Podcast appearances and mentions of charles dobens

In this podcast episode, Charles Dobens shares a mix of insightful real estate industry updates and humorous anecdotes. From discussing Blackstone's significant investment in multifamily properties to the challenges landlords face in New York City and beyond, Charles offers a candid look at the current landscape. He also delves into the complexities of office-to-residential conversions and reflects on the pitfalls encountered by syndicator Kenny Wolf. Throughout, Charles injects his trademark wit and wisdom, making for an engaging and informative listen.

In today's episode, the Multifamily Attorney, Charles Dobens, delves into the often overlooked but crucial process of transitioning into property ownership. Charles outlines ten indispensable steps that every new owner-operator must take to smoothly navigate this transition. From communicating changes to residents and vendors to ensuring seamless utility transfers, Charles provides invaluable insights gained from years of experience in the multifamily real estate industry. Discover why effective communication between asset managers and property managers is the cornerstone of successful property management. This episode equips you with the knowledge and strategies to thrive in property ownership. Tune in and elevate your property management game with Charles Dobens.

Charles Dobens shares his journey of how he got started in the multifamily real estate business. He talks about his dissatisfaction with his previous career and his burning desire to own apartments. He shares his experience of attending a guru's boot camp and making his first offer on a 40-unit property. He also discusses the challenges he faced with property management and the lessons he learned from his mistakes. He concludes by emphasizing the importance of doing the business the right way and offering advice to aspiring investors.  Links mentioned in this call: Charles Book - How to Own 1,000 Apartments in Five Years Hotel to Homes Conversion Portal - Louisville  

Join host Charles Dobens in this riveting episode as he delves into the murky waters of real estate coaching and mentoring. With over a decade of experience in the multifamily industry, Charles sheds light on the darker aspects of some coaching programs and shares cautionary tales that every aspiring investor should heed. Tune in to discover the importance of due diligence in selecting a coaching program, and how to identify red flags before signing on the dotted line. Whether you're new to real estate investing or a seasoned entrepreneur, this episode provides invaluable insights to safeguard your investments and achieve financial freedom. Don't miss out on this enlightening discussion with Charles Dobens, your trusted guide in navigating the murky waters of real estate coaching.

Join the Multifamily Attorney, Charles Dobens, as he delves into the intricacies of property management, asset optimization, and navigating contractual challenges in the multifamily real estate arena. In this engaging episode, Charles shares invaluable insights and strategies to empower property owners and investors alike. From maximizing revenue streams to mitigating expenses and understanding the pivotal role of asset management, this episode offers practical advice and real-world scenarios drawn from Charles's extensive experience. Tune in to gain expert perspectives on mastering the multifamily market and safeguarding your investment for long-term success.

Delve into the complexities of real estate financing as Charles Dobens explore the intricacies of recourse and non-recourse loans in our latest podcast episode. Join Charles in navigating the nuanced terrain of bad boy provisions and shed light on when non-recourse truly means non-recourse. Don't miss out on invaluable insights to safeguard your investments and make informed decisions in the dynamic world of real estate finance. Tune in now!

Join our host, Charles Dobens, in this enlightening episode as he delves into the intricacies of real estate purchase and sale agreements. Drawing from his vast experience, Charles breaks down crucial contract elements designed to protect investors from potential pitfalls. From escape clauses to effective dates, each provision serves to shield investors from unnecessary risks and ensure smoother transactions. Through vivid anecdotes and detailed explanations, Charles empowers listeners with the knowledge needed to navigate the complexities of real estate deals confidently. This episode offers invaluable insights to safeguard your investments and maximize your success in the real estate market. Tune in and learn how to fortify your deals and avoid costly mistakes in your real estate ventures.

Join us as we unravel the intricacies of legal aspects related to real estate, injecting life into the subject for a clearer understanding of the game. I'm your host, Charles Dobens, and in each episode, we'll dissect real cases, providing insights and lessons vital for those navigating the real estate landscape. In this week's session, we embark on a journey through a landmark case - 'JKS Realty versus the City of Nashville.' This case, touching my personal history, delves into eminent domain, specifically labeled as 'inverse condemnation.' We'll explore the legal terrain of New Hampshire and how it intersects with broader constitutional principles. Review the case here:  https://cases.justia.com/new-hampshire/supreme-court/2011-095.pdf?ts=1396100300

Welcome to our podcast where we share a unique perspective on the exciting world of converting hotels to apartments. Join us, Charles Dobens and David Peters, as we discuss our unconventional approach and the essential insights you need, whether you're an experienced investor or a newcomer. Stay tuned as we share the top 10 topics on hotel-to-apartment conversions in 2024. In this episode, we focus on preferred returns, financial benchmarks, and the unique opportunities we identify in distressed properties. Join us on this informative journey, where we're not just doing well but doing good by creating a new market in the real estate landscape.

In this podcast episode, Charles Dobens delves into the contentious topic of passive investing, asserting that it might be a scam. He explores three compelling reasons to support his viewpoint. Firstly, he draws parallels between passive investments and pyramid schemes, arguing that only those at the top of the hierarchy benefit substantially. Secondly, he highlights the growing trend of cash calls in passive investments, suggesting that this contradicts the essence of true passivity. Lastly, Charles contends that the process of raising funds for passive investments often involves breaking securities laws, particularly by compensating capital raisers based on the funds they bring in. As a bonus insight, he challenges the celebration at the closing table, advocating for delayed profitability and backend gains. Charles encourages a critical evaluation of passive investments, questioning the conventional narrative of easy wealth accumulation.

Join us in this episode as Charles Dobens discusses a critical issue in multifamily ownership – escalating problems in the insurance field. Focused on empowering property owners, he explores challenges with insurance renewals and their potential impact on businesses. This episode explores strategies for risk management, including increasing deductibles and implementing programs like the Waiver Program, a groundbreaking solution to involve tenants in insurance costs. He introduces innovative strategies, including risk retention and transfer, sharing statistics on tenant-related claims. Charles is inviting property owners to explore this transformative risk management approach.

In this informative discussion, Charles Dobens shares his insights and experiences in the real estate investment industry. He highlights the importance of timing and strategy when it comes to celebrating success in real estate deals. By debunking the misconception of celebrating at the time of property acquisition, Charles emphasizes the significance of realizing profits and achieving successful conversions. Join Charles as he discusses his approach to hotel-to-apartment conversions and the goals of creating affordable housing units. He also provides updates on upcoming webinars and events. Don't miss out on the opportunity to gain valuable knowledge and insights from this seasoned real estate investor.

In this episode, Charles Dobens emphasizes the importance of grasping the difference between legal and equitable remedies, cautioning against potential pitfalls in auction contracts that may lead to unforeseen liabilities. Additionally, this episode highlights a specific case where a property had a demolition order, underscoring the need for careful consideration before entering into auction agreements. The overall message encourages individuals to be cautious and informed when dealing with auction contracts in real estate transactions.

Charles Dobens, the multifamily attorney and founder of the Multifamily Investing Academy, introduces his guest, Cristen Martinez, a seasoned attorney from Tampa, Florida with 14 years of experience in real estate law. The discussion covers working with contractors in multifamily projects, highlighting key provisions to include in contracts. There is a lighthearted banter between Charles and Cristen, with a focus on practical application of property law in real-life scenarios. The conversation delves into dealing with subcontractors, specific performance in real estate contracts, recording contracts and legal formalities, Airbnb legal challenges, financing contingencies, interpleader, zoning issues, and adverse possession cases, providing valuable insights into the legal nuances of real estate law.

In this engaging discussion on multifamily due diligence, Charles Dobens, an experienced speaker in the field, shares insights into the three vital documents essential for successful property evaluation. Drawing from his extensive experience, including teaching a comprehensive class on the subject, Charles discusses the significance of these documents. This episode provides a comprehensive overview of the multifamily due diligence process, emphasizing the pivotal role of bank statements, lease files, and thorough market analysis in making informed investment decisions.

