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Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits
 
 
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Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits [Hardcover]

David Lindahl (Author)
4.5 out of 5 stars  See all reviews (36 customer reviews)

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Book Description

April 25, 2008
Multi-Family Millions offers expert advice for investors who want to make the transition from single-family homes to more profitable multi-family units. Successful real estate investor David Lindahl shows you how to find troubled properties that are ripe for quick profits, how to fix or flip those properties, and how to re-sell at maximum value. With a proven step-by-step system for managing each stage of the process, this book shows you how to get started in moneymaking multi-family units?even while you work your day job.

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Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits + Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas + Investing in Apartment Buildings: Create a Reliable Stream of Income and Build Long-Term Wealth
Price For All Three: $51.05

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Editorial Reviews

From the Inside Flap

Dave Lindahl was a broke landscaper when he used a cash advance on his credit card to buy his first three-unit apartment house—and immediately reaped a $972 per month positive cash flow. Twelve months later he owned eleven multi-family buildings and had $10,000 per month in extra income. Today, he controls over $140 million in real estate. In Multi-Family Millions, Lindahl shows you how anyone can get started investing in small apartment houses and make great money doing it. You can do it on a part-time basis, and best of all, you never need to deal with tenants.

Compared with single-family homes, multi-family properties hold much greater profit potential and allow you to earn more money on each deal you complete. There is also far less competition in the multi-family market. In addition, having more units under a single roof reduces your investment risk and offers higher long-term profits. The rewards of multi-family investing are obvious, but how can you benefit when you have very little time or money?

Multi-Family Millions is the step-by-step guide that shows you how to get into the multi-family game—and get out with big profits. It provides expert coverage of the most effective investing strategies and gives you guidance on every stage of the process—from finding properties with great profit potential to buying, renovating, and reselling them for big money.

With Lindahl's expert help, you'll discover how to:

  • Identify troubled multi-family properties that are ripe for repositioning

  • Negotiate great purchase prices for target properties

  • Flip properties for fast cash or improve them with affordable, value-adding repairs

  • Resell properties at maximum value with minimum hassle

No matter your level of investing expertise or experience, Multi-Family Millions gives you the perfect strategy for success—especially for investors with little time and little cash on hand. Whether you're an expert investor or just starting out, Multi-Family Millions reveals the proven strategies, tactics, and infor-mation you need to make big profits—faster and easier than you ever thought possible.

From the Back Cover

Discover why apartment houses are the best investment in today's real estate market

The key to making big profits in real estate is to go against the traditional wisdom. When the masses are buying, it's often time to sell. When everyone is selling, there are huge bargains to be found. In Multi-Family Millions, contrarian real estate investor Dave Lindahl shows you how to read the market cycle, and explains why now is a great time to get started investing in apartment houses—even if it's your first time investing in real estate and you have no money for a down payment.

With a simple two- to five-unit multi-family property, or a thirty-unit apartment building, you can implement the same strategies Lindahl used in over 500 deals to build his own real estate fortune:

  • How to reposition a multi-family property for maximum profit

  • Where to get the money for your first deal

  • How to own an apartment house and never deal with tenants

  • Ten bad mistakes rehabbers make

  • Three proven principles for attracting great deals on multi-family properties

  • When and how to resell for huge profits

Conventional wisdom says real estate investors should start with single-family houses. Discover why it's easier and much more profitable to invest in multi-families!


Product Details

  • Hardcover: 272 pages
  • Publisher: Wiley; 1 edition (April 25, 2008)
  • Language: English
  • ISBN-10: 0470267607
  • ISBN-13: 978-0470267608
  • Product Dimensions: 9.2 x 6.4 x 1.1 inches
  • Shipping Weight: 14.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (36 customer reviews)
  • Amazon Best Sellers Rank: #253,024 in Books (See Top 100 in Books)

More About the Author

If you need a refresher on my background, I was a burned-out landscaper 14 years ago. I had:

No money (OK, that's not totally true; I did have a whole $800 in the bank);

No time (that one is definitely true, because each night after a full day of grunting dirt and railroad ties around in my landscaping business, it was all I could do to pop a cool one and collapse in my chair in front of the TV);

No experience. My family didn't know anything about real estate. In fact, I got the "Dave, you're making a big mistake!" speech when I mention real estate.

I didn't "luck into" a fortune. I instead made it using tested and proven systems I developed over time. At first they were crude, but I hate making the same mistake twice, so I got better fast.

Dave Lindahl is an accomplished real estate investor who has been involved in over 550 deals and controls over $240 million in real estate. Dave is the principle owner of the Lindahl Group and the Bostonian Investment Group, a real estate investment company that acquires properties in emerging markets across the nation.

Dave also operates RE Mentor (www.rementor.com), a publishing and seminar company that shows investors how to profit from all forms of real estate investing. He is also a popular speaker and trainer at real estate investment clubs, national conventions, and seminars throughout the country.


Other Programs & Highlights

David is considered as the Nation's Leading Expert in Buying and Selling Multi-Family Properties. Currently owning over 7,200 units around the US, David has been investing in Real Estate for the last 14 years. David regularly shares the same stage as Robert Kiyosaki, Tony Robbins and Donald Trump. Among other publications David has been featured in Reader's Digest, Creative Real Estate Lifestyles, AOL, & Kiplinger Magazine.

