A real-estate investor with 150 units says he almost quit after problems like termites, flooding, and tenants selling drugs. He shares 4 tips for overcoming them — and why investing is still '100%' worth it.
But he stuck with it, and now has a portfolio of 150 units.Being a landlord for multiple multifamily properties,One building in particular was a nightmare, Nunez says, and almost caused him to quit real-estate investing altogether.
So he put the building on the market, found a buyer, and was ready to sell it. But the deal fell through while it was in escrow, which ended up being a blessing in disguise for Nunez. He decided he would hold onto it and try to make repairs to the building to force appreciation. In an interview with Insider, Nunez shared four tips for new investors to navigate the roadblocks they'll face.have a reserve of cash
For example, when Nunez found out one of his tenants was selling drugs out of his building, he had to get creative in finding ways to get them to leave because he couldn't prove what was happening behind closed doors, and the county where the building was located had lots of laws that made eviction difficult.
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