Multifamily Investing Fundamentals

About this course

Understand why multifamily is valued on income, how value-add business plans work, and what separates a strong sponsor from a weak one. Includes rent roll analysis, expense ratios, agency debt and the basics of syndication.

What you will learn

• Value a property using NOI and market cap rates
• Read a rent roll and T12 statement
• Evaluate a value-add business plan
• Understand syndication structures and sponsor alignment

1. Module 1

   Introduction

   3 lessons
   • Welcome to Multifamily Investing FundamentalsVideo · 14 min · Free preview
   • Course Roadmap and Completion RequirementsWritten lesson · 9 min · Free preview
   • How to Get the Most from This CourseWritten lesson · 9 min

2. Module 2

   Core Principles

   4 lessons
   • The Four Sources of Real Estate ReturnVideo · 14 min
   • Net Operating Income and Cap RateWritten lesson · 9 min
   • Cash-on-Cash Return and DSCRVideo · 14 min
   • Knowledge CheckQuiz · 6 min

3. Module 3

   Deal Structure

   3 lessons
   • Choosing a Financing StructureVideo · 14 min
   • Down Payment, Reserves and LeverageWritten lesson · 9 min
   • Ownership Entities and TitleVideo · 14 min

4. Module 4

   Financial Analysis

   3 lessons
   • Building a Pro FormaVideo · 14 min
   • Estimating Expenses RealisticallyWritten lesson · 9 min
   • Valuation with Comparable Sales and IncomeVideo · 14 min

5. Module 5

   Risk Management

   2 lessons
   • Identifying Property-Level RisksVideo · 14 min
   • Market and Liquidity RiskWritten lesson · 9 min

6. Module 6

   Real-World Examples

   2 lessons
   • Example: A Single-Family Rental UnderwrittenVideo · 14 min
   • Example: When the Numbers Look Too GoodWritten lesson · 9 min

7. Module 7

   Case Study

   2 lessons
   • Case Study: The Midwest DuplexCase study · 15 min
   • Case Study Debrief: What the Numbers MissedWritten lesson · 9 min

8. Module 8

   Final Assessment

   2 lessons
   • Final AssessmentQuiz · 6 min
   • Applied AssignmentAssignment · 12 min

Member reviews

• “Clear, practical and immediately useful. The worked examples made the numbers click.”

  YLYusuf Lawson · Aug 31, 2026
• “Changed how I evaluate every deal I look at.”

  IWImani Whitaker · Aug 26, 2026
• “Exactly the level of depth I was looking for. The downloadable tools are excellent.”

  EDElliot Dawson · Aug 19, 2026
• “The rent roll and T12 walkthrough alone was worth it. I now read offering memorandums with a completely different eye.”

  Morgan Hayes · Aug 13, 2026