Upcoming Multifamily Events / Apartment Investor Events

MULTIFAMILY INVESTOR NATION SUMMIT

 

June 11-13, 2020

Hosted By: Dan Handford

Location: LIVE 3-DAY Online Event

Use promo code “AIP100” to save $100 on your tickets

Visit Event Website

Money Mixer

 

June 13th, 2020

Hosted By: Jake & Gino

Location: Knoxville, TN

 Visit Event Website

DEAL MAKER LIVE

 

JULY 16 – 18, 2020

Hosted By: Micheal Blank

Location: Dallas, TX

 Visit Event Website

Deal Maker Live in Dallas, Texas with Michael Blank

Rat Race 2 Retirement

 

July 18th & 19th, 2020

Hosted By: Brad Sumrok

Location: Dallas, TX

 Visit Event Website

Manage Right Bootcamp

 

August 8-9, 2020

Hosted By: Jake & Gino

Location: Knoxville, TN

Visit Event Website

Multifamily Bootcamp

 

August 28-30, 2020

Hosted By: Rod Khleif

Location: Dallas, TX

Visit Event Website

 

Apartment Internet Marketing Conference

 

August 30 – September 2, 2020

 

Location: Huntington Beach, CA

Visit Event Website

Apartment Investor Mastery NATCON

 

Sept 19th & 20th, 2020

Hosted By: Brad Sumrok

Location: Dallas, TX

Visit Event Website

Money Mixer

 

October 3rd, 2020

Hosted By: Jake & Gino

Location: Austin, TX

Visit Event Website

3rd Annual Raising Money Summit

 

October 1st-4th, 2020

Hosted By: Adam Adams

Location: 7007 S Clinton St, Greenwood Village, CO

Visit Event Website

Best Ever Conference

(BEC)

Feburary 18th-20th, 2021


Hosted By: Joe Fairless

Location: Denver, CO

Visit Event Website


Past Multifamily Investor Events Events

An Inside Look At Networking To Find Passive Investors for Multifamily Syndication

An Inside Look At Networking To Find Passive Investors for Multifamily Syndication

An Inside Look At Networking To Find Passive Investors for Multifamily Syndication

How can you successfully use networking to find passive investors?

Let’s start with a case study.

Case Study:  Joe’s surprising discovery about where his investment capital came from

Joe noticed something surprising about where his investment funds were coming from.

He had investors from all over, but he found that a disproportionately high percentage of his investment dollars came from his home base, even though he hadn’t lived there very long.  Why?

Before I answer that question, I’ll fill in a few details.

Joe Fairless, the co-founder of Ashcroft Capital, with over $900,000,000 of capital under management, analyzed the location of the top contributors to his multifamily deals.

Joe’s top 5 Cities with percentage of investment dollars in deals were:

  • New York City: 18%
  • Cincinnati: 13%
  • Dallas-Fort Worth: 11%
  • Miami: 7%
  • San Francisco: 6%

Why was Cincinnati so surprising?

Cincinnati wasn’t a top 5 city of his in terms of total number of investors. And only 3.5 percent of his current investors lived there.

Joe is not from Cincinnati and he had only lived there for a few years. So, why did it represent 13 percent of all the equity invested in his apartment deals? 

The answer: He had become actively involved in the local community. And…

That activity included hosting a local meet-up.

It’s incredible that such a high percentage of those investment dollars were coming from that one city and it shows the power of being active in the local community and the power of hosting a regular meet-up.

 

How to get the most from networking events / opportunities

But how can you network like a professional at these events? Here, I’m sharing my conversation with Director of Investor Relations at Ashcroft Capital, Travis Watts. You’ll take away clear answers to that question as well as the following:

Question #1 How to choose the right live event to attend for networking opportunities?

Question #2 What you can expect from these events depending on the ticket price?

Question #3 How many conversations does it take to find one investor?

Get The Free Investor Networking Resource Guide.

R

Build your network – get access to commercial real estate meetup groups around the world and the ones near you.

R

Attend networking events – get a list of upcoming multifamily events.

R

Network on the go – get an app that connects you with other investors and professionals, right from your phone. 

R

Network online – learn how to effectively use BiggerPockets.

Get The Investor Networking Resource

8 Tips for Effective Networking to Find Passive Investors

1: Host A Local Meet-Up

Meetups (especially if you’re the one hosting) can get you deals and get you passive investment dollars.

Being the organizer of the event is a big advantage because not only do you control the format but you are also the connector between all these different individuals. The fact is when you help people get what they want, you end up getting what you want.

As the organizer and host you are viewed as an expert and the authority.  People respect and trust you. Trust is the biggest factor in people making the leap to invest their money with you.

Keep in mind that meet-ups can be held virtually via Zoom or they can be hosted at a location that can accommodate social distancing.

A meet-up group can be formal or informal. The lack of a great location is not a deal-breaker. Most successful meet-ups started out with just a meeting in the park, or at a local bar or restaurant.

Promote your event by posting the meetup in the BiggerPockets events section. You can also create an event on Facebook.

If your event is formal, you could have a program of activity. If it is informal, it can just be an open floor networking opportunity.

If you go with a more formal program then you could include some kind of presentation at the start from a guest speaker. You could also include a section of the program for attendees to share deals with the group. Some meet-ups give an opportunity for attendees to let the group know what professional connections they need.  It could be anything from a plumber to a real estate attorney.

2: Attend A Local Real Estate Meetup or Multifamily Conference

The next best thing to hosting your own event is to attend one hosted by someone else. 

