After three years in multifamily operations and underwriting over $250M in potential acquisitions, I wanted to share some of my observations and perspectives. I am not claiming to know everything about this stuff, because I certainly do not. I’m still learning every day, but I hope these insights prove useful and spark conversation about important topics in the multifamily world. Here is the thought I will be unpacking today: There is often a noticeable pricing and cap rate gap between 1970s vintage product and late 80s / early 90s vintage assets, even when they sit in the same submarket. For seasoned investors this may seem obvious, but I think it’s worth breaking down the underlying reasons. If you feel I missed anything feel free to comment and let me know. Below are some of the biggest reasons I believe this gap exists, along with a few things I personally look for when underwriting and touring these types of assets. TLDR: 1970s multifamily properties often trade at higher cap rates because they carry more operational and capital risk. Aging/out-dated plumbing, environmental considerations, insurance friction, and dated layouts all contribute to the discount compared to late-80s or early-90s product. But with careful diligence and the right business plan, that discount can also create opportunity. --- Why the market discounts 1970s product 1. Major systems are closer to the end of their life Many 1970s properties are approaching replacement cycles on multiple systems at once: Roofs Plumbing Electrical panels Parking lots HVAC systems When several of these items hit their replacement window at the same time, buyers must underwrite meaningful near-term CapEx. That risk gets priced directly into the purchase price. This can be the case with 80’s and 90’s product as well, but you may be going on even ANOTHER replacement cycle for some of these systems. 2. Plumbing systems and repipe risk One of the biggest dividing lines between vintages is plumbing materials.

We just closed on a 121-unit in Fort Worth. Here are some things that a spreadsheet doesn’t tell you. Lender requirements can shift late in the process. We were initially expecting agency debt, but last minute requirements changed and the proceeds no longer worked for the deal. So we pivoted to bridge. Good thing we had already modeled bridge from the start. You may have to restructure entities to align with lender expectations. We formed a new borrower entity late in the process and updated the org chart to match what the lender required. That meant new documents, new approvals, and making sure everything flowed correctly from a legal and ownership standpoint before we could close. Multiple legal teams get involved. Lender counsel, borrower counsel, title, everyone reviewing language and redlining documents. A lot of back and forth. Signature pages get revised. Loan agreements get updated. You think you are done, then another comment comes in. Title items can surface that have to be cleared before anyone wires money. In our case, there were legacy items that had to be resolved before we could get clean title. That meant coordination and making sure everything was cleared so funding could happen. None of that shows up on a spreadsheet. Getting this deal to closing was a different animal. Glad we got it done. Now the real work begins.

Focus on solving problems and working hard in a nitch, instead of obsessing over materialistic desires like fancy cars or penthouses. Entrepreneurship is about dedication and focus, not just filling your pockets. Cut out distractions and focus on the work, not the outcome. There are two main ways to make money: 1.dedicating your time to something profitable or 2. using your money to generate more money. Curious how to maximise and scale your earning potentials Comment 'info' Cut out the noise and stay focused on what truly matters. See you at the top

Storm hit one of our multifamily properties. Most people see damage. We see an opportunity to reset the asset. New siding. Roof repairs. Exterior upgrades. All coordinated through an insurance claim while improving long-term durability and curb appeal. This is what real operators do: • Protect the downside • Improve the asset • Come back stronger than before Multifamily isn’t passive , it's active management, smart decisions, and turning problems into value.

First, a huge thank you to this community 🙏. The strategies, insights, and advice shared here on multifamily investing are invaluable for anyone serious about building wealth in this space. A bit about my journey: I was stuck in a 9–5 job, trying to figure out how to create financial freedom. I started a YouTube channel as a side hustle, sharing content and uploading consistently—but growth was slow, and I wasn’t seeing results. Everything changed when I connected with a YouTube growth specialist. Within a few months, my channel grew from 400 subscribers to 4,000, and today it has over 400,000 subscribers, generating passive income every month. The real game-changer? I used YouTube as a platform to scale my multifamily investments. By treating it like a business, I could: 🏢 Share content that reached potential partners and investors 🏢 Fund new deals with passive income from the channel 🏢 Avoid costly mistakes by learning from the audience and experts 🏢 Build systems that made investing and operations more efficient The biggest lesson: multifamily investing, like YouTube, is a business. Treat it strategically, implement systems, and leverage the right guidance—and your growth multiplies. For anyone here: combining online platforms with smart multifamily strategies can accelerate your path to financial freedom while minimizing risks.