Analyzing Income Properties, Especially Multifamily in CA

[Michelle Ong]

Hello, I’m looking for real estate/financial classes, conventions or seminars (even books or other type of material) that focus on analyzing risk and income for multifamily properties, especially in California. We’re a private money lender and looking to diversify our investment strategy to include lending on bigger multifamily buildings and syndication. My 3-year goal is get a CCIM designation but in the meantime, I’m hoping someone can direct me to classes similar to what CCIM offers. Thank you for your recommendations.

[Scott Skinger]

+1 on Neal Bawa

Honestly, the best way to learn how to analyze risk and income for loan purposes is to get "hands on" with it as if you are investing yourself. Anything related to investing in MF is going to be good knowledge for you. If I'm in your shoes, some of the resources that I would use would be:

1. Start with books/podcasts - Wheelbarrow Profits, Michael Blank, Todd Dexheimer, lots of good apartment books and podcasts.

2. Then know the numbers - Frank Gallinelli's book, start reviewing underwriting models...buy one, create your own, talk to people who have experience.

3. Underwrite 50+ deals - learn the nuances that make or break an investment, learn how to be conservative and factor in the unexpected. Ask others for feedback.

4. Talk to a lot of people - brokers, bankers, investors, PMs, everyone has something to share that is more or less relevant to what you're doing and how it impacts the overall investment.