IIRF Online > Business > Real Estate > Real Estate Investing > The Complete Guide To Multifamily Real Estate Investing
The Complete Guide To Multifamily Real Estate Investing by Udemy
The Step-By-Step Guide To Analyzing and Acquiring Multifamily Properties
Course Highlights
- How to confidently analyze multifamily real estate investment opportunities using professional underwriting and analysis techniques
- How to use an institutional-quality pro forma acquisition model to analyze and value potential multifamily investment opportunities
- How to identify risks and opportunities for value creation on multifamily deals
- How to use debt and equity financing to capitalize a multifamily acquisition or development project
Skills you will learn!
Curriculum
5 Topics
What We Will Cover
Who This Course Is For
About The Instructor & Student Successes
Download Me First
Disclaimer
10 Topics
Multifamily Property Overview
The 3 Main Types of Multifamily Properties
Property Class
Student Housing
Senior Housing
Affordable Housing & LIHTC
Multifamily Value Drivers
Multifamily Risks
Rent vs. Buy Analysis Exercise
Multifamily Opportunities
5 Topics
Gross Potential Rent & Vacancy Loss
Loss-To-Lease & Concessions
Bad Debt
Multifamily Revenue Excel Exercise
Variable & Scheduled Ancillary Income
7 Topics
Property Taxes
Insurance
Repairs & Maintenance
Personnel Costs
G&A & Marketing Costs
Property Management Fees
Capital Expense Reserves
2 Topics
Common Area Renovations
Interior Renovations
9 Topics
Sourcing The Loan
Loan Terms
Amortization vs. Term
Interest-Only Periods
Future Funding
Prepayment Penalties
Loan Sizing
Loan Sizing Excel Exercise
Loan Covenants
3 Topics
The Offering Memorandum (OM)
The Rent Roll & T-12
Commercial Leases
6 Topics
The Pro Forma Model
Data Inputs
Modeling Assumptions
Revenue & Expense Assumptions
Capital & Debt Assumptions
Sale Assumptions
8 Topics
The Capitalization (Cap) Rate
The Internal Rate of Return (IRR)
The Equity Multiple
The Cash-on-Cash Return
Multifamily Valuation
What Are "Good" Returns?
Capital Risk Buckets
Capital Risk Bucket Examples
5 Topics
Understanding Markets
The Competitive Set
The Unit Mix
Other Income Drivers
Return on Cost
4 Topics
JV Partnership Structures
Multifamily Fee Structures
Equity Waterfall Structures
Fee & Waterfall Structures Excel Exercise
5 Topics
The Summary Tab
The Revenue Tab
The Expenses Tab
The Monthly CF Annual CF & Debt Tabs
The Construction Budget Waterfall & Checks Tabs
8 Topics
Multifamily Acquisition Case Study Introduction
Case Study Data Walkthrough
Rent Roll & T-12 Walkthrough
Building Out The Summary Tab
Building Out The Revenue Tab
Building Out The Expenses Tab
Building Out The Construction Budget & Equity Waterfall Tabs
Target Return Metric Valuation
3 Topics
The LOI & PSA
Key Due Diligence Items
Closing & Post-Close
1 Topic
Key Takeaways & Where To Go From Here
1 Topic
Bonus Lecture - The Next Step
The Complete Guide To Multifamily Real Estate Investing
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