How to Buy Your First Apartment Complex (Step-By-Step)

Chandler David Smith just bought another apartment complex! In this video, he shares everything that you need to know to purchase, finance, and manage an apartment complex as a profitable investment. He shares why it is better to use a loan even if you have the cash to purchase the building outright. He also shares how you should not just take any loan, but you should prepare your credit to be able to negotiate a good deal, but also not take the first one that comes, because there are pro's and con's to different loans and lenders. Once you build a good relationship with your lender, you can explain everything about the deal, so you can get the best loan for the property.
Chandler also shares his criteria and checklist for choosing the best apartment to buy. Look for a property that has good cashflow and good appreciation. Always do a thorough inspection.
Make sure you watch this video until the end to get the answer to all of the following questions:
Are apartments good investments?
Is buying apartment buildings ethical?
Best questions to ask when buying apartment buildings?
What to look for when buying apartment?
How buying an apartment works?
Why buying an apartment complex is NOT a bad idea?
What should you know before buying an apartment?
How to negotiate buying apartment building?
How to get a great deal when buying an apartment building?
How to finance an apartment building?
Then you NEED to watch this video!
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www.elitesummersales.com/
If you're interested in learning more about real estate investing, and you'd like to have one-on-one mentorship go to:
www.chandlerdavidsmith.com/
Check out some other videos if you want to learn more about investing in real estate, building a huge passive income, or preparing for your own future home.
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[@dianesullivan5338]

I remember 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@JosephineKenney]

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

[@HildaBennet]

The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.

[@PennyBergeron-os4ch]

How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.

[@HildaBennet]

Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.

[@PennyBergeron-os4ch]

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

[@williamlackey123]

Chandler, I turned a flip into a duplex saved all cash flow and , put into a 4-plex. My wife and I are looking to buy our first apartment complex this year. I can’t thank you enough for sharing your knowledge for free!!! My parents didn’t have any college degrees or own businesses. I did this myself- thanks to guys like yourself who educate us lil fish for FREE!!! 💜💪💯

[@anotidaishechikunya2234]

omg please teach me!

[@polocs2307]

your story inspires me as a young adult

[@superdavestudentrentals5951]

This was a great introduction to buying apartments. Being prepared to talk to these commercial lenders about deals before going in has been huge for me in my career and I wish someone had told me when I was starting out. Thanks for the video!

[@berwickperu7683]

Maybe we’re crazy but after getting eight offers on our home, we refused to sell to the arrogant cash offer highest bidder and sold to the young couple who wanted a safe place to raise their family.

[@kellyhoang1483]

Good on you!!! That's great that you recognized a 'real' win-win situation and made a difference in the new buyers life.

[@carlterry9686]

I plan to do the same when I sell my home. Greed can make us forget our humanity.

[@tylerroger1636]

I need some guidance please. Lately I've been considering buying dividends stocks for retirement, I have set asides $400k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing.

[@leemarty2765]

@@tylerroger1636 😍😍😍Rosemary Carlson is there to guiding you through. She was the reason why I got into TESLA digital currencies. She’s quite popular on line, just look her up 🆙

[@stricklandpilman2123]

@@leemarty2765 I'm grateful to my broker Jennifer Elizabeth Boland, she was the best and still the best brokerage in Florida. I had less to worry about. Just look up the name you will find her info.

[@ryanshroyer5146]

The amount of value in this video is incredible! Thanks so much Chandler 💪🏽

[@RagnarLothbrok2222]

Man, the treasure valley market is BRUTAL. Insane appreciation. Hard to cashflow. Love your material bro!

[@tcironbear21]

Wow, tangible advice with no hyping and sales pitches. Just straight to the point.

[@i.a.m.7344]

You really did a good job explaining this. It really helped me understand a lot more of what goes into buying properties.

[@prestonstewart4573]

Don’t have any properties yet. My goal is to get into real estate investing, my goal is to buy my first property this year. But I’m still watching videos like this cause it’s so fascinating lol.

[@seanshoemaker6685]

Love your videos! Great practical advice, side note, d2d is where it’s at! Helped me start too.

[@AppleAbston]

I need to play this a few more times! Thanks ❤

[@luvslogistics1725]

I subscribed. I’m a military officer, own two homes, was planning on buying 1-2 more before retiring for cash flow. One bought $175k is worth $350k now (Atl), new construction in Fl. already appraised at $265k at closing (bought for $248). I think I’ll sell them for down payment on a residential building. Was looking at quads but I think 24 units is better…and then make an LLC, and keep buying buildings. I think once u have one, you can keep justifying loans off income flow.