Charles Dobens delves into the critical aspects of partnerships in the business world, particularly focusing on real estate and limited liability companies. He emphasizes the importance of planning for potential issues before entering into partnerships, sharing practical advice from his own experiences. From tough conversations about roles and abilities to the significance of drafting a non-binding memorandum of understanding, this episode provides valuable insights for anyone considering or currently engaged in a partnership. Visit MultifamilyOS.com for more information, tools, and multifamily investing resources!

In today's episode, join Charles Dobens as he dissects the mysteries surrounding construction productivity. Charles talks about a Freakonomics podcast episode titled "Why is it so hard and expensive to build anything in America?" Charles discusses how construction productivity in the U.S. has flatlined since the 1960s, leading to increased costs. The factors contributing to this include regulations, lack of incentives, internal and external factors, and the absence of mass production in the construction industry. He mentions a study that highlights the impact of land use regulations and the need for changes in mindset to address the issue.  Focusing on the effects of regulations, industry practices, and the absence of incentives, Dobens navigates through the complexities that contribute to stagnant construction output. Visit MultifamilyOS.com for more information, tools, and multifamily investing resources!

Embark on a deep dive into the multifaceted world of multifamily real estate investing. Your host Charles Dobens shares invaluable insights into negotiating seller financing, offering three pivotal tips that can significantly impact the success of your deals. From the nuanced art of strategic questioning to safeguarding your control throughout the deal, this episode serves as a comprehensive guide for navigating the complexities of multifamily business. Whether you're a seasoned investor or a newcomer to real estate, this episode is a must-listen for those aiming to elevate their negotiation skills and ensure success in multifamily investing. Visit MultifamilyOS.com for more information, tools, and multifamily investing resources!

In this engaging episode, Charles Dobens and Bob Damigella explore the fascinating world of real estate finance. Bob, with over 30 years of experience and $3 billion in debt and equity under his belt, reveals the intricacies of his day job as the Head of Capital Markets for Marcus and Millichap in New England. From surviving the aftermath of the 09 crash to creating a program that teaches new investors the ropes, Bob shares valuable insights and lessons. Discover how Bob and Charles simplify concepts like debt, equity, and the capital stack, making real estate financing accessible to all. Uncover the secrets of financing commercial real estate and a glimpse into the cutting-edge investment opportunities of the 2024 real estate market. Visit MultifamilyOS.com for more information, tools, and multifamily investing resources!

Welcome to the Multifamily Investing Academies podcast with Charles Dobens, founder of the Multifamily Investing Academy.  In this episode, Charles Dobens explores critical mistakes new multifamily investors often make. He touches on impatience in seeking deals, dispels the myth of passivity in investing, and emphasizes the necessity of treating multifamily real estate as a serious business.  For more multifamily insights, visit multifamilyos.com, and check out Charles's weekly live sessions on www.youtube.com/multifamilyinvestingacademy. Remember, if you're not making offers, real estate is just an expensive hobby. Stay tuned for more valuable discussions!

Welcome to the Multifamily Investing Academies podcast with Charles Dobens, founder of the Multifamily Investing Academy. In this episode, Charles breaks down a recent Real Deal article titled "Syndicators are sinking. Who'll make it out alive?" He discusses the challenges inexperienced syndicators face, emphasizing the importance of transparent communication. Charles shares stories of syndicators in financial distress and highlights the impact on creditworthiness. The episode explores the consequences of denial and misinformation and advises on navigating foreclosures. Charles provides insights into the next market opportunities, focusing on distressed assets at local banks. For more multifamily insights, visit multifamilyos.com, and check out Charles's weekly live sessions on www.youtube.com/multifamilyinvestingacademy. Remember, if you're not making offers, real estate is just an expensive hobby. Stay tuned for more valuable discussions! Read full Real Deal Article Charles Dobens' YouTube Channel Multifamily Investing Academy

Discover the transformative world of real estate negotiation with Tom Zeeb on this week's podcast. Tom's riveting journey from financial struggle to success began in 2001, fueled by a near-death experience while rafting that sparked his quest for freedom from a traditional job. Drawing from extensive expertise in negotiation, marketing, and business, Tom shares fundamental keys to real estate triumph: effective marketing for uncovering deals, honed negotiation skills to shape transactions, and establishing solid legal frameworks. Tune in to explore Tom's renowned Total Traction Program, designed to empower investors of all levels in multifamily real estate, and learn how mastering negotiation can unlock opportunities for financial prosperity and personal fulfillment in real estate investing. Be sure to also go to www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”.    

Join ‘The Multifamily Attorney' Charles Dobens as he shares his wealth of knowledge to differentiate the nuances between residential and multifamily real estate. He delves into cautionary tales, warning against the allure of 100 percent seller financing and sheds light on properties deemed 'unsellable' due to lender reluctance. Through this candid discussion, Charles empowers listeners with strategies to discern lucrative multifamily investments from potential pitfalls. Join us as we navigate the multifamily market's intricacies, offering actionable advice and insights to thrive in this competitive landscape. Be sure to also go to www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”.

Join us for this episode, where we dive into the cutting-edge world of real estate technology with Marc Rutzen, the Co-Founder and CEO of HelloData.ai. Marc shares his remarkable journey from being a real estate developer and analyst for five years to venturing into real estate technology with the founding of Enodo, subsequently acquired by Walker & Dunlop. Scaling teams and serving as Chief Product Officer before returning to the startup realm in 2023 with HelloData.ai, Marc's expertise and vision underscore the platform's significance in reshaping how multifamily properties are assessed and managed. HelloData.ai stands out as a revolutionary platform utilizing AI to analyze multifamily rent and expenses, optimize rental pricing, and boost Net Operating Income (NOI). Join us as we explore the fascinating blend of real estate, technology, and data analytics, uncovering HelloData.ai's pivotal role in revolutionizing industry practices and empowering professionals with invaluable AI-driven insights. Be sure to also go to www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”.

Welcome to our latest podcast episode, where we unpack the dynamic world of real estate investment and community development through the lens of Wollaston Real Estate Investments. Join us as we delve into the strategic roles of founders Alex Cwiakala and Harrison Bonner. Alex's focus on capital acquisition and sales management complements Harrison's oversight of communication, construction, and relationship-building with contractors. Discover how this innovative company identifies niche markets in Western, MA, transforming properties into thriving assets with a keen eye for long-term growth and equity. Learn about the Wollaston Wealth Fund, offering investors an impressive 15% APR return and the flexibility to compound returns or receive annual distributions. Throughout this episode, gain insights into the company's commitment to trust, protection of investor interests, and their collective vision of community-centric growth. Explore the significance of vertical integration in maximizing their operational model, shaping a compelling narrative of real estate investment intertwined with community empowerment. Be sure to also go to www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”. 

Join us in this episode as we sit down with Julian Vogel, the seasoned Fund Manager at Colony Hills Capital, to delve into the intricate world of real estate finance and syndications. Julian's rich background, from boutique sales brokerage to founding his own successful ventures, provides a unique perspective on structuring multifamily syndications for optimal returns. He shares invaluable insights garnered from his extensive experience, focusing on strategies to maximize returns for both investors and sponsors. Additionally, Julian unveils the innovative Co-GP investment strategy of Colony Hills' latest offering, the Catalyst Real Estate Fund III (CREF III), allowing passive access to GP level returns without the hassle of active involvement. Don't miss this episode packed with expert advice and a glimpse into the cutting-edge investment opportunities in the real estate market. Be sure to also go to  www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”.    

Join us in this episode as we sit down with Scott Royal Smith, the Founder and CEO of Royal Legal Solutions, an attorney with over a decade of experience protecting over $1.2 billion in assets for clients across the United States. Scott, a former high-stakes corporate litigator turned real estate investor, shares invaluable insights into asset protection and real estate planning. From tax deductions, shelters, and depreciation analysis to optimizing investment portfolios, Scott's expertise guides listeners through the intricate landscape of safeguarding wealth. Learn about the Royal Vault, an exclusive resource hub offering free ebooks, videos, and direct access to legal and financial experts, empowering investors to fortify their assets. Discover how Scott's extensive knowledge can help navigate the complexities of real estate investments, providing invaluable strategies for securing and preserving wealth. Be sure to also go to www.multifamilyos.com to get your free copy of host, 'The Multifamily Attorney', Charles Dobens', book “How to Own 1,000 Apartments in Five Years”.  

