30 min listen
E136: The Secrets to Successful Underwriting - Danny Randazzo
E136: The Secrets to Successful Underwriting - Danny Randazzo
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)
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