How to gain confidence in the deals you're picking?
I’ll give you four ways to get confidence to know if your deal is a good deal to invest in.
1. Look at MANY Deals - I look at hundreds of deals before I find one.
2. Know the Numbers - Do the numbers look accurate to you? If you are looking at a deal and expense ratio sitting at 32%, those numbers are not accurate. You get to know all these sorts of things because you experience going through a lot of deals.
3. Have Strong Team Around You - Building a team with property management, attorneys, bookkeepers, inspectors, bankers, and all these things is so important when putting a deal together. Your team that only helps you with underwriting in terms of costs and operations post-purchase but also gives you an idea as to how the market is today.
4. Modeling and Due Diligence - All these things need to fit into diligence model. You have to make sure that whatever you're feeding into your model makes sense and leave plenty of room for fudge factors.
After you have the confidence in the deal, you will need to answer other questions on how to get the deal done, like financing and partnering.
If you want to learn more about the multifamily, check out our live events at https://www.meetup.com/bulletproofcas...
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