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Updated almost 4 years ago, 02/25/2021

User Stats

11
Posts
6
Votes
Joseph Mckenna
  • Rental Property Investor
  • Scottsdale, AZ
6
Votes |
11
Posts

Multifamily Investment 101

Joseph Mckenna
  • Rental Property Investor
  • Scottsdale, AZ
Posted

I know I’m aiming high here after only owning 1 residential property, which I am Airbnb’ing right now, but a friend of mine in commercial real estate with 10 years of experience and I are teaming up to buy a commercial property in the Phoenix area. We’re looking at 10+ units and want to structure it so we’re the LPs and we pitch to investors to be the GPs. Yes I know it’s ruthlessly competitive, yes I know it’s a relationship business, and there are tons of all cash buyers coming from California with $3-$4M so my question is how can I develop a competitive advantage here? I’m working with a broker now whose sending me off market deals who has relationships so I’m starting there! But I want to know what I don’t know here. What should I know before pursuing this venture? What are your top 5 do’s and don’ts (autocorrected to donuts which I’ll take too)? How can I ensure a successful deal? I have the excel tools already but want to learn how others are valuing a deal too.

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