Listen up. By sharing all my mistakes, success, and failures, there are enough clues to pick up on that provide a clear path for you.

There are three things that you should pay attention to when it comes to deals in a competitive market. You need to have a performance clause in your contracts, make sure management company codes your Capex correctly, and be conservative with underwriting.

Topics on Today’s Episode:

● Intense Competition: Multifamily market is filled with people trying to find apartment deals and making stupid offers/money
● Performance Clause: Avoid feeling frustrated when the contract goes bad by including clause to cancel the contract or get your money back
● Seller’s Coma: People put stuff under contract and ownership group or management company check out
● Power of No: Believe in yourself, your offers, and what you’re doing; don’t be afraid to walk away
● Capex: Buy things in bulk and make them part of your improvement plan; code correctly for a refi and capital improvements—things that make the property better
● Good, Clean Business: Expect what we expect, inspect what we expect
● Slow Down Speedy: Underwriting shouldn’t hurt; be patient and conservative
● Mentors and Masterminds: Give you direction, guidance, and vision

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