Get ready for an insightful episode with 'The Multifamily Attorney', Charles Dobens, as he unveils essential insights in, 'The Five Things Every Syndicator and Passive Investor Should Know About Their Investment When Interest Rates Rise'. Joining the discussion is David Peters, bringing expertise and perspective to the table. Together, they navigate the rising tide of interest rates and its impact on Cap Rates, guiding listeners through a crucial to-do list for investors during rate hikes. Discover the importance of prompt communication with investors, unraveling the triggers behind Bad-Boy Provisions, and gaining clarity on the intricacies of your bank relationship. They'll also cover the critical timing and execution of capital calls, culminating in an exploration of adapting investment strategies, including the intriguing realm of hotel to apartment conversions. Don't miss this episode packed with actionable strategies and valuable insights for navigating multifamily investments in changing interest rate environments. For more information or to get started in multifamily investing, please visit: https://www.multifamilyinvestingacademy.com/. 

In this week's episode, we are pleased to have Richard Robinette, a seasoned attorney with expertise in crowdfunding law from Crowdfunding Lawyers, joining us once again. During this conversation, Charles Dobens, 'The Multifamily Attorney,' engages Richard in a discussion about the challenges faced by General Partners (GPs) and how certain GPs put their reputations at risk by making overzealous initial promises. A key takeaway from this episode underscores the importance of cultivating robust relationships with investors and maintaining a thorough understanding of one's business associates. Furthermore, Richard provides insights into the world of joint ventures and addresses specific issues he identifies in the work of other attorneys pertaining to securities. To learn more about multifamily investing or to embark on your own journey, please visit: https://multifamilyos.com/hotel-2-apartment-conversion-summit/.   

Join Charles Dobens, 'The Multifamily Attorney,' as he delves into the Multifamily Mid-Year Market Report brought to you by our friends at IRR.com. In this informative discussion, Charles is joined by The Real David Peters to dissect these prevailing market trends. To gain insights into regions experiencing hyper-supply, make sure to access the report for download. Then, Charles addresses some of the most frequently asked questions posed by his multifamily clientele, including topics such as: How to structure Seller Financing? Tenants are paying utilities so why does the electricity (etc.)  show up on the T12 (Trailing 12)? A new way to cook the books? What do you do when 30% of the rents are collected as cash and not deposited? What should the Debt Coverage Ratio be? To learn more about multifamily investing or to embark on your own journey, please visit: https://www.multifamilyinvestingacademy.com/ or to download the Multifamily Mid-Year Report visit: https://www.irr.com/.  

Join 'The Multifamily Attorney,' Charles Dobens, as he delves deeper into the world of 'Hotels to Apartment Conversions' in this week's episode. Charles discusses his highly sought-after 'Hotels 2 Apartments' cohort program, a visionary initiative geared towards educating and molding future multifamily real estate partners. By delving into the exciting prospects of Hotel to Apartment Conversions, this episode provides valuable insights and opportunities for aspiring investors. Emphasizing how the demand is there for buying low and selling high while harnessing cap rates to your advantage, Charles explains why this type of investment is truly so lucrative. As cohort members, Charles and his team will collaborate with you on deals, facilitating funding through joint venture partnerships, promising a rewarding journey in the multifamily investing landscape. Don't miss this episode for a glimpse into the future of real estate innovation. You can register now for the next H2A Conversion Summit in Las Vegas, Nevada on November 3-5. To learn more about multifamily investing or to embark on your own journey, please visit: https://multifamilyos.com/hotel-2-apartment-conversion-summit/.  

In this week's episode, we delve into the world of equity investment and securities law with Richard Robinette, a seasoned expert and attorney at Crowdfunding Lawyers. Richard, a passionate advocate for businesses and investors, recently sponsored and spoke at our ‘Hotel to Apartment Conversion Summit' in Chicago. He has returned as a guest on 'The Multifamily Attorney', Charles Dobens', private Monday Night Live Weekly Group Coaching Call. Today, we're thrilled to share his wisdom with you as he simplifies the complexities of "Private Securities in Plain English: How to Raise Money Legally and Effectively." Richard's insights are invaluable for entrepreneurs and investors alike, offering actionable steps to navigate the intricate world of private securities within the bounds of the law. Don't miss this masterclass in capital-raising legality and effectiveness. To learn more about multifamily investing or to embark on your own journey, please visit: https://www.multifamilyinvestingacademy.com/.

Join 'The Multifamily Attorney,' Charles Dobens, as he concludes his two-part series on his 'Hotels 2 Apartments' program. In this episode, Charles reveals why passive investing is far from the promised path to multifamily millions. He pulls no punches, exposing passive investing as a scam where only the top players profit. He highlights the hidden tax implications that can eat into your returns and explains how a syndication model truly does not align with passive investment goals. If you're serious about multifamily real estate and financial success, don't miss this eye-opening episode where Charles Dobens separates fact from fiction in the world of passive investing. To learn more about multifamily investing or to embark on your own journey, please visit: https://www.multifamilyinvestingacademy.com/.

Join ‘The Multifamily Attorney'- Charles Dobens for the beginning of a two-part series that unveils the latest innovations from the ‘Multifamily Investment Academy'. Brace yourself for this groundbreaking ‘Hotels 2 Apartments' program, a visionary initiative poised to not only educate, but also mold students into future partners, primed to excel in multifamily investing. In this episode Charles navigates the unforeseen terrain of the multifamily industry's future, challenging preconceptions and spotlighting why Hotel to Apartment Conversions have emerged as the red-hot prospect for multifamily investors. From the scarcity of traditional multifamily deals to the urgency of affordable housing in the United States, Charles dissects crucial dynamics and introduces the concept of 'cap rate arbitrage', a strategic approach that promises to redefine success in the multifamily landscape. Prepare for a paradigm-shifting exploration, where Charles Dobens' expertise reshapes your outlook on multifamily real estate, offering key insights to both seasoned investors and newcomers embarking on their investment journeys. To learn more about multifamily investing or to embark on your own journey, please visit: https://www.multifamilyinvestingacademy.com/.

This week Anthony and Cameron are joined by the Multifamily Attorney, Charles Dobens. During his career as an investor and mentor, it came to Charles attention that there was a high demand for apartments. Charles and one of his students found a way to capitalize on it- by buying hotels. Today, Charles and his former student teach others how to purchase hotels and turn them into high yielding apartments! Enjoy this week's episode! Resources: Charles T Dobens, the Multifamily Attorney https://www.multifamilyinvestingacademy.com/ Live Seminar: Why Hotel to Apartment conversions, and Why Now? https://www.multifamilyinvestingacademy.com/hotel-2-apartments  Schedule your 15-minute call with Anthony or Cameron here: http://bit.ly/iwc15podcast Check our online course at www.InfiniteWealthCourse.com Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC   

Join ‘The Multifamily Attorney'- Charles Dobens for the second installment of our new 5-part miniseries: Hotel to Apartment Conversion. In this episode, David Peters comes on to discuss how investing in a hotel that you convert into a apartments increases the valuation of the property as soon as the asset class is changed. Don't miss your opportunity to attend our H2A Summit in Chicago to learn WHY and HOW to take advantage of this opportunity to do good for others while being involved in this profitable real estate niche. This is an incredible chance to have 3 days of exclusive access to industry-leading experts who have achieved remarkable results in the hotel to apartment conversion space. Take the first step toward transforming your real estate game by joining us in Chicago, July 28th-30th, 2023. For more information or to register for the event, please visit: https://www.multifamilyinvestingacademy.com/hotel-2-apartments/.   

Join ‘The Multifamily Attorney'- Charles Dobens for the fifth installment of our new 5-part miniseries: Hotel to Apartment Conversion. In this episode, David Peters wraps up the case study of a hotel to apartment conversion. Don't miss your opportunity to attend our H2A Summit in Chicago to learn WHY and HOW to take advantage of this opportunity to do good for others while being involved in this profitable real estate niche. This is an incredible chance to have 3 days of exclusive access to industry-leading experts who have achieved remarkable results in the hotel to apartment conversion space. Take the first step toward transforming your real estate game by joining us in Chicago, July 28th-30th, 2023. For more information or to register for the event, please visit: https://www.multifamilyinvestingacademy.com/hotel-2-apartments/.   

