How to get past 4-figure cash flow onto 6-figure paydays.
Jan. 26th - 27th, 2019
Sheraton Grand Phoenix Downtown Hotel
340 North 3rd Street, Phoenix, Arizona 85004
Expert advice on apartment syndication.
  •  Nuts and bolts of apartment syndication
  • Complete CF and IRR underwriting
  •  Property visit

Ben Leybovich

Successful multifamily real estate investor and syndicator, bestselling author, teacher. 
Ben Leybovich

Sam Grooms

CPA with publically-traded multinational experience, successful apartment syndicator, and house flipper.
Sam Grooms
"Your underwriting consulting program has turned my real estate investment approach completely... I am now closing on $1M commercial real estate at a 40% discount! Once again, thanks for all the knowledge and value you brought to this my business." ~Abdiel L.
Event Timeline
Friday, January 25
7:00pm - 9:00pm
VIP Dinner
Saturday, January 26
8:00am - 9:00am
Registration, Bagels, & Coffee

9:00am - 12:15pm

12:15pm - 1:15pm
Catered Lunch

1:30pm - 4:45pm

5:30pm - 6:30pm
Networking Event
Sunday, January 27
8:00am - 9:00am

9:00am - 10:00pm
Underwriting Questions

10:00am - 12:15pm
Speaker Interviews

12:15pm - 1:15pm
Catered Lunch

1:30pm - 4:45pm
Bus Property Tour

5:30pm - 8:00pm
VIP Pool Party & BBQ
"For the longest time I was looking for a seminar on underwriting and kept getting disappointed. Then I attended Ben’s Multifamily Underwriting Workshop and was blown away! Ben really shows up to teach. He walked us through and explained the underwriting process in a way that makes sense. Ben lets the market tell the story and uses logic to translate the story into the numbers on a proforma.  And he wasn’t boring either, Ben uses his sense of humor to keep you engaged. Ben delivers, its as simple as that." 
~Thomas C.
Detailed Curriculum
Day 1 - Saturday, January 27
On Saturday we will tackle the underwriting. If we assume that you have an ability to buy, the central question is - should you? Is the deal good enough? This is where most of the mistakes are made. By the end of the day you will think of real estate in a way you hadn’t imagined before - like a pro!
9:00 AM - 10:30 AM
  •   Stabilized Underwriting Model
  •   Underwriting of Gross Scheduled Rent 
  •  Economic Losses
  •  Underwriting of OpEx
  •  NOI and CapEx Reserves 
10:45 AM - 12:15 PM
  •  In-Depth Model
  •  Stabilized NOI 
  •  Stabilized Cap Rate 
  •  ARV 
  •  CapEx Reserve 
  •  Profit Margin 
  •  Strike 
1:30 PM - 3:00 PM
  •  Prepayment penalty discussion 
  •  GSE vs. Portfolio Lenders
  •  Bridge Loan 
  •  Equity Required to Enter 
  •  Pro Forma Exit , 3-Year, 5-Year, 10-Year
3:15 PM - 4:45 PM
  • Income Summary Pro-Forma
  •  LTL Adjustments During Stabilization 
  •  Physical Vacancy Adjustments During 
  •  Stabilization 
  •  Property Taxes 
  •  IRR
Day 2 - Sunday, January 28
On Sunday, we we will focus on the transition from theory into practice. Having gained a lot of perspective on the finer points of the underwriting methodology and process, what does that really look like in reality? We will also host a panel of four guest speakers covering the four resources you'll need to complete a deal: finding a deal, addressing legal requirements, funding the deal, and managing the asset. 
8:00 AM - 9:00 AM
  •  Underwriting questions & previous day follow-up
9:00 AM - 12:15 PM 
  •  Interview with our real estate broker
  •  Interview with our securities attorney
  •  Interview with our mortgage broker
  •  Interview with our property manager
  •  Time to ask questions of our panel
1:30 PM - 4:45 PM
Now that you’ve seen the numbers and have heard from all of the players that make a deal come together, we will be taking all of you to our property via a quick 20 minute bus ride. 

