How I Bought an Apartment Building Without My Own Money
This is my story about how I bought a 12-unit apartment building with money raised from private individuals. Lessons Learned from a Deal Against all Odds and a Nightmarish First Year. Don’t make the same mistakes as I did and learn how to raise money to buy your first apartment building.
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 […]
The Step-by-Step Guide to Making Offers on Apartment Buildings
Are you wondering at what point in the process of evaluating apartment building deals you make an offer and what that looks like? It might seem a bit of a mystery, but let’s shed some light on the matter. What exactly does it mean to “make an offer”? Is it verbal or does it have […]
How to Make an Offer on a Multifamily Deal in 10 Minutes
Don’t waste hours analyzing multifamily deals. Learn how to work smarter, not harder with this step-by-step guide to a 10-minute property analysis.
The Checklist That’ll Help You Save Big During Due Diligence
You have an apartment building under contract, which is awesome. Performing due diligence is an exciting part of the buying process because it means you successfully negotiated the deal (which is not easy to do!) and are now ready to start due diligence to determine if it’s something you want to go through with. But […]
True or False? Find the Deal and the Money will Follow
Newbies are told they can get started with real estate investing by “finding the deal and the money will follow”. But is it really true? Let’s say you have some real estate experience (SFH flips or rentals) and you decide that you want to build an apartment building portfolio to quit your job in the […]
3 Steps to Get a Proof of Funds Letter for Your Next Multifamily Deal
We multifamily syndicators have it tough: we’re asked to make something happen without having all the resources (money and experience) ourselves. So when a broker tells us “the seller will entertain your offer but only with proof of funds” we’re stumped because we don’t HAVE the funds because we’re going to raise it and presumably […]
2 Clever Negotiation Tips to Get More Deals Under Contract
It’s ideal to negotiate directly with the seller in person. You should always work to try to arrange that whenever possible. This allows you to establish rapport and more quickly talk through different scenarios to try to reach an agreement. Most often, however, the broker will make sure you don’t get the chance to do […]
How to Use a Master Lease to Acquire Commercial Real Estate With No Money Down
The vast majority of commercial real estate deals are “conventional” with regards to financing, meaning they are financed with a commercial lender requiring 20% – 30% down. But it’s important to have other, perhaps more creative financing techniques at your disposal because they can get you into a deal when traditional methods fail. One of […]
How To Handle Proof of Funds for Multifamily Investing
I write a lot about raising money from others, especially as a way to get started with multifamily investing even if you don’t have your own cash or good credit. The challenge is that if you’re raising money, chances are that you don’t have the net worth or liquidity to satisfy a seller’s request for […]