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586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/Andrew Cushman

586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/Andrew Cushman

FromBiggerPockets Real Estate Podcast


586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/Andrew Cushman

FromBiggerPockets Real Estate Podcast

ratings:
Length:
86 minutes
Released:
Mar 22, 2022
Format:
Podcast episode

Description

Want to know how to analyze a multifamily property? Maybe you’ve analyzed duplexes, triplexes, quadplexes, or even ten-unit apartment complexes before, but what about the big deals? We’re talking about multi-million dollar multifamily investments, with hundreds of units, large debt and equity structures, and many, many small pain points only experienced investors would notice.If you’re looking for an in-depth overview of how to find, analyze, and buy a large multifamily property so you can build passive income and serious equity growth, then Andrew Cushman is the man to talk to. Andrew is so good at what he does that he's partnered up with BiggerPockets Podcast host, David Greene, to invest together.In Andrew’s previous episode, he touched on the “phase I underwriting” that comes with analyzing a multifamily deal. In this episode, Andrew focuses on what investors should do after they’ve triaged their deals and are left with only the best in the bunch. Andrew spent years worth of time analyzing deals to come up with these eight steps. He shares them today so you can have less headache and more investing success than when he started!In This Episode We Cover:How to quickly screen for potential hidden gems in the multifamily spaceThe eight steps that lead to perfect multifamily underwriting so you can make the best offer possible“Loss to lease” and using it as a value-add opportunity that most investors missGetting debt quotes, insurance quotes, and accurately calculating future property taxesWho’s opinion you need to ask for before going through on a multifamily dealLooking for the opportunities and traps within a seller’s financesWriting an LOI (letter of intent) and getting bigger deals under contractAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelDavidGreene TeamBiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily DealBiggerPockets StoreBiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew CushmanHow to Find Overlooked Opportunities in a Hot Market with Andrew CushmanAxiom MetricsCoStarALN Apartment DataApartments.comRent.comParks and Recreation (TV Show)David Greene's WebinarsDavid's InstagramAndrew's VisualsExample 1 (Spreadsheet File)Example 2 (Spreadsheet File)Example 3 (Spreadsheet File)Rent IncreasesLoss to LeaseDebt QuoteProperty TaxesRenovation Budget (Spreadsheet File)Connect with Andrew:Andrew's Linkedin ProfileAndrew's Company WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/real-estate-586See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 22, 2022
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.