Join ‘The Multifamily Attorney'- Charles Dobens for our new 5-part miniseries: Hotel to Apartment Conversion featuring presenters David Peters and Dr. Alexander Cartwright. In these episodes you will learn: Why 2023 is the Year of the Hotel to Apartment Conversion. Don't miss your opportunity to attend our H2A Summit in Chicago to learn WHY and HOW to take advantage of this opportunity to do good for others while being involved in this profitable real estate niche. This is an incredible chance to have 3 days of exclusive access to industry-leading experts who have achieved remarkable results in the hotel to apartment conversion space. Take the first step toward transforming your real estate game by joining us in Chicago, July 28th-30th, 2023. For more information or to register for the event, please visit: https://www.multifamilyinvestingacademy.com/hotel-2-apartments/.   

Join ‘The Multifamily Attorney'- Charles Dobens for the fourth installment of our new 5-part miniseries: Hotel to Apartment Conversion. In this episode, David Peters sits down to discuss a case study of a deal. Listen as they talk about the good, the bad and the ugly of an actual hotel to apartment conversion. Don't miss your opportunity to attend our H2A Summit in Chicago to learn WHY and HOW to take advantage of this opportunity to do good for others while being involved in this profitable real estate niche. This is an incredible chance to have 3 days of exclusive access to industry-leading experts who have achieved remarkable results in the hotel to apartment conversion space. Take the first step toward transforming your real estate game by joining us in Chicago, July 28th-30th, 2023. For more information or to register for the event, please visit: https://www.multifamilyinvestingacademy.com/hotel-2-apartments/.  

Join ‘The Multifamily Attorney'- Charles Dobens for the third installment of our new 5-part miniseries: Hotel to Apartment Conversion. In this episode, David Peters comes on to discuss how we have been told that owning apartments where the majority of units are studios is bad. What has changed? Don't miss your opportunity to attend our H2A Summit in Chicago to learn WHY and HOW to take advantage of this opportunity to do good for others while being involved in this profitable real estate niche. This is an incredible chance to have 3 days of exclusive access to industry-leading experts who have achieved remarkable results in the hotel to apartment conversion space. Take the first step toward transforming your real estate game by joining us in Chicago, July 28th-30th, 2023. For more information or to register for the event, please visit: https://www.multifamilyinvestingacademy.com/hotel-2-apartments/.   

In this episode, I'm joined by Charles Dobens, a successful multifamily investor, attorney, and founder of MultifamilyOS, a coaching and mentorship program designed to help investors get into multifamily real estate. We discuss the current market cycle and share valuable insights on raising money and scaling your business. They also emphasize the importance of staying active in the market and consistently sharing your story to find deals and investors. Charles is an incredibly successful investor with a 20+ year track record - valuable content in this episode! Show Notes: The current market cycle shares similarities to the 2008-2010 cycle, and investors should be prepared for a potential downturn. Why raising money is such a crucial skill for investors looking to scale their businesses and do larger deals Why staying active in the market is essential, even when deals are hard to come by, to ensure you are getting the necessary experience and building relationships. How to consistently tell your story to find more deals and attract more investors. If you're looking to improve your multifamily investing skills and learn from a seasoned expert, be sure to tune in to this episode! Are you tired of competing with other buyers and waiting on brokers to send you deals? Want to learn exactly how you can find more discounted multifamily deals than you know what to do with? Click here to check out our Off-Market Multifamily Deals course, where we teach investors how to develop a robust pipeline of discounted, off-market multifamily deals in six weeks or less. Are you looking to invest in real estate but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners partners with passive investors looking for the returns, stability, and tax benefits investing in real estate offers, but not the work - join our investor club to be notified of future investment opportunities. Connect with Axel: Follow him on Instagram Connect with him on Linkedin Learn more about Aligned Real Estate Partners Connect with Charles: Learn more about Charles and his Multifamily OS   

In this episode, Charles Dobens and David Peters, two experienced real estate investors, discuss the exciting opportunities of converting hotels into profitable apartment complexes. With years of experience in the multifamily investment space, Charles and David share their insights and tips on this lucrative investment strategy. For more information or to get started in multifamily investing, please visit: https://www.multifamilyinvestingacademy.com/.

Welcome back to the Profit First for REI podcast. Our guest today is Charles Dobens, a multifamily attorney investor with years of experience in the real estate industry. He is the founder of Multifamily Investing Academy, the creator of the MultifamilyOS™️ System, and the host of the award-winning Multifamily Investing podcast.Charles joins us to share his insights on the business of real estate and emphasizes the importance of treating it like a business. He also delves into the three parts of a real estate deal, breaks down the benefits of holding real estate, and offers practical steps for those looking to build wealth through real estate investments.Whether you are interested in transitioning from single-family to multifamily real estate or simply want to keep more of the money you make with your investments, this episode is packed with valuable tips and insights that you won't want to miss. Key Takeaways:[00:18] Introducing Charles Dobens[04:08] Why It's Easier to Treat Multifamily as a Business Compared to Single-Family[05:12] Ups and Downs and Lessons Learned in His Investing Journey[08:42] What is a Cap Rate?[15:43] The Five Ways to Make Money in Multifamily[18:47] Transitioning From Single-Family to Multifamily[22:16] Asset Management and Property Management[26:24] Connect With Charles Dobens Quotes: [15:34] “[What] I really loved about multifamily was no emotion involved. It's just a formula. And if the formula works, you buy the property.”[23:45] “If you set it up right the first time, and you build the systems to be constantly taking care of your clients, your investors? Yes, then you're going to have yourself a nice business.”[26:46] “I spent over $200,000, building a CRM for members of my multifamily OS program. That helps because…acquisition Management is all about finding the deal, right? 90% of the business is sales and marketing and finding the deal.”Connect with Charles and get a copy of his book, How to Get 1,000 Apartments in Five Years:Website: www.multifamilyos.comTired of living deal to deal? If you are a real estate investor or business owner who is tired of living deal to deal, and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. - David 

Real estate investing can be an incredibly lucrative venture, but success in this field doesn't come without careful planning and execution. One of the most critical aspects of successful real estate investing is building a strong foundation. Whether you're a seasoned investor or just starting out, taking the time to establish a solid base can make all the difference in your long-term success. In this episode we welcome  Charles Dobens, as we'll explore the reasons why building strong foundations in real estate investing is crucial, and provide you with practical tips to help you get started. So, if you're ready to take your real estate investments to the next level and make a bigger impact.  Charles works with students in his coaching programs to train them in the correct way to acquire, operate and own multifamily property. His legal and consulting practice has one specialty - helping new investors overcome any lack of confidence in moving toward their financial objective of owning and operating apartments. He is uniquely qualified to walk investors confidently through the entire process: analyzing property, negotiating contracts, organizing funding as well as transitioning to ownership.  Come join us and listen in![00:00- 10:27 ]• We welcome Charles Dobens to the show.• Charles Dobens and his background on how he started in real estate investing?• How 2008 impacted his real estate investing?• Why long term debt is the way to go• Real estate investors buy value.• The beauty of termed debt, and how it changes the market?  [11:30-21:41]• Why real estate investing is the greatest business in the world?• The situation on the market today makes asset managers truly shine.• Staying with the plan and Staying with the strategy.• The reason Charles got into teaching multifamily real estate investing?• Building trust with your investors is a must. Building relationship with the bankers.• What the last market crash thought him? And answering your phone matters.  [21:42 - 43:24]• Is it a market crash or a market turn?• Does investors have to get a certain cash and cash return? • Going for the markets that are slow and steady.• Asking Charles Dobens the Adventurous Four.• Bonus story with Charles Dobens!Tweetable Quotes:  " Real Estate Investing is the greatest business in the world and don't think that this is a “get-rich-quick scheme.” - Charles Dobens Connect with Charles Dobens info@multifamilyinvestingacademy.comhttps://www.multifamilyinvestingacademy.com/ https://www.linkedin.com/in/charlesdobens/ https://www.multifamilyinvestingacademy.com/youtube-feed https://multifamilyos.com    Explore more. Adventure awaits.  Please subscribe and leave an honest review  - how do you want to create an impact in your world? Check out Adventurous REI and our social media channels: Facebook, Instagram, and LinkedIn. Michael on LinkedIn Suzy on LinkedIn   Invest with us! Start here. GRAB A FREE copy of The Complete Guide to Generating Passive Income for Avid Travelers & Adventure Seekers     

