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Everything You Need to Know About Multifamily Syndication With Ben Leybovich and Sam Grooms
HAHAHAHA Listen, if you belong to that very strange yet very large group of people we refer to as the Millenials, you will either laugh your rear off and learn a whole bunch form this, or you will learn nothing ...
3 DAYS LEFT to Get the PSW Underwriting Model
Ladies and Gents, I announced last week that: All Registrations for the Phoenix Syndication Workshop processed prior to October 15th will Receive the PSW Underwriting Model. 3 DAYS LEFT This powerful spreadsheet goes away after the 15th! ...
New Podcast – An Honest and In-depth Conversation
Guys, I've been fortunate to appear on a lot of different podcasts over the years. All, hopefully, are educational to some extent. Some are quite entertaining. Few are truly in-depth. But, almost none are truly honest to the core... This ...
Early Registration BONUS
Yesterday in I announced the Phoenix Syndication Workshop. Today, a very short but powerful announcement: Registrations Processed Prior to October 15th Receive PSW Multifamily Underwriting Model FREE Extremely Powerful Tool I promise you this is the best underwriting spreadsheet your money ...
Phoenix Syndication Workshop
Phoenix Syndication Workshop If you follow me you probably already know about this. But just in case: On January 26th and 27th my partner, Sam Grooms, and I will hold a 2-day event in Phoenix called the Phoenix Syndication Workshop. I am ...
Multifamily Loan Options for Syndications
There are only three, globally-speaking, options for the type of loan we can get for multifamily. The main distinction comes down to the state and condition of the property itself. Let's discuss. Portfolio Loan Portfolio loans are loans you can get ...
Syndication vs Partnership vs JV
There are 2 basic approaches to structuring a partnership. One is a democracy and the other is a limited partnership. What Is a Democracy A democracy [artnership is one in which all of the members are voting members relative to all ...
What Are the Economic Losses in Apartment Investing
As it relates to things that cost money on a monthly and annualized basis in apartment investing there are two categories of items - those that you stroke a check for every month or year, and those that you don't ...
What’s Better, 30 units with $600 rents or 15 with $1,200 rents
This was a question that came up in the comment section of the latest article I wrote on BiggerPockets. The answer may surprise you. What's Better, 30 units with $600 rents or 15 units with $1,200 rents Let's tackle this question ...
I’m Here on My Soapbox Yelling: “Hey, Fool—Expenses Are NOT Percentages!”
You know that guy with a megaphone, standing atop of a makeshift platform, preaching at the crowd? You’ve read about that guy. You’ve seen him in the movies. Do you know that guy? Well, I am that guy—or at least that’s ...
Multifamily Expenses are Easy
I will not buy small property - period! Why you may ask. Because it's too risky! Two Basic Due Diligence Tasks When buying an apartment building we have two basic tasks relative to the due diligence. One - we have ...
Amazing Power of Capitalization
One of the absolute key advantages of the multifamily real estate is the valuation mechanism. Unlike single family which is valued by way of a process which looks at the sales price of like houses, the value of multifamily resides in ...
Is It Better to Buy Real Estate in Big Cities?
Ladies and gents, SEO is not all that important to me. I am out of that game. But, having said that, I do want Google to pick some of these articles up. Forgive the title - it's beneath me, but ...
How Much Value Add Do You Need
How much value-add do you need? I get this question a lot. Basically, it goes to the core of what is a good deal. Let's shine some light on this briefly. Some theory first Let us underscore in simple terms ...
Making Money in the Delta
I have a dear friend. His name is Darren Sager. His is the first text of the day - each and every day. I wake up, and there it is, on a three-way text thread with him and Brandon Turner ...
How to Finance Large Multifamily
I am deciding to change things up a bit on this blog. Long gone are the days when I cared about SEO rankings and wrote humongous five thousand word posts. Don't care anymore. My life is different now and moves ...
Why Should I Syndicate Apartments in 2018?
As you likely know from my recent announcement, Source Capital in JV with WhiteHaven Capital recently acquired the Silver Tree Apartments - a 98-unit apartment community in Phoenix MSA. A blog is not the best or most proper venue for ...
$8.15M Acquisition Closed!
Ladies and Gents, I am very excited to announce that we just closed on The Silver Tree, a 98-unit value add in Phoenix MSA. This was an $8.15M acquisition, requiring a $1.3M renovation. The asset was constructed in 1984, with a ...
Underwriting Multifamily the Right Way, Part 1
Few phrases are more irritating in the world of real estate than, real estate is all about the numbers. Real estate is as much about the numbers as a painting is about the paint, or a book is about the letters. Letters ...