5 Takeaways from “The Multi-Family Millionaire, Volume II”

“The Multi-Family Millionaire, Volume II,” by Brandon Turner and Brian Murray, takes a deeper dive into finding, evaluating, underwriting, and funding multifamily properties. You may not be interested in buying a multifamily property right now, but this book is still a must-read.

This book gives you the inside scoop on how to purchase multi-family property and run a business. You can leverage this information in almost any endeavor that requires fundraising, giving equity, taking on partners, and putting together a team.

1) If you want to buy massive multifamily properties, syndication can be an excellent fit for your needs. As a syndicate, you piece together multiple investors and then fundraise to bring everything together.

2) Syndication requires SEC approval because you are offering a financial security. Some syndicates need the investors to be accredited; others must be sophisticated. The most important rule of syndication is not losing your investors’ money.

3) Underwriting is perhaps the most critical part of the multifamily process. You must find any issues with the purchase during underwriting (and even before underwriting).

4) Viewing the property from a lender’s perspective is a good idea. Lenders don’t want to own the property if you default, so they want to ensure everything is in order. This means looking at the property management team, the investors’ track record, and the property’s history and financial situation.

5) The six components of underwriting are documentation, location, tour, property management, value-add, and the model. Each will give you a deeper insight into the property’s past, present, and future.

Investing in Multifamily properties is a great way to create generational wealth; however, the stakes are high. You must talk like an investor, businessperson, and real estate professional.

Many tasks are involved in buying and owning multifamily properties, so you must rely on professionals such as securities lawyers and mortgage brokers.

Most of us will never own multifamily properties; however, it is vital that we understand what it takes to become a real estate investor of this caliber.

Ten years from now, we may be able to invest in multifamily properties as a syndicate member. This book can help you gauge the investors’ overall knowledge and competence. Good Luck!

This link is to a physical product. The link above is to the digital book. Sorry. I get no credit for digital product links.

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