You can't be running the business all by yourself within a vacuum.

Use the three-step framework.

Buy right, manage right, and finance right.

Yes, the goal is to buy the 10 unit, the co-founders of Jake in Gino. And in this how to video,

we're going to be discussing how to scale your multifamily business. Now, I'd like to start off the

podcast with one of my favorite quotes from a mentor of mine as we were scaling our company. We went from that first 25 unit property

within five years, the I'm a guys, I'm going to do this, I'm going to do that. Jake and Gene are

at 500 units. Our hairs on fire. We don't know what the hell we're doing. We're growing,

but we're not scaling. And I'm going to talk about the difference between growth and scale.

And all of a sudden, from 500 to a thousand, and we quickly realized the quote that we want to

really live by, revenue is vanity, profit margin is sanity, and cash is king.

My Italian father once told me, it's not what you make, son, it's what you keep.

Boy, ain't that the truth, dad.

And when our mentors hit us with that quote, it really made a lot of sense.

In multifamily, you always hear people saying, how many doors you have, how many doors you have.

Well, for us, the metric we're really focused on now is PPU, profit per unit.

We want to hit between $250 and $300 in profit per unit.

What's left over after all the bills are paid? That's money in our pocket.

So we really adhere by that. Now, the whole growth and scaling, we actually were really privileged

and had the honor of interviewing Mike McCallowitz. Mike McCallowitz has created that profit

first series. It's a great book. Go look up Mike McCallowitz. He's got

several books out there. And in the podcast, he talks about the difference between growth.

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