If you’re looking to break into apartments, you’d better understand how to thoroughly analyze them before you buy.
Long-time apartment investor Ray Durbin will walk you through the process, step-by-step, of figuring out what to pay, how much a lender will fund, how much you can offer to partners, and what your property will be worth after you reposition it.
In one day, you’ll learn all about:
- Why trying to use “comps” doesn’t work, and what does
- The important numbers you’ll need to collect on a building in order to calculate its current and future value
- Why you shouldn’t just believe the figures the broker or owner gives you, and how to collect the RIGHT data when they’re missing or clearly exaggerated
- How to figure out important-but-squishy numbers like vacancy rate, reserves, and management costs
- How to apply a “cap rate” to the income to get the value of the property (and what that cap rate should be)
- The difference between a “pro forma” analysis (that’s what it COULD BE when the building is repositioned) and an “as is” analysis (what it is now, and what lenders are interested in)—you need to be able to do both to evaluate a property fully
- The numbers that drive the value (and that BANKS look at to decide how much they’ll lend you!), like DSCR and TIMMUR
- How to QUICKLY analyze a lead to see if it’s even worth following up on
When you’re done, you’ll know how to competently analyze any apartment lead you see, whether it’s a 4-family or a 1,000-unit building—and that’s guaranteed.
If you end the day less than 100% convinced that you can do this, just tell us, and we’ll refund your (already cheap) tuition.
Members $47, non-members $97 by 8/22 (Express Success Members free)
