Hey People!! New to BP!!! Question about Multifamily deals!!

[Chad G.]

Hey guys and gals -

I'm new to the site. Excited to be apart of it!

Alright, so I'm doing my homework on learning about multifamily properties and how to buy them. Here's what I've done so far.

1. Learned about the financing from a HUGE bank that will go nameless whose initials are WF.....they like horses and stagecoaches.....anyway, financing doest seem that difficult. Basically 25 percent down and the deal has to generate enough cash flow to pay the expenses and the debt. Also they want you to make 25% more than both those which is a good safetynet. 

2. Going to talk to management company this week about what they do and how they can help my endeavor. 

3. I was advised by some friends that are business owners to have an accountant review the financials of the deal before making an offer. They will help me, the inexperienced deal analyzer dude, whether or not the deal makes sense to make an offer. 

My question to this super powerful group of baddass members of this forum is, 1. are these steps good that I've already done...and 2. what other steps should I take to study the business before I go to an agent and start shopping deals....lets hear it people. Ready to learn. 

Thanks for reading my post.