David Lindahl and Multi-Family millions

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David Lindahl and Multi-Family millions

Realtor · Hermitage, TN · Member since 2014 · 125 posts · 93 votes

I am wanting to break into commercial and Multi-family seams like a good place to start. I would like to hear from some of the people that have attended recently what they think. I have read 3 of his books and done his at home course from a a couple years ago. Here are some of my questions:

Is David really still doing it himself. Seams odd to have a gazillionare take 3 days to educate us peons.
Is there material in the live course that is not in the material.
is Dave offering to help fund deals with private money he as raised?
1. If yes, what are the parameters that the deal must meet? I fear an impossible expectation.
2. Also what is the cost of the money? Would I be better getting payday loan to cover my purchase?
3. Does this private money assistance come with the course, or do I need to join the Gold Club, or some similar upgrade.

I have bought several Kits, Courses, and programs. Many of them good, but some were worthless. While I could use some help to get a commercial portfolio going, I don't consider myself a newb. I just want to invest my time and money wisely.

Thanks

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Investor · New York City, NY · Member since 2013 · 263 posts · 141 votes

I bought the course two years ago and found it very informative. However, I did not like that they took so long to get back to me (1 mos) which left me hardly any time to find a deal and also I found the parameters unrealistic for the amount of time allotted. Below is what they require

Partnering with Dave...

Must be in an Emerging Market

The complex must be 150 units and above

Must be under 5 million

Must be at least 85% occupied

15% Cash on Cash return-on actuals

Cap Rate of 8.25% or higher

Debt Coverage Ratio of 1.6 or higher

1. If the student puts money in and Dave puts money in then it’s a 50/50 split

2. If the student puts up all the money but wants Dave expertise then it’s a 75/25 split

3. If Dave puts up the money and the student finds the deal it is 25% student/75 Dave split.

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Lelith Walker
Investor · New York City, NY · Member since 2013 · 263 posts · 141 votes
10y
I bought the course two years ago and found it very informative. However, I did not like that they took so long to get back to me (1 mos) which left me hardly any time to find a deal and also I found the parameters unrealistic for the amount of time allotted. Below is what they require
Partnering with Dave...
Must be in an Emerging Market
The complex must be 150 units and above
Must be under 5 million
Must be at least 85% occupied
15% Cash on Cash return-on actuals
Cap Rate of 8.25% or higher
Debt Coverage Ratio of 1.6 or higher

1. If the student puts money in and Dave puts money in then it’s a 50/50 split

2. If the student puts up all the money but wants Dave expertise then it’s a 75/25 split

3. If Dave puts up the money and the student finds the deal it is 25% student/75 Dave split.

Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes

I work for Dave Lindahl. In the past 6 months Dave has bought 3 apartment complexes in 3 different states total 1,000 units the FL one he partnered with a student. He also bought 3 office complexes.

The live course is a review of the home study use lecture and case study methods analyzing deals. Students find the networking to be great often finding money sources and people to work with.

Feel free to connect with any questions.

Paul

OP

Realtor · Hermitage, TN · Member since 2014 · 125 posts · 93 votes

@Lelith Walker, those requirements seem really high. Have you found any that meet that? Whit 15% COC, I think I could raise considerable funds at my local REIA.

Investor · New York City, NY · Member since 2013 · 263 posts · 141 votes

I did not find any deals. I only had two months left and that criteria does not work in the state that I live in. I did travel out of state to see if I could find something but it takes time to network and build a team in another state.

Eleena de Lisser

Rental Property Investor · Philadelphia, PA · Member since 2014 · 130 posts · 77 votes

@Roger Poulin I've attended a couple of Lindahl's events, but have never signed up for his mentoring/coaching programs. I do know several people who have paid for Lindahl's coaching but were disappointed and didn't get the results they were expecting. Part of the problem is the initial coaching period is 6 months. That's really a very short window for brand new investors to gain any sort of traction and successfully get something done. To extend the coaching, Lindahl's company charges a monthly fee to maintain access. You won't get coached by him personally. He farms that out to a team of people.

Lindahl has a large business operation with a lot of employees. In other words, a lot of overhead. His events are pitchfests with a constant upsell to his coaching program. During his multifamily millions event, I'd say there's about 25% actual content related to apartment investing and the remaining 75% is Lindahl giving a motivational pep talk based on his life experiences mixed in with a stream of video testimonials.

Last year Lindahl announced he wouldn't be doing all the multifamily millions presentations himself and that one of his team members would now be presenting at those events, so you might not even get to see him in person if you go this year.

Lindahl's events attract a large number of people, so if you go, you will meet other people curious about apartment investing. The only problem is that a lot of them are newbies and will probably know very little about real estate. I did find that Lindahl's "Ultimate Partnering" event held every August in Boston attracted a more experienced caliber of investor and the networking at that event was of a better quality than his multifamily millions events.

If you want to tap into Lindahl's knowledge, I recommend his books on multifamily investing. They are decent introductions, although a little outdated with some of the info about emerging markets.

Good luck!

Tanzeela Qureshi

Edison, NJ · Member since 2015 · 28 posts · 2 votes

I have attended some of his webinars, there are so many different coaching investors out there, it's hard to choose. thank you for that information.

Rental Property Investor · Honolulu, HAWAII (HI) · Member since 2011 · 4k+ posts · 2k+ votes

I think Lindel is one of the top 3 certainly top 5 in the MFH arena. Unlike the SFH gurus I think training is more worth the price of admission for large MFH due to the 10x factor.

Mike HurneyPro Member

Real Estate Investor · Boston, MA · Member since 2009 · 2k+ posts · 542 votes

@Roger Poulin It's still a fair amount of work to find, analyze, and underwrite MFHs.

