Apartment Cash Flow / Real Estate Private Money 101 – Dennis Fassett
Dear friend, To be honest. You’ve always been intrigued by the idea of owning your own apartment building, haven’t you? I cannot blame you. Who could it be? After all, the benefits are quite exceptional and speak for themselves … Maybe it’s the desire to increase your reliable cash flow every month … Or maybe you are attracted to the idea of giving your net worth a noticeable injection … Maybe you know you need to take a raging retired bull by the horns to make sure you are able to maintain the lifestyle you enjoy and deserve … Or maybe you just realize that the ridiculously rare opportunity that today’s market presents on a silver platter is too good to let it pass by … Whatever your motivation, if you want to know what it takes to invest in your first apartment building, then congratulations … Youjuststruck peidert Do you want to buy your first apartment building? I’m here to help make this a reality. I want to show you how you can do this in just 90 days. And the best part is that you benefit from my real life experience, which is happening right here in the trenches of this very real estate market. The good, the bad and the ugly … I saw it all, I did it all, and now I reveal it all to you. This way you can cut a huge chunk off your learning curve. In short: who I am and why you should care … Hi, I’m Dennis. I first started investing in real estate out of necessity and fear more than anything else. I’m a corporate guy – a retired investment banker with an MBA in finance – moved into the auto industry in Detroit before it collapsed, punching me in the face how “insecure” I really was. I got scared and suddenly realized that I had good reasons for that. Taking matters into my own hands, I explored many different businesses, from franchises to MLM and everything in between. I eventually came to realize that renting real estate – and especially small to medium-sized apartment buildings – is by far the best, safest, most reliable way to build a financial safety net that I know my family deserves. Once I got my mind set on this and learned the ropes (just enough), it only took me 90 days to buy my first mid-range apartment building. This experience was a huge learning process for me, and not without mistakes. But I still own this building, and it is still very good for me. I picked up a few others. I now have over $ 3 million in rental properties and I manage most of it myself and do it all while still enjoying a full day job that I really love. The thing is, I hacked into the code on how to make both worlds good … It’s 1) How to buy a really great, first-time acquired real estate cash cow and 2) How to do it all (and manage it) while maintaining full employment that I really love. I am asked all the time about what is needed for this and how to do it. And this is an adventure, let me tell you … but the rewards are great and well worth it. WhichisexactlywhyIdecidedtoblueprintthewholeshebangfromstartto end. I took a step back and forced myself to answer two very important questions: Question # 1: What does the whole process look like from start to finish? From the steps you take to who you talk to and when … from the criteria that I use to the specific type of apartment I would choose (and the one that which I would not choose) … soup-to-nuts … a-to-me … Question # 2: If I could do it again, what would I do differently? It’s about learning from my mistakes. Helping others (like you) cut their learning curve much shorter than mine (although I did it pretty darn well)
Answering those two questions well – I mean really giving them their due – well, to be honest, it became my obsession for months. I began to strive fiercely to get it all organized so that everyone can follow the steps, do exactly what I say, and ultimately invest wisely in their first cash flow apartment and do it pretty well. After many months of hard work, I am pleased to report that the end result is even better than I originally thought. Truly one of my most proud achievements. This is what I like to call Apartment Cash Flow 101. So let’s take a look and see … – What is Inside? ” Module 1: First Things First I believe everything should be as simple as possible. So we start from the very beginning, with a mile height that sets the stage for everything else. You will learn… … … Exactly where you are going (what is ahead in training) … … What will you learn at every step of your way … … How to best consume and digest it … … How to get the most out of this … … A little more about me and my experiences … … Look at the specific type of apartments I am targeting (size / price range) and why When you first enter a new shopping mall without a clue of how it works, what is the first thing you want to do? Find the mall map! This is what this module is. This is your “mall map” for the rest of the course. A starting point that will show you exactly where we are going