There’s nothing passive about investing in older apartment buildings. Appliances, roofs, HVAC systems, plumbing etc. have limited lifespans so there’s perpetual upkeep and surprising expenses are far from uncommon. In new construction, by comparison, you can control all the variables and therefore the costs can be more predictable and therefore the profits. Roger Luri, CEO and President of LD2 Development in Chicago, and author of the new book “Don’t Buy Multifamily! BUILD IT,” has been in construction since the late 80’s and has seen several huge challenges in older multifamily buildings and has experience several market cycles. Roger is an expert and understands the risks of both older multifamily projects and new construction.