He's an educator and does make money selling education, but like most of the others doing this, he began by doing deals.

It was actually more of a townhouse (just zoned as a condo).

Plus, that is the cheapest that money will ever be for you.  2.65% interest rate? 

Once Apartments.com is going the money comes without much thought. i check on the first to see that the transaction has initiated then again on the eighth to see that the money deposited.

I actually just did a live stream yesterday on my channel (youtube.com/@brady_morgan) that went over this exactly.

My advice would be, if you truly want to learn the business, lease it up, refinance, pull some money out, and go on to the next one.

So, that was a waste of time and money, right?

Conventional, after two hard money people fell through How did you add value to the deal?

The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).