Most investors think the hardest part of buying out-of-state multifamily is finding the deal. The truth is the hardest part is managing it. If your management team is weak, your out-of-state deal will eat you alive. Here is the reality: Your asset manager is the CEO of your property. They are your representative on the ground. If they lack the skill set, the mindset, or the tool set, you will pay for it in higher expenses, missed opportunities, and constant headaches. That is why I tell new investors this: if you cannot trust the people running it, do not invest outside your state. Keep it local until you have the right team. Now, if you can get to the property within a few hours, that is manageable. And if you are investing as a limited partner, the operator better have reliable boots on the ground. Either way, it comes down to one thing. Multifamily is not about distance. It is about management. Deals succeed or fail on the strength of the team. So let me ask you: what is the biggest challenge you have faced with property management?

Most people think wealth comes from buying real estate. The truth is the purchase is just the beginning. The real wealth comes from what you do after you buy. That’s where the BRRRR method comes in. Buy. Renovate. Rent. Refinance. Repeat. You start by buying at the right price. Renovate to force appreciation and increase value. Rent it so tenants cover the debt and expenses. Refinance to pull equity out without paying taxes. Then repeat the cycle and let that equity fuel your next deal. This is how one property becomes many. It’s how you create cash flow today and long-term wealth tomorrow. The process forces you to think like a CFO, making sure every dollar has a job and keeps working for you. Too many investors stop at ownership. Wealth builders repeat the system until their portfolio works harder than they do. Are you buying properties, or are you building money trees?

A young family walks into a neighborhood hoping to buy their first home. They see “For Sale” signs, but by the time they call, the houses are gone. Not to other families, but to funds buying hundreds of homes at once. Here’s what happens next: the fund keeps some empty, then sells a few back to itself at inflated prices. Suddenly, the comps reset and the whole neighborhood’s value jumps overnight. Now the fund refinances at the higher value, raises rents, and locks in billions in equity. Meanwhile, that young family is priced out before they even had a chance. It feels unfair. And it is. But the truth is you don’t beat scale with outrage. You beat it by learning the game and positioning yourself to build wealth that lasts. So here’s the real question: will you watch this happen, or find your seat at the table?

They were beautiful. They looked good in the driveway. But they didn’t create wealth. Then I took $500,000 and bought two hotels. That investment turned into $6 million in profit. Here’s the difference. Cars depreciate the second you drive them off the lot. Hotels generate income, appreciate in value, and can be refinanced to pull out equity. One drains your pocket. The other keeps filling it. This is the mindset shift. Wealth isn’t about what you can buy today. It’s about what you can build that keeps paying you tomorrow. And here’s the best part. Once your assets are working for you, they can fund the luxuries later. You don’t have to give up the cars, you just let your assets buy them for you. If you really want freedom, stop chasing things that only look good. Focus on assets that produce cash flow, grow in value, and create opportunities for others too. The cars turned heads. The hotels built a legacy. What’s an “expensive lesson” you learned that changed the way you invest?

A lot of new investors get excited to buy their first rental. Most of the time, they start with a single-family home. Here’s the problem. A single family is like sitting on a stool with three legs. If one leg breaks, the whole thing falls over. One vacancy means no rental income. You are still covering taxes, insurance, and the mortgage. Renovations come out of your pocket. If the property sits vacant too long, that “investment” probably lost money that year. Now compare that to multifamily. With four, ten, or twenty units, one vacancy does not sink you. You are still cash flowing, still paying expenses, and still building wealth. That is why multifamily is the foundation of financial freedom. It gives you stability, scalability, and steady income. Of course, multifamily has its own risks. More tenants mean more management. Larger properties often come with bigger repairs. Financing can be more complex. But the good news is those risks can be managed with the right systems. Strong property management, reserves, and proper underwriting turn those challenges into opportunities. Unless you are flipping it, buying single-family as an “investment” is just buying yourself a job. So here is the real question. Would you rather sit on three legs or twenty? What’s your take? Single-family or multifamily?