Making millions in multifamily investing

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In this episode, I chat with Anna Myers, who is an incredibly successful commercial multi-family real estate investor. Anna began her investing career in San Diego after leaving the IT industry. She has successfully applied her knowledge and experience in the IT world to create a brilliant and successful real estate company. Besides running her own real estate company, Anna is also an instructor at Multifamily University. Anna and Neil, a founder of Multifamily University, partnered to purchase apartments in 2018 and are looking to put more apartments in their portfolio.

Anna’s grandfather was a real estate magnate in California. She is the youngest grandchild of the family of a commercial real estate family. Her first career was in computer programming, and her degrees are all in IT. Her next job was as a digital photographer in southern California. She learned about business ownership and found out about scaling a business. She then set a five-year plan to exit her photography business and to become a full-time real estate investor.

Initially, Anna planned on investing in a single-family home. As she analyzed markets, she realized this was hard to scale. The value of a commercial multi-family home is much better than a single-family home. The variables you can control put you ahead financially than a single-family home. She took a boot camp on investing in commercial multi-family and decided to dive into this investment.

Anna talks about the types of markets you want to look for when investing in your new property. Elements to look at are job growth, population growth, and other factors. She also looks at these factors in a specific way. All of her purchases have to make sense from a data standpoint.

She currently has a team of real estate investors. Anna’s team are equity investors who are trained on how to use data science to buy apartments using data-based information. Their team does not buy in California. Make sure to partner with people who live in the town you are investing in and people who are willing to travel to the investment city regularly. Additionally, make sure you have a suitable lender and broker relationships to get the best deals.

Anna describes how to find a good property manager by setting up appointments, asking the right questions, and looking at their Google and Yelp reviews, among other metrics. Property management for 80 units and above, make sure you have a person who is full-time property management for this investment. Your manager will also need someone to look over them to see the progress of the property. Anna has a tracker to have visibility into this day-to-day process.

Listen in to find out what types of buildings are more desirable, should you purchase a building that already has renters, and what types of renovation are appropriate for the types of tenant buildings and area you are renting your apartments. Find out what percentage of your building do you need to have filled with getting a Fannie Mae loan and information on Bridge Loans. Learn how you can experience tax benefits with opportunity zones.

In This Episode:

[03:47] I introduce Anna Myers to the show.

[09:28] Why investing in multi-family homes?

[13:18] What is the difference between single family home and commercial markets?

[15:50] Anna describes her real estate investment team.

[18:25] How to find a good property manager.

[20:13] Anna’s portfolio and the types of commercial properties they invest in with their company.

[22:29] How to improve your net operating income.

[24:52] Should you purchase a building that already has renters?

[28:00] Moving the building and planning to sell the building.

[31:08] Types of renovations to do and what renovations to leave for the next investor.

[35:47] How to optimize asset management with data science.