586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/Andrew Cushman

Want to know how to analyze a multifamily property? Maybe you’ve analyzed duplexes, triplexes, quadplexes, or even ten-unit apartment complexes before, but what about the big deals? We’re talking about multi-million dollar multifamily investments, with hundreds of units, large debt and equity structures, and many, many small pain points only experienced investors would notice. If you’re looking for an in-depth overview of how to find, analyze, and buy a large multifamily property so you can build passive income and serious equity growth, then Andrew Cushman is the man to talk to. Andrew is so good at what he does that he's partnered up with BiggerPockets Podcast host, David Greene, to invest together. In Andrew’s previous episode, he touched on the “phase I underwriting” that comes with analyzing a multifamily deal. In this episode, Andrew focuses on what investors should do after they’ve triaged their deals and are left with only the best in the bunch. Andrew spent years worth of time analyzing deals to come up with these eight steps. He shares them today so you can have less headache and more investing success than when he started! In This Episode We Cover: How to quickly screen for potential hidden gems in the multifamily space The eight steps that lead to perfect multifamily underwriting so you can make the best offer possible “Loss to lease” and using it as a value-add opportunity that most investors miss Getting debt quotes, insurance quotes, and accurately calculating future property taxes Who’s opinion you need to ask for before going through on a multifamily deal Looking for the opportunities and traps within a seller’s finances Writing an LOI (letter of intent) and getting bigger deals under contract And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel DavidGreene Team BiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal BiggerPockets Store BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman Axiom Metrics CoStar ALN Apartment Data Apartments.com Rent.com Parks and Recreation (TV Show) David Greene's Webinars David's Instagram Andrew's Visuals Example 1 (Spreadsheet File) Example 2 (Spreadsheet File) Example 3 (Spreadsheet File) Rent Increases Loss to Lease Debt Quote Property Taxes Renovation Budget (Spreadsheet File) Connect with Andrew: Andrew's Linkedin Profile Andrew's Company Website Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-586

Episode 586 of the BiggerPockets Real Estate Podcast podcast, hosted by BiggerPockets, titled "586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/Andrew Cushman" was published on March 22, 2022 and runs 82 minutes.

March 22, 2022 ·82m · BiggerPockets Real Estate Podcast

Summary

Want to know how to analyze a multifamily property? Maybe you’ve analyzed duplexes, triplexes, quadplexes, or even ten-unit apartment complexes before, but what about the big deals? We’re talking about multi-million dollar multifamily investments, with hundreds of units, large debt and equity structures, and many, many small pain points only experienced investors would notice. If you’re looking for an in-depth overview of how to find, analyze, and buy a large multifamily property so you can build passive income and serious equity growth, then Andrew Cushman is the man to talk to. Andrew is so good at what he does that he's partnered up with BiggerPockets Podcast host, David Greene, to invest together. In Andrew’s previous episode, he touched on the “phase I underwriting” that comes with analyzing a multifamily deal. In this episode, Andrew focuses on what investors should do after they’ve triaged their deals and are left with only the best in the bunch. Andrew spent years worth of time analyzing deals to come up with these eight steps. He shares them today so you can have less headache and more investing success than when he started! In This Episode We Cover: How to quickly screen for potential hidden gems in the multifamily space The eight steps that lead to perfect multifamily underwriting so you can make the best offer possible “Loss to lease” and using it as a value-add opportunity that most investors miss Getting debt quotes, insurance quotes, and accurately calculating future property taxes Who’s opinion you need to ask for before going through on a multifamily deal Looking for the opportunities and traps within a seller’s finances Writing an LOI (letter of intent) and getting bigger deals under contract And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Youtube Channel DavidGreene Team BiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal BiggerPockets Store BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman Axiom Metrics CoStar ALN Apartment Data Apartments.com Rent.com Parks and Recreation (TV Show) David Greene's Webinars David's Instagram Andrew's Visuals Example 1 (Spreadsheet File) Example 2 (Spreadsheet File) Example 3 (Spreadsheet File) Rent Increases Loss to Lease Debt Quote Property Taxes Renovation Budget (Spreadsheet File) Connect with Andrew: Andrew's Linkedin Profile Andrew's Company Website Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-586 Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode Description