[@jamonhughes8455]

How could you justify cash flow on two mortgages with a low officer salary?

[@luvslogistics1725]

@@jamonhughes8455 I’m a Major. I don’t have any vices (smoking, gambling, drinking) or pets. I also bought inexpensive single level new construction homes. I saved up my 12-month Afghanistan deployment earnings, used it on first house. A lot of military dabble in real-estate and often use VA loan to do so.

[@platano3000x]

@@jamonhughes8455 instead of asking about his military salary why dont u just ask for advice on how can u do it geeeezzz!

[@platano3000x]

@@luvslogistics1725 luvs do u have a basement where i can live?

[@luvslogistics1725]

@@jamonhughes8455 I recommend fee simple new construction single family 3/2 single level homes as cheap as possible. You can do FHA loans, in some states apply for homestead exemption for property tax. The 1% rule is ideally your prop rents for 1% of mortgage. So avoid HOA when able.

[@roberttanko8250]

Good information and I look forward to getting into this space

[@chakits1]

Great content

[@ChandlerDavidSmith]

Thanks man! Miss ya!!

[@BackwardsR3LLIK]

You should make a video on shopping for a management company.

[@davidbaugh4545]

Sick man. Great advice and very clearly said.

[@zc3303]

Glad I watched this video.. I'm in the process now.. And I'll take your advice... Put down a fourth and spread the rest elsewhere... I'm nervous but being getting tons of advice before I make a move thanks maan

[@bigxrecords7375]

As a maintenance guy, I wanna buy a complex cause I’ll be able to do all the work myself and save on the maintenance so I feel it would be very profitable for me

[@mikejr1152]

Wishing you and the family well 🙏🏽 an best holiday wishes to you *Chan Man*

[@gametimeracing]

I own one single family rental unit it’s cash flowing very well but I’m just starting out Plan to buy more thanks for the content

[@byronrich2780]

Your doing gods work

[@DNL82]

Thanks, for sharing

[@10baggerog98]

this channel is underated

[@VINTAGE-AMERICANA]

Great video. Great channel

[@KidCity1985]

Love this guy!

[@casandracastillo4545]

Thanks again

[@nathanielcradle-yourrichfriend]

Chandler, have you thought about purchasing land and building on it? I’ve been looking into construction loans, architects, contractors…etc, and locking up a deal.

[@investinmyself253]

Great video, I have 5 Single family homes and thinking about getting an apartment complex. thank you for the video.

[@comerpickles9485]

How'd you get those single family homes? I'm trying to invest in some but have no clue where to start. No solid down payment. I don't even know if my credit score suffices. So many questions

[@elliehoughton6684]

Very cool thanks 🔥☺

[@kendrick4l511]

My girl needed a bank statements and stub last week and I was worried about her loosing her not getting her new apartment 😴 but everything good now only because of deelscafe good work 👍

[@jenniferwilliams1559]

thanks really appreciate this comment i was a lil nervous tho thought it was some scheme online but he really legit .

[@NotFarFromGaming]

Im 23 with 1 single family rental, i plan on buying a duplex later this year!

[@ChandlerDavidSmith]

Let’s goooo

[@fisofisoahlam1907]

Thanks for all the tips. I've been thinking of buying some apartments but I have no idea of what is like to deal with all the stuff that you've mentioned. By the way I'm from New Zealand.👍

[@MonaHarrisVlog]

When you listed Apt complexes I said out loud “ Well, got d@mn”🤣🤣🤣 I love it here. ❤️

[@onhiswayTREI]

Thank you 🙏🏿

[@goodmoodchillin]

Thank you🤜🤛👍

[@valentinlozoyau2732]

Thank u God bless you

[@kaylaprater8641]

After I graduate I plan on buying my first apartment complex! This was very insightful!

[@lyleandkennedy4996]

Good vid bud.

[@jghmolina]

Chandler, question: you buy multi-family and usually fix/rehab the exterior ... do you ever rehab the inside of each unit? When the tenants move out, that's when you do a nice rehab on the units? Or you just do light touches then? And how do you acct for that in your calculations? You use the cashflow to pay for those?

[@mccallanger6734]

Have you done a Syndication before Chandler? That would be a great explanitory video

[@carloslopez6675]

hey chandler I’m 21 years of age and I’m looking forward to buying my first duplex very soon in the next 6 months or so I love all the videos you put out 👍🏼

[@thatredcam]

Nice, may I ask what you do for a living at the age of 21 to afford a duplex ?

[@ashog1426]

Kudos 👏

[@ashog1426]

@@thatredcam street pharmacy?