Charles Dobens is an attorney and multifamily investing mentor. His legal and consulting practice has one specialty - helping new investors overcome any lack of confidence in moving toward their financial objective of owning and operating apartments. Charles works with students in his coaching programs to train them in the correct way to acquire, operate and own multifamily property. Learn More About Charles Dobens Here: Multifamily Investing Academy - https://www.multifamilyinvestingacademy.com/   Connect with the Global Investors Show, Charles Carillo and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: http://ScheduleCharles.com ◾ FREE Passive Investing Guide: http://www.HSPguide.com ◾ Join Our Weekly Email Newsletter: http://www.HSPsignup.com ◾ Passively Invest in Real Estate: http://www.InvestHSP.com ◾ Global Investors Web Page: http://GlobalInvestorsPodcast.com/

It is time to understand what it means to actively own and walk the process of having units, not just use your investments as boasting rights and career leverage. Charles Dobens, a multi-family investor, explains how he successfully built a law practice, why felt drawn to create a coaching program, and how the 2008 financial crisis paved the way for his journey. Having started his career in investment at the very bottom, Charles recalls the struggles, successes, and failures that got him to where he is today. He gives advice on how to retain your investors and manage brokers, why every business requires capital, and some free (but very useful!) coaching tips. If this episode doesn't inspire you to start taking action, get hustling, and stop being a spectator, nothing will!Key Points From This Episode:How Charles began investing in multifamily units.Why he ended up studying at law school.When he decided it was time to start investing in property (and how he did it!).The lessons Charles learned with his first investments.Why and how you can take action.‘Go big or go home' is not for everyone.How to think about the market right now.The difference between being an investor and a spectator.The impact of the 2008 financial crisis.Why you need to understand sales and marketing.Noticeable attributes or characteristics of successful investors.Advice for a person who is a GP (General Partner) with only one or two deals.Links Mentioned in Today's Episode:Charles Dobens on TwitterCharles Dobens on LinkedInMultiFamily OSOfferedVertical Street VenturesPassive Income Through Multifamily Real Estate Facebook GroupPeter Pomeroy on LinkedInPeter Pomeroy Email

A recent report from the International Monetary Fund said there is a high risk of recession. It doesn't help too that inflation is on the rise, markets are unstable, and there is still the risk of a global health crisis. That's why, as real estate investors, it's important to invest in an asset class that is very resilient. Today, we look back at our conversations with Dan Kennedy and Charles Dobens who tell us why investing in multifamily is the best way forward.Dan shares his perspectives on the expenses of single-family versus those of multifamily and why he has had more joy with the latter. Meanwhile, Charles talks about why we should still be looking for deals, even during these uncertain times. Click the play button now and find out why multifamily is a resilient investment!

Free Trial! Join the Private Money Academy: https://www.JayConner.com/trial/ Private Money Academy Conference: https://www.jayconner.com/learnrealestate/ Free Report: https://www.jayconner.com/MoneyReport In today’s show of Real Estate Investing with Jay Conner, Charles Dobens joins Jay to talk about investing in multi-family properties. Charles knows multifamily. He has done them all, no money down, syndications, master lease options, Class A through Class D properties, rehabs and repositions, foreclosures, assumptions. You name it, he has done it. Charles Dobens is an attorney and mentor to multifamily investors all around the country. He is a principal at Dobens Law and founder of the Multifamily Investing Academy. Charles works with students in his coaching programs to train them in the correct way to acquire, operate and own multifamily property. His legal and consulting practice has one specialty - helping new investors overcome any lack of confidence in moving toward their financial objective of owning and operating apartments. Charles is uniquely qualified to walk investors confidently through the entire process: analyzing a property, negotiating contracts, organizing funding as well as transitioning to ownership. He knows multifamily. He has done them all, no money down, syndications, master lease options, Class A through Class D properties, rehabs and repositions, foreclosures, assumptions. You name it, he has done it. Charles is currently in the process of liquidating his portfolio so he can start building apartments and help to solve the demand crisis. Timestamps: 0:01 - Get Ready To Be Plugged Into The Money 0:48 - Today’s guest: Charles Dobens 4:24 - How Charles Dobens Started In The Real Estate Business 7:29 - What is Triple Net Lease? 8:21 - Why Choose To Invest In Multi-Family Properties? 13:16 - How to Buy Apartments with no Money Down 15:10 - Jay’s Free Private Money Guide: https://www.JayConner.com/MoneyGuide 16:42 - What’s Happening Now In The Real Estate Market. 23:33 - What’s Your Advice To A New Real Estate Investor? 26:18 - Best Ways To Find Deals. 27:21 - What’s Your Advice For Real Estate Investors Wanting To Invest In Multi-Family Properties? 30:34 - Connect with ​Charles Dobens: https://www.MultiFamilyInvestingAcademy.com 32:29 - Charles Dobens’ parting comments: Do Not Worry About What’s Going On In The Market Place Right Now. Be Aware Of It But Don’t Let It Stop You From Getting Your Dream Of Becoming A Multi-Family Investor. Youtube Video Link: https://youtu.be/ZPLwQ1mfg1A Have you read Jay’s new book: Where to Get The Money Now? It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book Real Estate Cashflow Conference: https://www.jayconner.com/learnrealestate/ Free Webinar: http://bit.ly/jaymoneypodcast Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal. What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4wo The Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557 P 252-808-2927F 252-240-2504 Channel https://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6w https://www.youtube.com/c/RealEstateInvestingWithJayConner RSS Feed http://realestateinvestingdeals.mypodcastworld.com/rss2.xml Google Play https://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47y iTunes: https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034 Watch on ROKU: Roku https://my.roku.com/add/realestateinvestingRoku https://my.roku.com/add/realestateinvesting Watch on Amazon Prime: https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

