Live Q&A - Multifamily Financing, Why People Don’t Take Action, Market Shift Analysis, and Hiring Acquisition Specialists

Just Start Real Estate with Mike Simmons

Highlights From The Show:

Welcome to this version of the Just Start Real Estate Podcast! I am excited to bring you another replay of my Live Question and Answer sessions. For those people that are unable to join us live, this will provide an opportunity to hear the awesome questions I am fielding about business, taking risks, real estate, and so much more!

This presentation is the live Q&A that I did the week of September 21st and each Thursday we will offer you another chance to take advantage of listening to the answers to our guests’ fabulous and compelling questions! Don’t miss this new episode of the Just Start Real Estate Podcast!

Notable Quotes:

“Good news for you - I wasted my money and not yours.”

“I would go to the lending institution first because they are going to have some hoops you need to jump through and you might as well know that upfront.”

“Multifamily properties have a much longer due diligence period than single-family homes.”

“If you are a serious multifamily investor for the long term, eventually you will be trying to raise money.”

“It is unlikely that your tenants were awesome for the last owner and terrible for you.”

“It doesn’t sell a house quickly if you tell a potential buyer that the tenant doesn’t pay and is a total pain in the butt.”

“My suggestion is to give them a seven-day eviction notice and tell them that if they are not current with their rent by that seventh day, you will proceed with eviction proceedings and will not stop. Even if they become current on day eight.”

“It sounds harsh, but you must follow through with your proposed consequences. You tell them what you are going to do and then you do it.”

“Insert crazy, random - probably - lie.”

“Sounds to me like you may have done poor due diligence.”

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