Creative Capital Podcast 107: Buying Your First Multifamily Deal: Part 1

<p><span style="font-weight: 400;">Welcome back to the Creative Capital Podcast with Josh Ferrari! This No-Limit Minute Segment is Part 1 of a multi-part series about buying your first multifamily deal. I am going to take you through the step-by-step process of acquiring your first multifamily deal and share all the things you need to know before starting your journey. In this episode, we will talk about underwriting the property, walking the property, location analysis, and reviewing service contracts. I am also going to talk about the importance of creativity in underwriting and building relationships with brokers. Listen in!</span></p> <p><br /> <br /></p> <p><strong>[00:01 - 05:54] Underwrite the Property  </strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Building relationships with brokers</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Looking at the financials</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">It comes down to creativity</span></li> </ul> <p> </p> <p><strong>[05:55 - 08:43] Walk the Property</strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Pay attention to all possible capital expenditure items</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">There are instances where retreating makes sense</span></li> </ul> <p> </p> <p><strong>[08:44 - 10:20] Location Analysis</strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Do your analysis a step deeper</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Macro and microeconomics</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Why checking out the other multifamily assets in the area is key</span></li> </ul> <p> </p> <p><strong>[10:21 - 17:42] Review All the Service Contracts</strong></p> <p