How Smart Value-Add Investing Creates Better Multifamily Returns with Jim Buck

And like you said, we talked before starting to record, you care about the residents and making sure that they're the ones that are going to be actually staying and paying, right? Yes, and

I think...

When I look for a property, I look for certain things.

And some of those triggers are things that triggered me when I was in that space.

For instance, I looked at a really beautiful property that had been updated.

It's not that I really wanted to buy an updated property, but it had a unique feel to it.

It had a retro look.

But one of the problems was it had no parking.

And I tried to park just to go look at the property, and I was beyond frustrated.

And I thought, well, geez, if I'm going to have tenants here and they're going to live here, they're going to be frustrated every day when they come home after five, six o'clock at night when everybody else is already there.

Where are they going to park? So it's little things like parking.

And it could be as simple as as an Amazon locker or something simple that people ask for.

But if you don't want to do it.

You're not going to attract the type of tenant that you want to attract.

And it's not just about having a tenant.

It's having the right tenant that wants to stay and not walk in 12 months or less because those turnover costs, it just snowballs.

And that investor that wants that return will not receive what they expect.

It'll be much less.

And so I think that's why...

Looking at the little things and looking for those opportunities and taking a B or C class that may just be older and doesn't have the nicer finishes, but putting those finishes in the property makes all the difference.

Agreed.

Yes.

And so and another way that you're different, too, when I speak to CPAs, a lot of times, you know, they they are more interested in the numbers and more their personality profile, I would say, is a little more on the passive side.

But but you're different.

You want to be out there negotiating, right?