June 2009
You are browsing the archive for June 2009.
Important Details Regarding the Due Diligence Phase of a Multifamily Property Contract
During the due diligence period of the contract on a multifamily property, you are doing a financial inspection and a physical inspection. Some lenders require an environmental inspection as well. During this important phase of the contract, you will need to request and inspect the rent roll of the property, copies of all current leases [...]
The Importance of Drawing Up a Letter of Intent When Completing a Multifamily Property Deal
The second step in the three step process of contracting and closing a multifamily deal involves composing a letter of intent for the seller. A letter of intent is a principle of understanding. It is a general agreement of what you plan to do so that you know you will not spend a lot of [...]
3 Steps for Contracting and Closing a Multifamily Property Deal
So you have found a multifamily property and you would like to close the deal. How do you close it if you want to hold it? Do you know the process that is involved? There is a simple 3 step process to follow to wrap up your multifamily deal. It involves qualifying the deal, due [...]
Aha Moment Video: Do it now – not later!
What’s stopping you from beginning your path to Financial Freedom? Be inspired by what this student of Lance Edwards’ Multifamily Success LIVE has to say: “Hi, I just finished Lance Edwards’ Multifamily Success LIVE and it was an absolute success! Lance delivered on every single point that he promised and I feel like that I [...]
Tips for Bird Dogging Multifamily Property Deals
There are many terms that are thrown around in the real estate investment arena. One of these terms is bird dog. A real estate bird dog, much like its canine counterpart, is out hunting deals. A bird dog is someone who finds something that looks like a deal and then hands it off for you [...]
How to Create an Effective Call Script for Potential Sellers of Multifamily Properties
If you are using a direct mail marketing campaign to reach potential sellers of multifamily properties, you need to have an effective call script in place for when the inquiry calls start rolling in. You need to keep three objectives in mind when speaking with an interested seller. You need to build a rapport, qualify [...]
Aha Moment Video: Extra Equity Built Into the Deal
A student at Lance Edwards’ Live Event has an Aha Moment regarding extra equity built into the deal: “When you showed that how that equity is built into someone that is coming in as an investor because I’m thinking “Okay, they’re giving me 20%” so they’re looking at me like “Wow, man, I’m giving you, [...]
Important Tips for a Successful Direct Mail Campaign to Multifamily Property Owners
Once you decide to begin a direct mail campaign to a targeted list of owners of multifamily properties, you need to have a specific message that you want to deliver. How do you get responses to your letters? Here are some tips to not only get your letter opened but read and responded to. First, [...]
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