Just exactly how does one become a multi-millionaire “managing apartments”?
That was my first thought. This guy was supposedly an accountant, and a heavy gambler???? Somebody better check his books.
I have a good friend who did just that. Started as an apartment maintenance guy after HS - now owns & manages millions of dollars of apts.
Incredible mind for buying depressed apt. bldgs. and turning them into highly profitable ones. Generally doubles the complex value and his money.
#1. Get rid of bad tenants, select only best tenants.
#2. Make complex highly desirable - EVEN if in an undesirable area! Make apts. the most premier in area fixing all deficiencies and adding items increasing desirability. Raise rents.