April AMA (Ask Me Anything) Talking Multifamily with Agent + Investor Josue Velney Recording

We had a great conversation with Agent + Investor Investor @winterhillhomes talking about how he got started in doing multifamily development deals and more!

Here’s the recording:

Timestamps

• 0:00 Intro
• 2:01 How did you get started in multifamily investing?
• 3:05 What does being real estate developer involve and look like?
• 6:07 Should I invest in single family 1st before investing in multifamily?
• 7:02 Is it hard to get a loan to invest in multifamily?
• 8:18 How much money will I need to get started investing in multifamily?
• 11:08 What are the top 3 things you wished you knew before investing in multifamily?
• 16:26 Which metrics do you primarily focus on in multifamily when analyzing a deal? Cap Rate, Cash on cash, IRR, Something else?
• 13:38 Do you bring partners into your deals? If so, how do you typically structure those partnerships?
• 22:42 What is the biggest challenge with financing terms on multifamilies?
• 25:30 What’s your best advice for working with tenants?
• 27:08 Do you take care of the properties yourself or do you have a property management company?
• 27:49 If you do the work yourself, what’s your best advice for creating systems to do this?
• 29:31 How do you raise money for your projects? Especially when you were just starting out?
• 31:34 Did you have a mentor when you started? If yes, what’s the best advice they gave you? Success brings many fathers.
• 39:10 In the CarrotCast you did with Trevor, you mention that you learned how to be a creative finance investor. Can you tell us a bit about what that means and how that helped you?

Resources

• What is IRR?
  https://www.investopedia.com/terms/i/irr.asp
   
• What is Cap Rate?
  https://www.investopedia.com/terms/c/capitalizationrate.asp
   
• Josue Velney on the CarrotCast
• EP 278: 4 Ways Chasing Pirates as a Marine Helped Josue Velney Become a Confident Real Estate Investor:
  https://carrot.com/blog/chasing-pirates-josue-velney-real-estate-investor/
   
• John Martinez on the CarrotCast
• EP 150: Don’t Blow It! The Psychology of Negotiation: How To Talk With A House Seller to Close More Deals + Help More People w/ John Martinez:
  https://carrot.com/blog/negotiation-psychology/
   
• EP 178: Become a Negotiation Master | Top Techniques for Closing the Deal w/ John Martinez of REI Sales Academy:
  https://carrot.com/blog/become-a-negotiation-master-john-martinez-rei-sales-academy/
   
• EP 267: Negotiation Mastery #1: How to Deliver a No-brainer Offer & Close More Sales, Faster w/ John Martinez:
  https://carrot.com/blog/john-martinez-sales-negotiation/