[@Sesamestreet9080]

@@thatredcam probably lots of work and saving up money. Plus he is probably single and no kids. From his last name he is Hispanic lots of parents usually let their kids stay if they work and bring stuff to the table

[@carloslopez6675]

@@thatredcam yeah man I am a electrician Monday-Friday and a server Saturday-Sunday just saving 80 percent of my earnings. Trying to build passive income

[@esuwara7148]

are happy, may God bless him.

[@calcalmaster11godsonsun6]

Damn you doin yo shit motivation you my new competition

[@PaceMorby]

Youre handsome! Good stuff bro.

[@4thekulture616]

Good info. What market are you in?

[@CadenLeno]

Super motivational Chandler. I just locked up my first tenant in my first rental property. Looking forward to learning more from you!

[@barefootandindependent]

hahahaha

[@socialclubmusic_]

Phrasing ! Lol . Hopefully the tenant has the key ?! 😂😂

[@CadenLeno]

@@socialclubmusic_ Lol I literally just realized how that sounded smh..

[@BadForYourKidneys]

@@CadenLeno 😂😂 let him out for air man

[@CadenLeno]

@@BadForYourKidneys I'm desperate for CASH FLOW!! lol

[@maritestaylor8458]

Awesome 😎

[@upMETHOD]

I appreciate your videos on apartments... I'm all in on single family property right now but I'm actively searching for either and apartment complex or a mobile home park, good deals are hard to come by in my area.

[@brennonthompson835]

Wouldn’t recommend mobile home park

[@avdilluma1652]

Mobile home park? Why

[@brennonthompson835]

@@avdilluma1652 since it is a mobile home park you will not get as high of income, no appreciation only depreciation

[@avdilluma1652]

@@brennonthompson835 ah okay. Another question for you is I don’t have the deal yet but I do have a private money lender that will act as a bank to me, but what kind of returns should I propose to him?

[@brennonthompson835]

@@avdilluma1652 I would love to answer but there are too many variables that I don’t know

[@staticunion9508]

I WILL OWN multiple 100 unit up apartment complex in my future

[@tyshawnguyton4610]

Perfect I’m 20 look at buying a quad plex this year to house hack

[@richardlewis7555]

Tools of the Titans a great book

[@jamescc2010]

What different ways can we get money to do rehab?

[@thatawesometrucker]

Do you offer any classes or possibly do any one on one courses?

[@Greggsberdard]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@Keylanb]

Most underrated channel on this platform

[@ChandlerDavidSmith]

Thank you!!

[@Jim_Briggs]

I've been looking at buying a duplex for my first property. My credit isn't the greatest. With the cost of the duplex and the current rental market, it's a no-brainer. So I've been working on trying to figure out away to secure a loan for the property.

[@marisastoneobrien7834]

Work on increasing your credit score. That can generally be done in just a few short months, depending on what is on it. You only need a 630 credit score to buy a duplex with an FHA loan. There are other benefits too.

[@Jim_Briggs]

@@marisastoneobrien7834 I'm actively working on getting my credit score up enough to make something happen.

[@thelexyshow]

What state are you purchasing in?

[@comerpickles9485]

Likewise. I'm not sure where to start. My credit score is above 630 but how am I going to be able to provide a down payment *that* massive such as $250k down on a duplex.

[@taylorsessions4143]

@@comerpickles9485 perhaps you have some money coming on with this tax return coming soon? Otherwise, you have to find a way to save it up. Remember that when you are buying, you live in the home for the month and then pay for it, where as when you are renting you pay for the month at the beginning. This means that if you buy in the middle of next month, your first payment is going to be a month and a half away. That allows you to collect your first month of rent and deposit before you ever even need to make a payment.

[@gloriaramirez3721]

When you talk about building a good relashionship with the bank do you mean using the same bank all the time or the same loan officer?

[@ellenl6376]

How do you name your business and what should I name it if I want to do a multitude of things

[@chestydevildonut6550]

Did you buy them right out or did you go through the bank?

[@cactusaviator]

With all those properties, do you use a property management company? That’s a lot of units.

[@breannafaye6466]

Curious what your rates are now in the current market?

[@randomgreatness2489]

Hey Chandler, with a totally different real estate market now, how would you go about buying an apartment now or would you not buy at all?

[@jgg204]

The issue now, is that people are paying whatever the seller wants just to place money and get the property

[@DoctorEiriny]

What do you mean when you say wholesaler?

[@ASH-se6kr]

I’m interesting in buying condo in bronx NYC but i would like to know what the average maintenances fee monthly and what is the average condo rent if I rent it ? I wanna calculate how much I can make monthly profit , thx

[@jeffdorris5321]

Lets go ✨✨

[@keshceia]

PSA : It also works if u have a VERY GOOD credit score and need inquiries, collection accounts, charge offs or debt etc removed .........

