Asset Management Roles in Multifamily Investing

What is an Asset Manager?

In short, the Asset Manager (AM) is the manager of the Property Manager (PM). From the time the listing is received--to the time the property is sold--, the AM is your boots-on-the-ground for understanding the investment property performance. The AM should live within driving distance of the property. While every deal is different, the AM will most likely be a General Partner in the deal. Including the AM as an equity partner gives them skin-in-the-game and naturally incentivizes them to execute the business plan as efficiently as possible. 

Why is the Asset Manager Role Important?

As the primary point of contact for understanding day to day operations, the AM fuels the communication battle rhythm by providing regular updates to the General Partners. Updates include income, expenses, renovation status, and unexpected events. This information is translated into your income statement and compared to...

Where & How to Get a VA Loan

As a servicemember or veteran, it’s important to have a lender that is an expert in the VA Loan process. The VA Loan process is different than a conventional loan and has different requirements—which is why the VA requires certification of lenders for them to be able to offer VA Loan services. Lucky for you, ADPI’s in-house lending team AmNet excels in offering VA Lending Services to our amazing service members, veterans, and their families!

How to get a VA Loan

Preapproval

To start the VA Loan process, you’ll need to obtain a preapproval. A preapproval is a letter given by the lender stating that you (as a buyer) qualify for the property that you’re trying to purchase This letter gives you a great advantage when making an offer on a home –as it helps show your commitment and purchasing power. Preapproval can also help you when searching for a home. Many real estate agents require a lender preapproval before...

Mythbusting: Investing in Mobile Home Parks

Common Mobile Home Park Misconceptions

One misconception about Mobile Home Park ownership is that Mobile Home residents frequently move compared to a traditional multi-family property or a single-family residence.

This misconception came about because of the term "Mobile Home."

However, these properties should be understood as "Manufactured Homes."

What other images come to mind when you think of the phrases "trailer park" or "mobile home park?"

Another massive misconception people have on this highly productive market is the generalization and stigma our society has (and most likely what your initial thoughts were) when they think about the tenant-type or demographic who would occupy these units.

"Low-income," "dirty," "drugs," "loud," disrespectful," "alcoholic’s," "redneck’s…" are just a few that come to mind.

Our team has found that most of that is simply...

The BEST Ways to Get Started in REI

"I've got it. I understand the wealth-building principles of investing in real estate.

I understand the WHY… now I need to know the WHAT… then I can determine the HOW!

I am ready to get started" 

If you find yourself thinking this - I invite you to continue reading, this article is for you. 

The Two Best Strategies to Get Started

Overall, real estate investing (REI) is one of the simplest and easiest forms of investment to conceptually understand. It doesn't come without it's growing pains, though. Understanding the nuances of underwriting, contracting, negotiating, residential or commercial lending, asset protection, estimating renovations, property management, managing renovations, etc. is difficult without prior experience, and seemingly worthless unless you intend on investing a SIGNIFICANT amount of time learning this trade. Even at its highest levels, where REI is...

Tax Tips With Brandyn Cox EA

The secret to any business—real estate investments are no exception—is buying low and selling high. That’s basically what wholesaling is. But as we’ll see, wholesale real estate investors never really buy or sell a property. They essentially sell the privilege of buying property.

How to Wholesale Real Estate

1. Develop a network of real estate investors and professionals
2. Research numbers for the neighborhood and market
3. Create a contract and a system
4. Purchase properties
5. Contact potential buyers

In retail, a wholesaler is someone who buys a large quantity of goods for a lower price per item, and then sells off each unit to retailers for a higher price. That might make you think that wholesale real estate investing involves buying a large number of homes from a developer to sell off one by one, but while that strategy exists, it’s not real estate wholesaling.

What is Wholesale Real Estate?

Real estate wholesaling essentially involves finding someone who...

VA Loan Eligibility

If you’re considering using your VA Loan for a home purchase, you may be wondering if you are eligible. The Department of VA has specific eligibility rules for servicemembers and veterans to be able to use this awesome benefit. Before you start the VA Loan process, it’s important to know the eligibility requirements.

VA Eligibility Requirements:

You or your spouse must meet one or more of the following requirements to be eligible for a VA Loan:

* Have served 90 consecutive days during wartime

* Have served 181 days of active service during peacetime

* You are the spouse of a service member that died in the line of duty or as a result of a service-related disability.

According to the Veterans Affairs website--to receive a COE as a National Guard or Reserve member, you should meet the following conditions:

• Have served 6 creditable years in the Selected Reserve or National Guard (must have been honorably...

Networking

Real estate is a team sport. From buying and selling to replacing water heaters and HVAC systems, it is unrealistic to think one person will master every aspect of real estate ownership, maintenance, and investing. That is why you need to NETWORK.

My simple definition of networking is meeting people. One introduction leads to the next, which leads to yet another, and so on. In theory, networking sounds so easy! Why is it that so many of us struggle to step out of our comfort zone and introduce ourselves to more people? For many, it’s an irrational fear of rejection.

Your fear of heights, snakes, or tight spaces can be rational. These are fears developed to improve your chances of survival. Your fear of rejection from a stranger is irrational. If you introduce yourself to this person and the interaction goes poorly, what have you lost? Nothing. You have neither gained nor lost a person in your circle of influence. We have nothing to lose by talking to new people!...

Using VA Loans for Investment Properties

The VA Loan is an incredible benefit for veterans and service members. With no down payment and low-interest rates, it presents a unique opportunity. One of the common questions that we get at ADPI is whether or not you can use the VA Loan to purchase an investment property. The answer – if you’re looking to buy a property just to rent out – is “no”. Using a VA Loan requires that the borrower intends to occupy the residence as a primary home. But, there are other possible ways to use the VA Loan to purchase a cash-flowing investment property.

Using the VA Loan for Multi-Unit Properties

Although the VA Loan can’t be used immediately as a rental property or a fix-and-flip, it can still be an investment. Not to mention that you could live for free. To clarify, the VA allows VA loans as an option to purchase residences that have up to 4 units. The key here is that you must occupy one of the units and rent out...