Multi-family millions : how anyone can reposition apartments for big profits

Description

Make money while you have a day job ... and never be a landlord! Abstract: Multi-Family Millions offers expert advice for investors who want to make the transition from single-family homes to more profitable multi-family units. Successful real estate investor David Lindahl shows you how to find troubled properties that are ripe for quick profits, how to fix or flip those properties, and how to re-sell at maximum value.  Read more... Content: A different approach that creates huge real estate profits -- Why invest in apartments? : Apartments set you free Let's explode the no-money-down myth More myths about apartment investing This is not a myth, this is reality: they'll laugh first, and you'll laugh last Opportunity is everywhere A brief overview of the different kinds of multi-family housing Burned-out landlords are great sources for deals -- An overview of how to get your first deal : The 14 steps to acquiring a property : 1. Decide what size buildings you'll start investing in 2. Decide where you want to invest 3. Determine what types of multi-family properties you'll buy 4. Put your team in place 5. Market to get your deal 6. Analyze the deal 7. Create the offer or letter of intent 8. Negotiate the deal 9. Create and sign the purchase and sale agreement 10. Do your due diligence 11. Renegotiate the deal 12. Start your financing 13. Choose a management company 14. Close the deal Option 1: Buy and flip Option 2: Buy and hold Option 3: Buy, reposition and sell -- Where to find enormous profits from repositioning : It's all about raising the NOI Problems to look for Making a change Then there's the perception Send the message that change is happening The property cycle A common repositioning mistake The two main reasons why repositions fail The city cycle revitalization zones -- How to attract deals to you with a minimum of time and money : Principle #1: Make it easy to do business with you Principle #2: Do what you say you will do Principle #3: Don't be a pain In the Butt Inexpensive deal-attraction techniques Go directly to the owners Other techniques that cost little but bring big results Go after the don't wanters Cruising for dollars Another way to cruise Oh so many ways to get deals Don't make these three mistakes -- Separating the gold mines from the land mines : The power of negative thinking Profiting from value plays How to find, and profit from, burned-out landlords Profiting from management nightmares Properties that need repair: Where the gold is Avoid certain repairs Solving high-vacancy problems: once and for all How I filled 400 units How to raise rents at takeover and not lose your tenants How to raise rents steadily while keeping your tenants When it makes sense to clean house -- How to analyze a property using the fewest numbers for the most profit : Back to the cap rate Analyzing Your first deal How do we know it really is a deal? Current management: when to hold 'em and when to fold 'em What matters the very most to tenants Is someone putting lipstick on a pig? Let's look inside Market area inspection The sidewalk tells the story But what if my numbers are off? Don't get depressed on me! -- Where to get the money for all your deals : Why banks like apartments Three flavors of lenders Conduits When to use a mortgage broker Putting your package together How to get partners to fund your deals The big, profitable world of private money Debt versus equity deals. Twelve negotiating secrets of the pros : 1. Be prepared 2. Understand the other party's needs 3. Set your goals and rank them In order of priority 4. Decide what your strike price is and don't exceed it 5. Anticipate the next move and don't avoid haggling 6. Remain calm and unemotional 7. Build rapport and trust 8. Create a win/win environment 9. Remain flexible and open to options 10. When the seller speaks, listen closely and delay your response 11. Demonstrate empathy 12. Silence is golden -- The 80/20 rule of rehabbing : Exterior improvements Interior improvements How to get the most from insurance claims dealing with contractors -- How to avoid being a landlord: Secrets to hiring great property managers : How to find the best managers What you should expect to pay Repositioning managers: a special breed How to get contractors to beg you for business Managing the manager: reports you should get regularly You're an asset manager -- Reselling for huge profits : Return on equity Is your property stabilized? Get your financial house In order Get your physical house in order Time to tell the world Your obligations as a seller -- The 10 biggest mistakes repositioners make, and how to avoid them : Mistake #1: Running out of money during a repositioning Mistake #2: Leasing up too soon Mistake #3: Not using licensed contractors Mistake #4: Not getting three bids Mistake #5: Assuming the lowest bid is the best bid Mistake #6: Not going after private money sooner Mistake #7: Not marketing consistently Mistake #8: Discriminating Mistake #9: Not having signing authority on bank accounts Mistake #10: Buying a property with environmental issues Mistake #11: Inspecting the property yourself Mistake #12: Managing the property yourself Mistake #13: Using fill-in-the-blank legal forms Mistake #14: Dealing with tenants Mistake #15: Thinking you know it all -- Creating your success team : Real estate brokers The property manager Attorneys Property inspector Appraisers Lender Contractors Insurance agent Demographer 1031 specialists Accountant -- Next steps on your road to wealth : How impatient are you? The absolute shortest shortcut to real estate wealth Free bonus materials for you.