10 Questions To Aks Before Buying Multifamily Properties | How To With Jake and Gino

Jake & Gino: Real Estate Investing & Multifamily

Jake & Gino

Smartinvesting, Buyingrealestate, Investing, Multifamilyrealestateinvesting, Business, Investingsmart, Apartmentinvesting, Management, Makingmoney, Realestateinvesting, Cashflow, Jakeandgino, Realestateinvestment, Commercialrealestateinvesting, Buyingapartmentbuildings, Entrepreneurship

4.9 • 842 Ratings

🗓️ 14 August 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you considering diving into the multifamily real estate market? Whether you're a seasoned investor or just getting started, this episode of our podcast "10 Questions To Ask Before Buying Multifamily" is packed with essential insights to guide your investment journey. From understanding the local market and median income to recognizing the importance of flood zones, we cover it all. In this episode, we not only discuss how to research a property's history but also explain the significance of tenant profiles, property management, and the different types of rental models like section 8 housing and market-based rentals. We even touch on our preferences and experiences, providing practical advice for those targeting specific income levels and areas. Join us at Multifamily Mastery 6 (MM6) on October 14th and 15th, where we'll delve even deeper into the 'buy right, finance right, manage right' approach, featuring special guests like Chris Voss, Brad Lee, Chadd Wright, and Phil McKernan. Learn how to create empowering relationships and gain autonomy over your financial future. Real guys doing real deals! Don't miss this chance to refine your investment strategy and equip yourself with the knowledge and tools necessary for success in the multifamily market. Click the link below to listen now, and don't forget to subscribe for more expert advice! Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/

Transcript

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0:00.0	Hello and welcome. My name is Gino Barbara, one of the co-founders of Jake and Gino. And in this how-to podcast, I'm going to be diving into the top 10 questions that you need to ask before you're buying that next multifamily. Let's just jump right in because this is such an important topic. We're talking about due diligence. And as Tony Robbins says, the better the questions that you ask, the better the answers you're going to get.
0:24.2	And it's very challenging when you're starting off as a beginning investor.
0:27.4	I was there.
0:28.3	You always have these preconceived notions going into a deal and thinking that the seller wants the highest price.
0:33.7	The seller wants this.
0:35.0	You honestly don't know until you start asking these questions.
0:39.1	And when I think about questions, you want to really ask what we call empowering questions.
0:44.9	An empowering question is an open-ended, thought-provoking question.
0:50.2	What?
0:51.7	How?
0:52.7	These are questions that elicit a response that isn't just a yes or no answer.
0:58.3	Because if you're getting yes or no, they're really short, you're not getting a lot of information.
1:01.9	So on the Jake and Gino website, I have a blog empowering questions. Read it because it's really,
1:07.5	really important. But in this one, let's talk about specifically multifamily questions. Now, the student community has closed over 70,000 units. They've done
1:15.1	over $5 billion in transactions. They've raised over $400 million. So these questions have
1:19.8	helped them close more deals. And more importantly, move on to the next one. Remember, we don't
1:24.6	lack motivation. We lack clarity or focus. Once you have that
1:28.3	clarity and the focus, you're able to look at more deals. That's the real challenge. Trying to
1:32.2	look as many deals as possible until you find that one that you want to close on. Number one,
1:36.7	very important. Why are you selling Mr. or Mrs. Seller? Why is it that you're selling?
1:42.0	There's a variety of reasons. Understand what their
1:45.3	motivation is. Because in real estate, if there's no motivation on the seller's part, guess what?
	...

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