EP095: Tapping into the Millennial Renting Fever with Specialized Apartments - Interview with Todd Simon

It’s a common-known fact in the real estate world that Millennials are not purchasing homes. They have foregone the traditional system of purchasing starter homes, and are renting instead. Today’s guest has cashed in on this new norm, and is here to share his experience.

On this episode of Investing in Real Estate, Todd Simon is elaborating on how he’s built Millennial-focused apartment communities. We’re talking about how Todd got into the business, his real estate strategy, and the benefits of creating a specific product for a specific market. It’s all here on episode 95 of Investing in Real Estate!

More About This Show
Todd Simon is the fifth generation owner of Omaha Steaks, and when I found out he was involved in real estate, I was not surprised. It turns out many smart, successful people have their hands in real estate. As an investor, Todd works on massive multi-family apartment buildings, and is soon moving onto his tenth big-scale project.

After graduating from Wharton in 1986, Todd moved back home to Omaha. He relocated into the city’s vibrant downtown area, which was just beginning to develop at that time.  It was there that he purchased his first and second properties, which proved to him the power of cash flow in the real estate industry.  

He sold those first two properties, and subsequently made a huge profit. A business acquaintance happened to be looking for an equity partner; Todd locked arms with Bluestone Development, and they began building condos and townhomes.

In their partnership, Todd and Bluestone Development realized a niche that was not being serviced in Omaha—Millennials. Many apartment buildings in the area are in suburban settings. The developments have multiple bedrooms, are in highly-rated school districts, and are catered toward families, not Millennials. 

Todd explains Millennials generally want to live near the urban core. They want the option to walk or bike to work. They are drawn to entertainment and amenities. That’s where Bluestone Development stepped up to the challenge. They’ve created a niche-specific housing model that is intentional about serving their client-base.

These properties consist of studio and one-bedroom apartments. In terms of amenities, they include coffee shops, gyms, and multiscreen home theatres. Bluestone Development works to make each development feel like a community. The communities are also in close proximity to bars, restaurants, and other local businesses.  

On today’s show, Todd is explaining the exact numbers on these large-scale products; we’ll discuss ROI, occupancy rates, and more. We’ll also talk about the financing options, and the long-term strategy that he has in mind for his commercial properties. Don’t miss episode 95 of Investing in Real Estate!

If you’re ready to begin building a passive income through rental real estate, book a FREE call with my team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

Millennials are not purchasing homes. They have foregone the traditional system of purchasing starter homes, and are renting instead. Here's how one real estate investor is tapping into that millennial market.

On this episode you’ll learn:

  • What is tax increment financing?
  • How has Todd’s real estate strategy shifted since the housing crash?
  • What is urban infill?
  • How does Bluestone Development manage their properties?
  • How often does Todd take on a new real estate project?
  • Plus, much more about real estate investing!

 Episode Resources
EP019: How to Pay Less in Taxes – Interview with Tom Wheelwright
EP022: How to Maximize Depreciation – Interview with Tom Wheelwright
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