477: Don’t Buy Multifamily. BUILD It!

Older apartment buildings have perpetual upkeep and high expenses. Appliances, roofs, HVAC systems, plumbing etc. have limited lifespans, so there’s always unanticipated expenses. In new construction, you can control way more of the variables and therefore the costs and the profits. Roger Luri, CEO and President of LD2 Development in Chicago, and author of the book “Don’t Buy Multifamily! BUILD IT,” has been in construction since the late 80’s and has seen several challenges in operating older multifamily buildings across many market cycles. Roger has also built a range of new construction projects from apartments, luxury condos, new homes, to mixed use.