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E136: The Secrets to Successful Underwriting - Danny Randazzo

E136: The Secrets to Successful Underwriting - Danny Randazzo

FromThe Investor Mindset - Name Your Number Show [$]


E136: The Secrets to Successful Underwriting - Danny Randazzo

FromThe Investor Mindset - Name Your Number Show [$]

ratings:
Length:
42 minutes
Released:
Jul 30, 2020
Format:
Podcast episode

Description

 KEY TAKEAWAYS1. The basic philosophy of investing: 1. Preserve capital and 2. Buy cash flow producing assets for long term gain. 2. When finding a deal look at the market itself and identify the fundamentals that you want from that specific market. 3. Some key fundamentals to look for in a good deal are: 1. Location 2. The business plan 3. The economic growth of the investment area 4. Seller performance  5. Occupancy 6. Income 7. Expenses 4. At this moment in time be conversative with your cost reduction estimates and general underwriting 5. How to judge a market´s future performance: Look at market rent performance and sub market fundamentals reports that are available via brokers. This can tell you what rents will be like and what rental increases there are. 6. Always have an underwriter on your team who can verify all the data and financials when analyzing a market or property. 7. Stress test the deal. Look at return metrics like: vacancy & occupancy numbers, interest rate, expenses and exit cap. 8. You could be saving money on the performance of your property by reducing costs on administrative expenses such as internet, cable and phone packages. 9. You don't have to know a mentor to benefit from their teachings or knowledge. Take and create your own inspiration.  BOOKSFirst a Dream - Jim Claytonhttps://www.amazon.com/First-Dream-Jim-Clayton/dp/0972638903  LINKShttps://dannyrandazzo.com/https://www.instagram.com/danny.randazzo/https://www.facebook.com/dannyrandazzo/https://twitter.com/dannyrandazzohttps://www.linkedin.com/in/danny-randazzo-61126449/
Released:
Jul 30, 2020
Format:
Podcast episode

Titles in the series (100)

What does it take to succeed when others fail? We explore the stories on Investing that you don’t often hear: The trials and challenges that lead to success and the Mindset it takes to make it. We’ll learn from some of the best investors and entrepreneurs, learning through fire-walking their experiences so we can each setup up our game and be our best self. We focus 80% on the motivation & mindset that leads to success, and 20% on the investing strategies & tactics that get us there. About The Host: Steven Pesavento Real Estate Investors & Entrepreneur has always been obsessed with understanding how we can think better, how we can be better and how we can do better. He fought against those limiting beliefs, that held him back and jumped in to Real Estate with no experience. By modeling the mindset & actions of leaders he looked up to, his Real Estate investing his business exploded, buying 150 houses in his first two years, over $22 Million in real estate transactions. Personal development for real estate investors. Model the top real estate investors, house flippers, multifamily syndicators, wholesalers and landlords. We invite guests from all industries to share their mindset with our incredible community. Join the insider club at: https://TheInvestorMindset.com IG @Investormindset https://Facebook.com/theinvestormindset