Armchair Due Diligence

You just signed a contract for your first multifamily property, and you are super-excited to start life as a professional investor. You’re incurring legal fees and you’ve just sent the bank a five-figure good faith deposit so it can start paying lawyers, engineers, and environmental specialists to start work on the deal. You’re committed now.

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Your Home Is Not a Real Estate Investment

Home prices are rising again. Should bullish economic predictions bear out, this trend will continue, to the benefit of homeowners and the US economy at large. Rising home prices are good for your net worth, your ability to borrow, and your mental health. But before you rush to get in on this good thing, remember: your home is your castle and where your heart is. But it is not an investment.

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Maximize Your Credibility To Get Your First Multifamily Deal

Everyone who has successfully broken into multifamily real estate (MFRE) investing will agree on one thing: Your first deal is the most important. Why? Because brokers, sellers and lenders will not take you seriously if you’ve never owned multifamily property. You’re a newbie, a tire kicker, a waste of their time. This situation presents a real problem: no one will do business with you when you’ve never closed an MFRE deal, and you can’t close a deal when no one will do business with you. In a very difficult profession, getting your first deal could be the biggest obstacle of all.  But you can overcome it.

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