and what awaits us. Module 2: Why Multi-Family Buildings? Before you understand the how, you really have to start by wrapping your mind around the why … and perhaps even more importantly, why now … … … What is the situation with commercial real estate in the modern market? … … Apartment buildings versus other commercial properties … … Do the job once: cash flow now and cash flow later … … Tax breaks now: why do you think the rich buy real estate? … … 1995 versus 2006 versus today … … Where are the foundations of an apartment building today? … … The Coming Tidal Wave of Commercial Foreclosure … … Why apartment buildings are the right transport This module sets the stage for others ahead of it. If you don’t understand why, then how doesn’t really matter, does it? Module 3: 8 People You Should Talk to When Getting Started (And Why) Anyone can see that buying your first cash flow apartment can be daunting, confusing, and difficult. But it certainly shouldn’t be for you. In addition to studying my experience in this course, there are exactly 8 other people you need to find and get to know. I call them the “Great Eight,” and this module focuses on how to find and approach them so you can … … … Protect yourself from buying lemon … … Connect you with the best financing options for your unique situation … … will help you understand the true value of any apartment building you are considering … … Protect your investment in all the right ways … … Manage your property and your tenants without taking responsibility for your life … … Protect yourself from liability during and after your purchase Module 4: Your 7 Essential First Steps In addition to getting connected to the G8 (see Module 3), I also found that there are several other important things that you would benefit from prior to purchasing your first cash flow home. I’ve boiled it all down to seven key steps that I definitely recommend that you take first. These seven essential steps are designed to help you … … … Close your knowledge gap … … Build your base of operations for your first apartment endeavor … … Protect yourself as much as possible from personal liability … … Create your business object … … Get yourself in order and be ready to “do business” … … Assess the resources you have (e.g. cash, time, family support, etc.) Basically, it’s all about setting yourself up for success right from the start.
Module 5: Reality Check Have you ever noticed how many of our popular industry gurus seem to be obsessed with painting the rosiest, most unrealistically easy picture of investing in apartments? They do it because, frankly, fizz sells. It’s sad but true. And it leads far to many of us along the primrose path, which we’re sure is lined with rainbows and puppies … until we actually walk down it and get a dose of how things work in the real world. Maybe you can understand? Don’t get me wrong – I truly believe that fruit has never been juicier – the opportunity has never been hotter – than right now for buying your first cash flow apartment. But, in my opinion, it would be right to give you the most accurate picture of how it looks in the real world. And that is why I devoted an entire session to this. This is my opportunity to clarify the situation, dispel common myths and hype that I hear around investing in apartments, and give you a healthy dose of reality. “First of all, I would like to personally thank Dennis Fassett for providing such great content. At times I am overly analytical and I am glad that this program showed me step by step what I need to do in order to acquire my first apartment building. Unlike other programs that leave me wondering what to do next, Dennis is really laying out a treasure map for all of us. ” Christopher Nicrarestaurant Manager & Certified Personal Trainer Module 6: What Should You Buy? This is where we get down to business. In this module you will find … … … What are my general goals when buying an apartment? … … What are the most important # 1 criteria that you should look for? … … What is my 2nd most important criterion for buying a new apartment? … … How many units do I recommend if you are driving yourself? … … How many units if you hire a management company? … … What type of buildings do I particularly prefer and why? … … Roofs: pitched or flat? … … Construction: brick or frame? … … The enormous importance of the constant demand for rental housing ……And much more. Module 7: Where Should You Buy? Place, place, place. We’ve all heard that, right? This is a timeless truism in real estate, but the actual application can be a little tricky. Of course, location matters … but which location? This module is all about answering this question as it relates to your first investment in an apartment. We will discuss your goals and why they matter in your choice of location. Should you explore the higher end, lower end, or somewhere in between? City, suburb or country? How important is transportation and shopping?
