“How do I go about getting finance for a 20 unit apartment building?”
February 25, 2009
Tonight will be the day of our first teleseminar, I will be addressing some questions and go over as many as I can. Thank you for the great feedback. Remember that it will be a teleseminar series, don’t worry if I don’t cover all of them. It’s more important to me to help you learn about the business first.
Talking about learning, the question above came from California, it’s a great one. However, the most important point is not getting finance to acquire your apartment building – the question is: are you buying the right one?
First of all you need to understand the area the apartment community is in, then you need to find the reason why they are selling it. Is it because they have a negative cash flow? Is it because they are tired of doing the management themselves? (by the way, you are not in the management business. I have made mistakes trying to do the management myself and I don’t want you to do the same). Is that a bank owned property?
Once you have that figure out, the next step is to find about the current financials on the property and how you can negotiate to make your investment even more profitable.
Remember that the point is not about buying an apartment community, the point is about buying the right one. That is what we will work together.
See you tonight and MAKE IT HAPPEN!
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