Here are 5 great tips to get the most out of your networking experience at an event.

 

3:  Be approachable

The power of a welcoming smile can’t be overstated. When you add to this a genuine interest in others and a willingness to listen you are off to a great start.

4:  Prepare your elevator pitch

How ready are you to give an effective answer when people ask you about your investor niche? An ‘elevator pitch’ describes an answer that is brief enough to be delivered in the course of a 30-second elevator ride.

5:  Don’t look at every new connection as a dollar sign

Give people a chance to get to know you, to build a relationship and to build trust. Building an investor network requires patience. Play the long game.

6:  Do your research ahead of the event

Who will be attending? Learn something about these individuals ahead of time so that you will easily be able to strike up a conversation and establish rapport.

7:  Follow up after the event

Keep a note of who you’ve met and what you spoke about. After the event, send the people you met a brief, “great to meet you,” message. Try to keep in regular contact.

Next week I will be sharing an interview with an expert on networking at multifamily events and he will be sharing lots more great tips including how to choose the right event to attend.

8:  Attend Virtual Multifamily Conferences Meetups & Events

Now, many multifamily conferences are going virtual. Networking is not exactly the same as at live events but the opportunity is still there.

Many virtual event organizers will implement measures to maximize online networking opportunities and try to replicate the experience of an in person networking event, such as:

 

  • Virtual coffee breaks, lunch hour break rooms and happy hour virtual rooms.
  • Creating opportunities for attendees to network with other attendees and exhibitors based on topic and mutual interests.
  • Contact info of other attendees is shared and there is also opportunity to engage and connect with others in the lead up to the event.

 

Many events use an event management software like Whova which can facilitate networking opportunities.

According to their website the Whova event management software can help event organizers to, “Maximize Attendee Virtual Networking Opportunities and Community Building,” with the help of all kinds of technology bells and whistles such as, “an active community board to discuss common topics and share photos, articles and tips and a virtual business card exchange to enable future communication.”

From a relationship-building standpoint, hosting a local meet-up, or attending a live or virtual event can be an incredible boost to the growth of your investor base.

Get The Free Investor Networking Resource Guide.

R

Build your network – get access to commercial real estate meetup groups around the world and the ones near you.

R

Attend networking events – get a list of upcoming multifamily events.

R

Network on the go – get an app that connects you with other investors and professionals, right from your phone. 

R

Network online – learn how to effectively use BiggerPockets.

Get The Investor Networking Resource

Expecting to find passive investors without networking would be like expecting to go swimming without getting wet, you can’t have one without the other.

If you are hosting your own event or networking at other events you will be making connections and establishing rapport with those you meet. What is the next step for those individuals? They will want to check out your website.

Will they find the same professional image when they go to your website that they got from networking with you in person or at an online event? Does your website enhance your credibility as a multifamily syndicator or detract from it?

Does your website make you seem like the Michael Phelps of the multifamily world? Or does it make you look like you are still wearing water wings?

To get your professional investor site up and running today visit ApartmentInvestorPro.com

AIP 005: Networking to Find Passive Investors – With Travis Watts

AIP 005: Networking to Find Passive Investors – With Travis Watts

Show Notes

Travis Watts, Director of Investor Relations at Ashcroft Capital Shares his expertise on

  • What are the best social media platforms for finding and building relationships with potential investors
  • The pros and cons of online events
  • How to choose the right live event to attend for networking opportunities
  • What you can expect from these events depending on the ticket price
  • How many networking conversations do you need to have before finding an investor, what can you expect?
  • The profile of a typical investor and that profile is not what he expected or imagined when he first started out
  • When and how to follow up with new connections after an event
  • His main criteria for investing in any given deal and what has frustrated him with certain investments
  • How to cut the learning curve by decades if you are new to multifamily investing

Connect with Travis Watts:

AIP 003: Buying an apartment building for beginners -With Peter Harris

AIP 003: Buying an apartment building for beginners -With Peter Harris

Show Notes

In this video, I interview Peter Harris, author of the best-selling book, “Commercial Real Estate Investing for Dummies”. Peter has acquired over $100 million dollars worth of apartments and other commercial properties all across the United States.

In this interview, Peter answers the 10 most commonly asked questions about how to get started buying your first apartment.

Here are some of the questions answered:

  1. What are some benefits of investing in apartments?
  2. If someone is starting out with no real estate experience, what would you recommend?
  3. Is there a minimum amount of money someone should have to get started investing in apartments?
  4. Does a person need to have good credit to invest in apartments?
  5. What suggestions do you have for someone who has invested in single family properties who wants to start investing in multifamily properties?
  6. Can you briefly explain what it means to do syndication with apartment investing, and the benefits of that?
  7. If a person is going to do syndication, what should they know to avoid trouble with the SEC?
  8. How important is credibility when it comes to investing in apartments, and what can a person do to build it credibility?
  9. What are some common pitfalls new investors run into that our listeners should be aware of?
  10. Should a new investor partner with someone more experienced on the first deal?

Resources Mentioned

How to Raise Money for Multi-family Property Investing

How to Raise Money for Multi-family Property Investing

How to Raise Money for Multi-family Property Investing

How to raise money for multifamily property investing is one of the biggest concerns for multifamily investors / syndicators.

Whether you’re just getting started and need to raise money without having a track record, or if you’ve done some deals but have tapped out your personal network, this article will help.

