Welcome to the Midwest Multifamily Exchange! In this episode, we dive deep into the number one strategy for breaking into the multifamily real estate market. Host Brandy Bryan, alongside her mentor Kevin Morse, shares insights on how building strong relationships and bringing valuable deals to the table can help you gain credibility and mentorship in this competitive industry. Discover the crucial steps to finding and presenting deals, the importance of understanding cap rates, and how to leverage your time to make impactful connections that will set you on the path to success in multifamily investing.

Timeline Summary:

[0:00] - Introduction to the Midwest Multifamily Exchange and the focus of this episode.

[1:17] - Understanding the high barriers to entry in the multifamily space and why it's often called the "Good Old Boys Club."

[2:15] - The key to breaking into the industry: Finding and presenting a solid deal.

[3:08] - Strategies for identifying potential deals through cold calling, emailing, and networking.

[4:52] - Basics of calculating property value using rent, NOI, and cap rates.

[7:10] - The importance of quick and effective communication with potential sellers and investors.

[9:05] - Tools and resources for finding multifamily property listings and building your contact list.

[12:45] - Final tips for new investors to avoid common mistakes and maximize their entry into the market.

Links & Resources:Closing Remark:

• Visit MidwestMultifamilyExchange.com for more information and resources.
• Tools mentioned: CoStar, Reonomy for property listings.

Closing Remark:

If you enjoyed this episode, please subscribe, leave a review, and share it with your network. Your support helps us reach more aspiring multifamily investors. Stay tuned for more actionable advice in our next episode!

Feel free to let me know if there's anything else you'd like to adjust!

In this episode of the Midwest Multifamily Exchange, I dive into the details of my latest acquisition, a 22-unit Light Tech (Low-Income Housing Tax Credit) property in Marshall, Michigan. This is my first active multifamily investment, a significant step up from my previous experience in syndications. I share the story behind the deal, how we managed to purchase the property at a remarkable price, and our plans for adding value through rent increases. I also explain the basics of Light Tech, discussing how this tax credit program works and the benefits of investing in such properties. If you're interested in multifamily investments, particularly in affordable housing, this episode will give you valuable insights into navigating this unique sector.

Timeline Summary:

[0:00] - Introduction

[1:33] - Introduction to my first active multifamily investment.

[3:34] - Overview of the 22-unit Light Tech property acquisition.

[4:41] - Explanation of Light Tech and its benefits in affordable housing.

[6:00] - Why Marshall, Michigan is an ideal location for this investment.

[8:30] - Discovering the value in under-rented units and our plan to increase rents.

[10:27] - Details on the property’s appraisal, financing, and our strategy to refinance.

[14:19] - Challenges and learning curves associated with managing a Light Tech property.

Closing Remark: If you enjoyed this episode, please consider subscribing, reviewing, and sharing the Midwest Multifamily Exchange. Your support means the world to us and helps us bring you more valuable content. See you next week!

In this special life update episode of the Midwest Multifamily Exchange, I, Brandy Bryan, return after a brief hiatus to share some exciting news and major changes in my professional journey. After nearly two years of working exclusively with Kevin Morris at MGM, I’ve made the bold decision to expand my horizons. While I continue to collaborate with Kevin, I’ve also joined forces with Aylesbury Commercial Group, a growing multifamily brokerage in the Midwest. As the managing broker for their Michigan office and chief underwriter, I’m diving deeper into off-market deals across several states, including Michigan, Indiana, Illinois, and beyond.

This episode isn’t just about professional shifts—it’s also about personal growth. I discuss the challenges and insights that come with leveling up your goals and mindset, especially when surrounded by highly successful individuals. It’s been a journey of redefining my vision for the future, and I hope my experiences inspire you to keep pushing forward, even when the path isn’t entirely clear.

Episode Highlights:

• [0:00] - Introduction
• [00:42] - Reflecting on my time at MGM and the decision to expand my client base.
• [01:35] - Joining Aylesbury Commercial Group: New role and responsibilities.
• [04:00] - Off-market deal strategies and options for sellers and buyers.
• [06:24] - Navigating mindset shifts while setting new, higher goals.
• [08:00] - The importance of surrounding yourself with people who inspire and challenge you.

Thank you for tuning in! We’ll be back to our regular weekly schedule, so be sure to subscribe, review, and share the podcast if you found this episode valuable. Your support means the world to us!

In this episode of the Midwest Multifamily Exchange, we explore the intricacies of HAP (Housing Assistance Payments) and LIHTC (Low-Income Housing Tax Credits) with insights from seasoned real estate mentor Kevin Morse. Join us as we break down the differences between HAP and LIHTC, discuss their impact on affordable housing, and uncover strategies for leveraging these programs to grow your multifamily portfolio. Whether you're a newcomer or a seasoned investor, this episode offers valuable knowledge on navigating these complex but rewarding sectors of real estate.

