EP080: Multi-Family Investing like a Pro - Interview with Charles Dobens

This episode is brought to you by Hello Fresh. Visit HelloFresh.com and enter coupon code IIRE for $35 off your first week of convenient, easy, and fresh meal kits delivered straight to your door. 

In any real estate deal, you’re likely to be dealing with tens of thousands of dollars; in a multi-family unit, the stakes are even higher! And when you’re handling that kind of money, there’s a right way and a wrong way to do the deal. The goal is always return on investment, so you want to construct a deal that brings in a high cash flow, month after month, year after year. 

Joining us on episode 80 of Investing in Real Estate is Charles Dobens! Charles is a practicing attorney, and a high-level investor. He also runs Multifamily Investing Academy, where he trains investors on multi-family acquisitions. As a trained lawyer, Charles brings a wealth of experience and knowledge to the table, and on today’s show, he’s sharing how to invest the right way!  

More About This Show
Charles Dobens and his wife are both business owners, who quickly understood the value of real estate investing. They were immediately attracted to multi-family investments, because of the high cash flow and low emotional investment. He sought out a broker, and made his criteria clear.

Charles was looking for a property that wouldn’t consume all of his time, as he wanted to continue his law practice. He also didn’t want to go through a rehab or repositioning process. He wanted a property he could forget that he even owned.

The broker came back with Charles with a deal he couldn’t pass up—a 40-unit property in Michigan. He was able to put together a sizeable down payment through the collective resources of his friends and family. The numbers made sense; he was happy with the cash flow the property would bring in. This property was just the beginning; today he owns over $20 million of property across the Midwest.

As a lawyer, Charles has a unique perspective on multi-family real estate. He explains, there are plenty of seasoned, knowable lawyers who know how to draft contracts for real estate, but they are uninformed about the details of the deals. They are unable to tell their clients if the deals are good, or what to look for in the due diligence process. He saw this need, and felt he could add the most value to the real estate sector by applying his knowledge to acquisition of properties. That’s exactly what he does at Multifamily Investing Academy.

Today on the show, Charles and I are discussing the finer details of multi-family real estate. We’ll converse about how to structure financing, setting up a business structure, and the importance of taking action. We’ll also talk about how to make an offer, and how to appease private investors. Charles has so much to offer on this topic; don’t miss episode 80 of Investing in Real Estate!

Are you ready to take action and earn a passive income through rental real estate? If so, book a FREE call with my team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.

On this episode you’ll learn:

  • What is the biggest mistake investors make in due diligence?
  • How can you finance a multi-family property in order to bring in the most cash flow?
  • What is the difference between the two programs offered by Multifamily Investing Academy?
  • What is a phantom lease? 
  • How can you set up an LLC in order to save the most money?
  • What does Charles consider the biggest lie in multi-family real estate?
  • And much more about real estate investing!

 Episode Resources
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