What are the secrets to building a successful multifamily business?   In this episode, Charles Dobens joins our podcast to share his wealth of knowledge as a multifamily investor and real estate lawyer with more than 20 years in the industry. He is the founder of the Multifamily Investing Academy, which provides education and resources to aspiring multifamily property owners.   He discusses his experience during the market crash, practicing law and learning from the mistakes of his clients, and then later expanding into coaching other investors. Listen in and learn the do's and don't's straight from the multifamily mentor.     [00:01 - 04:07] Going All-in In Multifamily Charles talks about investing and why he went back to his law practice This is what he learned from being a lawyer to investors His goal for the next 10 years is to do 1000 properties with his students   [09:40 - 17:59] Market Crash and Money Matters Why did Charles and his team got caught up in the market crash? The type of financing that Charles is afraid of A problem that investors may face during a resale when the interest rate goes up Being conservative in rental increases is key Find out why he believes that the real estate space is overbuilt Charles' insight on assumptions How to take advantage of replacement reserves There's always a third party at the negotiating table Losing his earnest money and experiencing phantom leases   [18:00 - 19:52]  Adding Value As A Mentor His past mistakes help keep his clients and students away from bad deals Investing with his students' using his own money   [19:53 - 24:42] Closing Segment What Charles is curious about and looking forward to right now These are the books Charles recommends Reach out to Charles!  Links Below Final Words Tweetable Quotes “It's really not any type of financing. It's just not underwriting conservatively enough, not stressing your underwriting, such that your deal is going to survive if cap rates start to release and when interest rates start to go up. If your deal can't survive that, you might want to just sit back and wait.” - Charles Dobens “If you have to do an interest-only just to make your numbers work, and then you're going to, you know, convert in three years or so none. No, no, don't do that. You're overpaying for the property. I know you can fix anything on a multifamily deal except overpaying for the property.” - Charles Dobens -----------------------------------------------------------------------------   Connect with Charles! Check out the Multifamily Investing Academy website if you want to learn more about MultifamilyOS. Follow Charles on LinkedIn, too.   Resources Mentioned: Zelman & Associates Ready, Fire, Aim by Michael Masterson Willpower Doesn't Work by Benjamin Hardy 2030 by Mauro F. Guillen Big Shifts Ahead by John Burns, Chris Porter Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.   Facebook LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Charles Dobens  00:00 If you buy a property on an assumption, you're doing that seller a huge favor. That guy ought to be kissing your behind at the closing table to get... because one of the things about an assumption is the replacement reserves. So if this guy has been on the property for the last three to five years, and he's been banking the replacement reserves, you know, instead of using it to build up his collateral and protect the collateral, he's been banking it now he's got $100,000 in the replacement reserves.    Intro  00:31 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.     Sam Wilson  00:39 Charles Dobens is the multifamilyattorney.com, the founder of the Multifamily Investing Academy and the creator of MultifamilyOS program for entrepreneurs looking to build a successful multifamily real estate investing business. Charles, welcome to the show.   Charles Dobens  00:56 Hey, thanks for having me, man. First of all, is that a real background? Or is that one of those virtual ones? I love it. You see, when I'm in my studio, I've got the real thing too. And I go back and I grab those books off the back, because, you know, and I hold them up. So yeah, that's cool. I like it. I like it.   Sam Wilson  01:11 Thanks, man. You know, what it does, though, is that on days like today, where I walk in the office, and I set stuff on the shelf behind me? ... you don't have stacks of papers... you just reminded me that I got garbage on my shelf. Thanks for that.    Charles Dobens  01:26 Yeah, I have.... Part of my program for my students is, you know, they get a virtual assistant. And so we do a virtual assistant meet up every Monday morning just to touch base with all my VA's. And, you know, I look at their backgrounds, I think, wow, those guys live larger than I do. They have beautiful places behind them like no, they don't. But they don't...   Sam Wilson  01:44 Charles, there's three questions. I asked every guest who comes on the show: Where did you start? Where are you now? How did you get there? But tell me in less than 90 seconds.   01:52 Okay. Where did I start? Physically, geographically, I'm out here in the Boston area. Always wanted to own multifamily property, was running an insurance company, had about 35 employees, gonna put me in an early grave, hated it told my wife, I can't do this anymore. What do you want to do? I want to own apartments, went out there and started owning apartments, did incredibly well. Market crashed, kept some loss aome. That's when I started practicing law. I was a lawyer beforehand. But I was representing clients of mine, friends of mine, who are losing their property. And I realized, man, why did you buy this property in the first place? This property you'd never should have acquired because it's a dog. And then I thought, I realized that man, these people are being taught the wrong way to run multifamily, own and operate multifamily. And that's when I started coaching and mentoring. And I got to tell you, I own plenty of properties. I don't need to work. But this is my calling. I love helping people in this field with my law practice, with consulting, and I just got off the phone with one of my clients working on a deal. We're going to make an offer on a property today. I am just always involved in all my students' deals, making sure they do everything right every step of the way. And I want to buy 1000 properties for my students, meaning I want it or not 1000 units. I did that a long time ago. I want to do 1000 properties for my students over the next 10 years. And that is my goal. That's what gets me up in the morning and makes me run.   Sam Wilson  03:17 That is awesome. I love it. 1000 properties without, you know, what is that eight per month, eight and a half?   Charles Dobens  03:23 Yeah, and but the thing is, I started I've been doing this for 10 years, so I kind of a little head start on the 1000 goal. So, but you know, when I'm 82. When I hit 82 10 years from now, Sam, I want it to be, I'll be out 1000.   Sam Wilson  03:37 That's awesome. I love it.   Charles Dobens  03:39 If you do the math there, pal. 10 years from now I'm gonna be 82 that means I'm 72 today, right?   Sam Wilson  03:44 I'm with you. I'm not gonna make any comments.   Charles Dobens 03:47 I know, but what? You can't tell me I look good for 72? I mean, you should be saying... You know, what you're telling me now by not saying anything, is like... 72, yeah.   Sam Wilson  03:56 Yeah, ridden hard and put away wet, Charles. That's what I'm thinking, buddy.   Charles Dobens  03:59 That is such a Nashville expression foul.   Sam Wilson  04:03 Hey, man, I'm here in the south. And I'm in Tennessee. Tell me about this. In '08, you owned apartments. You kept some, you lost some. What happened?   Charles Dobens  04:11 Yikes. So that was how you got caught because you were able to make your debt payments all the way up until you couldn't refinance out of shorter-term debt.   Charles Dobens  04:11 Man, the market crashed. You know, the thing is we bought them all the right way. At that time. You know, it was the height of the market. We never, never missed a payment on anything in all the time that we own the property. But the cap rates were compressed to begin with. And then when the market turned when Fannie and Freddie filed bankruptcy and the world collapsed, the cap rates started to inch back up and it's back up. And that's when we, you know, when the terms were done on some of these properties, we couldn't refinance, you know, we'd have to go back and raise more money just to refinance it, and we just, you know, non-recourse loans, which is the only way to go. We just dropped them on the bank's desk and, you know, shook hands and partner friends and you know, fortunately that's one of the nice things about multifamily investing is you know, all these other single-family homes owners were losing their shirts. It's a business. And we just moved on to the next deal, so...   Charles Dobens  05:14 Right. And so, you know, that's what's going on. Now, you're looking at some of these cap rates and the compression of these cap rates and they can't compress anymore. Now we're starting to see inflation, interest rates go up, you know, and people's investment strategies right now, is only hoping the market continues to do what it's been doing for the last 10 years. And that's not going to you know, as Paul Moore says, trees don't grow to the sky. At some point, there's going to be an adjustment, and these people are going to get caught the same way I was.   Sam Wilson  05:46 Is there any type of financing that you're afraid of right now?   Charles Dobens  05:49 Oh, well, you know, you see these interest only's. And when there's no amortization, okay, that's fine. But you're seeing the interest rates starting to creep up. It's really not any type of financing. It's just not underwriting conservatively enough, not stressing your underwriting, such that your deal is going to survive if cap rates start to release and when interest rates start to go up. If your deal can't survive, that you might want to just sit back and wait.   Sam Wilson  06:17 What are you on an exit cap? What are you having people plug in as a general number right now?   Charles Dobens  06:24 Well, general number is about 10 basis points per year. So you know, if it's if you're going to hold it for five years, looking at least half a percent higher cap rate, that's a textbook, that's like just right out of the gate textbook. But what you have to think about is interest rates are going up. We already know that. Now, I see some of these gurus out saying no, that's okay. You know, you're locked in at this particular interest rate. It's not you that's going to have the problem. It's the person you have to sell the property to, right, that is the problem. And that problem is going to become yours. If they can't purchase that property at the valuation that you created your exit strategy at, you're going to lose. And you know, I tell you, I was, I don't know if you know Corneilous Cannon. And he has this event called the shark pool. And I'm one of the sharks where I evaluate other people's deals. These guys get on there and start talking about their portfolio and they're talking about this new deal coming up. And they see Yeah, we have a property in Lexington, Kentucky, blah blah, and I'm looking at on the screen. I'm looking at the properties. Wait a minute, what's that property right there? Oh, yeah, that's a property in Lexington. I said, Oh, and then the guy goes out and say, Well, yeah, we've really stressed it. But we don't feel as though interest rates will climb so much. That'll really devastate the property. We still think everything's gonna be fine. And I said, I just felt like the old guy. Okay, let me tell you a story. I said, back in 2008, a month before Fannie and Freddie went bankrupt. I purchased a 222-unit apartment complex in Lexington, Kentucky. And right away, Sam, you can see the both of their eyes, like bugged out, because they knew I'm talking about their property. I said, and they said to you buy Preakness, I said, I own that property right before it crashed. Nobody saw anything coming. I had to give that property back to the bank. And as I'm on the call the shark pool with them, I'm pulling up the costar report. And you can clearly see, I bought it for seven and a half million, gave it back to the bank, they sold it to somebody for 3 million a year later, that guy sold it to these guys like three years later for 7 million. So that guy between me and them walked away with 4 million bucks in the bank because he was patient, and he waited. And sometimes, you know, I look at that deal of like I lost my shirt on that deal. And this guy made 4 million bucks. It's crazy.   Sam Wilson  08:43 What were those buyers other than paying 7 million bucks for, what are the things that did not take into account besides rising interest rates?   Charles Dobens  08:52 Oh, wait, those people, the people that were on the shark pool? Well, oh, I don't know, when they bought it for the 7 million they could have bought it... If they bought it three years ago, four years ago, bravo. They're gonna make a killing on that property, good for them. But you know, if they bought it last week, they might have been paying top dollar for it and interest rates are on the climb. And you know, Lexington, Lexington is a good market, but it's, you know, a secondary, tertiary market. And so we got to sit back and wait, I hope they have a long... what you have to do. Okay, so getting back to your question about what the problem with loans today, the only thing that I would be very leery about whenever I'm looking at getting into any type of financing today is you need a longer-term than usual. Don't bring me a three or five-year deal. I'm not interested. You know, not only that, but some of the investors that I work with aren't interested either because they're looking for places to park their money right now to take advantage of what's going to happen with inflation.   Sam Wilson  09:45 Right. And I guess that would eliminate you, you know, from the ever very popular bridge debt that people are using right now.   Charles Dobens  09:52 Yeah, you know, but that's okay. Bridge debts. Okay. If it's a true value add if you're just trying to do bridge debt just to get into the deal. No, no, no, no, that's not the way to do this. I mean, if you have to do an interest-only just to make your numbers work, and then you're going to, you know, convert in three years or so none No, no, don't do that you're overpaying for the property. I know you can fix anything on a multifamily deal except overpaying for the property. So just don't do it. You're better off walking away, waiting a couple of years and picking up that type of property on when somebody else loses their shirt on it.   