Here’s a quick overview:

  • A case study of how one investor raised $1 million in 2 weeks
  • A video interview where Adam Adams, who has raised millions of dollars from private investors, shares tips for how to get investors before you have a deal, and how to raise money after you’ve tapped out your personal network
  • You’ll have an opportunity to get our “Raising Money Toolkit” for FREE
  • We’ll share 4 ways to raise money that you can start doing today
  • Plus additional tips and resources to successfully raise the money you need

Let’s get started!

Case Study:  How One Investor Raised 1 Million Dollars in 2 Weeks to Finance His First Multifamily Deal

Dave Thompson, who has helped provide investor funds to purchase over 4,500 apartment units worth over $400M, raised a million dollars for his first multifamily syndication deal. Then, within just one year, he raised close to $9 million to help acquire 5 large apartment communities.

What If This Were You?

  • He raised a million dollars for his first multifamily syndication.
  • For the first deal he found 13 investors, averaging about $75,000 per investor.
  • He raised 1 million dollars in just 2 weeks!

A total of 13 investors… 13 is not a huge number.  Even if your personal network is not very big, this number of investors is definitely within your reach.

Another interesting point: Dave didn’t ask for many referrals on his first deal. He admits that this was a mistake. This is something he only did effectively when raising capital for his second deal. You should ask for referrals from your network right from the beginning. 

How Did He Raise The Money For His First Deal?

  • Step 1 – He Leveraged His Personal Network (family, friends and work colleagues)
  • Step 2 – He Built Relationships Through Online Investing Community BiggerPockets 
  • Step 3 – He Attended Local Multifamily Meet-ups (5% of investment came through meet-ups)

Money Raising Breakdown

  • Personal Network = 70% (Wife’s network = 35%, one past business associate = 35%)
  • BiggerPockets = 25%
  • Local Multifamily Meet-ups = 5% 

The majority of Dave’s investment dollars came from two sources

Let’s dig in deeper on these 2 sources that produced 95% of the investment dollars.

Personal Network

Dave’s personal network includes family, friends, and work colleagues. 

Likely some of your connections also know you as an individual with drive and determination. The people close to you probably already have more confidence in you than you think.

When Dave started digging he discovered he knew many people that were already interested in real estate and had cash readily available.

A past business associate from the high-tech sector ended up being Dave’s biggest contributor.

If you have connections who work in the field of high-tech, legal, or medical, this is a gold mine for raising money. Many professionals don’t have time to be actively involved with RE and they are crying out for someone to put their money to work for them. You will be doing them a huge service by helping them to get better returns on their investment dollars.

The way Dave went about building relationships with these investors was inspirationally simple.

He would host a BBQ and gently mention what he was getting into. If there was a spark of interest he would email them and set up an appointment to specifically talk about the deal.

BiggerPockets

BiggerPockets was another network that Dave leveraged to raise money. BiggerPockets attracts investors who are actively looking for opportunities. 

Yes, the online opportunity is enormous. There is a massive community of investors out there waiting to connect with you. The BiggerPockets platform can lead you to them.

While Dave couldn’t specifically advertise his deals, he posted valuable content and created a strong bio page. People looked at his profile and saw that he was involved with syndication, then they would approach him.

So concentrate on putting together a good bio page on BiggerPockets and providing valuable information in the forums. When you show your expertise in the forum discussions this gives people a reason to look at your bio, reach out to you, and connect with you. Do these two things and your online network will really come alive. 

This example is one of thousands of success stories that teach us that the obstacles between you and the investment dollars you need may not be that great.

With a little ambition and belief you can rise to the challenge of finding those investment dollars. When you do, you will be on your way to fulfilling your financial dreams. 

But how can you keep raising capital if you’ve already tapped out your personal network?

Here is my conversation with multifamily investor and host of the Creative Real Estate Podcast, Adam Adams.  In this video interview you’ll get clear answers to that question and loads more:

Question #1:  How do you get commitments from investors before the deal is even lined up?

Question #2:  Why is it actually better to start investing with larger units?

Question #3:  What if I’m uncomfortable with asking people to invest their money?

Click below to watch the interview and learn how to start raising money the right way.

Get the free “Raising Money Toolkit”

Includes:

R

10 Places You Hadn’t Thought To Find Passive Investors

R

Dave Thompson’s e-book, “How I Raised a Million”

R

Instructions for getting Adam Adams’ sample deal package

R

How to connect with 10,000 accredited investors on LinkedIn

Get Instant Access

4 Ways to Raise Money for Multifamily Property Investing:


Your Personal Network

Approaching friends and family may seem like a last resort as it’s no great revelation to say that many relationships have been put under a lot of strain due to business dealings.

The way to ensure that the relationship stays healthy and positive is to make sure that communication is clear and that everything is down in writing.

This isn’t a question of trust but it is an essential step because it prevents misunderstandings.

Make sure that all agreements even with family and friends are written up and signed properly, thus protecting all parties and guarding against any potential ill-feeling down the road.

Your friends, family, neighbors, and co-workers trust you because of the ethics that they have observed in you over the years.

Social Media

Use social media such as LinkedIn, Facebook and BiggerPockets to expand your network and meet new investors.  Follow Dave’s example in the Case Study above.

Networking and Events

Attending live events or meetups is a great way to meet new people who could be potential investors for your deals.  Check out upcoming multifamily investing events here.

Be a Thought Leader

To greatly extend your network you need to fully embrace digital marketing.

Position yourself as a thought leader in the real estate investing world by producing lots of valuable content across multiple platforms using different mediums such as podcasts, blogging, videos, etc.

