Pinned
May 25 •
👉 START HERE: Poll & Welcome to Our Community! 🎉
Welcome to the #1 Community for aspiring multifamily investors! 👋 This is where aspiring multifamily investors come to buy their first small multifamily deal (2-20 units). Remote. Without having to quit your job. Without risking everything you've saved. Here's exactly what to do in your first 48 hours. 🎯 STEP 1: Introduce yourself. Head to the Introductions category and create a new post. Tell us: - Where you live - Why you want to invest in small multifamily - Ask a question you (or someone like you) would like answered 🎯 STEP 2: Start the 5 Days to Your First Offer challenge in the Classroom. This is the fastest way to go from researching to actually moving. Five videos, one per day. Day 1 you pick your market. Day 2 you build your team. Day 3 you make your first agent calls, and I give you the exact words. Day 4 you learn to run a deal's numbers in about a minute. Day 5 you write your first offer. Every day ends with something to DO. Included. 🎯 STEP 3: Join us for our LIVE weekly training. Thursday at 2:00 PM Eastern. Find it in the Calendar tab. 20 minutes of small multifamily teaching plus live Q&A. 🎯 STEP 4: Check out the tools in the Resources course. Due diligence checklist, team hiring checklist, market shortlist template, broker outreach script, pipeline tracker, criteria checklist, and the rest. Everything we use when we put a deal together. Free in the Classroom. 🎯 STEP 5: When you're ready to get serious and get accelerate, it's time to move to the Inner Circle. For members done researching and ready to close: The complete First Deal Roadmap Course, weekly office hours, monthly trainings, and a VIP ticket to the next Multifamily Deal Ready Intensive included ($197 value). $97/mo (50% off for the first 100 members). Cancel anytime, no contract. --- A few community guidelines. - This is a no-fluff community. Specific over vague. Real numbers over hot takes. - Ask questions. Share wins. Share losses. Help each other. - No guru bashing in posts (we have better things to do). No pitching other programs. No "DM me for opportunities."
Poll
12 members have voted
6d •
On a duplex or fourplex, your value comes from comps. What sold next door sets your number.
Cross into 5+ units and that rule disappears. Value comes from income instead, specifically net operating income (revenues minus expenses). Push rent up by $50 a door across the building and the property's value can jump by tens of thousands of dollars. No new comps needed. Just the higher income. It's a different math than most first-time investors ever learn. Where are you right now? A) Own a property with room to push rent B) Still analyzing deals and factoring this in C) Hadn't thought about this until now Drop your letter and what size deal you're looking to do.
9d •
Broker
Had a broker ask me for my calculator after he sent over 3 properties and I let him know I ran the numbers but they are not making good financial sense.
2d •
The replay from Monday's Inner Circle Office Hours with Coach Joe is up in the classroom.
This one leaned heavy on the practical side, vetting the people you work with, verifying the numbers you are handed, and knowing where to spend on a renovation and where to stop. Here's what was covered Vetting operators before you put capital in Confidence is not competence. Analyze a JV deal as if you had found it yourself, compare your numbers to theirs, and ask about every gap before you commit. Your ownership is proportional to what you put in, so the size of the raise should not scare you off. Why the market survey pays for itself Knowing cost per unit for every line item is what lets you analyze fast and challenge a broker's numbers with confidence. Reading the T12 and letting it generate questions A materials to labor split that does not add up is not automatically a red flag. It is a question. Ask what the jobs actually were. Managing the management Check every invoice. Costs a tenant caused belong to the tenant, and the guardrails have to come from you. Rent accuracy makes or breaks a deal Back every rent number with Zillow, Redfin, and other secondary sources, and cross check the comps your property manager sends you. Uneven unit mix and odd layouts A one bedroom next to a three bedroom is fine as long as there is demand for one bedrooms in that area and the layout is not awkward. Adjust the rent to reality and run your analysis off the adjusted number. Building your team before you need them Set expectations with contractors and property managers up front, so that when an offer is accepted and the due diligence clock starts, you get pricing back in days. Collected rent versus scheduled rent Always use a collected rent property manager. They only get paid when rent comes in, so they vet tenants and quote rents honestly. Finishes, spending, and color Match the comps and let your property manager tell you where more spending stops returning in rent. Overspending is the biggest mistake new investors make. Neutral earth tones, uniform throughout, so nobody has to re-decide every time they turn a corner.
9d •
7 day challenge update
Hello everyone, just wanted to give an update on my progress. I finally connected with one of the property managers after a lot of phone tag! Got some preliminary info over the phone and she is going to send me a copy of their agreement, fee schedule etc and get me market rents for the property I’m interested in. How is everyone else doing?
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skool.com/the-first-deal-society
The go-to Skool Community for investors wanting to buy their first 2-20 unit multifamily property.
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