5 Principles I Live By as a Multifamily Investor
If you’ve been in the multifamily game for more than five minutes, you’ve probably realized that most of the real work doesn’t start until after the deal closes.
That’s one of the first lessons I ever learned—and one of the first “Festos” I teach investors in my network.
This week on the Heartland Multifamily Show, I sat down with my son, Isaiah Garman, to break down five key principles from my “21 Festos” Manifesto—a list I’ve developed after decades in the trenches as a multifamily investor.
These aren’t just catchy phrases. They’re truths forged through experience, cash flow, headaches, and hard decisions. Here’s a taste of what we covered:
Festo #1: Once the deal closes, the work is not done—it’s just beginning.
Too many investors breathe a sigh of relief after closing, as if the finish line’s behind them. In reality, the work begins now: managing operations, improving the property, and serving tenants. This mindset shift separates amateurs from pros.
Festo #2: Landlords should build as much wealth as they want.
Real estate investors are often guilt-tripped into believing that profit and compassion can’t coexist. But here’s the truth: Wealth creation and impact are not mutually exclusive. If you want to grow a real estate empire, grow it. The market rewards those who provide real value. And there’s no shame in getting paid for that.
Festo #3: Landlords are business owners, not a safety net.
If your tenants don’t pay, and you’re not prepared, that’s not a charity—it’s a failing business. Emergencies happen. But as an investor, you need to build reserves, set policies, and protect your business. You can choose to show grace, but it must come from a position of strength, not obligation.
Festo #4: You make a real impact by providing housing.
Real estate isn’t just about numbers. At the end of the day, we’re providing one of the most basic human needs—shelter. When done well, multifamily investing creates jobs, revitalizes communities, and gives people homes they’re proud to live in. That’s impact at scale.
Festo #5: Always think long-term.
Short-term thinking leads to short-term wins and long-term headaches. Multifamily is a long game. You’ll never go wrong by focusing on steady growth, sustainability, and building something that outlasts you.
If you’re looking to start or scale in this industry, ask yourself: Are your investing principles built for the long haul? Or are you stuck chasing the next shiny object?
These five Festos aren’t just reminders. They’re how you stay focused when the market shifts, tenants complain, and your inbox fills up with new problems. They ground you in what really matters.
You can catch the full episode on YouTube for the deep dive.
And if these Festos resonate with you, turn on your notifications so you can be the first to know when the new episode drops.