Have a way to capture those leads once they start coming in.  If you are directing people to your website, make sure that you have a lead capture form and offer something of value in exchange for that potential investor’s email address.

Just be sure that when you get new contacts that you reach out and start to build the relationship by means of more engaging content.

Additional Tips for Raising Money

Tip 1:  Focus on relationships, not the money.

Experienced investors speak about the danger of looking at every contact and connection in your network as a dollar sign.

You need to give people the chance to build a relationship with you and to build trust.

The best way is to speak with people in your network with enthusiasm about the deals you have done (if you’ve done some) any deals you’re working on now, or upcoming deals.  When they respond with enthusiasm you can take it from there.

Attracting passive investors is not just about making connections.  You may attend an event and make a lot of connections and gather a lot of business cards but the important thing is to follow up and build on that initial contact before the connection grows cold.

Tip 2:  What to say

In your conversations with investors, your objective is twofold.

Your first objective is to increase their confidence in you and your deal.

Your second objective is to see if the investor is right for you.

Explain to them that you are in this together with them and if you have money invested you can tell them that you also have ‘skin in the game.’

Even if you are not investing your own money in the deal for whatever reason, you can still reassure them of your 100% commitment.

You can talk about your track record with potential investors and if your track record is not so convincing then you can speak about the track record of your partner and that of your team.

Ask them questions about what they invested in before and what they liked and disliked about the way that investment worked out for them.

Some investors will be happy to wait patiently for returns and others have different expectations.  It’s good to find out about what type of investor you are dealing with.

If you have your investors’ best interests at heart and ensure that the deal is right for them, then you will also be saving yourself a lot of headaches later on.

Just because someone has the money and wants to invest with you doesn’t mean they’re a good fit.

Get the free “Raising Money Toolkit”

Includes:

R

10 Places You Hadn’t Thought To Find Passive Investors

R

Dave Thompson’s e-book, “How I Raised a Million”

R

Instructions for getting Adam Adams’ sample deal package

R

How to connect with 10,000 accredited investors on LinkedIn

Get Instant Access

Where to Start

Many of these tools and tips can only work for you if you have a hub for all your online marketing activity.  That hub is your website.

It’s important to ask yourself:

Is my website representing me in the right way?

Does it inspire confidence in investors that need to be convinced of my professionalism?

Does it have a method for capturing the contact information of potential investors that visit the site so that I can quickly follow up on the interest?

For more information about how we can help you to overcome these obstacles and more, check out our website service for multifamily investors at ApartmentInvestorPro.com

Buying an Apartment Building for Beginners

Buying an Apartment Building for Beginners

buying an apartment building for beginners
Buying an Apartment Building for Beginners

Buying an apartment building for beginners, is it really possible?  Yes by following the clear principles listed and explained in the following article.

Commit to Multifamily

Very often it is not so much the decision itself but the decision maker that determines the success of a particular course of action.

In other words, once you make a decision to make multifamily your investment strategy, if you want to be successful, move ahead with confidence in your decision and don’t look back.

In the present market multifamily properties are tangible assets that represent a wise strategy to achieve your investment and wealth creation goals.

Because of the shorter lease terms that give room for regular increases in rent, multifamily assets represent a safer investment than other commercial real estate investment options.

The current demographics are also positive. The steady increase in the number of professionals in the workplace, families, and empty nesters looking to downsize and simplify their lifestyle means that it makes perfect sense to focus on the multi-family market.

Multifamily is a solid strategy for you as an investor to focus on so there is no need to second guess yourself.

Are you looking to achieve financial freedom through multifamily real estate investment?  If you act with prudence and insight you can expect strong investment returns that are attractive and relatively low risk.

Educate Yourself

Almost every expert you ask about multifamily, regardless of the question, will mention the importance of educating yourself.

It’s important that you know about CAP rates and how to calculate NOI and all the technical details to communicate effectively with people in the multifamily investment arena.

You need to know these to properly evaluate a prospective multifamily property to invest in.  But more importantly, your education is about more than just getting knowledge, it is about gaining wisdom.

How can you have the wisdom you need without experience?  The simple answer is, by learning from the mistakes of others.

This is why resources such as meetups and podcasts are invaluable because you can listen to other investors and learn from the mistakes they made so that you don’t have to suffer those same losses on your way to reaping the rewards.

Be a great listener, apply the lessons learned and you will reap the rewards of patience and humility.

 

Answers to the Top 10 Questions About Buying Your First Apartment Building

 I interviewed Peter Harris, author of the best-selling book, “Commercial Real Estate Investing for Dummies”. Peter has acquired over $100 million dollars worth of apartments and other commercial properties all across the United States.

In this interview, Peter answers the 10 most commonly asked questions about how to get started buying your first apartment:

How to get started in Apartment Investing Toolkit

Get the resources you need to get started in apartment investing.

Get The Toolkit For Free

Research markets

Neal Bawa Founder / CEO at Grocapitus and MultifamilyU, makes the point in one of his podcasts that there is no such thing as a property market cycle for the whole of the United States.

Rather, each separate state and geographic region exists independently and has its own market cycle depending on a multitude of factors.

Whereas markets such as San Francisco may be in their 9th inning and the bubble is about to burst, other markets in the U.S. will be entering into the prime period for investing which Bawa reckons to be around about the 4th or 5th inning when the upward momentum is well and truly set for continued growth.

He puts markets such as Orlando and Las Vegas at the top of the list at this point in time.

