Don’t make this mistake that can doom your multifamily investment before it starts

It’s time to get political! In today’s episode of the Heartland Multifamily Show, we’re talking about getting green. But not just getting money green, but the environment. Many companies, especially large ones, have ESG (environmental, social, and governance performance) scores, or diversity and inclusion goals, or a vision that includes giving a portion of their income to various charities. Whether these are a waste of money or a necessary part of any good corporate management is completely up to you. But whatever your opinion is, you need to make sure that you are on the same page as your other investors and business partners. Otherwise, you will have friction between you that will make for an unstable and unhappy business relationship. Watch this video to learn why you need to do due diligence on your business partners as much as your property and do it before you sign any agreements or invest a single dollar.

0:15 Let’s get political
0:42 What questions you need to ask
1:01 Don’t find out the hard way that you disagree with your business associates
2:30 Why I was interviewed about banks
3:21 Ask these questions BEFORE you invest in multifamily
6:40 Ask before you invest your money
7:25 Once you’re in…you’re in!
8:40 What’s going on behind the scenes?
9:50 Would you want to invest in an environmentally conscious company?
11:05 It’s easy to get into a deal, hard to get out of one.
14:22 Is being green a fad?
17:40 What do you think about these issues?
18:00 You’re not just choosing a property, you’re choosing a business
18:55 Do you find more friction, as an investor with the state, local, or federal government?
21:03 What do you need to know about local government?
21:40 Recap:
Environmental & social concerns should be part of your due diligence
If you disagree with someone on those issues, you should not invest with them
It can be hard to get out of a deal, so make sure you do your due diligence not just on the property, but on your potential business partners.


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