Charles purchased his first multifamily property in 2006. In this episode, Charles discusses the mistakes he made with that property and what he would have changed if he were to do it again. Watch The Episode Here: Listen To The Podcast Here: Talking Points: I purchased my first multifamily property in 2006, a 3-family house, [...]

Underwriting is a mix of integrating your estimates as a buyer with the seller's actual numbers. In this episode, Charles discusses the most common underwriting traps. Watch The Episode Here: Listen To The Podcast Here: Talking Points: When you are underwriting a property, you are trying to predict the next 1 – 10 years of [...]

Stress testing a multifamily deal is the process of pushing your underwriting to the point where the deal no longer makes sense. In this episode, Charles discusses the best ways to quickly stress test your multifamily deal. Watch The Episode Here: Listen To The Podcast Here: Talking Points: When we are stress testing a deal, [...]

In multifamily investing, expense ratios are a quick way to gauge how efficiently a property is operating. In this episode, Charles discusses how expense ratios might signal opportunity and also hide a potential problem. Watch The Episode Here: Listen To The Podcast Here: Talking Points: Previously, in episode SS273, we discussed the basics of what [...]

Renovations can be one of the fastest ways to increase your property’s net operating income, but they can also destroy returns if performed incorrectly. In this episode, Charles discusses when unit renovations help the bottom line and when they are just vanity projects. Watch The Episode Here: Listen To The Podcast Here: Talking Points: Renovations [...]

Over-optimistic rent growth is one of the fastest ways a great-looking deal turns into a disappointment. In this episode, Charles talks about how to compare pro forma rents to actual market rents. Watch The Episode Here: Listen To The Podcast Here: Talking Points: When an investment offering memorandum or a broker package is sent to [...]

Long-term debt is one of the most powerful tools multifamily investors can use to reduce risk. In this episode, Charles discusses the benefits of long-term fixed debt and how it can help stabilize your property. Watch The Episode Here: Listen To The Podcast Here: Talking Points: While many real estate investors mainly focus on interest [...]

The Multifamily Expense Ratio measures how much of a property’s gross income is spent on operating expenses. In this episode, Charles discusses why calculating the expense ratio is important and how it assists the investor during preliminary underwriting. Watch The Episode Here: Listen To The Podcast Here: Talking Points: In multifamily real estate, the Operating [...]

Concessions can be extremely beneficial to property managers, helping them rent more apartments when crafted correctly. In this episode, charles discusses offering concessions to new tenants. Watch The Episode Here: Listen To The Podcast Here: Talking Points: In competitive multifamily markets, concessions are a common leasing tool. These concessions can include free rent, waived fees, [...]

Your current tenants can be a great source of new resident referrals. In this episode, Charles discusses creating resident referral incentives to drive a flow of new tenants. Watch The Episode Here: Listen To The Podcast Here: Talking Points: Resident referrals are a great incentive that allows your current tenants to refer new tenants to [...]