Dave Lindahl was hand picked by Donald Trump to write Trump University Commercial Real Estate 101. When asked why Donald Trump picked Dave Lindahl he said, "I chose David Lindahl to write it because he's not only a highly successful investor, but he has a knack for clarity in explaining commercial real estate investing."

Favorite Quotes & Thoughts from David Lindahl

"Take action"

"Money does not make money; It's the movement of money that makes money!"

Ignore the media when they focus on national real estate trends: The
only cycles that count are LOCAL ones"!

"Do You Have "The Attitude"?

That's when you Get To Do:

--WHAT you want

--WHEN you want

--WHERE you want

--WITH WHOM you want!

"My Systems Will Get You There!"



"Whenever you reduce your price or give something up, ask the other
party also to make a concession."

"Practice the "Safe Island Technique" Summarize each step you'll take
the seller through so nothing's a surprise."

"Happiness is Positive Cash Flow!"



Dave Lindahl's Principles of Successful Investing


Have integrity in everything you do

You're not in the real estate business; you're in the marketing
business.

You have to respect yourself in order to get that from others.

Start small, simple, and inexpensively. But start!

Expect to feel a little uneasy at first, and be HAPPY about the fact
that some parts of the business take work.

Be thrifty. Don't be cheap.

Follow my systems before you create your own.

Don't waste time with unmotivated sellers.

Delegate before you think you are ready.

If it works, keep using it; if it doesn't, then tweak it. If it still
doesn't, toss it.

You're marketing to a "moving parade".

Track your activities and results.

Follow Up!

Keep going.

David Lindahl is passionate about real estate investing & that same excitement carries over into his speaking events. Donald Trump best described Dave when he said, "I chose David Lindahl to write it because he's not only a highly successful investor, but he has a knack for clarity in explaining commercial real estate investing." David Lindahl travels the United States holding seminars and real estate camps. Dave's Camps include: "Managing the Manager Boot Camp", "Apartment House Riches Boot Camp" "Private Money Syndication Boot Camp" & "Chunker Boot Camp". To learn more about David Lindahl & all of his products and events go to www.rementor.com


 

Customer Reviews

36 Reviews
5 star:
 (25)
4 star:
 (8)
3 star:
 (1)
2 star:    (0)
1 star:
 (2)
 
 
 
 
 
Average Customer Review
4.5 out of 5 stars (36 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

123 of 169 people found the following review helpful:
1.0 out of 5 stars Why would you give away a great idea?, April 30, 2008
This review is from: Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits (Hardcover)
If someone had a great idea on how to make money why would they tell everyone about it? Why not just got put your idea into practice and make all the money yourself? Because the author of this book is the nicest guy in history? I think it is because he can make more money selling you a bad idea than he can make exploiting the idea itself. That would mean the idea is not very good. Conclusion: Don't buy this book.

Another thing to note. All the other reviewers for this book that gave it four stars. Click on their names. They never reviewed a book before this one. Seem slightly suspicious? It does to me.

Run a search on Google for the title of this book. Find any sites that give a review? Find anything that would indicate how this book leapt to #1 on Amazon? Was the book discussed on any TV shows or on NPR or anywhere else? I didn't find anything.

Better yet, run a search on Google for the author of the book. That is where I found the interesting things.

Also go read the review for his other book: Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas

Here is what a reviewer had to say about that book:
Although the book discusses emerging markets (local markets on the upswing) this is standard advice given in any real estate book. It's not like the whole book specializes on that topic. The book focuses on multi-unit apartment buildings.

More accurate title: Decent book on investing in multi-unit apartments and lots of plugs for my website and products.
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12 of 18 people found the following review helpful:
5.0 out of 5 stars New and practical information that I can use, June 2, 2008
This review is from: Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits (Hardcover)
I have been an investor and rehabbing for several years with single and dual family homes. During this time I have read several books on Multi Family Apartment ownership. For some time I have wanted to move on to larger units but was concerned that I didn't have the knowledge to move forward. Each time I finished reading the other books I came away still feeling I needed more practical information to move forward. After reading Dave's book I came away feeling it's time to make the move (to take action). I have now started putting my team together following the advise Dave outlines in this book. So far it is working great.
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6 of 9 people found the following review helpful:
5.0 out of 5 stars If You're An Active REI...Buy This Book!, July 8, 2008
This review is from: Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits (Hardcover)
I love this book! Dave spoke at my REI club a few years ago and I went to the 1 day seminar that followed. Dave was able to answer all my questions on the subject of owning multi-families (namely dup, tri, and quadplexes).
I was afraid to get out of my comfort zone (single families) but when dave laid out how he felt the same fear that I did and truthfully...YOU are probably feeling I thought...F%&* it!!
This book is a definite short cut for you. And it's a steal!! What does it cost? $15-$20 bucks!!
Even though I regularly buy and sell multi-families and think I know it all, Dave's book has tons of chunks of meat and potatoes for me to still go through. It's works really great with the way the market is and real estate is available for pennies on the dollar.
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
fish pier, emerging real estate markets, wrong management company, get your first deal, repositioning deal, conduit lenders, tenant base, tenant profile, current rent roll, repair allowance, national lenders, property under contract, landlord association, assignment fee, tenant turnover, cap rate
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Don't Wanters, Wall Street, Hey Dave, Old Dave, Fannie Mae, San Francisco, Day One
Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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