Lance Edwards' Apartment Wealth Info

Let’s do some more myth busting. (Keep in mind that the more prevalent these myths are, the less competition there is).

Besides not needing big cash – or any cash – to be an apartment entrepreneur, you can do it on a part-time basis. Just like I did when I was starting out.

In fact, multifamily is much easier than single family.

You might be saying, “Whoaaaaa. How can that be?” Let me explain.

Finding, qualifying and analyzing apartment deals is all about the numbers, the financials. These deals are based primarily – if not exclusively – on the financial performance. Hence, we can evaluate these deals without first having to see them.

Let me say that again.

Because the apartment value is driven by the financial performance, you can evaluate apartment deals without first having to see them.

Yes, you will ultimately look at and inspect these properties but this is NOT a business where the first thing you do is drive across town to check out the color of the carpet and the comps of the neighboring houses.

Evaluating and buying apartments is more akin to buying businesses than buying houses. And if you were buying a business, and a Seller called you, your first reaction would not be to drive across town to look at the lobby. Your first response would be to request a copy of the Profit and Loss Statement.

Well, the same holds true for apartments. Hence, you can evaluate the financial particulars of apartment deals from your home or office – and on a part-time basis. You don’t have to be chained to your car.

You need a calculator, a PC, a phone and 6th grade math skills. (More on that later.)

And with less competition than houses, you don’t have to be worried that the Seller is simply calling every “We Buy Houses” ad in the Sunday classifieds. Finally, you don’t have to slug it out house by house – praying that someone else hasn’t gotten to the house before you have.

This is apartment entrepreneurship – where you are evaluating, buying, flipping and holding apartment businesses.

KEY TAKEAWAY: You can do apartments on a part-time basis. You are evaluating apartment businesses.

Lance