How To Create A Successful Financing Credibility Book

Step-By-Step, Building Your Credibility Book alongside our template. Preview 20:00

This lesson will walk you through the blank credibility template and offer suggestions on how to create your own credibility book. Each student's individual experiences and background must be taken into consideration during the creation phase. The intention is for the book to grow as your real estate career progresses. Each new property should be added to the book along with new professional accomplishments. We view this as "living document." The more robust and detailed the book becomes the more professional the student will appear when presenting the book to real estate professionals.

How to build a multifamily investing case study Preview 08:53

In our first case study, we dive into the first property we purchased, a 25 unit weekly rental that really fit our niche, mom and pop apartments. For those of you who do not know what a mom and pop apartment is, we coined the term to refer to any property that is being run by burned out landlords who have no systems in place to operate the property. The property contains deferred maintenance, lower than average rental rates, and owners who are motivated to sell. You get the idea of a mom and pop, and Courtyard fit this description to a T. It was love at first sight, and we learned many valuable lessons running this property that we will share with you in this lesson.

Case study #1, Courtyard Preview 14:07

In our first case study, we dive into the first property we purchased, a 25 unit weekly rental that really fit our niche, mom and pop apartments. For those of you who do not know what a mom and pop apartment is, we coined the term to refer to any property that is being run by burned out landlords who have no systems in place to operate the property. The property contains deferred maintenance, lower than average rental rates, and owners who are motivated to sell. You get the idea of a mom and pop, and Courtyard fit this description to a T. It was love at first sight, and we learned many valuable lessons running this property that we will share with you in this video.

Case Study #2, Hickory Hills Preview 09:34

Listen to the pros and cons about our second case study, a 36 unit 1 bedroom apartment complex. This is another classic “mom and pop” apartment property being run by a disgruntled owner. As you can see, we are attracted by these properties and it is at this point we begin to use the name “mom and pop.” In this case study, we highlight the deficiencies with Hickory and dive into our repositioning strategy to guide it back to its former glory. We also share with you how we added tremendous value and were able to refinance this property.

Case Study #3, Park Place Preview 17:10

In this life changing deal, we break down the purchase and repositioning of our largest acquisition, a 136 unit multifamily property. Several traits made this property desirable; high vacancy in a low vacancy market, below market rents, poor management and the ability to increase revenues dramatically. When we purchased Park Place, the revenue was $53,000 per month. One year later, the revenue catapulted to $83,000 per month. We outline the process we used to achieve these tremendous gains, as well as the refinancing strategy that led to a $1.6 million payout!

Case Study #4, Jefferson City Preview 10:43

This is a unique case study due to the size of the deal, $11,000,000 and the fact that it was owner financed. We put no money down on this deal. For all the skeptics out there that say you can’t do that, watch and see how it was accomplished. The credibility book was a huge reason why the banks were willing to lend on this deal and partner with us. They saw our business plan and strategy and how this property fit perfectly into our plan. Your credibility book will do the same for you. We will discuss current as well as future value plays associated with our Jefferson City portfolio.