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REIA 55 Josh Sterling: Portfolio Growth and Property Management Innovation

Beginning with one single-family home in 2009 Josh Sterling has grown his portfolio to over 900 units today. He also founded Epic Property Management in 2012 and has used that experience to innovate and create a new standard in the property management industry.

Main Points:

  • -After starting down the path of college, career, buy a personal residence as the “American Dream” I was forced to make a complete 180 and began investing in real estate in an effort to create something I could depend on.
  • -I began purchasing single family homes in 2009 using creative finance (zero percent credit cards, unsecured lines of credit, etc.) and was able to build scale by discovering how to extract the equity from single family homes.
  • -Using the equity I pulled out of single family properties I was able to move into larger multi-family properties and began to build a snowball effect of cashflow.
  • -After gaining experience in larger multi-family properties I began syndicating deals in 2016 when my personal liquidity wasn’t available instead of turning them down as I had done in the past.
  • -Time, snowballing cashflow, recurring liquidity events and syndication have allowed me to grow my portfolio to over 900 units.
  • -Building a portfolio to that size made it necessary to build a property management company and innovate in that industry in order to achieve the best return on investment for my portfolio.

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Josh Sterling Biography

After attending Embry-Riddle Aeronautical University I began a career as an airline pilot in 2005. Throughout the recession the industry was in turmoil and I found myself with a great deal of uncertainty and very little career stability. In 2009 I made the decision to start a business where I would have more control and settled on rental real estate. Starting with one single-family house I slowly added properties one by one until I reached 8-10 properties and started to figure out how to recycle capital through blanket refinances. I used that equity to purchase additional single-family homes as well as to start purchasing mid-size apartment buildings and improving them in the same manor. Continuing on that path I shifted my focus more to the multi-family side over the next few years. As I got more experience purchasing, improving and managing multi-family properties I started syndicating apartment building purchases which provided me access to much larger deals than I would have been able to do with just my own capital. Throughout the course of building my portfolio I found quality property management to be the single biggest factor in our success leading me to form Epic Property Management in 2012. Today I own a portfolio of over 900 units consisting of single family, multi-family and commercial/retail NNN properties. Additionally, Epic Property Management has grown to 4 offices with a staff of 35 employees and manages an additional 250 units across the Metro-Detroit and Toledo markets.