My landlord also owns 11 multi family buildings. He bought them in the early 2000s, in a rapidly gentrifying neighborhood on the Brooklyn waterfront, for 100-20

My landlord also owns 11 multi family buildings. He bought them in the early 2000s, in a rapidly gentrifying neighborhood on the Brooklyn waterfront, for 100-200k each. Each building is now worth 2-5million and he charges 2,800-4,000 per unit (in 6-8 unit buildings) for rent. He told me that he’ll never sell and will keep using leverage to buy up more buildings. My grandmother’a brother bough 2 buildings in the same neighborhood in the early 90s for even less and had them fully paid off by 2000. Each one was making him 20k a month before he sold them for >3 million to developers who will come in and jack up rents by 50-100% on the old people that have been living there the past 15-20 years.