Rob’s Words Of Wisdom

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12
Sep, 2024

Choosing The Ultimate Multifamily Property Investment Team

Nobody can be successful on their own in the real estate business. That is why you must choose your Multifamily Property Investment Team wisely! Watch and read on as Rob Rowsell outlines the key players you need on your side when you invest in a multifamily property.

Multifamily Property Investment Team discussing real estate deal

Multifamily Property Investment Team discussing real estate deal

Multifamily Property Investment Team – Who Should You Choose To Be In Your Corner?

They say that “no man is an island”. That phrase definitely applies in the real estate investment industry. If you’re going to wade through the mountains of paperwork and make wise decisions about your potential rental property deals, you will need a multifamily property investment team made up of two super powered units, the Core Power Team and your Vendor Power Team.

Rob explains your Core Power Team as your “inner circle”. This team consists of your General Partners, Sponsors, and a Mentor. These teammates will guide you and do most of the heavy lifting. Just make sure that you have a “push pull” buyout clause in your agreements, so everyone has an out if necessary. Sometimes business partners grow apart, or develop different needs. Get everything in writing, so it stays just business, and doesn’t get personal.

Your Vendor Power Team for your real estate deal consists of commercial real estate brokers, a property manager, attorneys, a mortgage broker, and general council. Finally, you need to recruit the right investors to be your Limited Partners. When you choose wisely and trust your partners, you will go far in the rental property investment game!

Join Our Community

Do you invest in multifamily properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

5
Sep, 2024

The Surprising Truth: Capital Extensions For Property Deals

Let’s say that you are in the process of putting together a real estate deal, but all of your funding has not come through yet? Can you get capital extensions in writing for your property investment deals? When sellers write Real Estate deals, contracts often allow for deadline extensions, so that buyers can round up more investors. Rob explained the process of asking for capital extensions to one of his callers on one of his monthly Inner Circle Group Zoom Call.

Capital Extension - Get more time to fund your real estate investmentHow To Write Capital Extensions In Your Real Estate Investment Deals

On the call, our friend David remarked at how amazing it was that Rob and Claudia could do their due diligence in such a short span of time. Closing real estate deals is a very complex process, after all. He asked Rob to walk through the process from fundraising to close. What happens if the buyer can’t raise enough funds in time? Do sellers typically accept capital extensions in buyer contracts, and how many are the standard number that buyers can receive?

Rob explained that he asks for up to two free 30-day extensions when he begins the real estate buying process. This is a bold ask, but if you don’t ask, you’ll never know! He rarely gets it, but sometimes he can negotiate one free 30 day extension and an additional 15-day reprieve if needed.

Often with capital extensions, a penalty fee will apply. If you pay that fee, though, you have enough invested that the seller knows you are serious. You will raise the funds and deliver them in a timely fashion. In the unlikely event the deal falls through, as a general partner, your investors are safe from losses.

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

29
Aug, 2024

Find Real Estate Brokers In The Garbage! (Online Deal Sites)

Any established investor knows that online deal sites like Crexi and Loopnet are the “garbage cans” of investments. What does that have to do with how we find real estate brokers? While many sellers put their deals on these sites as a last ditch effort, they can still serve as a great networking tool! How, though? Read on to find out.

Find Real Estate brokers for your Multifamily Rental Property Deals via Online NetworkingFind Real Estate Brokers By Networking Online

Rob’s methods, while totally legitimate, are not for timid introverts. Since you’re reading this, though, we’re taking a chance that you are no stranger to going out on a limb to find real estate brokers.

First, you should have some locations in mind that you want to buy property in. Look up brokers in those areas on Crexi, Loopnet, or another site such as Brevitas. Then do some digging on the agents’ LinkedIn profiles.

Many of these brokers would make great connections in your investing journey. Don’t be afraid to call them directly. You may not want their scraps, but let those real estate agents know that you still want to build a relationship with them. Tell them everything in your Buy Box; if they pick up a property that matches your criteria, you want first dibs.

How could a real estate broker say no? You are literally giving them permission to put you on their email list! Everybody wins with this networking strategy!

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

22
Aug, 2024

Shocking Surprise As Rob Arrives To A Rental Property Fire!

Multifamily real estate investors play many roles. One such role is that of an Asset Manager. Rob Rowsell presented a checklist for Asset Managers. Perhaps the most important task on the checklist was to “be prepared for anything”. Want an example of what could go wrong? How about a shocking rental property fire? How did Rob react, and what did his real estate team do when the incident occurred? Read on to find out!

Rental Property fire - Apartment damage by arsonRental Property Fire Story – Moving On From Arson Damage

Rob was 30,000 feet up, on his way to visit one of his prized rental properties. After a long flight, he stepped off of the plane and turned off Airplane mode on his phone. Instantly, it started blowing up with notifications from his staff! The property investment he was about to check in on had gone up in flames!

Mike Tyson once said that “Everybody’s got a plan until they get punched in the face!” At that moment, Rob was reeling from a left hook out of nowhere. One message from his Property Manager, included a photo of one of the units on fire, with a promise that they were on their way to the 105-plex.

Rob arrived to the firefighters spraying down the crumbling apartments. Soon, he learned that the fire was the result of an arson. The building was beyond repair. Since the slab was no longer up to code, crews had to replace it, too. Thankfully today, the 16 units are almost completely rebuilt. The arsonist is in jail, paying for their crime. This is a prime example that anything can happen in the wild world of real estate investing.

Join Our Community

Do you own multifamily rental properties? If not, do you aspire to do so one day? Then you need to join our online property investors group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

15
Aug, 2024

How Much Should Investors Pay For Property Inspection Cost?

 

Any multifamily real estate investor knows that hiring professional inspectors to walk their property is required before buying. But how much should a property inspection cost? Through decades of experience, Rob Rowsell has learned that the $100 per door cost that real estate investing school taught him is WAY high.

Rob uses a formula in his agreements in order to cover every cost that is involved. These expenses include inspecting building utilities, determining structural integrity, pest control sweeps, and more.

Property Inspection Cost - Rental Property Audit Expense GuidelineProperty Inspection Cost Guideline Explained By Successful Investor

When you are investing in real estate, you should always consider the property inspection cost. You get what you pay for, so you do not want to underestimate how much it will take. However, many investors tend to overpay, just because of the estimated figure they are used to.

One caller on our recent Inner Circle Meeting was interested in buying a 100-unit apartment complex. He asked Rob what he thought he should pay, per door, for the property inspection.

Off the top of his head, Rob suggested the caller should budget $50 per door. However, if an investor already had a good relationship with a property inspection company (and they should!), they could possibly reduce that property inspection cost to $25 per door. In his own experience, Rob’s expenses for property inspections have not exceeded that number in ages.

Join Our Community

Do you invest in multifamily rental properties? If not, do you want to do so one day? Then you should consider joining our online discussion group, the ATL Inner Circle Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It is not quite as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

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