Multifamily Legacy Podcast 002: Discovering the Secret Language of Apartments
If you are here listening to this podcast, you are probably tired of flipping properties each and every month. I am so excited that you are here, and I am so excited to help you think a little bit bigger and focus on multifamily apartment buildings. For me, the shift came when I asked, “how can I own apartment buildings?” I am here to help you make that mindset shift that will help you to think bigger and to invest bigger. I’m also going to be sharing a lot of secret techniques with you.
In the last episode, I talked about the big picture, I shared my story, and we talked about why you should invest in apartments and the three ways to get paid when investing in apartments. The first episodes of these podcasts are going to be pillar podcasts. There are really six secret pillars for cash flowing apartments. In future episodes, I’ll be talking about the secrets of finding apartment deals, analyzing apartment deals to make money, making offers, funding deals, and how to become a great operator. Today, I am going to talk about discovering the secret language of apartments.
Topics on Today’s Episode:
- The six secret pillars for cash flowing apartments
- ABCs of buildings and grading apartments
- Newer apartments with a lot of amenities are developer and REIT games
- Properties built in the 80s and 90s are B properties
- C properties built in the late 60s and 70s - no washer dryer hookups
- D properties are the war zone, where you don’t want to go at night
- Making money with B and C properties and doing discovery to find them
- Areas are graded A, B, C and D or the war zone areas
- Market cycles and being mindful of current cycles
- Apartments are based on cash - flow not appreciation
- Looking for the best opportunity to make good money and finding emerging markets
- Buying and holding for 3 to 5 years or forever and selling at the peak of the market
- Capitalization rate and buying at a high cap rate
- Managing expenses and having consistent income
- Looking for deals at a good return, making improvements, and making value
Links and Resources Mentioned:
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes. On the next episode, I am going to give a quick shout out to some of my reviewers.