Ep #167 – Nathan Tabor – Started Multifamily in 2006, $52m in deals and currently Owns 166 Units (4 Complexes)
Here’s Some of What You Will Learn:
- Nathan received 100% financing and 100% renovation and closed in 24 days from a community bank on his first deal!
- Nathan first deal was 2 apartment buildings (30 units) in Winston Salem and flipped them for a $250,000 profit in 8 months.
- Why you should offer what the property is worth to you and not what the owner is asking for.
- How to find deals in this market.
- Why your relationship with Brokers are important.
- Why you should be as specific as possible when talking with a broker. Defining your niche.
- How your wife’s intuition can help you in this business.
- Why you should call the zoning department as part of your due diligence.
- Calling the planning department can help determine if anything is planned that will positively or negatively affect the property.
- You should never rely on anyone (Seller/Broker/etc) when doing your due diligence; you need to find this information yourself.
- Whenever you are dealing with a bureaucracy (planning, zoning, building department, assessor’s office, treasury), always ask for confirmation in writing.
- The moment you have a property under contract and you are doing due diligence, you need to try to find reasons why you do not want to do the deal.
- Why you should ask for copies of bank statements on a property.
- Go to the building department and ask for recurring violations to find out if there will be any hidden repairs that the property may need.
- How asking current contractors working on the property can give you information.
- Also asking contractors that have not worked on the property can help with due diligence.
- Why you should never pay a contractor an advance.
- When walking a property and the owner is not allowing you to see a unit, just assume that you need to completely renovate that whole unit.
- Why you should test everything in a unit as much as possible.
- Why you should not skip out on getting a phase 1 environmental.
- Connect with me on Facebook at Rod Khleif.
- Text Rod to 41411 or visit RodKhleif.com for a FREE copy of my book, “How to Create Lifetime Cash Flow Through Multifamily Properties.”
You can learn more about Nathan Tabor at: