Closing on our first 12-unit

[Melissa N.]

It has been a long year of searching, making mistakes, learning, and more learning. But we are closing on our first 12-unit building on December 12th. Rents are between $80-100 below market so we should be able to force appreciation after doing some work and pushing rents up. 

Could not have done this without BP and everyone that answered my constant flow of questions. Persistence is the key to success. Cheers! 

[Melissa N.]

@Alok Sood - I'll private message you the details. Happy to help answer questions.

@Tyler Lyons - YES! If you are looking to do an apartment deal talk everyone that will have you and ask lots of questions. I'd start by:

- Listen to TheMichaelBlank.com for the 10-minute offer 

- Listen to JakeandGino.com and create a credibility book (this got me awesome financing because I could talk to the talk and had a well thought out business plan. 

- Use the BP calculators. I probably ran 1000 properties.  I'm very analytical and so it took that much to make me comfortable, just keep at it until you see the one you cant pass. 

- Use Raidsonline for crime stats. This will help you learn an area too. 

- Use Rentometer for initially identifying market rents.

- Use City-data for street by street data on an area. (Again, I'm analytical haha).

- I'm not going to self-manage but I'd also read "The Book on Managing Rental Properties" because there are a ton of great forms for creating systems and working with your property manager. 

Happy to chat if you need help.