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Investing Strategies

Your First Apt Deal: Smart Market & Property Selection

cautionSo you finally decided to test the waters of multifamily investing, huh?

Congratulations, my diversifying friend!  You have made a wise decision, and your real estate portfolio will soon be thanking you!

Of course, deciding to “take the plunge” is only the first step.  Now you need to figure-out the best direction in which to dive.

(And you must be careful!  Some multifamily markets are dangerously shallow, and some apartment buildings should be avoided like deadly rocks!)

Let Chris Urso Be Your Diving Instructor

As you prepare to immerse yourself in the waters of apartment ownership, you still have many questions about specific market- and property-selection tactics:

  • Should you start in a local market, where you can be “hands on”?
  • Should you start in a remote market, where you might be able to hire the best managers?
  • Should you start with a high-class (expensive) property, or a low-class (cheap) property?
  • How should your long-term investing goals drive market- and property-selection tactics?
  • How should you investigate “your biggest opportunity” for multifamily ownership?

Fortunately, multifamily veteran Chris Urso has agreed to answer each of these questions – and more – in today’s lesson!

sharkYes, in the same way that an expert scuba diver knows how to find the ocean’s most beautiful scenery while avoiding shark-infested waters, Chris knows how to find the apartment sector‘s best deals while avoiding the pitfalls that threaten to ensnare less-experienced investors.

Chris has been investing in real estate since 2001, and he now controls over $15 million of multifamily real estate while also structuring investment partnerships to acquire large apartment complexes.  Additionally, as a mentor and coach for rookie investors, Chris has also been busy teaching others how to mirror his accomplishments, including these previous Mogul lessons about multifamily real estate:

So, without any further ado, check-out today’s video and learn how to use the smartest strategies for selecting your first apartment building.

Chris Urso helps you decide where and how to dive in …

{Mogul Elite: Download a transcript and MP3 of this lesson in the Power Pack tools for this lesson.}


Do It To It! Immediate Action Steps

Consider Your Assets – Conduct a personal inventory to identify which financial, relational, and experiential assets are at your disposal.  You will want to align these assets with your goals for investing in the multifamily sector.

Research Nearby Job Growth – Identify which markets have positive employment trends within a 1-day drive (or a 3-hour direct flight) of your home.

Identify Your “Top 3” Markets – Based on your employment-related research, identify the “Top 3” apartment markets within a 1-day drive (or a 3-hour direct flight) of your home.

Loopnet.com – Use Loopnet.com (“Premium” membership = approximately $250 per quarter) to investigate which multifamily properties are offered for sale in each of your “Top 3” markets.

Network – Call brokers and property managers associated with interesting properties from Loopnet.com, in order to (i) introduce yourself and (ii) research leads for B-grade and/or C-grade properties (in B-grade and/or C-grade markets).

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