Basically, my goal here is to share my personal location criteria and help you understand my mindset behind them, and then help you think about how to choose the ideal target locations for your focus based on your region and what you really want to do. Don’t miss this – this is the primary decision to consider. … Module 8: Where Do You Find Great Deals? Here we will look at how and where to effectively find the best apartment deals available in your market. It has much less to do with location and more with tactical methodology – how to actually focus on deals with apartments you want to seriously consider. We’re talking about commercial brokers (old school and new), internet, MLS, Loopnet, Craigslist, real estate websites, etc. I will mainly talk about my personally preferred methods, how I personally found my apartment deals, and my opinion on how much weight and time you should put into each one. … … Module 9a: Evaluating a Deal – Terms You Should Know The point is, buying your first cash flow apartment is not rocket science. But you have to understand the language, formulas and how to use them. So this is where you wrap your mind around concepts like … … … Net Operating Income (NOI) … … Cap Rate … … Debt coverage ratio (DCR or DSCR) … … Cash back … … Cost Per Door / Cost Per Unit And I’m not just defining them for you. We are actually working with examples of how to calculate them together. These concepts are critical, and by the time we finish this session together, you will not only understand how to use them, but why they are so important to your due diligence assessment. Module 9b: Deal Evaluation — Practice! This is where you come into play! .. The purpose of this session is to prepare you and send you hands-on calls and evaluating high-level leads on unnecessary leads. Just to get your feet wet so you get used to the process and help you deal with kinks in deals that probably won’t matter much to you. Look, I know this is a whole new world for many of you. And this, of course, may seem daunting at first glance. But practice makes perfect! And that’s why I dedicated a whole module to it. I’ll tell you what questions you should be asking and what information you need to collect from the salespeople, and then I’ll let you go to try it yourself. … Module 9C: Deal Valuation – Let’s Make It Practical “So This Is A Good Deal?” I get asked this question all the time. Unfortunately, I cannot answer it completely. I can tell you if I will, based on my criteria, proceed with the deal or not. But ultimately, only you can make this call for yourself. My task is to arm you for this. So, in this session, we will go through an example of a transaction together and I will guide you through the decision-making process … … … Does it fit well with your resources and constraints? … … Does it meet your personal ROI criteria? … – And what does the appearance tell you? … – What does the rent tell you? Limit rate? Cost per door? Roy? Financing? When we are done with this session, it will be much more convenient for you to evaluate the transaction on your own terms. Module 10: Designing Your Offer That’s where we go though how to actually make your offer, from start to finish. Do it wrong and you’ll look stupid at best and probably won’t even be considered a viable candidate. Do it right and you will go through every step brilliantly.
Together we will reveal everything … … … What is the first step in the formal buying process? … … Letter of Intent versus Purchase Agreement – What to Use When … … What’s in a good letter of intent? … … What are the significant contingencies that should be considered and included? … … How long should I reasonably ask for the inspection period? … … When does the click start ticking? … … An example of a real timeline … “This course is similar to taking a personal trainer through the entire process of buying an apartment. The information provided is an inside look at the detailed stages of buying an apartment. Dennis’ team is first class and I am confident I can sign my name to the act this year following his agenda. ” Andy Nemeckay3rd Party Organization Planner real estate investor Module 11a: So Your Proposal Has Been Accepted … And Now What ??? (Part 1) So you have a contract. Time to sit back and relax? Hardly! This is where the real hard work is done. It’s time for your real due diligence process … time to collect … check … collect more … and check again … … … What should your due diligence absolutely cover? … … What items are optional but need to be considered? … … Why is the order of your due diligence so important? … … How to save money and significantly reduce your financial risk during this time … … Which four numbers of operational reports should you ultimately review? … … What operational data should you be looking for? … … How do you verify the actual transaction data that the seller gives you? … Module 11b: So Your Offer Is Accepted … And Now What ??? (Part 2) Continuing from the previous session, because this is too