Do your own research and look at multiple sources and select your investment market wisely.

Choose How to Manage Risk & Gain Credibility

You’ll want to start out in a way that reduces your risk.  There are two main ways you could do that.

The first option is to start small and scale up once you have some experience.

The second option is to work with someone who is already experienced.

Start Small and Scale Up

Starting small can be a great way to keep the risk factor manageable while you learn the ropes.

Breaking The Barrier

Maybe you feel like there is a barrier between you and your first deal, like having little or no money or not being able to qualify for a loan.

Below is an example of how one investor took that first step, broke through several barriers and purchased his first small property.

The Results

  • He gained experience with minimal risk
  • He got the credibility he needed
  • He earned the cash to trade up and invest in larger properties

 

How Did He Do It?

This investor had no job and no savings when he got his start.

He attended an investment seminar in 2007 and learned he had to do 3 key things to help him get his first multifamily investment:

Step 1 – He needed a salary in order to get a bank loan. (He got a job truck driving.)

Step 2 – He needed to save $10,000 – $15,000 for a downpayment on a loan.

Step 3 – He needed to have the property produce income.

If you already have savings and a steady job, this will save you taking the very first steps that he had to take. It will also save you a lot of time.

He got a mortgage for $75,000, (to also cover the cost of renovation). He purchased a duplex for $65,000.00, in 2009. The downpayment was just $5,800 and the loan repayments were $750.00 per month.

Ultimately he got two tenants, each paying $875.00 per month. A total of $1,750.00 per month income.

He was making $1,000.00 profit a month.

After that he kept the property for another year and a half and then decided to cash in by selling the property for $150,000, double the initial investment.

While these are exciting results, you need more than one rental property to achieve your goal of financial freedom. 

With this first deal under his belt, now he has money he can invest into a bigger property. He also has experience managing a rental property plus credibility he can leverage to get investors for larger syndication deals.

This is one way to start building your property portfolio and be on your way to financial freedom.

A second option is to work with someone more experienced.

Choose a mentor, coach or partner

Investing in real estate is hardly a new endeavor and there are many individuals who have learned to master the art of making sound investments in multifamily properties.

There are many of these individuals out there that might be willing to mentor you but as with all things, there are also those that might just like to take your money.

So how can you choose a mentor wisely?

Firstly you will want to be convinced that the one you are going to be guided by is more than a theorist but somebody who has actually walked the walk.

Take a close look at the prospective mentor’s track record and make sure they are legit.

It’s shocking to report that some do not even take the trouble to do a Google search of their prospective mentor before taking steps toward a business relationship.

Read everything you can online about that person and check out as many testimonials as possible before making a decision.  You might check a site like Bigger Pockets to see what others have to say.  Don’t be discouraged because a couple people have something negative to say, since some (unsuccessful) people are just negative or think it’s a waste of money to hire a mentor.  But if you see a concerning pattern, you may want to find someone else.

Of course, just because you may find the right person to work with there is no guarantee that they will want to work with you.

That’s why sometimes the very best type of mentor is one that you come by organically by growing your network and by going about your business.

It’s a relationship that happens naturally as a consequence of moving around in the real estate investment world and pursuing your goals with integrity and passion.

Learn how to analyze deals

One of the first things that you learn about analyzing a property deal is that, either by design or by mistake, there are a lot of fictional numbers out there.

Sellers and brokers will provide you with statistics that may be less than accurate for obvious reasons.

You will need to learn to ask for and analyze bank statements, tax returns and rent roll income documents in order to get a true and accurate picture.

You will also need to learn to verify the actual operating expenses of any given property.

The biggest mistake that newbie investors make is in underestimating the operational expenses.

A good guide when calculating the expense per unit is to compare that with the average expenses per unit in the area, and in your submarket, to see if they are on par with your calculations.

A great tip when you’re first getting started is to run the numbers on several properties that you’re not really interested in (have no emotional attachment to) so you can get the practice you need while the stakes are low.  Download the “How to Get Started With Apartment Investing Toolkit” to get the resources to be a better, more experienced deal analyzer.

Seek out properties with value-add opportunities

This may begin with the very perception of the property itself. If there is room to reposition the property in a way that it is perceived differently, this is your first value add opportunity.

Improving the type of tenant that you rent your units to is another way to increase profits. The right kind of tenant means fewer evictions, less damage and, more regular payments.

There are many other ways to add value to your property beyond renovations.  A good investment property will present you with multiple value-add opportunities.

How to get started in Apartment Investing Toolkit

Get the resources you need to get started in apartment investing.

Get The Toolkit For Free

Getting the Right Start

Investing in multifamily property can be an important next step for you.  Doing so can allow you to produce more income and build net worth faster.  Follow closely the above-mentioned principles and you will be up to the challenge.

Once you decide to take the plunge, an essential early step is to establish a professional online presence by getting your website up and running. This will be necessary for every future step you take as a property investor in a wired world.

To get the right kind of site that positions you as a person that truly belongs in the multifamily investment arena can seem like a daunting prospect but don’t worry, we have you covered.

Apartment Investor Pro sites are designed specifically for real estate investors.  They can be easily customized for your needs and content and they come at a fraction of the cost that you would incur if you had your site built from scratch.

The Best Cities to Invest In Apartment Buildings

The Best Cities to Invest In Apartment Buildings

The Best Cities to Invest In Apartment Buildings

One of the most common questions apartment investors ask is, “How do I choose the best cities to invest in apartment buildings?