As you tour the 98-unit, Ben and Sam will take you back through all of those numbers in the underwriting and you’ll be able to gain a sense of the “the story”, as Ben likes to call it. You’ll know what was there to begin with, what the business plan was, and see the execution in person. The complete picture!
See What Clients Say About Our Two Full Days of Pure Instruction and Education
"We initially connected with Ben on BiggerPockets after hearing his pod.casts and reading his articles. Ben’s approach to investing resonated with us as he focuses on the marathon instead of the sprint of real estate investing.

Earlier this year, we got under contract for a 40-unit apartment out-of-state. It was a huge first deal for us and we wanted a sanity check on our underwriting and overall strategy. We arranged a consult with Ben, ithin four 90 minute sessions, our underwriting evolved and we had much more clarity on the deal.

We continued to develop our relationship with Ben, keeping him updated on our progress. When the opportunity came for us to invest with Ben on an apartment complex, we felt confident in doing business with him and volunteered to help in any way possible. We were fortunate enough to join Ben as partners! Together as a team, we raised the capital to acquire a 98-unit property in Phoenix. We went from the G-League to the NBA!

Working with Ben and his partner, Sam, was engaging and straightforward. We already knew Ben's underwriting model and could immediately understand the numbers and story behind the deal.

We almost skimped out on the consulting session to save money while under contract for the 40-unit. Had we done that, we would have been on a different path. The relationship we fostered and the knowledge we gained has paid for itself many times over." ~Jeff & Tommy

"I have 'known' Ben for years now. I remember hearing his story for the first time on the BiggerPockets podcast. I finally got to meet and have dinner with Ben at his Multifamily Bootcamp in 2018.
I have attended several multifamily events over the past year, read hundreds of real estate books, and interviewed a handful of Authors on the topic. I feel that Ben is on the top of that list in terms of education, transparency, honesty, and taking a “deep-dive” when it comes to multifamily investing.
I truly believe his presentations offer the most value for price of admission. I feel most “coaches” offer 90% of the investing information, only to get you to the event so they can up sell you on the last 10% of the investing picture. I was able to learn that last 10% with Ben during his 4 sessions as he taught me to button up my underwriting model. He also taught me to understand the current financial condition of the asset, how likely it is to behave in the future, and underwriting all parts of the deal. He is a very intelligent and highly analytical investor. Ben is the person you want on your team underwriting the deal with you." ~ Scott Hollister | The Book Club Interview

What to Expect
There Will Be Absolutely NO Upsell or Pitching!!!
20% of Gross Proceeds Go to Charity
Each year we select a deserving charity to sponsor as part of our Phoenix Syndication Workshop. This year we’ve picked A Hero’s Home Inc., whose mission is to build free and clear housing for our servicemen and women.

Sam and I are thankful for the freedom, safety, and opportunity we enjoy every day. The ability to work on what we want, when we want, and with whom we want is both a pleasure and a privilege.

Our military men and women, first responders, policemen, firemen, and others sacrifice every day on our behalf and have earned a big thank you from all of us.

Sam and I will donate twenty percent (20%) of all gross proceeds from this event to A Hero’s Home Inc. Helping to provide a free and clear home to a deserving serviceman or woman is the least we can do! 

Event Pricing and Tickets
Choose from General Admission and VIP tickets.
General Admission
  •  Entry to All Sessions
  •  Bus Property Visit
  •  Lunch for both days
  •  Access to Networking Social on Saturday Night with 2 Alcoholic Beverage Tickets
VIP Admission
  •  Everything in General Admission
  •  Preferred Seating in the first two rows
  •  1 Dinner Event with Sam and Ben (includes dinner and 2 drinks)
  •  Poolside Party and BBQ at Sam’s House on Sunday Night
  •  Limit of 16 VIPs!
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