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Mar 2022
1h 25m

586: The 8 Steps That Will Stop You From...

BIGGERPOCKETS
About this episode

Want to know how to analyze a multifamily property? Maybe you’ve analyzed duplexes, triplexes, quadplexes, or even ten-unit apartment complexes before, but what about the big deals? We’re talking about multi-million dollar multifamily investments, with hundreds of units, large debt and equity structures, and many, many small pain points only experienced investors would notice.

If you’re looking for an in-depth overview of how to find, analyze, and buy a large multifamily property so you can build passive income and serious equity growth, then Andrew Cushman is the man to talk to. Andrew is so good at what he does that he's partnered up with BiggerPockets Podcast host, David Greene, to invest together.

In Andrew’s previous episode, he touched on the “phase I underwriting” that comes with analyzing a multifamily deal. In this episode, Andrew focuses on what investors should do after they’ve triaged their deals and are left with only the best in the bunch. Andrew spent years worth of time analyzing deals to come up with these eight steps. He shares them today so you can have less headache and more investing success than when he started!

In This Episode We Cover:

How to quickly screen for potential hidden gems in the multifamily space

The eight steps that lead to perfect multifamily underwriting so you can make the best offer possible

Loss to lease” and using it as a value-add opportunity that most investors miss

Getting debt quotes, insurance quotes, and accurately calculating future property taxes

Who’s opinion you need to ask for before going through on a multifamily deal

Looking for the opportunities and traps within a seller’s finances

Writing an LOI (letter of intent) and getting bigger deals under contract

And So Much More!

Links from the Show

BiggerPockets Forums

BiggerPockets Youtube Channel

DavidGreene Team

BiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal

BiggerPockets Store

BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman

How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman

Axiom Metrics

CoStar

ALN Apartment Data

Apartments.com

Rent.com

Parks and Recreation (TV Show)

David Greene's Webinars

David's Instagram

Andrew's Visuals

Example 1 (Spreadsheet File)

Example 2 (Spreadsheet File)

Example 3 (Spreadsheet File)

Rent Increases

Loss to Lease

Debt Quote

Property Taxes

Renovation Budget (Spreadsheet File)

Connect with Andrew:

Andrew's Linkedin Profile

Andrew's Company Website

Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-586

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