It’s a big question, and a big financial decision.

If you’re not sure how to answer this question, here are some issues you’ll run into:

  • You’ll get stuck in analysis paralysis.  You may drag your feet and miss out on a good opportunity.
  • You turn down a great deal.  You’re not familiar with the city so you turn down a deal that could have made you a lot of money.
  • You invest in a bad deal.  A deal comes along that’s too good to pass up.  You invest in it, only to realize later that the city had issues you weren’t aware of.

How can you invest in apartment buildings in a city you’re not familiar with without constantly second-guessing your decision?

How can you find cities with hidden potential that big investors aren’t looking at?

Short Answer:  You learn what data matters and where to find it.

There are 5 key metrics you need to pay attention to:

  1. Population Growth
  2. Median Household Income Growth
  3. Median House or Condo Value Growth
  4. Change in Crime Levels
  5. Last 12 Months Job Growth Percentage

Before we dive any deeper, I want to give credit where credit is due.  This information is based on the data-driven approach taught by Neal Bawa, a successful investor and syndicator.

Also, this list isn’t comprehensive, meaning there are other factors that could have an impact on whether an investment is good or not.  However, these criteria are where you should start.

Some states are more tenant-friendly and others are more landlord-friendly.  It doesn’t mean you can’t invest in a tenant-friendly state, but it’s worth knowing the laws when it comes to evictions, etc.  If you’re not willing to deal with a state that favors tenants over landlords, save yourself time by not looking at deals there.  (Later this month we’ll provide a resource to help you determine this).

Invest with confidence!

Get The Toolkit

This Toolkit will help you:

 

  •  Find out if the city you’re considering is a solid investment or not.
  •  Do thorough research by giving you links to the resources you need
  •  Know what numbers matter and what ranges to look for.

Watch the video below as Neal Bawa goes deeper into each of these metrics and shares how he uses this data in his business to find hidden gems that most investors aren’t looking at.

Invest with confidence!

This Toolkit will help you:

 

  •  Find out if the city you’re considering is a solid investment or not.
  •  Do thorough research by giving you links to the resources you need
  •  Know what numbers matter and what ranges to look for.
Get The Toolkit

OK, now let’s dig deeper into the specifics of what to look for with the 5 metrics mentioned above, and compare a couple cities to see how they measure up.

The Best Cities to Invest in – 5 Factors to Consider

1. Population Growth

Look for population growth between 2000 and 2017.  Why not up to the current year?  It’s usually not available, at least not for free.  But it’s also not necessary since this time frame is enough to show the trend.

Cities between a quarter million and 1 million population should have a 20% growth or higher.

Cities under a quarter million should have 30% or higher growth.  Cities over a million should have 15% or higher, and cities over 2 million should have 10% or higher.

Let’s compare a couple cities to see how they measure up.

Columbus, Ohio:

Population in 2017: 879,170

Population change since 2000: +23.6%

How does it measure up?

It’s between a quarter million and one million population, so it should have a 20% growth or higher, and it exceeds that.  So it looks good on this metric.

Let’s check another city.

Charlotte, NC:

Population in 2017: 859,035

Population change since 2000: +58.8%

It’s in the same population range as Columbus so we’d be looking for the same 20% or higher growth.  Charlotte well exceeds that.

Our Toolkit includes the resources you need to find this data.

2. Median Household Income Growth

You want to see that the average income is going up.  You generally wouldn’t want to invest in an area that’s economically repressed because people will likely be moving out to find jobs rather than moving in.

How much growth should you look for?

Neal Bawa recommends 30% growth in the median household income.

This applies to cities of all sizes.  For each year beyond 2016, add 2% growth to the 30% number (for example, 2017 should be 32%, 2018 should be 34%, etc.)

How do our two cities fare that we were using as an example, Columbus, OH and Charlotte, NC?

Columbus = +31%
Charlotte = +29.89% (is that close enough Neal?) wink

3. Median House or Condo Value Growth

Here we want to see that the value of homes is going up for the years shown.  For example, you’ll likely see a comparison of 2000 with 2017.  We want to see that the home values have gone up considerably.  But how much?

You want to look for 40% growth, and that applies for cities of all sizes.

For each year beyond 2016, add 2.5% growth to the 40% number above (for example 2017 should be 42.5%, 2018 should be 45%, etc.)

That may sound like a lot, but it’s not as difficult to find as it might seem.  Some cities in the U.S. are at 100% growth over that time.

How about our two example cities?

Columbus = +42% growth
Charlotte = +53% growth

They’re both still looking pretty good.

4. Change In Crime Levels

You want to see a decline in crime levels. An increase in crime would let you know the city has some issues.  If a city has rising crime, people will want to leave it to go somewhere safer.

What numbers should you look for?

You want to see a current crime level of 500 or lower on the crime index.

You also want to see a smooth decline in the crime rate over the 2000 – 2018 (or latest year shown) time period.

This smooth decline indicates the trend will continue, which will have a direct, positive impact on home prices and rent growth.

This applies to cities of all sizes.

How do our two sample cities compare?

Columbus’ crime rate is 375.4 for 2018, so it’s under 500 like we want.  Going back to 2005, the number has dropped gradually every year, so that’s what we’re looking for.

For some reason, Charlotte’s crime rate is not published on the site we’re using.  It’s the only city I’ve found that’s not listed, so you’ll have to get crime info from other sources.  From sources I found, it seems like crime could be an issue in Charlotte.

