Weekend Boot Camps For Commercial Multi-Family training

3 Replies

Hey BP Members! I have an extensive background in business as well as management, but no experience in the commercial multi family business. I've been in the construction industry for 25+ years and can walk a property pretty well and estimate rehab costs close to +/-$1000 before I even put it to pen and paper. I've also built my share of Spec homes and did well at that, too. That being said, I hear a lot of people on the BP webinars and podcasts that say I need experience before jumping into the commercial multi family business. If I pick the right team - Property Manager, Lawyer, Accountant, Broker(even though I have my own Real Estate License), I'm the GC, what kind of other "experience" would I need?

@Scott Morongell suggested that I attend a weekend "Boot Camp".  What do you all think?  

Does anyone have any suggestions?  I'm all for that If someone knows of one that is worth the money.  One thing I can't stand is attending one only to get to the end and they want to sell you another one at twice the price and on and on until I'm broke.

Jim

Account Closed  Thanks for the reply Mike. I believe in my underwriting abilities as well.  My biggest concern is no experience with tenants and the laws governing them.  There are too many laws/rules out there to mess up on if you're not in the management space all the time.  That's why I would hire a Property Manager.  Lawyer and Accountant is self explanatory.  I guess what I'm getting at is that I DON'T want to be the smartest man in the room, yet I'm having trouble seeing the difficulties in purchasing multi family units.  It makes me a little apprehensive that I'm missing something.  The only difficulty that I see right now is actually finding a deal in this market, yet I'm sure there are plenty out there.