All Forum Posts by: Daniel Holmlund

hi @Sippy Hira@Sippy Hira

I also find City-Data.com and BestPlaces.net to be great sources of quick information on an area. Good Luck!

http://www.city-data.com/ 

https://www.bestplaces.net/

Kyle, I believe the best way to get involved in multifamily real estate is to spend a lot of time learning by watching people that are successfully doing it. 

First, read about the process. There are many good books available. Joe Fairless's "Real Estate Syndication Book" and Vinney Chopra's "Apartment Syndication Made Easy: A Step by Step Guide" will give you a good overview and framework to learn. There are course on udemy.com, udacity.com and coursera.com that walk you through different commercial real estate transactions.

Second, you need to find people that are actually doing it. Get on the mailing list of syndicators and find their "deal packages." Read their Private Placement Memorandums, operating agreements and other legal documents. You will learn a ton from them.

Third, find partners that know much more than you do. Until you've had several decades of experience, you should always have on your team someone (or several someones) with more experience than you. This might be a paid mentor or it might simply be someone who knows the industry and wants to work with you, but they should have a track record in the industry that you can use to build you own track record.

Great to hear that the book is as promising as I hoped it might be. I'm a software engineer by trade, and I'm enjoying the academic approach to analysis that this book brings.

hi BP,

I just purchase Peter Linneman's book, Real Estate Finance and Investments. It seems like a great primer on private equity and multi-family investment evaluation. Has anybody else read it?

Cheers,

Hi Valerie. Congratulations on looking to buy your first duplex! With a credit score over 800 you should be easily able to get conventional financing from a bank or credit union. Banks will generally allow up to 10 mortgages on properties by an individual. Forming an LLC has advantages mainly in that it limits your liability. If a lawsuit is filed only the assets in the LLC (the house) are at risk and your personal assets have some protection.

Most lenders will ask you to sign a form that says that you will personally guarantee the loan even if the duplex is owned by your LLC. So the LLC's real benefit is in asset and lawsuit protection, and it usually doesn't affect the fact that the lender will want you to personally guarantee the loan.

Great work. It's always wonderful to hear success stories!

Congratulations @Benjamin Ervin. Thanks for sharing and showing how it's done.

@Jingwen Dunford in your investor presentation it's important to address questions and concerns and upfront and proactive manner. This will minimize back and forth questions that take up a lot of time and it will help your investors trust you. let them know in detail all the different fees that you take and how hard you are working to make their investment profitable.

Let's connect @Justin Goodin

Spencer Burton has some excellent videos and spreadsheets on financial modeling of different types of real estate, including Multifamily.

https://www.adventuresincre.com/re-modeling/excel-models/apartment/

https://www.youtube.com/watch?v=MCyub5sSGt8&t=6s