As an investor, finding and closing on a deal is only the beginning, and it sets the tone for how the rest of the deal will go. So what criteria should you have to make finding a profitable deal easier? Once you find a deal that's promising, how do you do your due diligence before submitting an offer? In today’s episode, Kenneth Donis shares his bulletproof process for finding and underwriting profitable deals.
Kenneth is the Head of Marketing and Acquisitions in the Donis Brothers’ operation. The Donis Brothers have a little more than 1,000 units under their belt and show no signs of slowing down. Kenneth is responsible for finding those deals, underwriting them, and meeting with brokers. With a growing portfolio, Kenneth’s process has become more efficient, and the proof is in their success.
Kenneth breaks down his process into three parts—creating criteria, analyzing the deal before submitting the offer, and submitting a letter of intent. He explains how to create a buy box based on your budget and the importance of ensuring your overhead is covered. Taking to heart just a few of the tips that Kenneth shares today could put you on the fast track to closing on your next big investment property!
In This Episode We Cover
Creating criteria to find great deals based on your goals and budget
Defining your ”buy box” and what you should include in yours
Multifamily deal analysis and the quotes you’ll need before submitting an offer
Drafting the letter of intent and the key elements to a perfect offer
How to build lasting and beneficial relationships with mortgage brokers
Raising capital from outside sources and using creative financing to fund your deals
And So Much More!
Links from the Show
Ashley's Instagram
Tony's Instagram
Real Estate Rookie Podcast
MLS
Apartments.com
BPCON22
Real Estate Rookie Podcast
Changing Their Family’s Fate by Building a 600+ Unit Portfolio (At Age 20!)
How a College Dropout Got a Seat at the Millionaire Investor Table
Post, Invest, Profit: A Step-by-Step Guide to Content Creating for Investors
BiggerPockets Calculators
Connect with Kenneth:
The Donis Brothers’s Website
The Donis Brothers’s Instagram
The Donis Brothers’s Facebook Page
The Donis Brothers’s Twitter
The Donis Brothers’s Tiktok
The Donis Brothers’s Youtube Channel
The Donis Brothers’s Podcast
Check out the full show notes here: https://biggerpockets.com/blog/rookie-209
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