What Makes A Great Multifamily Investment Property? Community Developer Odell Abdur-Raheem Shares Expert Advice
Investors, tenants, and the community – there are many stakeholders in every multifamily property. Odell Abdur-Raheem – Founder of S.H.A.R.E. Community Development Corp (SCDC) – believes that a project can only be successful when all of these parties win. Here’s his advice on creating a win-win-win scenario in your next (or first) multifamily investment.
Generational wealth can only be built by durable investments: ventures that are proven to hold up against recessions and times of economic uncertainty. Real estate has been an obvious place for shrewd investors to go in the best and worst of times – because no matter what, people need a place to hang their hat and rest their head.
When we get granular, one particular sector of this market seems to stand out when it comes to stable growth. Multifamily real estate investments are well known to stay the course in times of trouble, when families put off buying a home and chose to rent multifamily real estate instead.
We’re in such times now, with existing-homes sales continuing to see decline across America. Interest rates are up – but while owning a home is a luxury, renting somewhere for our families to live is a necessity. This year has already seen average rent prices at an all-time high.
What follows is a clear need for more multifamily developments across the country – which presents an open opportunity for investors seeking a way into this market. But as with anything in real estate, it’s all easier said than done, which is why we’ve reached out to an expert for more information on what makes a great multifamily property.
Odell Abdur-Raheem is the Founder, Chairman, and Chief Visionary Officer of S.H.A.R.E. Community Development Corp (SCDC). With 37 years of combined experience in real estate, development, construction, landscaping, architectural design, investments, and more, Abdur-Raheem and his eclectic team of multidisciplinary professionals are working to revolutionize the landscape of the multifamily market with brand new, Class-A, precast concrete apartment buildings, based out of Texas with expansion plans across the country.
“When I put the system together,” Abdur-Raheem explains, “the first thing I looked at was to make sure the investor is winning, make sure the tenants are winning, and make sure the community is winning.”
From the outside looking in, the world of real estate investing can seem like nothing but a bottom line. But Abdur-Raheem knows that the best way to create lasting wealth is to develop so that everyone (not just investors) can see their lives enriched by a project. When tenants are happy and the project is well integrated into the greater community, that’s when investors have something of lasting value and durability.
“Even though our target audience is our Investor-Purchasers,” he says, “ultimately it's the tenants that live in the property that determines the final success of that project. You have to look at the end product user. What level of quality will the product be? What types of amenities will it have? What's the price point that is going to make all of that more attractive than everything else on the market?”
This is where a dose of creativity can work wonders.
“I always ask what I would want if I had to move back into an apartment,” Abdur-Raheem says. A self-taught designer, the Founder and Chief Vision Officer crafts the initial design of all his projects himself, before sending specific elements to his international network of architects who add to the vision over many iterations.
For Abdur-Raheem, the focus of design centers around a concept he calls Social Community Engineering™. In creating spaces that are hand crafted to develop relationships between the families living in the property, the developer seeks to address one of apartment living’s biggest flaws.
“When you live in an apartment,” he says, “you may not even know your next door neighbor. You may say hi to those people when you pass them in the hall, but you don't really get to know them. That's the difference when you actually own your own home and live in a subdivision. You start to get to know the people, your next door neighbor and the people across the street – that's what makes it feel more like a home. I wanted to try to bring an aspect of that into the apartment living.”
Apartment living is often a transient way of life – people move often. In the US, the average renter stays in one building for just over two years. But by creating communities with his project, Abdur-Raheem seeks to create long-term homes that families can lay roots in.
“When developing multifamily properties,” he says, “my goal is to make people say that ‘I'm never leaving here to go to another apartment. I will only leave this place if I'm moving into my first home.’”
When the tenant is thriving and the community at large is flourishing, that’s when the investor wins big (and continues to do so through both good economic times and bad).
Utilizing Abdur-Raheem’s proprietary capital stack and leverage, potential Investor-Purchasers can now enter the multifamily real estate investing arena where before they either didn’t have enough capital, were not accredited, or were limited in their ability to execute such complex financing and development solutions.
More and more Investor-Purchasers are turning to SCDC due to their low capital entry into a highly profitable, yet fully passive complete turnkey investing model that is truly hands-off and hassle-free. Developing, building, selling, and managing property can rest in the capable hands of SCDC’s team.
Believing in Abdur-Raheem’s vision to build win-win-win scenarios for everyone, Investor-Purchasers have shown great confidence in SCDC thus far by committing to Pre-Sale Agreement purchase orders in excess of $1 billion over the last 6 months. With S.H.A.R.E. Community Development Corp’s upcoming LIVE, FREE webinar being presented by Odell Abdur-Raheem, the company expects to exceed $3 billion in purchase orders for its new multifamily investment models.
If you want to look closer at the elements that make a great multifamily investment property, visit S.H.A.R.E. Community Development Corp’s website, or you can also register to attend the LIVE, FREE Webinar this Friday, September 6th, 2023, or visit SCDCTEXAS.COM.
