All Forum Posts by: Robert Rixer

Firstly, becoming a multifamily agent is a fantastic way to learn the business first hand while making some cash in the process. It's probably one of the most underrated ways to learn and eventually become an investor yourself. See which firms are doing the most business in your community and reach out to them. As far as educational material, there are some good courses on underwriting in Udemy. A lot you can find for free on YouTube. Steer clear of any 4-figure courses or gurus. Multifamily is not rocket science.

A lot depends on the product. Many agency lenders won't touch anything below $2M and even then could be unfavorable terms. If your asset is older and/or smaller, you may have better luck with local community banks or credit unions.

With on market deals like this, there are two scenarios: 1) you see something that no one else sees OR 2) everyone else sees something you don't

Firstly, never underestimate the power of having low leverage on your property. It's far superior being underleveraged than overleveraged. Second, don't get hung up on what if's. If you find an actual property that looks like a homerun and would warrant a HELOC, then you can go for it without reservation. I would avoid buying a property for the sake of buying a property. Be patient!

You've answered your own question. If your gut is casting doubt on it, you need to listen - even if you can make mathematical sense of it.

2-4 units cashflowing in today's environment is very tough, namely due to high prices and high interest rates. Rents have gone up but nowhere near enough to overcome it. Any listed property that claims it would cashflow is likely in rough condition in a tough area.

Insurance market across the country is very tough, especially for older product. A lot of buildings don't have a carrier willing to insure at all. The term "reasonable" is going to be redefined.

So many newer investors are obsessed with underwriting models as though the most intricate and complex model will deliver the holy grail. The real art of underwriting is understanding that all the inputs are merely probabilities and deciding whether or not you can sufficiently offset the risks.

I always love to see the positive attitude - that's half the battle. Good luck

Personally I'm against these types of programs, especially 5-figure ones. But I think it's about expectations. A lot of people go in expecting these programs to completely change their lives. If you're just going in to learn, you could probably gain some value.