much to fit into just one lesson! In this session we will look at everything together … … … How should you deal with any material differences that you find? … … Tasks to be solved and Internet switches … – How and when should you renegotiate the terms? … … What is the “first phase of the environment” (and how important is it?) … … How important it is to do everything in parallel! You will learn about these things not only theoretically, but also from the point of view of the real perspective of one of my previous transactions, which I reviewed several times during due diligence before we finally decided to close. This is how this game is played and you should be aware of. Module 12: obtaining funding and closing a project Finding your deal on a smoking apartment is one thing. Getting funding is another matter entirely. This is where we will crack this nut and look at it realistically together. The point is, the days of easy commercial mortgages may be a thing of the past, but with the right know-how, you can still provide yourself with the banking support you need. Some of the important questions we will be answering include …
… … What is the process of a commercial mortgage today? … … Owner financing: is it sustainable in today’s commercial arena? … … What about borrowing private finance from a private person? … … What is the process of owner financing and private financing? … – What about basic funding? Can you just take it over? … – What about independent Ira? … … What about a partnership with a money partner? … … Once you are done with your due diligence and funding … what are the final steps to take? Module 13: Case – Study – My First Apt. Building This is where we see how it all played out in the real world on my very first trade – a trade that was certainly not without a few mistakes (which you don’t need to make), but which still belongs to me today. And yes, she continues to be a cash cow for me, like a clock, month after month. After a quick overview of the 10 acquisition steps we covered in previous modules, we take a closer look at my first apartment investment together, including … … … Size: how many were there? … … Place: where I bought it and why … … Features: Exterior type, roof, installation of utilities, etc. … … Figures: capitalization rate, profitability, etc. … … Module 14: six months to stability and cash flow Let’s face it – we don’t buy an apartment building just for fun. We want to make money … good money! … as fast as possible! So this chapter is about how to not only get started, but also set yourself up for the first 6 months to create as much stability and profit for yourself as possible. We’ll talk more about this. … … … Fast filling of vacancies … … How to Become Your Network Marketing Tenant Before You Close … … Special tactics such as special rental deals, referral bonus programs, etc. … … Tactics “under new leadership” … … Culling the herd – cleaning up existing tenants … – How strictly should you apply the new rules to old tenants? … … 7-day notifications … … When to enter the market for new tenants … … Signage tactics Module 15: Important Lessons Learned I give you a huge advantage here in being able to learn from your mistakes. Rest assured, I’m doing pretty well with apartments. But there are definitely a few things I would like to do differently, and I just have to pass on these invaluable lessons to you. This is the essence of this session. You will learn… … … My big lesson on when to pay for your examination (and when not) … … Why is it so important what time of the month you close … … What I learned about accurate unit estimation in advance … … My mistake is that I relied too much on the owner after closing … … my big “resident manager” dumbass … … Why am I buying now as a partnership … … One huge thing that I had to discuss but didn’t even think about it … … My big (expensive) EMD mistake ……And much more Module 16: Your 90 Day Roadmap for Buying Your First Apartment Building At this point, you should be congratulated. It’s time for whiskey and cigars, because we’ve now covered all my blue stamp together and you’re ready to go and buy your first apartment building. Before you go ahead and succeed, this short, final session connects the dots for you on how all of this can actually be done in about 90 days. Remember, my first apartment building only took me 90 days from contract to closing and I’m no different from you. You now have my roadmap, and yes, you can do that too! And this module gives you a bird’s eye view of what your timeline should look like, step by step! And at this point I will say: …
