Published: May 14, 2020, 10 a.m.
David's Background:
- Co founder of Obsidian Capital out of Austin, Texas.\xa0
- Started investing at 19 years old when he bought a 12 unit apartment complex.\xa0
- He has a background in corporate auditing, an investment banking, and today he has owned or sponsored over $50 million worth of real estate.
- Starting a RE tech company, Real Estate Labs, which Is a data driven underwriting model to shorten the time needed to underwrite real estate deals
In this episode we cover:
- 00:02:02 David's experience in underwriting and his spark to create a living underwriting model vs a static excel based model
- 00:05:57 What takes the most time in the underwriting process
- 00:14:20 Fundamentals to look for when underwriting a deal
- 00:16:19 When you should involve a professional opinion for due diligences and renovation expenses
- 00:17:47 Looking at comps and determining the finish of your upgrade
- 00:19:54 Rule of thumb on renovation ROI
- 00:20:35 David's take on pushing market rents and how you can protect yourself if you attempt it
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*****Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.