• [0:00] - Introduction to HAP and LIHTC: Overview of the episode's focus on Housing Assistance Payments and Low-Income Housing Tax Credits.
• [2:20] - What is HAP?: Explanation of the Housing Assistance Payments program and its association with HUD and Section 8.
• [4:00] - Differences between HAP and LIHTC: Distinction between asset-based Section 8 (HAP) and Section 42 (LIHTC) tax credits.
• [8:10] - Decline of HAP Contracts: Discussion on why new HAP contracts are no longer issued and the transition towards LIHTC.
• [11:50] - Acquiring HAP Properties: Steps and considerations in purchasing properties with existing HAP contracts.
• [14:30] - Compliance and Management: Overview of compliance requirements and management of HAP properties, including income verification and physical inspections.
• [18:00] - Benefits of HAP Properties: Why investors might prefer HAP properties, including recession-proof aspects and stable rent payments.
• [21:40] - Layering LIHTC with HAP: How to enhance the value of HAP properties by applying for LIHTC to fund renovations and improvements.
• [24:10] - Risks and Challenges: Potential downsides of HAP, including the impact of inflationary rent increases on tenant affordability.
• [27:50] - Future of HAP and LIHTC: Kevin's perspective on the future trends in affordable housing programs and his personal investment preferences.

• Midwest Multifamily Exchange: https://midwestmultifamilyexchange.com
• Robert Hall & Associates: https://roberthalltaxes.com

Thank you for tuning into the Midwest Multifamily Exchange. We hope this episode provided you with valuable insights into HAP and LIHTC. If you enjoyed the episode, please subscribe, review, and share it with others. For more resources and to connect with our community, visit MidwestMultifamilyExchange.com. Happy investing!

Key Talking Points:Links & Resources:Closing Remark:

Join me, Brandy Bryan, in another riveting episode of the Midwest Multifamily Exchange where I dive into the crucial aspects of navigating the multifamily real estate market. In this episode, I share my firsthand experiences and strategies for evaluating potential properties, the importance of due diligence, and optimizing property management. Whether you're a seasoned investor or just starting out, these insights are designed to sharpen your approach and help you make more informed decisions.

• [00:49] - Welcome to the Midwest Multifamily Exchange! An introduction to the podcast and what inspired its creation.
• [01:07] - I discuss my journey in building a multifamily portfolio and my collaboration with mentor Kevin Morse.
• [02:10] - Exploring the initial steps of property evaluation: Understanding financial documents and identifying investment opportunities.
• [04:12] - Strategies for assessing property tax assessments and their impact on investment decisions.
• [05:14] - Conducting rent comparatives to ensure accurate pricing and maximize income potential.
• [06:50] - The importance of property tours and personal inspections to gauge the true value and condition of potential acquisitions.
• [09:29] - Leveraging relationships with property managers and maintenance personnel for deeper insights.
• [13:33] - Assessing community safety and its influence on insurance costs and property value.
• [15:24] - Crafting a compelling Letter of Intent (LoI) and the negotiation tactics that follow.
• [17:50] - The closing process and the final steps before sealing a multifamily property deal.

• Visit our website: Midwest Multifamily Exchange for more resources and to connect with us.

Thanks for tuning into this episode! If you found these insights valuable and are keen to learn more about multifamily investments, don't forget to subscribe, share, and leave a review. Your support helps us grow and bring more useful content your way. See you in the next episode!

Episode Timeline Highlights:Links & Resources:Closing Remarks:

Hello everyone, it's Brandy Bryan here! In this episode of the Midwest Multifamily Exchange, we dive deep into the crucial documents and due diligence needed when purchasing multifamily properties. I'm excited to share my experiences and the lessons learned from my mentor, Kevin Morse, who brings over three decades of real estate wisdom to our discussions. If you're looking to break into or advance in the multifamily market, this episode is packed with actionable advice to streamline your transactions and avoid common pitfalls.

• [00:39] Introduction to the Podcast: A brief overview of what the Midwest Multifamily Exchange aims to provide for its listeners.
• [01:32] Brandy’s Multifamily Journey: How I started building my multifamily portfolio and the importance of mentorship in navigating the real estate landscape.
• [02:54] Initial Due Diligence Post-Contract: Discussing the critical documents we request immediately after going under contract to anticipate potential issues early.
• [05:03] Understanding Property Maintenance Through Documents: Insight into how the condition of a property is assessed through financial and maintenance records.
• [06:06] Utility and Operational Costs: The importance of understanding the full scope of operational costs associated with a property before finalizing the purchase.
• [08:05] Legal and Contractual Obligations: Evaluating vendor contracts and legal obligations that might continue post-closing.
• [09:07] Connecting with the Midwest Multifamily Community: An invitation to visit our website and join the community for further learning and networking.
• [10:08] Detailed Vendor Assessment: Why knowing detailed vendor histories and contractual terms is vital for smooth property management transitions.
• [12:05] Compliance and Documentation for Section 8 Properties: Navigating the complexities of project-based Section 8 properties with thorough documentation review.
• [14:12] Assessing Property Standards and Compliance: How inspection scores can impact property management strategies and future contracts.

