All Forum Posts by: Amy Heitner

Hi @Anson K Au,

Are you wondering about what the qualifications for being able to assume that loan are?

@Justin Cortez, this advice is for multifamily investing which might be on your radar. It comes from Liz Faircloth and Andresa Guidelli, hosts of the Real Estate Invest(Her) Show.

General Team Members

Finding Deals –

• Commercial real estate agent
• Wholesaler
• Marketing team

Finding deals is an essential part of the equation and the above team members are needed. Once a deal is found then a lot more work is required to follow through and make the purchase, the team members listed below are needed.

Purchasing Deals –

• Attorney
• Mortgage broker/Banker
• Insurance agent
• Private Money Partners
• Title agent

Once the property is purchased, it needs to be managed.

Managing Deals –

• Accountant/Bookkeeper
• Local “feet on the street”
• General Contractor
• Construction Manager
• Property Management Company

Now we transition to…

CORE Team Members

These are the people that you are driving your business with, that you do your brainstorming and goal setting with.

You need…

The Hunter

From a multifamily perspective, you need a tenacious person who is aggressive and views the word ‘no’ as a positive step towards getting a ‘yes’. These are the ones out there talking to brokers and who will do whatever it takes to find a multifamily deal.

This is not a quiet, shy and retiring personality type.

The Brains

These are the folks that look at the deal that the hunter finds and underwrites the deal putting it through a thorough screening process to make sure the deal will work in real terms.

The Money

We all know that multifamily investing takes money. So you need a person that has or can build relationships with the people who will invest.

The Hammer

After the deal is closed you need someone to manage the value add opportunity. This will allow you at some point to refinance and pay back your investors. This is the person who makes sure that project happens on budget and on time.

Where Do You Fit In?

You might to some extent fit all these needs but what you want to think about is, what part of this can I handle at a genius level?

The key to building a ‘rock star’ team, not just any team is to figure out what part of this you can do at a very high level. Then surround yourself with others who can do their part also at genius level.

Are you the hunter, the brains, the money or the hammer?

Hi @Jeff Quinlan,
I got some great tips from a recent podcast with investor John Casmon about choosing the right markets to invest in. He recommended a site called datausa.io where you can punch in the city and instantly get fantastic data from population to poverty rates. You can do direct comparisons between areas. The detail is awesome, stats about employees, growth, economy, wages, wage distribution, etc. Awesome resource, check it out.

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Todd Heitner, CEO of Apartment Investor Pro, is giving away the secrets learned from more than two decades of building websites and more than 15 years of building websites specifically for real estate investors.

The 7 point checklist also includes links to all the resources that his team uses so that you can implement each point on the list.

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Hi @Daniel Mendez,

I got some great tips from a recent podcast with investor John Casmon. He recommended a site called datausa.io where you can punch in the city and instantly get fantastic data from population to poverty rates. You can do direct comparisons with another area. The detail is awesome, stats about employees, growth, economy, wages, wage distribution etc. Awesome resource, check it out.

Hi @Stephen Anderson,

Our focus and expertise is in another area so I think you should consult the experts in that area if you decide to pursue the Mobile Home park investing.

To see how we can help you please feel free to look us up online.

Hi @Stephen Anderson,

Regarding your question about resources for mobile home park investing. 

Here are some:

Books:

1. Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank Rolfe
2. Mobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart Silver
3. The New Investor's Guide to Owning A Mobile Home Park by Laura Cochran, Erin Cochran
4. The 21 Biggest Mistakes Investors Make When Purchasing Their First Park and How To Avoid Them by Charles DeHart and Kevin Bupp (available for free from www.mobilehomeparkacademy.com)

Podcasts:

1. The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHart
2. Mobile Home Park Investors with Jefferson Lilly & Brad Johnson
3. Mobile Home Park Mastery with Frank Rolfe

Websites/Blogs:

1. Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson. They focus on mobile home parks and have solid educational content on their website.
2. Mobile Home Park Investors - http://mobilehomeparkinvestors.com - This is the LinkedIn group led by Jefferson Lilly. It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.
3. Mobile Home Park Academy - https://mobilehomeparkacademy.com - This is the educational site that's run by Kevin Bupp and Charles DeHart. They also run an investment firm, Sunrise Capital Investors, that is focused on investing in mobile home parks.
4. BP Member Blog - Mobile Home Park Academy- https://www.biggerpockets.com/blogs/9911-mobile-ho... - This is the BP blog maintained by Charles DeHart from the Mobile Home Academy. In various posts, he walks through the basics of finding and analyzing mobile home parks. In recent posts, he walks through case studies and outlines how to analyze and underwrite opportunities.
5. Mobile Home University - http://www.mobilehomeuniversity.com - This is the site maintained by Dave Reynolds and Frank Rolfe. I recommend subscribing to their newsletter.

Hey @Traolly Xiong,

The Fire Summit event looks legit although I have no first hand experience.

The only thing I noticed is that the testimonials at thinkmultifamily.com about the event are all videos of people explaining why they came to the event and what they are hoping to get out of it.

I didn't find any of people saying that they had their expectations met or exceeded.

Just an observation.

“How Do I Get Into Multifamily?”

I’ve seen a lot of posts lately on the forum asking the question, how do I get into apartment/ multifamily investing?

The skills and experience that you have gained in investing in single family homes will also serve you well in the multifamily investment world.

But the reality is that it’s surprising how little credit you get for your single family investing experience in the multifamily arena.

Although it’s good to get as much information on the differences between single family and multifamily investing as possible, the problem is with how you are viewed by other players in the multifamily world.

So how can you reassure investors and brokers that you have what it takes to play ball in the multifamily major league?

It’s all about presenting an online face that looks like it belongs.

I’m on a mission to help investors make that transition easily.

Check out the link below to get the key that unlocks the door to multifamily investing.

Apartment Investor Pro

Dual agency not ideal but it can streamline the process.