April 2009
You are browsing the archive for April 2009.
Buying Multifamily Properties That Will Cash Flow for You
Your approach when buying a multifamily property should be to only buy properties that will cash flow. You want to be able to pay for them and leave some cash at the end of the day. As a buyer, you want the cap rate to be greater than the prevailing interest rate plus 2%. Cash [...]
The Pros and Cons of Offering All Bills Paid with Apartments
An “all bills paid” property means that there is one bill for the entire property and you are paying the electric bill instead of the tenants. As a result, you charge more for rent. You will discover that many properties, especially Class C, will be “all bills paid” properties. You need to weigh the pros [...]
3 Ways to Reposition Your Multifamily Property
Are you trying to figure out a way to raise the rent on your multifamily property? You can raise rents through a process called repositioning. Whenever you buy a property and make improvements or repairs or convert a property from a Class D to a Class C or a Class C to a Class B, [...]
Aha Moment Video: It is possible
Here is one student’s Aha Moment from Lance’s recent Live Event: “It was when I realized yesterday that it, that it is at least theoretically possible and others have done it to one deal with my J – O – B.”
Raising Rent and Increasing Collections as Means to Increase Revenue for Your Multifamily Property
Increasing the revenue of your multifamily property does not always mean that you have to add an amenity or a service. Finding additional revenue can be as simple as increasing the rent or increasing the collections. If you are looking at raising revenues on your multifamily property, there is a very simple formula that you [...]
What a Multifamily Property’s Class Can Tell You
When you are dealing with multifamily properties, it is very important to understand the different classes of properties. The class that a property is assigned can tell you a lot about the property and if it is worth your time and money to invest in. There are four different property classes: A, B, C, and [...]
Interview With Toni Ward
Toni Ward, a graduate of my program, was interviewed about her first successful multifamily deal. Toni debunks the myth that you have to “graduate” from single family housing to multifamily housing. Listen as Toni shares her experience and what she learned through the process.
Aha Moment Video: Do Your Feared Things First”
Face your fears head-on. Lances says: “Do your feared things first. Because that’s what’s the huge energy block that’s holding us back. Again, the first olive out of the jar is the hard one.” Jim, a student of Lance Edwards’, adds his own observations: “All the people working the program call them brokers from day [...]
Interview with Apprentice Rich Hadden
Rich Hadden, a graduate of my Raising Private Money Program, was recently interviewed about his experience with my programs and how I made all of the pieces fit for him to be able to put together his first multifamily deal. The key ingredient to putting together a multifamily deal lies within your ability to raise [...]
Market Cap Rates and How They Can Affect Your Multifamily Property Value
You need to know how to “cap out” a property or create value in a property. If you are going to wholesale properties, you need to understand this concept because it improves your ability to package your deals for sale to another buyer. Understanding Market Cap Rates is vital to increasing value in multifamily properties. [...]