How to Frame a Picture Like a Pro

Pat McNulty is a landscape and wildlife photographer. He has extensive experience integrating framed images into home décor and shares some of the hard-won lessons he’s learned along the way. 

4 Ways To Structure Your Multifamily Deal With The Seller

Another thing you need to keep in mind along with the four ways to structure your multifamily apartment deal with a seller is that there are two types of sellers. You have previous sellers that you can work with as well as sellers from marketing.

By Lance Edwards

Testing Your Fair Housing Knowledge.: An article from: Units 

Investing: 5 Lead Generation Resources For Finding Motivated Sellers

Lead Generation is at the heart and soul of any business and it is no different with multifamily apartment investing. Are you at a loss as to how to track down sellers of multifamily properties? There are five solid resources for finding motivated sellers. These five sources are direct mail, brokers, www.loopnet.com, bird dogs and other venues.

By Lance Edwards

10 Creative Applications For Getting Your Mutifamily Investing Deals Done

When you are trying to figure out how to get your multifamily apartment investing deals done, there are techniques that you can use to do so. Any one of these techniques can be used individually or in a combination. They can be applied by rehabbers, wholesalers or buy and hold entrepreneurs.

By Lance Edwards

401K, HELOC And Other Options You Can Use To Fund Your Apartment Investing Deal

Are you still looking for inventive ways to get your multifamily apartment property deal done? The venues that you can utilize to get your investing deal done are numerous. Below are ten more possibilities for you to consider.

By Lance Edwards

4 Areas Of Asset Management Of A Multifamily Property

The ability to improve your multifamily apartment property boils down to you being a good asset manager. The purpose of asset management is to increase equity by raising NOI to cap out the property. Asset management boils down to four areas: property management, repositioning, adding income sources and reducing expenses.

By Lance Edwards

Additional Sources Of Revenue For Investing In Your Multifamily Property

The great thing about multifamily apartment properties is that there are several ways to increase revenues available to you. You are not limited to the rent that you charge per unit. There are some relatively standard things you can add to create additional income streams as well as some rather ingenious items. Below is a list of possibilities for your consideration.

By Lance Edwards

 Investing in Kentucky's future: An examination of coal resources and revenues for Letcher County, Ky

3 Ways To Reposition Your Multifamily Property

Are you trying to figure out a way to raise the rent on your multifamily apartment property? You can raise rents through a process called repositioning. Whenever you buy a property and make improvements or repairs or convert a property from a Class D to a Class C or a Class C to a Class B, you are repositioning. There are three ways you can reposition your multifamily apartment property.

By Lance Edwards

Are you trying to figure out a way to raise the rent on your multifamily apartment property?  You can raise rents through a process called repositioning.  Whenever you buy a property and make improvements or repairs or convert a property from a Class D to a Class C or a Class C to a Class B, you are repositioning.  There are three ways you can reposition your multifamily apartment property.

1.  Cosmetic:  You are likely to hear some vernacular in the industry like “putting lipstick on a pig”.  This refers to things like painting or landscaping and anything else that is non-structural in nature.

2.  Complete Rehab and facelift:  This option is more involved.  You can put in all new appliances and new carpet on the vacant units and completely rehab it so some of the stuff looks new.  The rehab does not necessarily change the class that the property is in.  For instance, if you have a Class C multifamily apartment property that was built in the 60’s, it will still be a Class C after you rehab it.

3.  Put new management in place:  If you buy a distressed property that has a 70% occupancy rate and has an existing manger, the first thing you want to do is fire the manager because he probably has bad habits.  If you are serious about what you are doing, you want to put new guidelines in place.  Clean house and replace the apartment property manager because that is the first step to raising rents and increasing the occupancy.

There might be a contract in place with the apartment property manager but most have a 30- or 60- day out clause for both parties so you would have to give notice.  Management contracts are usually pretty flexible.
The first thing you want to do when repositioning is to remove the bad tenants because they are dragging down your property.  Other tenants in the complex know who the bad tenants are.  You want to get rid of the bad tenants so you can create a family-friendly environment.  You want your tenants to feel safe and secure.
Even if the bad tenant is paying his rent on time, you still want to remove him because he is bringing down the rest of the apartment property.

Repositioning offers you a way to raise the rent on your multifamily apartment property.  You can either go “all out” and completely rehab the property or go with the less intensive changes of cosmetic improvements or management restructuring.  Be sure to carefully evaluate which option is best suited for your investing needs.

Think you need big cash and experience to do apartments? Well, Lance Edwards is living proof that you can start with multifamily investing - just like he did and using none of his own money. Utilizing the multifamily apartment strategies he now teaches and writes about, Lance retired from his job in July, 2005. For more information on how you can achieve financial freedom using other people's money, visit http://www.ApartmentWealthMachine.com

 

Find free, high quality articles you can republish from www.copypastearticles.com

Top Ten Reasons Why You Should Buy Multifamily Properties

When you sit down and examine the advantage of owning multifamily properties, you will be amazed at the multitude of benefits. While other avenues of income generation offer some attractive incentives, owning multifamily properties brings many great things to the table. Let us explore these advantages:

By Lance Edwards

Buying Multifamily Apartment Properties And Overcoming Your Fears

It is our job as entrepreneurs who are raising private money to learn how to direct energy, other people's energy, into vehicles that produce more income for us and for them. It is all about managing the energy. You have a choice when it comes to raising private money for real estate investing: you can put your energy and time into a deal or you can put in your money into a deal.

By Lance Edwards

Overcoming drug problems in multifamily housing.: An article from: Journal of Property Management