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  Key Learnings Trying to Buy a Housing Authority Property Property While trying to acquire a multifamily Housing Authority owned property, I became quickly aware the approach is different when dealing with a government entity versus experienced private or institutional sellers. These are my key findings: Hard Money isn't necessarily needed The motivation behind the Housing Authority is to get top dollar Amenities are very light and must be added to be competitive with surrounding properties While maintained well, interior renovations are a decade or more behind the times Little deferred maintenance because they have a mandate to keep a clean and safe property Any acquisition will take longer to stabilize and re-position to attract the right market rate paying tenants While tougher than a normal multifamily acquisition and re-positioning,…

[caption id="attachment_3389" align="aligncenter" width="296"] Networking begins with a simple Hello[/caption] Recently I met up with an investor I met a few months prior at a conference.  He was visiting his family and decided to call me.    We met for brunch and for the next 90 minutes I learned about his family history, how & why he immigrated to the US, the various careers and jobs he's held in life, his future plans, and his business ventures.  In his career path and despite our age difference I was surprised we shared some common business experiences outside of real estate. This came out of a simple "Hello" in the lobby of the hotel where the conference was held. A couple years earlier, I met a person at a multifamily meetup and…

About nine months ago I decided to have an informal real estate knowledge sharing presentation with a bunch of my immediate and extended family.  It was an informal potluck dinner at my sisters house and the family that came were mostly the young professional members of the family with a few older members as well.  All I wanted to do was share some multifamily real estate knowledge so they can be aware and maybe look into it further.  It was a pretty good night with a lot of questions and the usual family joking around. As a result, these family members now view me as a thought leader on real estate.  Now, I am far from a guru and am still trying to become successful in real estate.  And from…