Results for ‘How to’ category

What’s a new landlord to do?

I got an email the other day from someone I’m helping buy an apartment building. We’re at the stage in the process where we’ve gone from the theoretical work of modeling out different acquisition opportunities to the practical work of getting her in a position to start actually leasing out units. Reality has set in:

Multi-Family Millions: The book that started my career

If you’re interested in making money from re-positioning apartment buildings like we do, you should read Multi-Family Millions, by Dave Lindahl (that’s not an affiliate link; I don’t get paid if you buy it). A few warnings: The book is cheaply made. It feels like someone self-published it out of vanity. I recommend getting the

How to estimate what your property taxes will be

When you buy an apartment building, your two biggest costs will be your mortgage and your property taxes. It’s easy enough to estimate your what your mortgage payments will be (try this calculator)… but how do you estimate your property taxes? In California, we’re blessed with Proposition 13, which effectively limits your property taxes to

Why you should get pre-approved for a loan

Say you decided to sell your building and I offered to buy it. Say I offered you the following deal: I’ll buy your building for $1MM, but first I want you to guarantee you won’t sell it to anyone else for the next 45 days while I get the money together. You would be an

OK, I want to buy a building. What do I do first?

Call me. J/k. Sort of. The first thing you need to do is take stock of your current position. Here is what you need to get started: A decent credit score. FHA will loan down to a 580 score, but ideally you’d be north of 700. A stable work history. The ideal loan applicant would

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