571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal 01:18:24

    <p><strong>Real estate underwriting</strong> isn’t a commonly used term within the residential world. If you’re used to dealing with single-family homes, duplexes, triplexes, or quadplexes, you’ve probably done real estate underwriting to some degree, but you’ve called it “<a href="https://www.biggerpockets.com/blog/real-estate-investment-analysis"><strong>real estate analysis</strong></a>”. In both scenarios, investors are looking at <strong>what they’ll make on a deal</strong>, <strong>how much they need to invest</strong>, and what <a href="https://www.biggerpockets.com/blog/exit-strategies-real-estate"><strong>exit strategies</strong></a> they have.</p><p>But, in a hot housing market, like we’re in today, by the time you analyze a deal, a deal may already be gone.<strong> You need a way to quickly sort deals into the “pursue” or “dump” piles</strong>, and <a href="https://www.biggerpockets.com/users/andrewc58"><strong>Andrew Cushman</strong></a>, expert multifamily investor, may have just the solution for you. Andrew has been on the BiggerPockets podcast before and manages<strong> over 2,600 units</strong>, so he definitely knows what he’s talking about!</p><p>Today, Andrew showcases the phase one underwriting he uses to <strong>decide quickly on deals</strong>, as well as the <strong>four levers to look at before </strong>even getting into underwriting. His system can <strong>save you hours, or even days</strong>, if you’re a full-time investor, and it helps rookie investors quickly analyze deals so they can get into the game. Now, residential owners can transition into <a href="https://www.biggerpockets.com/blog/commercial-real-estate-fundamentals">commercial real estate</a> with better scale and bigger profits.</p><p><strong>In This Episode We Cover:</strong></p><p>How Andrew<strong> scaled from zero to 2,600 units </strong>in only ten years</p><p>The basic screening process that allows you to <strong>triage your deals and waste less time</strong></p><p><strong>Four levers every investor should look at </strong>when analyzing a new deal</p><p>The six factors of phase one <a href="https://www.biggerpockets.com/blog/underwriting-multifamily-calculate-egi">multifamily underwriting</a> and using it to<strong> unlock “home runs” </strong></p><p>Developing and nurturing broker relationships so you can <strong>get off-market deals before your competition </strong></p><p>And <strong>So </strong>Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/blog/2016-04-07-bp-podcast-169hustle-persistence-build-wealth-real-estate-david-greene">BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene</a></p><p><a href="https://www.biggerpockets.com/blog/2016-04-14-bp-podcast-170journey-flipping-houses-owning-1470-units-andrew-cushman">BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman</a></p><p><a href="https://www.biggerpockets.com/blog/biggerpockets-podcast-270-turning-your-primary-residence-into-40-units-and-financial-independence">BiggerPockets Podcast 270: Turning Your Primary Residence Into 40 Units &amp; Financial Independence with Amy Arata</a></p><p><a href="https://www.biggerpockets.com/blog/bp-podcast-279-how-to-find-overlooked-opportunities-in-a-hot-market-with-andrew-cushman">How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman</a></p><p><a href="https://halelrod.com/">Hal Elrod's Website</a></p><p><a href="https://biggerpockets.com/calc">BiggerPockets Calculators</a></p><p><a href="http://biggerpockets.com/david">Submit your Question for an upcoming Seeing Greene episode!</a></p><p><a href="https://www.costar.com/">CoStar</a></p><p><a href="https://www.esri.com/en-us/home">ESRI</a></p><p><a href="https://www.loopnet.com/">LoopNet</a></p><p><a href="https://www.investwithdavidgreene.com/">Invest with David Greene</a></p><p><a href="https://instagram.com/davidgreene24">David's Instagram</a></p><p>Check the full show notes here: https://www.biggerpockets.com/show571</p>
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