Getting Started in Multifamily – Part 1

Have you ever thought about getting into the multifamily business? It’s not easy and it’s not for everyone, but if you have what it takes I can show you how! I created Real Estate Raw to pull back the curtain on the commercial multifamily business. I have survived the down turn of the economy and quite frankly I don’t want to go through that again. Do you?!

How many real estate seminars have you sat through to only find that it was one big SALES PITCH! Starting a business armed only with sales pitches is never a good thing. In this 5 part series I will be teaching you the “real side” of the real estate business.

Notice I keep saying real estate “business”? That is one of the first lessons that most people get wrong when starting out in real estate. Let me clarify this for you.

An investor is someone who is sitting around with cash that they need to get a return on. If you have all the cash you need to buy real estate with…then you are an investor. If you are trying to create wealth in real estate (not spend it) then you will need to raise money and possibly qualify for some loans…you are not an investor, you are a real estate entrepreneur.

I make this distinction because most people get started in the real estate business with the wrong mindset and that leads to early frustration. If you are not already wealthy and looking to put cash into a property for a return, then as an entrepreneur you will be building a real estate business.

Now that we have that clear, you need to be prepared for all that being an entrepreneur includes. This will mean hard work, work that you won’t always get paid for.  You will need to create about 10-15 hours a week to begin with. Keep in mind that the majority of this time will need to be between 9am-5pm Monday through Friday. This is when all the agents, brokers and most sellers are available and you will need to be too.

I understand that this may seem like a lot of time to someone who has a family and a job and you may not have a ton of time during the work week to dedicate to your new business. Find it! The one thing I tell my students is “the closing table doesn’t care…you get there or you don’t”. The world is full of people who wanted to be successful… but just couldn’t make it. That is real estate and this is Real Estate Raw! 

The one thing I promise you is the truth and that I will keep it REAL!

In the next 4 sections I will be teaching you what to fill those 15 hours a week with such as how to get deals funded with creative financing, making creative offers and creating wealth by solving real estate problems.