What You MUST Have in Place Before Seeking Out Your First Apartment Deal

What You MUST Have in Place Before Seeking Out Your First Apartment Deal

1 min read
Matt Faircloth

Matt Faircloth, co-founder and president of the DeRosa Group, is a seasoned real estate investor. The DeRosa Group, based in historic Trenton, N.J., is a developer and owner of commercial and residential property with a mission to “transform lives through real estate.” DeRosa creates partnerships to finance select real estate investments and has a proven track record of providing safe, profitable investment opportunities to their clients.

Experience
Matt, along with his wife Liz, started investing in real estate in 2004 with the purchase of a duplex outside of Philadelphia with a $30,000 private loan. They founded DeRosa Group in 2005 and have since grown the company to hundreds of units in residential and commercial assets throughout the East Coast. Under Matt’s leadership, DeRosa has completed tens of millions in real estate transactions involving private capital, including fix and flips, single family home rentals, mixed-use buildings, apartment buildings, and office buildings.

Matt is an active contributor to the BiggerPockets Blog and has been featured on the BiggerPockets Podcast three times (show #88, #203, and #289). He also regularly contributes to BiggerPockets’ Facebook Live sessions and teaches free educational webinars for the BiggerPockets Community.

Matt authored the Amazon Best Seller Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money. The book is a comprehensive roadmap for investors looking to inject more private capital into their real estate investing business and is a must-read for anyone looking to grow their business by using private lenders and equity investors. Kirkus, the No. 1 trade review publication for books, had this to say about Raising Private Capital: “In this impressively accessible introduction to a complex subject, Faircloth covers every aspect of private funding, presuming little knowledge on the part of the reader.”

Matt and his wife Liz live in New Hope, Penn., with their two children.

Education
Matt earned a B.S. in Industrial and Systems Engineering with a minor in Business from Virginia Tech. (Go, Hokies!)

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Before you jump into watching my video, I really want you to answer this question for yourself: “Are you ready (really ready) for your first apartment building deal?”

This is a big question that needs to be answered before you begin looking for that apartment building deal. I can’t stress this enough. So many people think they can “fake it until they make it” when investing in apartment buildings. In my experience as an investor, you need to be prepared to be successful and effective in this business. You need to have things in place before investing in apartment buildings.

Related: 12 Creative Ways to Add Major Value to Apartment Buildings

3 Things to Have in Place Before Hunting for Your First Apartment Deal

Colin Powell said it best: “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”

In today’s jammed-packed video, I whiteboard three critical areas you MUST have in place BEFORE you go hunting for that apartment building deal:

  1. Your Team
  2. Money
  3. Market

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Let’s get some discussion going! Anything else I should have in place before going out and hunting for that apartment building deal?

Thanks, as always, for watching my videos!

So many people think they can "fake it until they make it" when investing in apartment buildings. In my experience as an investor, you need to be prepared to be successful and effective in this business. You need to have things in place before investing in apartment buildings.