Updated almost 4 years ago on . Most recent reply
Taking down my first deal
What’s up BP Family! I’m a new investor looking to take down my first deal but still struggle with underwriting a deal properly. I had an 129 unit off market deal in Irving, TX come across my desk and don’t know what to do with it. The owner is looking to retire and has all 5 properties paid off. He’s super old school and the financials are all handwritten. What would you guys advise me to do?
Most Popular Reply
@Bryson Rogan I wouldn't pass it off just yet, at least try and source the deal or connect the owner to someone else who has handled similar transactions and asset classes before. For one, this will allow you to build rapport and develop connections with big-name investors, and two, if the deal were to pencil out and was acquired, you could very well be reciprocated with a finders fee at closing. At the very least, keep the owner in your pipeline so that one day when you are ready to take on large multifamily deals such as this, you have a point of contact. Hope this makes sense and helps!