• Visit our official website for more insights and resources: Midwest Multifamily Exchange

Thanks for tuning in! If you found the insights shared in this episode useful, please consider subscribing, reviewing, and sharing this podcast. Your support helps us grow and continue providing valuable content. And as always, if you have any questions or need guidance in your multifamily journey, don't hesitate to reach out. See you in the next episode!

Key Highlights:Links & Resources:Closing Remarks:

In today’s episode of the Midwest Multifamily Exchange, join me, Brandy Bryan, as we delve deep into the multifaceted world of multifamily investments, specifically exploring the distinct differences between Logitech and Hap. This session is crammed with critical insights and expert advice on managing and understanding complex housing contracts and tax credit systems. Whether you’re a seasoned investor or just starting out, this episode is designed to equip you with the knowledge to navigate the intricate landscapes of low-income housing and project-based Section 8 housing.

• [00:44] - Introduction to the complexities of multifamily investments and the importance of understanding different sectors.
• [02:29] - A deep dive into Logitech (Low Income Housing Tax Credit), explaining how it operates through the Internal Revenue Service and its impact on development and compliance.
• [05:17] - Comprehensive breakdown of Hap contracts, detailing their historical context, operational mechanics, and rarity in today’s market.
• [10:23] - Discussion on the intersection of Logitech and Hap, and strategies for maximizing investment returns in regulated environments.
• [15:33] - Practical insights into the processes and benefits of rehabilitating properties under existing Hap contracts.
• [18:04] - Exploring the financial stability and recession-proof nature of Hap properties, emphasizing strategic investment opportunities.
• [20:56] - Advice on managing compliance and regulatory requirements to ensure continued profitability and legal conformity.
• [23:25] - A look at market trends and the potential financial implications of contract renewals and rent adjustments.
• [25:11] - Closing thoughts on the challenges and opportunities in multifamily investments, encouraging proactive learning and adaptation.

• Visit Midwest Multifamily Exchange for more insights and support in your multifamily investment journey.

Thank you for tuning in to this episode of the Midwest Multifamily Exchange. If you found today’s content insightful, please consider subscribing, sharing, and leaving a review. Your support helps us bring more valuable content to you each week! Until next time, keep navigating the investment waters wisely and don’t hesitate to reach out with your questions!

Key Highlights:Links & Resources:

Join Brandy Bryan as she delves into the intricacies of multifamily investing in this enlightening episode of the Midwest Multifamily Exchange. In a candid exploration of complex investment terminologies and strategies, Brandy shares her personal experiences and the lessons learned on her journey in real estate. Whether you're a seasoned investor or just starting out, this episode promises a wealth of practical advice on how to navigate the multifamily landscape effectively.

• [00:46] - Welcome and Series Introduction: Brandy introduces the show and outlines its mission to provide actionable advice for aspiring multifamily investors.
• [01:04] - Meet the Host: Learn about Brandy’s background and her hands-on approach to building her multifamily portfolio under the mentorship of industry veteran Kevin Morris.
• [02:18] - Multifamily Terminology: A comprehensive rundown of essential industry terms to help listeners navigate conversations with brokers and investors with confidence.
• [06:20] - Analyzing Financials: Brandy explains the importance of understanding a property's financials, including NOI, cash flow, and how to evaluate potential investments.
• [10:45] - Value-Add Strategies: Discover strategies for increasing a property's value, from rent adjustments to full-scale renovations.
• [14:33] - Understanding Cap Rates: A detailed discussion on cap rates and how they influence property valuation and investment decisions.
• [19:48] - Return on Investment Metrics: Brandy breaks down different ROI calculations like cash on cash return and IRR, highlighting their relevance in investment planning.
• [22:17] - The Role of General and Limited Partners in Syndications: Insights into the dynamics of partnership roles and the expectations in real estate syndications.
• [25:14] - Navigating Debt Options: The differences between bank debt and agency debt, and how they impact your investing strategy.
• [28:12] - Loan-to-Value (LTV) and Debt Service Coverage Ratios (DSCR): Key financial metrics lenders use to assess the risk and potential of multifamily loans.

• Visit Midwest Multifamily Exchange for more insights and resources on multifamily investing.

Thank you for tuning into the Midwest Multifamily Exchange. If you found this episode helpful, please subscribe, share, and leave a review to help us grow and reach more aspiring investors like you!

Episode Highlights:Links & Resources: