Chris Burgin is an entrepreneur and real estate investor who owns 650 single and multifamily properties. In 2014, as a way to build a retirement plan, he began flipping properties valued at $800,000 before buying and renting $85,000 properties for the residual income they'd provide. At one point, he had acquired 40 properties, and things just snowballed. Before becoming a real estate investor, Chris owned and franchised a service company.
Buying and renting single and multifamily properties can be a lucrative method for growing a portfolio and maximizing your ROI. However, property management can also be arduous and demanding if the quality of your tenants or properties needs improvement. So, what are the most effective methods for managing properties to maximize profits?
Having owned and operated hundreds of single and multifamily properties simultaneously, Chris Burgin has maintained tenacity when handling difficult tenants and property damages that led to value depreciation. He sets clear expectations with tenants and delegates tasks to property managers and maintenance professionals to manage properties effectively and improve his cash flow. To streamline the process, Chris advises fostering transparent communication and strategic collaboration to build relationships with key personnel.
In today's episode of The Same Day Podcast, Mat Zalk talks with real estate investor Chris Burgin about effective ways to manage multiple properties. Chris shares advice for purchasing rental properties and overcoming the accompanying challenges, how to manage single and multifamily properties to boost ROI, and strategies for collaborating with property managers to build a corporate culture.
