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WS131: How to Avoid some Common Mistakes in Multifamily Syndication with Charles Dobens

real esate syndication, real estate investing

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Summary:

Charles Dobens, Founder Multifamily Investing Academy and Principal, Dobens Law shares some common mistakes that new investors make in the multifamily syndication business, and reveals some effective ways via which you can mitigate risk and gain traction in the early stages of your investing career.

This show starts off with Charles sharing WHY he formed the Multifamily Investing Academy. Drawing from his decades of experience as a real estate investor, Charles shares some Expert Tips which can help you mitigate risk and avoid losses in the initial stages of your investing career. How can reach a property count of 1,000 units without taking any undue risks? You will learn why a slow and gradual transition is the best alternative for you and your business.

In this show, you will also learn the basic principles of correctly valuing a multifamily property. Overpaying for a multifamily property can end your investing career even before you gain traction. How can you avoid this? We reveal to correctly analyze T-12 statements by discovering financial discrepancies. We also reveal why new investors should consider investing in tertiary markets. Towards the end, we discuss how implementing systems and processes can help you run your business in a more efficient manner. Tune in for some great insights!

Time Stamped Show Notes:

  • 00:29 – Whitney introduces Charles to listeners
  • 01:07 – Charles reveals how and why he transitioned from the insurance business to the real estate investing business
  • 02:03 – Charles forms Multifamily Investing Academy to teach investors how to buy property the right way
  • 05:03 – Rectifying a mistake at a later date is incredibly difficult in multifamily syndication
  • 05:45 – How leverage can allow you to earn handsome ROI’s in multifamily investing
  • 07:45 – Charles reveals how you can reach 1,000 units in 5 years without taking unnecessary investing risks
  • 08:45 – Charles cautions investors against overpaying for a multifamily property
  • 09:35 – How to correctly value a multifamily property based on the net operating income and cap rate
  • 11:17 – Should you reconsider investing in a multifamily property if the financials show a sudden spike in rental revenues?
  • 12:08 – Is your seller trying to hide expenses in order to make property financials look better?
  • 13:30 – How to analyze T-12 statements and correctly estimate property value by analyzing the expense ratio of a property
  • 14:15 – Can you run the risk of investing in a deep value-add property in an unfamiliar market?
  • 15:49 – Should you invest in an all-bills-paid property?
  • 18:16 – Charles reveals why investing in tertiary markets can prove to be a wise decision for folks who are just starting out
  • 20:38 – Understanding the differences between primary, secondary market and tertiary markets
  • 21:53 – What has been the most challenging aspect of the syndication market for Charles?
  • 23:26 – Charles shares how a greater focus on marketing has helped him improve his business
  • 24:47 – Can you get more leads and higher conversions by using marketing funnels and automation?
  • 25:33 – What is the number one thing that has contributed to Charles’s success?
  • 26:46 – How is Charles giving back to society?
  • 27:56 – Will an accountability partner help you meet your end goals?
  • 29:04 – Don shares his contact information
  • 30:28 – Schedule a call with Whitney now!
  • [spp-timestamp time=”30:48″] – A Special Thanks to our sponsor, LifeBridge Capital

In this episode, you will learn

  1. How to analyze a T-12 statement, discover financial discrepancies and accurately estimate the value of a multifamily property
  2. Why investors should invest in tertiary markets rather than primary and secondary markets
  3. Why you SHOULD  avoid investing in an all-bills-paid property

Resources

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