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I bought a 21-Unit Apartment in 2020... Here's EXACTLY How Much it Made in 5 Years

Adriel Hsu

136,591 views

Need My Help With Real Estate Investing? ➡️ https://go.propertyhsu.com/a68cde0d

I breakdown my 21-Unit BRRR Deal and show all the numbers over the last 5 years of ownership.

Multifamily real estate investing is a challenge but can be well worth it!

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20 Comments

@adrielhsu Creator 3 months ago Pinned

Need My Help With Real Estate Investing? https://go.propertyhsu.com/a68cde0d

@barnstar2077 3 months ago

It looks nice, but it is a shame you couldn't keep a bit of green space in the middle, it would have looked amazing!

@OrlandoMiner 2 months ago (edited)

You mentioned the $3.3M appraisal, but that was priced off a sub-4.5% cap rate back in 2022. Current Houston multifamily cap rates are sitting around 5.9-6% (per Colliers/CBRE data), and that 4-range was really a 2021 cheap-money moment more than a Houston fundamentals thing. I personally dont believe Houston should have ever been at 4 caps and wont go back. The real cap rate is 6%-7%. Running your own trailing NOI numbers at a realistic 6% cap: 2025's $80K NOI puts value around $1.3M, and even your best year (2022's $180K NOI) only gets you to about $3M. Which in opinion is a tough sell. Unless you waiting 10yrs for rent increase, but also you have to deal with insurance getting ridiculous. Since you're carrying a $1.98M loan, you'd need NOI to climb back to roughly 2022 levels just to break even on a sale. Then when you add in class B and a fire repair...😢. Good thing is you have time and honestly for this deal or any deal thats a blessing.

@burd7455 2 months ago

How did I instantly recognize that was Houston just from the thumbnail?

@benlogan2270 2 months ago

H-Town baby!!!! 713 day is on Monday! This is great bro, congrats on your success, keep it up!

@chadlawrence5865 2 months ago

Great job Adriel. Great explanation for us dummies who are interested in multi home purchases.

@NadeefSimply 3 months ago

Great break down man

@Twhite076 1 month ago

Your tshirt looks like it’s on backwards

@AGTHEPHOTOPLUG 3 months ago

Great video man really good information. Definitely subscribed.

@HannahYarbrough-u4c 2 weeks ago

Funny everyone else can buy commercial real estate when I I do it it’s a problem… Houston is officially holding me back in life …

@Realtalkwithhashamtahir 2 months ago

Five years is the real test on a BRRRR, year one numbers almost never tell the whole story.

@CurtisWashington-jj7xy 2 months ago

Great job! Looks really good

@jasonalba7679 2 months ago

Good Video. Really Informative.

@allhailepicface123 2 months ago

I appreciate the brass-tacks explanation of your rationale with the property, super insightful. I won't be in the position to look for investments for another few years, so do you have any books or resources you would suggest to develop my knowledge in the meantime? (If I were closer to investing I would just buy your coaching)

@LinWin-w4m 1 month ago

I watched a few of your videos and noticed something that I think deserves your attention. It’s not necessarily obvious when you’re looking at your own channel every day, but it stood out to me pretty quickly. If you’re curious, I can explain it.