
Key Takeaways with Tim Vest
- How Tim was able to scale himself out of residential real estate.
- Understanding how having just one or two vacant properties in your single-family portfolio can wipe out an entire year's worth of profits.
- Why it’s easier to hire a general contractor for multifamily upgrades versus single family flips.
- How the cap rates on smaller multifamily properties have provided a bigger ROI and have been some of the most profitable deals for Tim’s company.
- Why Tim is focused on the student housing market, especially in the Southeast.
- How attending masterminds has been one of the most successful ways to create partnerships.
- Tim’s best advice on taking action today. Don’t wait for that perfect deal to fall into place.
- The key to finding deals is by constantly networking.
- The importance of never putting yourself in a position where you only have one exit.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/241
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