That doesn’t necessarily mean it’s not a good place to invest.  Neal says you aren’t always going to get 5 out of 5 for these, but you want at least 3 or 4.  In this case, if all the other numbers look good, you might check the crime rates for the neighborhood the property is in and see how that compares to other areas.

5. Last 12 Months Job Growth Percentage

Job growth is a good indicator that people are moving in and there is plenty of work, which means there is demand for housing.

The COVID-19 pandemic is obviously going to have an impact on job growth.  But generally, what you want to look for is:

2% annualized job growth for cities under 1 million, and 1.5% for cities over a million.

One difference with this statistic is that you are only looking at the last 12 months of data.

It is important to take the entire 12-month period into consideration.

Examples of cities with excellent job growth stats that also meet the other criteria on this list are:

St. George, Utah
Boise City, Idaho
Kennewick, Washington

How about the two cities we’ve been comparing so far?

Columbus has a .86% growth as of March 2020 and Charlotte about 2% from Feb 2019 to Feb 2020 (pre-COVID-19).

You can sort cities by the percentage of job growth over the past year, which can be a great way to identify cities with potential.

Examples of cities to check out:

  • Deltona
  • Orlando
  • Lakeland
  • Sarasota
  • Fort Myers
  • Cape Coral

Neal Bawa talks about a geographical corridor of opportunity running south from Deltona, through Orlando, down through Lakeland and Sarasota down to Fort Myers and Cape Coral.

All of those cities are great cities to invest in easily making the grade for desirable cities to target for investment including the 2% or above annual job growth criteria.

Owning an investment property in Orlando, for example, continues to make good investment sense. Orlando is experiencing 7.2% population growth.

The city is also becoming a business center for young professionals and the annual job growth is around 4.4%.

Another factor that makes Orlando a desirable option for property investors is that Florida is a state with no personal income tax.

The Orlando housing market is often pointed to as a great start point for new investors because of its affordability.

This affordability coupled with increasing rental income equals healthy positive cash flow.

Check out resource #3 in the toolkit to look up these statistics for yourself.

Exceptions to the Rule

Of course there will always be exceptional deals that work for you as an investor that do not follow the formulas in the system outlined in this article.

For example, investing in your local region may not perfectly meet the criteria outlined here. But you may decide that your advantage in terms of local knowledge will give you the edge that you need. Or perhaps there is an x-factor that makes a certain property investment work outside of these parameters.

As a general rule, however, what will separate you from the pack as a syndicator worth your salt is a careful and analytical approach to your investment decisions, as outlined in this article.

Pay careful attention to selecting the area you wish to invest in and use the criteria outlined above as a guide.

Invest with confidence!

This Toolkit will help you:

 

  •  Find out if the city you’re considering is a solid investment or not.
  •  Do thorough research by giving you links to the resources you need
  •  Know what numbers matter and what ranges to look for.
Get The Toolkit

A Vital Piece In The Puzzle

Of course, finding the greatest investment property in the world, in the best location in the world, will do you no good at all unless you can also convince brokers and investors that you are a serious player.

That is why a vital piece in the puzzle is to have an online face that boosts your credibility, dispels anxiety and promotes confidence. To do this you absolutely need a website that gives you a professional image and serves as the perfect online hub for all your digital marketing activity.

At Apartment Investor Pro we provide websites specifically designed for multifamily syndicators with all the graphics and content already prepared.

This means that you can immediately get your site up and running with no hassle and at a fraction of the cost.

To get started check out our website plans at Apartment Investor Pro.

Your Multifamily Investor Elevator Pitch – How to Do It Right

Your Multifamily Investor Elevator Pitch – How to Do It Right

Be honest, on a scale of one to ten, how ready are you to give an effective answer when a new acquaintance casually asks, ‘So what do you do for a living?’

At this point, you need to be ready to do a bit more than just mutter something nondescript and confusing about property investment.

An elevator pitch is so named because it describes an answer that is brief enough to be delivered in the course of a 30-second elevator ride.

That would be easy if brevity was all there is to it, but the trick is, it must also deliver enough information and be compelling enough to hook a potential investor.

Since people ask the question, ‘What do you do?’ all the time, especially if you first ask them, these everyday encounters are golden opportunities to make connections.  Are you really making the most of them?  How many great connections could you have made if you had been prepared?  The point is, from now on, no more missed opportunities!

These connections could easily turn into investment dollars to fund your future property deals. But this can only happen if you first give proper attention to what you will say when the networking opportunity arises.

A Useful Elevator Pitch Outline

There are a number of different possible outlines for your elevator pitch, so before we look at a specific one, let’s briefly consider how having an outline can help you.

Preparing an outline helps you to organize your thoughts.

Keeping your outline in mind rather than memorizing a speech word-for-word makes it easier for you to be flexible and conversational, not robotic.

You’ll find that a mental outline is good enough to remind you of the main thoughts that you want to share. 

Brandon Turner of Bigger Pockets suggests, “a great elevator pitch should contain 6 elements:

A Great Hook Get them interested right away or lose them altogether.
Your Company Name Or are you just running this out of your mom’s garage?
Your Goals What is it you are trying to accomplish?
Why YOU Matter Go ahead.. brag a little. Why are you different from the rest?
What’s In It For Them People are selfish… give them what they want.
A Call to Action Steps 1-5 make no difference if you don’t give them the opportunity to respond!”

If that outline seems too complicated, you can boil it down even further to the following simplified outline:

Fundamentally your elevator pitch should answer three things:

  1. Who you are
  2. What you do/want
  3. What benefits you bring

These outlines should be enough to help you come up with and craft your own elevator pitch.

