#06: Two Multifamily Investors Were Walking Down the Street . . . . (find out what happens next on this week's podcast) with Jeff Greenberg

podcast Jun 05, 2019

How would you like to hear two seasoned multifamily investors talk about their past experiences? That's exactly what happens in today's episode with Jeff Greenberg. We talk about everything from our first deals all the way to our worst deals!

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Two Multifamily Investors Were Walking Down the Street . . . 

When I talk with Jeff Greenberg, I feel as though I'm talking with an old friend of mine. Jeff was an original student of mine. He first became my student in 2009 and ultimately, made his first deal in 2010. 

Jeff owns 300 student housing units in various locations around the country. He also recently closed on 225 units in Amarillo, TX. While I don't prefer to invest in Texas, Jeff likes to call it the landlord friendly state. 

Over the course of the episode, we talk back and forth between our first deal and our...

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#05: Making the Big Move - Single to Multis with Seth Ferguson

podcast May 06, 2019

It's no secret that if you want to build massive wealth one of the easiest ways to do it is through multifamily investing. Today's guest, Seth Ferguson had been investing in single family home but learned that if your tenant moves out you no longer have an income stream until you find your next tenant. Whereas with multifamily investing you have multiple streams of income to help minimize the loss from a vacancy. Seth will walk you through how he went from investing in single family home to multifamily properties. 

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Making the Big Move - Single to Multis

Before Seth started as a real estate investor, he was on the brokerage side as an agent. Seth quickly learned as an agent that when...

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#04: Cost Segregation Made Easy for Multifamily Investors with James Liechty

podcast May 06, 2019

As a real estate investor, you're always looking for ways to save money and generate more cash flow. Today's guest, James Liechty will walk you through how he helps his clients use cost segregation to save millions. 

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Cost Segregation Made Easy for Multifamily Investors

To start, you may be asking yourself what cost segregation is. Cost segregation in the simplest terms is the acceleration of depreciation. Accelerated depreciation is good because it helps you pay a lesser tax to the IRS. It makes sense to do a cost segregation when you can make additional deductions. However, when you're a passive investor your deductions are limited. 

When does it make sense to do a...

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#03: Rags to Riches in Multifamily with Rennie Gabriel

podcast May 06, 2019

You may think that in order to become a successful real estate investor, you have to start in your 20's or 30's. Today's guest, Rennie Gabriel proves that to be wrong. Rennie was flat broke when he was 50, even having to use a coupon to buy a burrito for his wife. I'm proud to say that today, Rennie is financially free and can live however he chooses. Listen to today's episode below to learn how to build a multifamily investing empire from nothing.

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Rags to Riches in Multifamily

Rennie has quite a unique story. I first met him when I was out in Southern California. Since then he's become a great friend of mine and someone who proves that it doesn't matter your age, you can build wealth on...

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#02: Day Trading for your Multifamily Real Estate Business with Larry Goins

podcast May 06, 2019

While I've heard some unusual ways to raise money to invest in multifamily properties, my guest Larry Goins has the story that tops them all. Larry was able to generate cash from real estate day trading that allowed him to invest in multifamily properties. Larry story is one that defines that it doesn't matter where you start, all that matters is where you end. 

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Day Trading for your Multifamily Real Estate Business

The first thing Larry mentions when it comes to real estate day trading is that you always have to be generating leads. The more leads you generate the greater chance you have of finding a property that works. One way Larry generates leads is through direct mail. 

Once...

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#01: The Seven Rules of Multifamily Real Estate with Bob Damigella

podcast May 06, 2019

In the world of multifamily investing, there are certain rules that you should follow. These rules are tried and tested. In today's episode, I speak with Bob Damigella on the seven rules of multifamily investing. 

                                   Listen to all our episodes and leave a review: HERE

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The Seven Rules of Multifamily Real Estate

  • Rule 1: The biggest lie in multifamily is the asking price 
  • Rule 2: Life's too short to buy "C" class properties
  • Rule 3: Owning multifamily property changes your life 
  • Rule 4: You can fix anything on a multi-family property except overpaying for it - NEVER OVERPAY
  • Rule 5: You can find deals in your own backyard
  • Rule 6: Always remain in control of the deal
  • Rule 7: If you’re not making offers then this nothing...
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Preventive Maintenance Plan

blog May 05, 2019
One of the things you need to prepare for when you are making the transition to ownership is a Preventative Maintenance Plan. Kate Dobens discusses how Preventative Maintenance is part of the day-to-day operations of running your apartment business and how you must prepare for it. Another example of what you can learn on an Owner Forum Monday Night Group Coaching Call!

These are things that you need to prepare for, when you're making the transition to ownership. Now this is something that you know, Preventive Maintenance Plan. It comes up when you're buying, taking over the property. You want to be diligent and you want to do everything right. You want to make sure you're showing your investors that you're managing the property correctly. 

So you set up a preventive maintenance plan along with your property manager and the maintenance man. In that way, they know that in every single month or every quarter or every six months, they have to go and change filters or that type of...

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Two Questions Before Making a Multifamily Offer

blog Mar 24, 2019
What two questions must you be able to answer before you make an offer on any multifamily deal? When my students bring me a deal to review, I always ask these two questions. If they know the answers without giving it a second thought, make the offer. If they can't - MOVE ON!

Here are the two questions you've got to ask yourself when you're analyzing any deal. 

When I get into the Cash Flow Analyzer software and receive the offering memorandum from students, I start looking at it and call them up. As soon as we discuss it, they can't even answer the first question. If they can't answer the first question, most likely they can't even get to the second question. So let me tell you what it is that I'm talking about. 

The first question is, what's my exit strategy? Why am I buying this property? What is it about this property that excites me? If I'm going to sit in front of a group of investors, I can say, “this is a good deal, because…” You've always got to...

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What is "Good Income" vs. "Bad Income" in Multifamily and Apartment investing?

blog Sep 07, 2018
Taken from one of the Multifamily Investing Academy's Owner Forum weekly group coaching calls.

I want to come up with a rule that everybody can use and keep in their back pocket. When you're analyzing a deal and you're trying to figure out exactly what to do, you can apply this rule and it's going to give you the answer towards how this works.  

So, what is the rule that we apply to make a determination? What you learned was that to capitalize the income, you increase the value of the property, and you pay more for it if you do it wrong. You don't want to be in that situation! So what rule can we use to come up with a solution so we know exactly how to do it?

Here's a new rule : If the tenant modifies their behavior the next month and then the income disappears, it's not income worthy of capitalization (ergo, it's Bad Income). 

So always ask yourself the question - What if the tenant changed their behavior? What if the tenant started to perform under the terms of...

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Multifamily Expense ROTs and Ratios

blog Jun 22, 2018
Assigning a contract in Pennsylvania may cost you transfer taxes
Expense Rules of Thumb and Ratios

One of the first things that we talked about is what we call the Pennsylvania transfer taxes. One of my students was asking me a question and I thought his question was ridiculous. Then, he posted the same question on the Whatsapp group with all the other OWNER FORUM members on there and they all thought his question was ridiculous. His question had to do with transfer taxes. 

What he was planning on doing was signing the purchase and sale contract in the name of ABC LLC, his entity. When he goes to buy the property, the bank wants him to sign a contract to the entity that is getting a mortgage who is going to own the property, 123 main street LLC. So all he does is just take one piece of paper that says assignment right on the top. And he goes through it. And he says, OK, I assign this contract from ABC LLC to 123 main street LLC and transfer. So both are done. 

He got on...

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