8 Awesomely Simple Ways to Maximize Your Apartment Building Profits
You’re probably already familiar with the power of commercial real estate by now. For example, if you’re able to increase rents by $50 and decrease expenses by $50 per unit per month and you have a 24-unit apartment building, you’ve increased the income of the property by $28,800 per year. Not that much, you say? […]
Before You Attempt to Manage Your Own Property, Answer These 5 Questions
One result of having the mindset of entrepreneur is that you should not do all of the work yourself, but instead surround yourself with an awesome team and delegate. In particular: Don’t be a PROPERTY manager; be an ASSET manager instead. What’s the difference? If you’re the property manager, you are the manager. If you’re […]
MB 148: Automating Investor Relations as You Scale Your Multifamily Business – With Josiah Mann
As you scale your multifamily real estate business, it becomes increasingly challenging to communicate consistently and manage larger and larger numbers of investors. Today, Josiah Mann of Investor Deal Room joins me to explain how his platform can help you automate your workflow, track leads and build long-term trust with investors!
11 Best Practices to Follow for Peak Rental Portfolio Performance
In my article “3 Key Lessons for Avoiding The Dark Side of Passive Income,” I make the case that no investment is or truly should be passive. The same goes for managing your rental or apartment building portfolio. While you don’t need to be involved on a day-to-day basis, you need to establish a rhythm […]
MB 147: The Unique Perspective of a Financial Planner Turned Multifamily Investor – With Jason Harris
As a financial planner, Jason Harris helped clients prepare for retirement. At the same time, he was building a multifamily real estate portfolio to replace his W-2 income. And last Thursday, he retired from financial planning (in his early 30’s!) to pursue investing full-time. Today, Jason joins me to share his journey to financial independence.
4 Steps to Perform a Rent Survey for Your Investment Property
If you’re ready to take the next step with your apartment building investments, download ALL my resources for FREE at this link: https://themichaelblank.com/vault Getting a handle on the prevailing market rents is critical for the business plan of your rental or multifamily property. Your property’s rents may be under market, but how do you know […]
MB 146: What You Need to Know About Multifamily Financing – With John Brickson
Securing the financing you need can make or break a real estate deal. Today, John Brickson of Old Capital joins me to discuss the most common mistakes investors make when it comes to multifamily financing, the advantages of working with an intermediary, and the differences among Fannie Mae, Freddie Mac and bridge loans.
3 Priceless Contract Negotiation Tips to Keep You in Control of the Deal
Having bought and sold houses, commercial real estate, and restaurants, I’ve made lots of mistakes during the contract negotiation of the transactions. These mistakes can easily be avoided by addressing them properly and up-front in your contract agreements. Standard MRIS contracts for buying and selling single family houses are typically adequate for handling the vast […]
MB 145: Luring Passive Investors to Raise Money for Multifamily – With Tim Bratz
Raising private money is a lot like fishing: You put a lure in the water and then wait for the investors to come to you. Today, multifamily investor Tim Bratz joins me to discuss the current opportunity around raising capital for apartment buildings and explain how he grew a 2K-unit portfolio in just 42 months!
The Anatomy of an Awesome Offer Package for Your Next Multifamily Deal
When you make an offer, you want to put your best foot forward. If you and your offer are taken seriously, there is a better chance you’ll have your contract accepted. Your offer package should achieve two goals: (1) communicate the terms of your offer (of course), but also (2) build your credibility. If your […]