All Forum Posts by: Kyle Mitchell

@Chris Virgil-Stone We ended up moving forward without the bank statements but did ask them to certify the rent roll.  Ultimately, after our due diligence and the feedback from our property management company we agreed it was a good deal and that the RR was accurate.  After close everything was fine and all of the income was accurate.

Do you want the financial power of multifamily real estate working for you?

If so come join us. We invest in apartments in cash flow markets that simply make sense (or dollars!). Our members have closed properties in markets such as AZ, TX, FL, GA, IN, IL, OH, MD, MO, ID, UT, & TN. Apartment investing is a team sport. So come join the best team around, the Multifamily Masters.

This group is for anyone interested in investing in multifamily apartments. Our group started in Southern California and now we hold monthly meetups across all across the nation. Locations include:

Baltimore, MD
Camarillo, CA
Downtown Los Angeles, CA
Long Beach, CA
Marina Del Rey, CA
Pasadena, CA
Manhattan Beach, CA
West Los Angeles, CA

Day and times vary by location. For the most up to date schedule and venue please visit the events page.

Hope to see you all there!

FB: https://www.facebook.com/groups/mfmasters

URL: http://www.multifamilymasters.com

LinkedIn: https://www.linkedin.com/groups/12112739

Are you new to Real Estate investing but don’t know how to start? Perhaps you an experienced investor with properties but you aren’t getting the returns you desire. Are you interested in cash flow, value-add properties, and opportunities outside of CA? Do you want the financial power of multifamily real estate working for you?

If so come join us. We invest in apartments in cash flow markets that simply make sense (or dollars!). Our members have closed properties in markets such as AZ, TX, FL, GA, IN, IL, OH, MD, MO, ID, UT, & TN. Apartment investing is a team sport. So come join the best team around, the Multifamily Masters.

This group is for anyone interested in investing in multifamily apartments. Our group started in Southern California and now we hold monthly meetups across all across the nation. Locations include:

Baltimore, MD
Camarillo, CA
Downtown Los Angeles, CA
Long Beach, CA
Marina Del Rey, CA
Pasadena, CA
Manhattan Beach, CA
West Los Angeles, CA

Day and times vary by location. For the most up to date schedule and venue please visit the events page.

Hope to see you all there!

FB: https://www.facebook.com/groups/mfmasters

URL: http://www.multifamilymasters.com

LinkedIn: https://www.linkedin.com/groups/12112739

This meetup is for anyone interested in networking with other Multifamily/Apartment Real Estate Investors. The format will be an open round table discussion where each person will be able to ask/answer the following questions to the group. The goal is to add value to each and every person and to help with any needs/issues they may be having in Real Estate at the current moment.

-GOALS - What are you doing right now that will move you forward in the next 30 days?

-RECOGNITION - Describe what you accomplished personally, or in your business, this week.

-NEEDS/WANTS - Ask for anything you need. For example, "I need to find a good CPA or Property Management Company" or "I am looking for a deal with this criteria"

-OPPORTUNITIES - If you have a deal or an opportunity for the group you can let everyone know about it and see if anyone would be interested in hearing more or even partnering with you on the deal.

This group is specific to Multifamily investing and those who want to connect with other like-minded individuals in this space!

1. Are you new to Real Estate investing but don’t know how to start? Perhaps you an experienced investor with properties but you aren’t getting the returns you desire. Are you interested in cash flow, value-add properties, and opportunities outside of CA? Do you want the financial power of multifamily real estate working for you?
   
   If so come join us. We invest in apartments in cash flow markets that simply make sense (or dollars!). Our members have closed properties in markets such as AZ, TX, FL, GA, IN, IL, OH, MD, MO, ID, UT, & TN. Apartment investing is a team sport. So come join the best team around, the Multifamily Masters.
   
   This group is for anyone interested in investing in multifamily apartments. Our group started in Southern California and now we hold monthly meetups across all across the nation. Locations include:
   
   Baltimore, MD
   Camarillo, CA
   Downtown Los Angeles, CA
   Long Beach, CA
   Marina Del Rey, CA
   Pasadena, CA
   Manhattan Beach, CA
2. West Los Angeles, CA
3. Newport Beach, CA
4. Yorba Linda, CA
5. Phoenix, AZ

Day and times vary by location. For the most up to date schedule and venue please visit the events page.

Hope to see you all there!

FB: https://www.facebook.com/groups/mfmasters

URL: http://www.multifamilymasters.com

LinkedIn: https://www.linkedin.com/groups/12112739

1. Are you new to Real Estate investing but don’t know how to start? Perhaps you an experienced investor with properties but you aren’t getting the returns you desire. Are you interested in cash flow, value-add properties, and opportunities outside of CA? Do you want the financial power of multifamily real estate working for you?
   
   If so come join us. We invest in apartments in cash flow markets that simply make sense (or dollars!). Our members have closed properties in markets such as AZ, TX, FL, GA, IN, IL, OH, MD, MO, ID, UT, & TN. Apartment investing is a team sport. So come join the best team around, the Multifamily Masters.
   
   This group is for anyone interested in investing in multifamily apartments. Our group started in Southern California and now we hold monthly meetups across all across the nation. Locations include:
   
   Baltimore, MD
   Camarillo, CA
   Downtown Los Angeles, CA
   Long Beach, CA
   Marina Del Rey, CA
   Pasadena, CA
   Manhattan Beach, CA
2. West Los Angeles, CA
3. Newport Beach, CA
4. Yorba Linda, CA
5. Phoenix, AZ

Day and times vary by location. For the most up to date schedule and venue please visit the events page.

Hope to see you all there!

FB: https://www.facebook.com/groups/mfmasters

URL: http://www.multifamilymasters.com

LinkedIn: https://www.linkedin.com/groups/12112739

This event will include hosted beer & wine by CBRE.

5:30 - 6:00pm - Networking

6:00 - 6:15pm - Introductions/Announcements

6:15 - 7:00pm - CBRE Market Overview of Phoenix, AZ

7:00 - 7:30pm - Case Study: Phoenix 28 Unit Heavy Value Add

7:30 - 8:00pm - Networking

There's no doubt economies of scale come into play here as you mentioned. One of the major factors that I see is the professional management available for 5-20 units vs the larger multifamily. Typically these smaller properties do not generate enough income to make it worthwhile for the professional management companies to manage. Therefore, people end up either self-managing or hiring an under-qualified manager like one who mainly manages SFR's. SFR"s and MF are two completely different animals. In this case you not only have an under-qualified manager but are likely also paying higher wages for service calls and maintenance because there is no in-house staff so you are paying a premium.

@Doug Karkow I agree with @Greg Dickerson.  Talk to the seller and see how you can get creative with the $200k he was going to carry.  The great part about real estate investing is you can be as creative as your mind allows.  I would start with Greg's suggestion of converting the carry to equity.

@Tyler Kastelberg I am quickly learning that outsourcing is a necessity.  Although I have not outsourced much at this point we do plan on outsourcing many of our tasks.  Over the next 12 months I would like to outsource the following tasks.

-Accounting

-Underwriting/Modeling

-Podcast editing/posting/booking

-Social Media/Marketing