I believe he has a program where Dave finds the Deal, Analyzes and Approves the Deal, Buys and Operates the MFH but he keeps 100% of it;-)

Dexter Williams

Contractor · Douglasville, GA · Member since 2016 · 4 posts · 2 votes

I'm new to BiggerPockets! Great info everyone!

Arlington, VA · Member since 2013 · 115 posts · 40 votes

What does Dave consider an "emerging market"?

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

I think the issue is more people sign up for this type of program than there are deals to do.

especially in a thinly traded asset as large multi.. plus its complex and competitive.

I have no doubt some find a nugget but can you have 200 people in the class and even half of them are going to go find a deal.. ?

I do have one client in Chicago that I don't think he has done any with Dave but he has used his training to buy smaller units in that market.

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Ned CareyPro Member

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Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes

Dave Lyndahl is one of the "Gurus" I have respect for. I have seen him speak and have some of his materials and books. He gives quality information and not afraid to share the bad with the good.

However as @Jay Hinrichs points out this is not an easy business. IF you do not have significant capital it is tough to break in. Yes you can syndicate a deal but that means finding an even better deal so there is enough profit for both you and the investors.

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

@Ned Carey my client in Chicago credits Mr. Lyndahl with his success in the industry.. and I know not all Gurus are bad ...

my thought process is based on the criteria expressed above.. that is a pretty thin slice of the real estate pie to go and find.

especially with the intense competition these days for multi.. obviously there area deals.. but can a room full of people really expect that each and everyone of them will land one ?

that's the question.. but take the info and mold it to your market and or something that is a little easier to bite off if your a new or newer investor.

And to be fair my client had made it in another business he had PLENTY of capital.. And business acumen.

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Real Estate Agent · Chicago, IL · Member since 2013 · 386 posts · 218 votes

Everything you need to know is in the books.

Never buy anything other than the books and Real Estate.

Attorney, Investor and Real Estate Agent · Houston, TX · Member since 2010 · 30 posts · 24 votes

Originally posted by @Nick Patterson:

Everything you need to know is in the books.

Never buy anything other than the books and Real Estate.

By books, do you mean his retail books, or the home study course?

Hutto, TX · Member since 2017 · 3 posts · 1 vote

I attended Dave Seminar when I ask question they escaped to answered some of questions .They advised me to go their Boot camp. I think that a ******** pitchsales seminar. You cannot master anything for 3 days booth . Mastery will take a month or a year it will depend how fast you will absorb the knowledge. I am just thinking they are doing networking and farming some peoples money for there own interest. My advised get a local mentor that has a results or has a great experienced that may help you to lessen the risk in investing.

Member since 2018 · 1 post · 0 votes

I went to a 2-hour seminar May 2018 in Florida. Had the worse experience of my life! When I entered the ball room the music was so loud I thought I was in a night club. The people at the back of the room were on their phones and watching some video laughing. They were not very professional at all. But I was interested to learn. Finally, the speaker came up. So Much for MY LEARNING!

The speaker Greg Rocheleau was his name just looked so cocky and arrogant! You know one of those 40-year old’s acting like he’s 20 and at college frat party.

Greg starts off saying he doesn’t speak in front of people he started in this business when he too went to a seminar just like this in Detroit. He said he worked in the car industry in Windsor.

Now I do believe that is Windsor Ontario Canada! Thought I noticed that accent AY!

He said that he’s done over a 100 deals. His first one was in 90 days from when he started. That went on for about ½ hour and it seem like another ½ hour about him talking about this son and Dad and how he sends his dad to Florida every year. Oh, not to mention his Boat and how he loves the Detroit river. I bet! What he loves is the tunnel crossing between Canada and the U.S.

He was just Pushy about getting $1,500.00 for a boot camp! He also said there is a 90 day Guarantee no tur it’s only a 14 days guaranty. But remember Dave will mentor you personally. So, I decide to do my homework and found this site. Thank you all! I did not lose my $1,500.00 or yet $50,000.

I like Dave Lindahl books, but he needs some people that represent him and his company better. Maybe Someone who Lives in the United States and owns Real Estate here in this USA! And people with Real Estate experience no Sales and defiantly Not a bunch of KIDS!

Professional · Murrieta, CA · Member since 2013 · 405 posts · 458 votes

Please PM me if you would like some info on Dave Lindahl. I am not a fan.

Anthony Chara, Brad Sumrok, Lifestyles, Rod Khleif, Jonathan Twombly, and Than Merrill all have great programs and you won't have to dance with a dirtbag.

OP

Realtor · Hermitage, TN · Member since 2014 · 125 posts · 93 votes

@Jillian Sidoti I agree with you about Anthony Chara. He does his own presentation in small groups (<30) so you get time with him.

I do not agree with you about Than Merrill and Fortune Builders. I attended his free 2 hour seminar where they tell you about the secret 3 step process (buy, fix, sell). Loud music and about 100 minutes of sales pitch for the boot camp. another 10 minute on the gold package. I later heard from one of the people that did sign up that to buy everything it was $50,000, and the first thing they teach you is how to raise the limit on you credit card.

I suggest to take $1,000 and join your local REIA, and take some veteran investors to lunch. Then take $5,000 a month and invest it in postcards and yellow letters. You will be miles ahead of the guy that maxed out his credit to make Than rich.

Full disclosure - I am working with a marketing coach.

Robby SanchezPro Member

Contractor · Austin, TX · Member since 2022 · 110 posts · 40 votes

I never understood how taking people out to lunch gets you anywhere. It just seems like you're trying to buy their attention. I've heard that it works though. Seems that raising the capital is the hardest part. My plan is to start small and gain some credibility until I can present opportunities to investors without feeling like a relationship counselor who's never been in a relationship lol

[email protected]510-736-8429

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