One of the major cons is that a multifamily real estate is management intensive.
So, whether it comes from improving it, leasing up tenants, operating it, it is very intensive. So, you need to have a good partner or property management company that is able to do that effectively and efficiently. So, when you’re in the single family realm, you’re dealing with one unit, and if you had one hundred units of those in different areas, you’d have to be very management-intensive to get to all those units.
Multifamily is under one umbrella, but it still presents a management-intensive business on turning units when things are destroyed or, when leases expire, getting those refresh and released, whether it comes to just ongoing long term capital improvements…
A roof, think about doing that rather than on your own personal home, but on a large, you know, two hundred and fifty apartment community, it just presents a more management-intensive process from knowing the construction side, how you’re budgeting, what repairs you have to make, and so having efficiencies built into your process and how you manage that or having an effective partner that can do that well is really vital.