Sam Wilson  10:24 Yeah, which may yet happen other than putting in a 10 basis points a year what you said is just a bare minimum as an increase in the exit cap rate. What other things are you guys underwriting? What things are you doing? You feel like you're unique that your underwriting, they're kind of keeping you guys out of potential hot water?   Charles Dobens  10:40 You know, one of the things is being a lot more conservative on the rental increases, I'm going to sticking around to 3% is going to be the top number. You know, and if you listened, I did a podcast with Ivy Zelman. The woman is brilliant. She saw the 2008 crash coming. I had her on my podcast, I said it you know, this is different than 2000. And we're not going to have the same problems we had back in 2008. And I said it's you know, we have much more sound underwriting, the demand for our product is so high. And then she just kind of laid me flat which says we are already overbuilt. And I said I'd be Wait, what Whoa. I mean, I've got a waiting lists. You look at all these properties, 100% occupancy. This is a note we are already overbuilt. If you go look at all the starts that are on paper that are supposed to happen in the next three years. It exceeds demand. And we are already overbuilt. And like wow, okay. That's interesting. And yeah, so she kind of like laid me flat with some of the statistics that she had Zelman associates.com. And, yeah, it just hurt what she said made me open up my eyes. And one thing that she said, Sam, that just as a.... she says, all of these homes, there's high demand for homes where you know, you're bidding way over price. The reason why this is happening is many of these home purchases are not first home buyers, or first homeowners, meaning these are their second homes, and sometimes their third homes. And so these people are buying homes now, they own three homes, and I own three homes sitting there listening to tell me the story. And I'm thinking to myself, Wow, and when the market changes, when interest rates go up, when things started to tighten up, you're gonna see people starting to dump those second and third homes to protect themselves. And that's when it's going to come really home to roost.   Sam Wilson  12:23 Right? Yeah. When the market gets flooded with inventory. Yeah, back to the old days, supply and demand, it's gonna hurt us all. So absolutely. Tell me about a time or money mistake you've made? Or maybe it cost you both time and money.   Charles Dobens  12:38 Okay, let me see. So many of them. But you know, one thing that I found out the hard way early on in my multifamily world, was how assumptions work. If you buy a property on an assumption, you're doing that seller a huge favor, that guy ought to be kissing your behind at the closing table to get... because one of the things about an assumption is the replacement reserves. So if this guy has been on the property for last three to five years, and he's been banking the replacement reserves, you know, instead of using it to build up his collateral and protect the collateral, he's been banking it, now he's got $100,000 in the replacement reserves. Do you know what happens that money at the closing table?   Sam Wilson  13:26 Becomes his.    Charles Dobens  13:27 It's his. And you know, what you have to do?    Sam Wilson  13:29 Put in the replacement reserves.   Charles Dobens  13:31 That just... if you were doing a new money purchase, would you have to do that? No, you wouldn't have to come up with another $100,000. On day one, just because this guy didn't spend a dime on his property for the last five years. That's crazy. So I make sure now in all my letters of intent, that one of the things if it's an assumption is the seller has to spend that reserve down to zero or transferred to me at closing. That's the number one thing. And the other thing too is. The problem with assumptions is when you're negotiating an assumption, there's always a third party at the negotiating table. And sometimes that third party is silent, right up until the closing date. So on one assumption that I did I negotiated was 12% down. All I had to come up with was 12%. And that, what a great negotiator, I am looking at me go. And my returns were phenomenal. Two weeks before closing, the bank comes back and says, Hey, we noticed that you're putting only 12% down, that's not going to work for us. You need to put more skin in the game, you need to put down 20%. And I was like, Well, how can I do that? I've got a contract. I've got a purchase price. You've got a fixed mortgage amount. The difference is only 12%. Where do you expect me to put this 8%? They said, great question. You know what we are, we're a bank. And you're going to put it with us. And you are let it sit there and it's just going to sit there you can't spend on the property. We just want that there. And so I had to come up with an additional eight percent two weeks before the closing, I lose my earnest money. And that was, you know, had I known, if I had to do the assumption, if I didn't have to do the assumption, everything would have been fine. But because I had to do the assumption, I had to come up with that extra money that just sat in a bank account, I mean, it just killed the cash on cash return, because it's additional money in with no return on it. And it was a terrible deal. And the other thing, too, is, you know, so now I have a provision to protect myself in my off LOIs, that state, if the bank changes any of the economic terms, I get to walk, right, here's the thing about this, Sam, is that you go back and you read any contract with a bank, any mortgage, and any note, it clearly states the deal will be is assumable with no change in the economic terms, it says that right there. But you know who the third party is at the table? It's a bank and banks change contracts every time, anytime they want. So that's something that I found out very early on, and that cost me a lot of money. It killed the deal for me. Yeah. So that lay on top of that. Oh, here's another one. Let me give you another one. Same deal. And because this assumption went on for five months, the bank just dragged their feet. It was Wachovia. Okay, do you remember the nickname from Wachovia? No, walk all over? You walk all over you? Yeah, right. That's why they're no longer in business. So it took them forever. But here's the mistake I made early on in a contract is that I was only allowed to inspect the property in the first 30 days. After that, I'm done. I can't inspect it anymore. So for the next four months, whatever happened on that property, I couldn't go on and see it. So now my contract, say, Hey, I got to see it right up until the end, right after the closing date, I can get in there. And so we kept getting from him certified rent rolls, showing that the property was 96% occupied right up until the closing date. 30 days later, I'm calling up my property management company screaming saying, Hey, guys, you gotta go knock on doors, you've only collected 50%of  the rents this month, I need more. He goes, Charlie, there's no money left to collect from I said, No, there was 96% occupancy when we took over Charlie, I've never seen a case of fraud so badly in my life. And I said, Wait a minute, you can't just throw out the term fraud, you got to give me some evidence. He said, Charlie, I found the evidence for you. And they faxed me over eight leases. And these eight leases, you could tell that the previous property management company had taken these leases and just photocopied them, because the same white out was in the same place on all eight, and three of the eight, they forgot to change the name of the property for my property. And it was the name of a property that the owner owned down the street. So that was a perfect example of phantom leases. The property never recovered. That was a disaster. So yeah, thanks for bringing that back up. Sam, I really appreciate you making me walk down that memory lane, buddy.   Sam Wilson  18:00 You know, but those are the things that I think there was a value in having a mentor having a coach having someone looking over your shoulder doing this. I don't know how many hundreds of 1000s or millions that may have cost you. But it's that one mistake that I think that's all you need when you bring somebody like yourself on board to say, Hey, buddy, don't do that.   Charles Dobens  18:20 Yeah, absolutely. As Bill Gates: success is a lousy teacher. And if I'm able to keep my clients, my students out of bad deals, and they do everything right. And, you know, part of what I do with my students is I remove the exuberance from the decision making, you know, they're all excited to read that oh, well, let's do this is gonna be right as it now this one's a bad deal. No, you don't understand. Oh, yes, I do. Oh, yes, you know, so that's the key.   Sam Wilson  18:49 Right. And so on that front, are you strictly doing, you know, the coaching and helping your students? Are you also an active investor yourself?   Charles Dobens  18:57 Oh, yeah, I'm an active investor. But the thing is that I invest my students' deals, but I use my own money. I don't cut a deal where, you know, like, if I, you know, you hire me on I keep a certain percentage of the deals that I do for your No, no, that one could get me in big trouble with the bar association because even though I'm not their attorney, I still have to, you know, live by the canon of ethics of a lawyer. And if I can't give objective, legal advice or advice, if they know that the advice I'm giving them is contingent upon whether I'm going to get paid or not, then you know, any advice I give is construed, could be construed as bad advice, because it's not objective. I have to always remain objective, arm's length. So I but I do invest in some my students deals, I see some good ones. And I definitely want to get my money in on those deals. So yeah.   Sam Wilson  19:45 For sure, I mean, that's the two things that this industry revolves around, deals and money, and, you know, when you find a good deal, it's time to get in. What's something you're curious about right now?   Charles Dobens  19:55 Oh, you know, I guess the thing that I'm most curious about is the future are, you know, I'm excited about I love that... Dan Sullivan has a saying he says old is your desire for days in the past is greater than your desire for days in the future. And I think about when the doctor came in and told my dad at 82 years old that he was you know, he had like 24 hours left. His first reaction was, darn it. I just wanted 10 more years. And I like man, that's the attitude I want to have on my deathbed. I was like, Man, I just want to keep going. I'm having too much fun. So I'm curious about the future. I'm so looking forward to it. You know, whatever God gives you. I love that saying the first casualty of 911. from the floor, Fire Department in New York. The first firefighter was the chaplain. I mean, this is how they're saying it. He was hit by debris. And they said, you know, on his eulogy, they said, he said, You want to make God laugh. Tell him what you're going to do tomorrow. Yeah.   Sam Wilson  20:52 Right. Yeah, that's pretty good. I love it. Tell me a book you're reading right now.   Charles Dobens  20:56 I'm reading so many of them. So I do audible. I have Book of the Month Club for my students. We're having it this past coming up. It's an oldie but a goodie. It's Ready, Fire, Aim by Michael Masterson. And it's, I tell you that one is... I watched so many... I teach my students that multifamily is a sales and marketing business. And I set them up with a CRM with 1000 properties in it in their marketplace, I set them up with a VA, I give them all the tools to be a success. But they have to understand that if they don't realize that their job is sales and marketing, they'll never make it in this business. And the whole thing that Michael Masterson talks about is, you know, so many new entrepreneurs are so concerned about their website, about the logo, about the business cards, and they never think about who the customers. And so that is from Ready, Fire, Aim. That's that one I just did right now willpower, and what's the one on willpower by Benjamin Hardy can't remember the full title. But that's a good one. That one teaches you that willpower has less to do about you than it does about the environment that you're in. So set yourself up in an environment that you can achieve success. Another great one that I'm doing is Mauro Guillén, this one... You hear me talking about multiple books, I'm switching at Audible all the time going back and forth, especially because you take a book like 2030 by Mauro Guillén, this is like the follow up to Big Shifts Ahead, which is another great book, but Big Shifts Ahead was written from for the period about 2015 to 2025, talking about what's going on in the marketplace, I had that that author on my podcast as well. So obviously, we're coming up to 2025, the next book behind is 2030. And the thing that he says in that book, which I so agree with, is that the definition of an entrepreneur is virtually the exact same definition as an immigrant, when you look at the two that I mean, that's why for this country to survive, with all the trillions that we're spending, the only way we're able to survive this ridiculous spending program from our government. The only way is by bringing on having a very exuberant immigration policy, bringing in the best and the brightest from around the world. That's the only way this country is going to survive. Otherwise, we're just going to implode I can keep going, man, I got so many great books. I'm always grabbing you know, little kernels out of them. But those are the three that this so far this week I've already been into.   Sam Wilson  23:18 Absolutely love it. Charles, thank you for your time today. I've had an absolute blast learning how you coach your students, you taking the time to really, you know, tell us the hard learned, hard earned mistakes, what those have taught you, and how not to repeat them. You know, you've given us obviously some great reading material there and yeah, man, I've certainly really enjoyed this conversation so...   Charles Dobens  23:41 So did I get a shirt? Did I qualify for a shirt?    Sam Wilson  23:43 You did.   Charles Dobens  23:49 I bet you you look awesome.   Sam Wilson  23:53 Charles, if our listeners want to get in touch with you, what is the best way to do that?   Charles Dobens  23:56 mutifamilyos.com, Multifamily Operating System but the website is multifamily os.com tracked me down there and we can chat more or multifamilyinvestingacademy.com. That's the parent agency of the multifamily OS program. And the best way to get a hold of me.   Sam Wilson  24:12  Awesome, Charles, thanks for your time. I appreciate it.    Charles Dobens  24:15 Thanks, Sam. Good to see you, man.    Sam Wilson  24:16 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.

