David Lindahl - Multi-family millions : how anyone can reposition apartments for big profits

Contents

Copyright 2008 by DCL Carlsberg LLC. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Lindahl, David.

Multi-family millions: how anyone can reposition apartments for big profits/David Lindahl.

p. cm.

Includes index.

ISBN 978-0-470-26760-8 (cloth)

1. Rental housingUnited States. 2. Apartment housesUnited States. 3. Real estate investmentUnited States. 4. Rental housing. 5. Apartment houses. 6. Real estate investment. I. Title.

HD1394.5.U6L56 2008

333.338dc22

2007052400

Praise for Multi-Family Millions

If I didnt know better, Id say Dave Lindahl has a degree in psychology.

This book shows you how to get inside the heads of real estate brokers, sellers, tenants, and buyers. When you follow Daves advice in this book, your deals will become irresistibly attractive to the people youre negotiating with. Well done!

Bill Bartmann, named One of the Top 100 Entrepreneurs of the Last 100 Years by the Kauffman Center for Entrepreneurial Leadership ( www.BillBartmann.com )

Lets get real: There are hordes of real estate investors out there. These days the chances are slim of finding a deal with fat, obvious profits.

Thats where this book is so crucial: Dave Lindahl shows you how to uncover the deals with fat, hidden profits that your competition will walk right by.

Jeff Adams, President, www.RealEstateWebProfits.com

No theory here! Daves book is filled with the practical steps you need to go from where you are to landing your first major deal. It just doesnt get more connect the dots than this.

Stacy Kellams, President, www.RealEstateCourseReviews.com

So many books are just a bunch of vague generalities. Not the book youre holding in your hands: Dave Lindahl details the numbers investors need to get comfortable: specific ratios, rules of thumb, and tons of concrete examples. Add in Daves easy-to-understand conversational style, and you have a winner.

Wendy Patton, best-selling author of Investing in Real Estate with Lease Options & Subject Tos and Making Hard Cash in a Soft Real Estate Market ( www.WendyPatton.com )

Dave Lindahl delivers the goods again. This step-by-step book shows you how to find almost secret deals with big hidden profits, and you wont even have any competition. It just doesnt get better than that!

J. P. Vaughan, publisher, Creative Real Estate Online ( www.creonline.com )

To the memory of my grandmother, Mabel Bowser, who, after the loss of her husband Fred Bowser just two years after opening the Old Town Fish Market in 1950, raised four teenage daughters and a late-in-life baby boy while keeping that business operating well into the 1980s.

The lessons that my mother, aunts, uncle, cousins, and I learned while doing our time at that fish market left a legacy of family first and hard work for generations of Bowsers to come.

Acknowledgments

Id like to acknowledge Jon Rozek for his infinite wisdom and tireless work ethic in getting this book written. Readers have Jon to thank for its existence. When I was first offered the project by Richard Narramore, Senior Editor at John Wiley & Sons, I originally planned to turn it down due to time constraints. Jon showed me the importance of getting this information into the hands of the public.

To my mother and father, Carl and Barbara Lindahl, who give their endless support on an ongoing basis and whose company I enjoy thoroughly.

Id like to thank Jeff Lindahl, Daniel Lindahl, Tammy Beckwith, and Robert Campbell for their tireless support and work ethic. Without their efforts behind the scenes, this project could not have been completed.

To Justin Meszaros, fellow principal of the Bostonian Investment Group, of which he is CEO, and LMW Management, for being the engine behind the phenomenal growth that we have experienced in the past few years.

Id like to acknowledge Barry Weaver, President of LMW Management, for bringing his incredible industry knowledge and systemization to our growing real estate portfolio and using his expertise on a regular basis to keep our assets performing at their peak.

To Joan Lindahl, Chris Bowser, Jeannie Orlowski, Beth King, Jennifer Crawford, Debbie Marino, Patricia McKenna, Jill Emond, Amanda Elwood, Kim Diamond-Santo, Jim DeRito, Elise Keane, Lisa McCarthy, Amy Londraville, and Doug Curley for being the pistons that keep the flow of business coursing through the Lindahl Companies on a regular basis.

To my nephews and nieces, Patrick Lindahl, Collette Lindahl, Nicholas Beckwith, Andrew Beckwith, Jacob Lindahl, Jonathan Lindahl, Kyle Lindahl, and Shannon Lindahl, for filling my life with endless pleasure. It will be exciting to share each and every one of your successes as you grow into this world.

Finally, I am deeply grateful to all of the RE Mentor seminar attendees, support staff, and joint venture partners. Without you, there would be no life-changing seminars.

Congratulations. Youre now reading a book that can change the way you think and invest in real estate. And its a change for the better, because there are big profits awaiting the action-takers who follow the steps inside this book.

I must warn you: Im a contrarian. If youre looking to get the same old advice from this book that will reinforce all the other things youve heard about real estate, I will disappoint you.

Are you also a contrarian? If you are, youll understand what I mean when I say that it can sometimes be scary to zig when everyone else is zagging .