I know what you are thinking; it would be nice to see an example, right?  Wow, never satisfied, are you?  🙂  OK I’ll give you three examples.

3 Useful Elevator Pitch Examples

The following examples are not all specifically for property investors but they can give you an idea of how a service that you are familiar with can be conveyed as an elevator pitch.

In each case, I’ve left out the call to action because that is something that you need to decide for yourself and can be changed depending on the circumstances.

For the first example, think back to the time when Airbnb first started and they were looking for funding…their elevator pitch might have been something like this.

Airbnb Elevator Pitch

Most tourists booking online care about price, and hotels are one of the highest costs when traveling.

On the other hand, platforms like Couchsurfing have proven that over half a million people are willing to lend their couches or spare bedrooms.

We have created a platform that connects travelers with locals, letting them rent out rooms, or even entire places. Travelers save money, and locals can monetize their empty rooms- we just take a 10% commission.

Here’s another example, an elevator pitch for our company, Apartment Investor Pro.

Apartment Investor Pro Elevator Pitch

You know how apartment syndicators need a website to get investors to trust them, but setting up a website often takes many months and can be a nightmare?

Our company, Apartment Investor Pro, offers a service where multifamily investors can have a professional website live within as little as a day or two.  We have designs and content ready to go, so you can just sign up and plug in your business details and you’re ready to start sending investors to your professional site to make a great impression.

Now let’s take a look at a possible multifamily syndicator pitch.  I’m sure you can improve on it but it gives you a start.

Multifamily Syndicator Pitch Example

You know how it’s hard to find a good place to invest money since banks pay terrible interest rates, and the stock market is so risky?  Most people realize real estate is a great investment but don’t want to deal with the hassles that come with it.

I help people to invest passively in apartment buildings, where they don’t have to deal with the day-to-day operations, getting them great returns on their investment dollars.

By choosing apartments where we can add value and improve cash flow, we get great returns for our investors.

Putting It All Together

The small connections and chance meetings that we encounter regularly are often the start of something much bigger.

You’ll build your list of potential investors through many different strategies, but these face-to-face encounters are a great place to start.  It’s like scattering seeds.  You never know which ones will grow.

To be successful, you need to have a clear objective in mind (letting people know what benefits you offer), and a simple outline you can work from to deliver your elevator pitch.

Whether your call to action directs the prospect to give you a call or visit your website, you probably realize that anybody who is interested in connecting with you will want to search for you on Google and check out your website.

When they do, do you have a professional online presence that represents you in the best light possible?

Apartment Investor Pro websites are designed specifically for apartment investors. They can be easily customized for your needs and content. Plus they come at a fraction of the cost that you would incur if you had your site built from scratch.

Feel free to check out more info at ApartmentInvestorPro.com

Use Automation to Keep Your Multifamily Syndication Investor Leads From Falling Through the Cracks

Use Automation to Keep Your Multifamily Syndication Investor Leads From Falling Through the Cracks

Maybe you can relate to what was happening to me.

An important contact would book a call.

When it came time for the call, sometimes they forgot about it and were not prepared.

Usually we’d have the call anyway and maybe things went reasonably well.  The prospect indicated they intended to move forward.

But then a few days go by and they hadn’t taken the next step.  I’d get busy with other things and another week would go by.  At this point the prospect is cooling off and this great lead turns into a dead end.

I didn’t have a system in place for following up after the call.  I thought the prospect would reach out to me when they were ready, but that never happened.  Sometimes I had good intentions of following up with them to move things forward but somehow that never happened either.

Great leads were being wasted.

Here’s a visual representation of the process:

 

How can you keep this from happening?

I knew I was dropping the ball, so I made a plan to solve this problem in my business and I want to share with you how I did it so you can do the same.

Here was my plan:

 

That sounds great, but there’s the matter of figuring out how to technically do it.

I knew there must be a way to solve this problem through automation.

When someone books a call through Calendly (a free event management tool), I wanted them to automatically get added to my CRM (I’m using ActiveCampaign).  But not just added as a contact.  That’s not enough to convert a prospect to a partner.

Here were my goals:

  • Before the call:  Make sure the person booking the call not only shows up, but shows up prepared
  • After the call:  Make sure the prospect gets a follow up and takes the next step


Here are the benefits:

  • Reduce wasted time from prospects forgetting about the call or not being prepared for the call
  • Have peace of mind, knowing you’re not forgetting an important lead
  • Close more leads which means more money in the bank!

 

Want to know exactly how I set this up? 

If you want to learn how to do this (yes, even if you’re not tech savvy)…

Well, you’re in luck. Below I’ll share step-by-step instructions for how I set this up and how you can too.

How Top Syndicator, Michael Blank, is Using Automation in His Business

I interviewed well-known multifamily syndicator, Michael Blank, to see how he’s using automation in his business.

You’ll learn:

  1.  How automation can save you time in your investment business
  2.  How to keep important leads from falling through the cracks
  3.  Pros and cons of different CRM services (Customer Relationship Management)

Want step-by-step instructions on how to set up these automations?

Download the Checklist

The Easiest Way to Get Your Automations Set Up

At Apartment Investor Pro we provide websites for multifamily investors that have all the tools you need to set up automations like these.

The Pro plan includes all the tools you need to do it yourself.

With the Executive plan we set up the automations for you. It doesn’t get any easier than that. To learn more visit ApartmentInvestorPro.com