Winning your first deal is most critical. Usually, 90% of the iceberg's underwater, and you're building the foundation to get to that first deal, and once you get there, you get on the rocket ship, and it's going to be super exciting. In this 2-part episode, we talk about the first three steps to give you that boost to go after deals which will lead you to get started in deal-finding mode. WHAT YOU'LL LEARN FROM THIS EPISODEThe law of the 1st deal3 steps to winning your 1st dealWhy do you need a “credibility kit”?Measures of success and metrics to consider when picking a market to invest in Different ways to find dealsRESOURCES/LINKS MENTIONEDMichael Blank's The Law of Your First Deal - Secret to Financial Freedom with Real Estate https://www.youtube.com/watch?v=yz8uN79fx3UJoe Fairless https://joefairless.com/Jake & Gino https://jakeandgino.com/Dealmaker Live Event https://dealmakerliveevent.com/Rod Khleif https://rodkhleif.com/Charles Dobens https://www.multifamilyinvestingacademy.com/Corey Peterson https://kahunawealthbuilders.com/Episode 79: Neal Bawa – The HOTTEST 5 Apartment Markets https://podcasts.apple.com/us/podcast/episode-79-neal-bawa-the-hottest-5-apartment-markets/id1500967265?i=1000551384558Multifamily University https://multifamilyu.com/CBRE https://www.cbre.com/Marcus & Millichap https://www.marcusmillichap.com/ABOUT CHELSEA GARBERChelsea Garber is a Multifamily Real Estate Investor, Syndicator & Entrepreneur with extensive knowledge in design, architecture, construction, and project management. Chelsea is a partner/acquisition specialist at GreenLight Equity Group and focuses on acquiring value add commercial apartment buildings in emerging markets,. Additionally, she is the founder of ROI ByDesign, a value-enhancing design & remodeling firm tailored to multifamily investment properties within all asset classes.CONNECT WITH CHELSEAWebsite: http://www.roi-bydesign.comInstagram: https://www.instagram.com/roibydesign/Facebook: https://www.facebook.com/roibydesign; https://www.facebook.com/TheChelseaGarberLinkedIn: https://www.linkedin.com/in/chelsea-garber/CONNECT WITH USGreen Light Equity Group - http://www.investwithgreenlight.com/For a list of Virtual Meetups - Email:tate@glequitygroup.com | chelsea@glequitygroup.com Special Announcement! Tate's brand-new audiobook "F.I.R.E.-Financial Independence Retire Early Through Apartment Investing" is downloadable! Go to: Green Light Equity Group: http://www.investwithgreenlight.com/