125 Tips for Cash Flow Part 2 — Market Selection, Deal Analysis, Drive-Bys, LOIs & Due Diligence

125 Tips for Cash Flow Part 2 — Market Selection, Deal Analysis, Drive-Bys, LOIs & Due Diligence

Author: Mark & Tamiel Kenney January 12, 2023 Duration: 26:16

One property tax adjustment turned a 22% IRR into a negative 10%. That's what happens when you don't do your homework before you submit an offer.

In Part 2 of the 125 Tips series, Mark Kenney covers market selection, deal analysis, drive-by strategy, LOI submission, contracts, and due diligence — with the real errors and real examples that expose where investors get burned.

In this episode you will learn:

• Why city investment in a submarket matters less than developer investment — and the market characteristics Mark avoids entirely

• The $50M deal red flag: what happens when someone submits with no PM budget, no insurance, no equity, and three other deals open

• How one property tax adjustment flipped a positive 22% IRR to a negative 10% — without changing anything else

• Cap rates demystified: sub-market vs. in-place T12 vs. adjusted — and which one you're actually buying at

• The cash vs. accrual accounting distinction that can shift property value by millions — and why sellers use one and buyers assume the other

• Drive-by strategy, LOI submission rules, re-trade guidelines, and why Mark's team drilled the locks on 36 units during due diligence

This is Part 2 of a three-part series. Listen to Episode 132 first, then continue with Episode 134.

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Read the full podcast shownotes, timestamps, resources, and key insights from this episode here: Podcast Show Notes


Mark and Tamiel Kenney built something remarkable, turning a single duplex into a portfolio of over sixty-five hundred units in just three years. On the Think Multifamily Podcast, they pull back the curtain on exactly how they did it, moving beyond theory to share the tangible, week-by-week steps that define real success in apartment investing. This isn't about sacrificing your time or freedom; it's a practical conversation about building a legacy that actually works for your life. Each episode feels like a direct conversation with the Kenneys, filled with the specific insights and hard-won lessons from their own journey. You'll hear them break down complex deals, discuss market shifts, and explore the mindset required to navigate the challenges and opportunities in multifamily real estate. Tune in for a straightforward, content-rich dialogue that cuts through the noise, offering a clear path for anyone serious about creating lasting wealth through property. This podcast provides the kind of actionable guidance that only comes from hosts who have walked the path themselves.
Author: Language: English Episodes: 50

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