[@GuapMillz]

What’s is an AM?

[@kapil_dev_9313]

They stated on each case that I had an eviction although I’ve paid the

[@gabrielREI1]

chandler amazing vid man. also wondering, you mentioned your cds calc is free obv on mobile devices. how about the excel sheet you mentioned that was available to download on your site. it said you either need to purchase the product or sign in, cant sign in I'm assuming i have to be a member.

[@ChandlerDavidSmith]

You can request the spreadsheet on the main page of the website yes just plug in your email and it sent it to you

[@gabrielREI1]

@@ChandlerDavidSmith your goated thanks, just got it

[@kelleyspero7322]

Do you have to have your LLC in the same state you are buying and holding?? Or Can my LLC be in a different state? Thank you so much for the content and info!

[@JP-vz8gs]

Ask your attorney, usually you get an LLC in the state of the asset

[@WoodUCreate]

8 plex, $20k, that's pretty low. Assuming you're getting it at that rate and will be making improvements so that you're cash flowing better?

[@trentcalson105]

Thanks Credible cyber

[@tayyabkolby6477]

Hmm

[@christiancalderon3821]

What is the name of bank? What is the website for searching for 8units or 32?

[@grantr1556]

How about build to rent?

[@chef_jim2568]

Thank you for the advice Mr Hannibal Lecter

[@timelessceo]

What’s the purpose of a title company

[@PaulyReact]

As aperson whos making 40k+ a year. What do you think of me getting an 20 to 30 unite apartment complex?

[@ahmadboxlife8847]

Can you get a loan with 0% interest if you put down 50% down payment or more?

[@ashog1426]

Subbed

[@brandonschieman2902]

Just curious...why wouldn’t you just hire a commercial mortgage broker with established relationships to shop all the lenders? Love the vids!

[@aaronyoder121]

Extra cost?

[@JP-vz8gs]

What you pay in cost is made up in time savings and potentially better deals and terms.

[@chrisnelson5877]

Have you heard of Ben Mallah? That guy is wild.

[@angelo-001]

Confused, your “market” goes up 10-15%/year, but is that SFR? Isn’t multifamily value based current rents collected? Also, C+ property AND great appreciation? This is Lala land

[@demetriusnickens6803]

Look at apartments the are willing to sell how do I do this

[@1994haphuong]

What to do when most of the deals nowadays have been quite overpriced?

[@reybigdreams1618]

Hi Chandler, I was going to buy a tri-plex, but I ended up starting a repair center business. I have an LLC, but not a stable income. The business isn’t lucrative yet, but I hope it will become profitable in 2022. Would not having a stable income be an issue??? I know in the beginning of the video you mentioned if you have an LLC the bank doesn’t care where the money comes from? 🤔

[@reybigdreams1618]

@neal cassady what happened in your situation?

[@justinu4521]

Can you skip the small steps (single family, duplex) and jump straight into deals like this???

[@ibsenalamo4471]

Where to find investors??? Im in PUERTO RICO its a Headache to find them

[@LUCKYHYPERCARZ]

How old were you when you bought your first property

[@gg.6633]

Hmm informative video. I am concerned about your practice of buying a property just to raise rent prices. You said you could add value to properties, what value do you add that constitutes raising prices? Curious…

[@luvslogistics1725]

What area are you doing this in?

[@brandonmiller2171]

Is it possible to do a 1031 exchange on a single-family home to a 5 unit appartment or bigger and differ the capital gains taxes and depreciation recapture taxes?

[@pawelwisniewski6849]

Yep

[@brandonmiller2171]

So what's the answer? Can this be done as a like-kind exchange?

[@jamarmills7928]

Yes

[@sadarrielbrown5617]

How to find complexes for sale?

[@andyschmucker4734]

Does your course cover multifamily or residential?

[@RAMADHAN2023_]

lease, they swore the information was sent to my current address but I

[@Ronnye40]

How about if you’re starting off on your first investment and you have the experience through books for a value add investment on a apartment building but you can’t get Private financing because you don’t have the “background” or “experience” to get approved. Is bringing someone into the investment that is experienced the only way or is there any other way?

[@Ronnye40]

@RBA Equity Sweat equity.

[@Techpodshed]

What banks you talking about? What are the name of banks?

[@IDAHOJAKE]

See you gotta come up with 20-30% where did you come up with money? Self made or did you come up some how?

[@pranathkumarnath9702]

never received the eviction because of being gone from my previous