All Forum Posts by: Dennis Bamford

Quote from @Dennis Bamford:

"This is a well-managed property with a low 22% expense ratio and a strong unit mix (11 two-bedrooms). The "value-add" is a straightforward and low-risk operational improvement."

You're already at 22% expense, which is unrealistic in my opinion, supposedly well-managed, but then you say the value add is in operational improvements...you can have both of those things in the same sentence. In my opinion.

Just a suggestion, and I see that others have made the same point; be more conservative when doing the underwriting. It'll save you a lot of grief later on in due diligence.

Hi Dennis,

That's a very sharp and fair point. Thank you for making me clarify my language.
You're right, the low expense ratio points to efficient day-to-day management.
The "value-add" or "operational improvement" in this case isn't about fixing a broken system, but rather about stepping in to capture the final 17% of physical vacancy. The opportunity is to take a well-run asset from 83% to 100% occupancy, thereby stabilizing it at its full potential.
I appreciate the feedback; it's a great reminder to be more precise.

Patrick

I’m working with a seller in Kansas City, MO on a 50-unit multifamily (studio lofts, built 2021).
The seller is open to creative terms, including possibly redoing the existing loan in the buyer’s name or seller financing with a significant down payment and selling Off Market Only.

For those of you experienced with creative financing on larger multifamily:

• What’s the best way you’ve structured deals like this?
• Do you see more success with seller carry, master lease options, assumption of existing debt, or another structure?
• Anything specific to watch out for with lender approvals on a property this size?

Would love to hear how others have approached this, and what creative strategies have worked for you in larger multifamily vs. smaller deals! Thanks!

– Maddy

Licensed Agent, KS & MO | The Bridge Team / 1st Class Real Estate KC

Equal Housing Opportunity

@Dennis Bamford Assignments and wholesaling are similar in that they are both short term strategies designed to raise cash for other longer term strategies such as buy and hold, and fix and flip.  But that's where the similarity ends.
Wholesaling pits the buyer against the seller, as you attempt to negotiate a deal below market value.  Assignments, specifically the Cooperative Assignment, places you on the side of the seller.  You are working with the seller, cooperating, finding a tenant/buyer subject to the seller's approval.  I'm just hitting on the highlights here, but if you want to see an actual deal, hit me up and I'll share it.  That will give you a better idea of what I'm talking about.

Roy,
I've been investing in deals across the US for about the past decade.  Not specifically wholesaling, but using assignments.  Similar to wholesaling in that they are short term deals designed to raise capital, but I find them to be easier than wholesaling and I'm more likely to get a seller to agree to the deal.  An excellent strategy if you're wanting to do deals out of state.

Hello all!

Looking to get into multifamily probably early next year but looking to get good info on investors who invest in the Iowa market. Would love to pick anyone's brain in terms of strategy (i.e BRRRR, cashflow, etc).

You could say I'm doing my own due diligence!

Ever felt like you’re running in circles in your real estate business—working nonstop, but never really moving forward? You're not alone.

Most investors start by doing everything themselves: finding leads, negotiating, handling repairs, chasing paperwork, and wondering why they feel stuck or burnt out. I’ve been there. And after working through hundreds of off-market deals over the years, here’s one hard truth that became impossible to ignore:

Hustle doesn’t scale. Systems do.

Whether you're wholesaling, flipping, or building rentals, having the right systems in place is what allows you to grow and breathe.

Early on, hustle can get you your first few wins. But at some point, the same things that helped you get started—grinding harder, saying yes to everything, doing all the work yourself—start holding you back.

Here’s what that usually looks like: 

 You’re constantly chasing unorganized lead

Deals fall through the cracks due to missed follow-ups

You rely on gut feelings instead of clear numbers

You feel like you're losing money, but can't track where

You're always “busy” but never feel truly in control

Sound familiar? That’s a sign it’s time to step back and build real systems.

The 4 Core Systems Every Real Estate Investor Needs
You don’t need 20 tools or fancy platforms. Just get these four systems right, and everything changes.

1. Lead Flow System

This is where it all starts. If your leads aren’t organized, nothing else works.

Ask yourself:

• Where do my leads come from?

• Are they tracked in a consistent, visible way?

• What happens the moment a new lead comes in?

What helps:

• A simple CRM with clear pipeline stages

• A lead manager or VA to manage follow-ups

• Defined speed-to-lead response (especially for wholesale deals)

Tip: Speed matters. If you’re the only one checking voicemails while juggling 10 other things, good leads are slipping away.

2. Deal Evaluation + Dispo System

Stop flying blind. Every deal needs a repeatable process for evaluating and exiting.

What to lock in:

• Evaluation templates (for wholesale, flip, novation, etc.)

• Exit decision tree: what’s your plan A, B, and C?

• Clear roles: who locks up the deal? Who markets it? Who manages the close?

A lot of deals fall apart simply because no one owns each step. Build the flow. Assign the people.

3. Marketing + Follow-Up System

Deals rarely close on the first touch. The fortune really is in the follow-up. Instead of changing your strategy every 30 days, build a machine that runs consistently.

Solid systems include:

• Automated text, email, and voicemail follow-ups

• Monthly or quarterly direct mail

• VA-led cold call or SMS outreach

• Drip sequences for older leads

Tip: Set it up once. Then let it run.

4. Cash Flow + Project Tracking System

Even great lead flow and dispo won’t save you if your finances are a mess.

What to track:

• Incoming and outgoing money weekly

• Flip budgets, draws, and burn rate

• Marketing spend vs. ROI

• Estimated vs. actual profit per deal

Simple tools like Google Sheets work. What matters is visibility. Don’t wait until you’re overdrawn to realize a project went sideways.

Building a Team (Without Breaking the Bank)

Once your systems are dialed in, you don’t need to do everything yourself. You start replacing yourself—intelligently.

Start with these key roles:

• Lead Manager/VA – Manages the CRM, keeps pipeline moving

• Acquisitions Rep – Talks to sellers, gets contracts signed

• Dispo Rep – Sells the deal and manages buyer relationships

• Project Manager – Oversees renovations or inspections

• Transaction Coordinator – Manages title and closing

You don’t need full-time hires from day one. Start with part-time help or trained VAs. Record your process once using screen-sharing tools, and create a simple training library for new hires.

Tip: Culture still matters, even with remote VAs. When your team understands your mission, they care more. And that shows in your results.

Where to Start This Week?

Don't try to build it all overnight. But do start somewhere.

Here’s a simple 4-step action plan:

1. Write down how you handle new leads today

2. Outline how you currently follow up (or don’t)

3. Record your screen walking through one deal start to finish

4. Choose one system to improve this month

Building a real business isn’t about doing more. It’s about making better decisions, more consistently, with less stress.

my family is looking to start in Wholesaling and wanted to know if there is a good course for Wholesaling that is recommended?

i am a young experienced  landlord located in Northwest Indiana looking to network & pursue real estate full time.