Find out exactly where your first multifamily deal is stalling
You've done the reading, and maybe you already own a rental. This free workbook gives you one page for every step to close your first multifamily deal (2 to 20 units), so you can see what you already know and what's still holding you up.
24 pages, one per step. Print it and check Yes or Not Yet.
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Rachel S. lived in San Diego, so investing locally was never realistic. She had more saved, but the amount she was comfortable putting into a first deal was about $40,000. She bought a value-add duplex remotely, refinanced, pulled her capital back out and later did a 24-unit joint venture.
Results aren't typical. They depend on individual effort, timing and market conditions.
What’s inside
- Decide what the deal is for (page 3). One reason, one person, and the monthly bill this property is meant to replace. Then stabilized or value-add on page 4.
- Pick a market you'll never have to live in (pages 5 and 6). Two public signals, population and jobs, narrow any list to three finalists at most (especially if you live somewhere expensive).
- Build your team before your first offer (pages 7 to 10). Who you need on your team, what to ask each one, and how to sound like the buyer realtors call first. For commercial multifamily (5+ units), a commercial broker and lender join.
- Screen a deal with three numbers (pages 11 to 16). NOI, cash flow and DSCR, the rent you can count on, your maximum allowable offer, and a stress test before you fall for a property.
- Make an offer that protects you (pages 17 to 19). A purchase and sale agreement for residential multifamily (2-4 units), usually a non-binding letter of intent for commercial multifamily (5+ units), then due diligence: financial first, physical second.
- Fund it, close it and manage the deal remotely (pages 20 to 22). Two buckets fund every deal, and you don't have to fill both yourself.
- See what comes after your first deal (page 23), from 2-4 units to 5-20 unit multifamily buildings and beyond.
- Count your "Not Yets" (page 24). 83 boxes. Every "Not Yet" is a skill you can learn, and now you'll know which ones.
Built by Jen & Stacy Conkey from 2,500+ doors across 7 states. Most of them they've never set foot in.
Remote Multifamily Investing Academy (RMFIA) helps W-2 professionals and small business owners close their first multifamily deal remotely, without quitting their job. Privacy Policy | Terms | Contact: [email protected]
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Results aren’t typical. They depend on individual effort, timing and market conditions. Examples are shared for education, not as a promise of income or a guarantee of any result.
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