How I bought 2 apartment buildings in 2 weeks!

[Charles A.]

I was that guy that was buying one or two duplexes a year over 5-6 years. That worked well on the cash flow and financing front. Then I started listening to a podcast by someone on BP. (Can’t mention his name because BP may delete this post) This guy kept talking about “the law of the first multi family (apartment complex) deal”. At first,I thought it was some superstitious nonsense. But I kept listening nonetheless. I also thought I’d need to go the syndication route to ever experience that law in my own life.Huge downpayment,multiple investors et al. Anyway, What I’ve found out is if we are determined enough,we will move mountains. So I pulled out all the dead equity that existed in all my duplexes in multiple cash out refys between May-July 2017. I put the entire $200k into a grade B 18-unit deal in a class A neighborhood in Cleveland OH. That deal closed in September 2017. This last month of July,2018,I closed on 2 small apartment complexes within a space of 2 weeks! A grade B 12-unit in a class C neighborhood of Jacksonville FL and a grade C 16-unit in Cleveland Heights,OH,a class B neighborhood. All the details and every last nuance of this crazy twin deal will be specifically detailed on my next blog post in the members’ blog section. I’m not a designated BP blogger,so you probably won’t find it “featured”.I will however link to it as a comment to this thread once it’s published. So,stay tuned. The law of the fist deal is real,folks! I’m living proof. So just do your first deal first!By hook or by crook. Finally,to the owner of that podcast,(you know yourself): Send me a PM.I’d love to come on your pod to tell your lucky listeners how right you are! And how awesome!! CA.

[Gino Barbaro]

@Charles A.

The law of the first multifamily deal is MOMENTUM. Once you close your first deal, you're in the game and brokers and the entire community will take you seriously. Congrats on the deals.  J Scott says that you either own zero deals or many deals. Very few investors only buy one deal.

Now it's time to scale and seek out private money or continue to Refi & Roll

Gino