If it survives that three-second pass, the next step takes hours. If it’s in a city that I’m not interested in investing in, it’s in the delete bin. If it’s too small, it’s in the delete bin. I basically will look at how many units, where is it and what year it was built. This is how I can tell if a deal needs to go in the delete bin or investigate further in three seconds. I’ll give you my three-second underwriting tests. I’m here to tell you none of that stuff works. I want to use a rule of thumb or I want to be able to screen a deal in 60 seconds or less and know if it’s any good.” It doesn’t work. There’s always those who will say, “I want to do a back of the napkin approach. The thing about underwriting is people always want to find an easy way to do it. Get us started a little bit on some common things about underwriting and things we should know. Maybe some problems you’ve encountered and how you keep those problems from happening maybe that you didn’t know when you started or years past. I want us to jump into the topic of underwriting, and as we dive in a little deeper, how you all underwrite and maybe some things you’ve learned over the years. I want to make sure the audience knows that. You’re the President and CEO of Praxis Capital Inc. Obviously, that acquiring that much in real estate, you have tons of experience and I love having you on and the audience always learns a lot from you. Thanks for being on the show again, Brian. I want to tell you he will cross over $500 billion in real estate that you’ve acquired. You’re going to remember his name and he was on episode WS23 and on WS247, which I highly encourage you to go back and read. Our guest has been on a couple other times. Text LEARN to 474747 to begin your journey to starting your own syndication business! He is now personally coaching others to do the same. Vinney came to the US with only $7 in his pocket, and now controls hundreds of millions of dollars of real estate he has acquired through multifamily syndication. He also tackles bad debt and loss to lease, and introduces an underwriting tool called Real Data.Īre you wanting to learn how to gain financial freedom through having your own syndication business? Text LEARN to 474747 to begin to learn from one of the best in the industry, Vinney Chopra. Breaking down the numbers, Brian shows how he calculates the rent charges and other overlooked expenses other than taxes that people often miss. As he dives into some of the things he has learned over the years about underwriting, he also shares some of the problems he encountered and how he kept them from happening again. Brian joins us to guide us through the steps of doing it right, sharing the three important things in the process. Brian Burke, the President and CEO of Praxis Capital Inc., says that is not how it works.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |