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How can investors build strong relationships with brokers to gain access to off-market multifamily deals?\n\xa0\nKevin Romney shares his proven strategies for sourcing and acquiring off-market multifamily properties. Drawing on his experience in commercial real estate, he provides actionable tactics for establishing credibility with brokers, performing due diligence, and closing profitable deals.\n\xa0\nKevin Romney is the co-founder and managing director of Camino Verde Group. He is responsible for underwriting, acquisitions, financing, legal and corporate operations. He also provides financing support for development projects. Prior to creating the Camino Verde Group, Kevin founded The Romney Group in 1989 and remained president and CEO of the company until he left to create the Camino Verde Group in 2019. At the Romney Group, Kevin owned and developed commercial property and managed retail, office and medical projects. While at The Romney Group, Kevin was also CEO and president of Paramount MultiServices, in which he built a group of call centers serving several Fortune 500 companies. These call centers were located throughout Texas, New Mexico, and Nebraska.\n\xa0\n(00:03:00 - 00:06:00) Opening Segment\nTake good care of brokers by sending gifts and not asking for fee reductions\nRespond quickly to off-market deals brokers send you\nHave a policy of selling through the same broker you buy from\n\xa0\n(00:06:00 - 00:09:00) Evaluating Deals \nGet rent rolls and T12s if possible, otherwise use known data as a proxy\nReply within 72 hours with your level of interest\nBe prepared to walk away if due diligence uncovers major issues\n\xa0\n(00:09:00 - 00:12:00) Targeting Active Brokers \n90% of deals controlled by a handful of brokers is accurate\nFocus on brokers specializing in older, smaller multifamily properties\nEstablish yourself as a motivated buyer who can close deals\n\xa0\n(00:12:00 - 00:26:00) From LOI to Closing \nUse a template LOI with 5 day reply timeline\nGet an attorney to review PSA, aim to have signed within 7 days of LOI\nWhy you should act quickly to get property under contract before other offers come in\nMany "professional sellers" won't actually move forward\nWhy Kevin prefers brokers who understand his criteria and remain engaged\n\xa0\n(00:26:00 - 00:30:00) Closing Segment:\nBest Investment: His Family\nWorst investment: Investing in Emu birds from Australia\nBest Lesson learned: Always do your due diligence on all deals.\nQuotes:\n"Take good care of your brokers. Make sure that you send them a birthday present, a Christmas present. Don't ask them to lower their prices." - Kevin Romney\n"Better to walk away than get in and then be over your head." - Kevin Romney\n\xa0\nConnect with Kevin:\n\xa0\nApply to Invest with Taylor at\xa0www.investwithtaylor.com\n\xa0\nTrack your wealth for free with Personal Capital, go to\xa0www.escapingwallstreet.com\n\xa0\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!