– Congratulations, you are already fully equipped and ready to buy your first cashflowapartment building!” “Buying an apartment building is my next goal. I currently own a single family lease. By attending Dennis’ seminar “How to buy my first apartment building”, I gained the knowledge and confidence to make this purchase. Two points that helped me right away were tenant inspections and verification, because I used this information in my current enterprise. Dennis, Thank you for sharing your experience. ” Allan Cassell Electrical Substation Operator IcingontheCake: ARidiculousArrayofUnique Bonuses … Now, what you have seen so far (above) is the very heart and soul of my plan. Consider this as your core workout. But the point is, I am hopelessly committed to ensuring that you have no excuse for not taking action or moving forward on this matter. I don’t want anything to stand between you and your first investment in an apartment building, so I created a really incredible set of “bonus” sessions – or better yet, let’s call them “boosters” because they are really meant to amplify your core training as needed. In other words, I believe that basic training (above) is essential. Amplifier session below? They will take everything to a new level. But please … please don’t make the mistake of allowing yourself to feel stressed about going through all the “enhancer” sessions you see below – I know there are so many things! Instead, you should think of it more as a mind-blowing buffet of extra workouts that you can choose from any time you have a specific need or want to delve deeper into a specific area. Take a look and you will understand what I mean. … Bonus 1: Tutorial Cheat Sheet for All 10 Modules (Cost: $ 270) I mentioned earlier that my goal is to completely demystify the purchase of your first apartment and make the whole process as simple and straightforward as possible. And it goes without saying that you should get the most out of each workout. With this in mind, I’ve included a downloadable PDF Cheat Sheet tutorial – one for each module. The idea is to engage you in multiple ways to help you learn and save as much as possible. As such, you will find that each “cheat sheet” describes the key points for this module, with spaces for you to fill in as you go through each module with me. When you’re done, these “cheat sheets” will become your “Cliff Notes” for the entire course. Bonus 2: Case Study Video A – UD Manor Apartments (Value: $ 97) Even though UD Manor was the second tenement I bought, it would be the ideal “first timer” building. Location, condition, occupancy and history were first class. But in this case, “history” is what made the deal meaningful. I created this example to show you three things: 1. What a near-perfect apartment building looks like for the first time 2. Why you need to dig under a ticket listing and fully understand the seller and their “history” so you know what motivates them.
3. What a stunning ROI looks like and why there is no such thing as a free lunch Bonus 3: Video Case-Stage B – Park East Apartments (Cost: $ 97) Park East Apartments is a 45-apartment complex in the Detroit suburb, in the Detroit metro area. This is a fantastic building – great location, great condition, lots of upgrades, outstanding operating history, vendor funding, and a vendor “story” that made a lot of sense. I went behind this building – hard. I didn’t receive it because we couldn’t negotiate a price, but I created this case study to show you another near-perfect example of what you should look for when you buy your first apartment building. Bonus 4: Case Study C – Evil Black Hat Salesman (Cost: $ 97) This was my baptism by fire. The same fist deal I was pursuing – the one I had on a 90-day contract – died a couple of weeks before closing due to an evil black hat salesman. You’ll hear this whole dirty story, but to get down to business, he killed the deal and then refused to give me back my serious cash deposit. So I had to spend money to sue him to get my money back. I created this study to prove that there are no rules in commercial real estate and that many people just want your money. Bonus 5: Online, “Cakewalk” Trade Calculators (Cost: $ 245) It goes without saying that the right crunchy numbers for your trade are critical. This is not where you want to make a mistake! In my project, I’ll tell you exactly how to calculate all this, but it can still be easy to get it wrong when you do it the traditional way. This is why I hired a programmer to create some extremely simple, easy-to-use online calculators that you can use to make sure your trade numbers crunch correctly. I tell you there is no easier way to make sure your numbers crunch correctly when you are evaluating any trade. And these calculators are very easy to use, but just to be sure, I’ve included a simple “how” video for each one. You will get unlimited access to mine: … … Net Operating Income (NOI) Calculator … … Debt coverage ratio (DCR) calculator … … Limit Rate Calculator … … Cash back calculator … … Cost Per Unit Calculator
Take Apartment Cash Flow / Real Estate Private Money 101 – Dennis Fassett at Whatstudy.com
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- Lectures 0
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- Duration Lifetime access
- Skill level All levels
- Language English
- Students 169
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