All Forum Posts by: Austin Mudd

Quote from @Albert Neil:

Hi there!

This is my first post on BP and I'm happy to be here and thankful for everyone on the platform helping each other out. Especially newbies like myself. 

I'm currently working on building a database using Google earth and parlay and wanted to see if anyone had any recommendations for a good contact manager that I can input the data in to in and start cold calling out of. 

Thanks for any recommendations.

Hey Albert, I'll be sending you a DM. I'm working on a CRM/data software to address a number of pain points I've found with other platforms, both residential and commercial. Just went into beta and would love to chat. I've closed $50M of multifamily sales from cold calling in my first 2 years as an agent. There's nothing more you need to do to get started than building relationships with property owners by giving them a ring,  consistently following up, and showing how you can provide value.

Hey Arthur, just sent you a DM. I'm working on a CRM/data software to address a number of pain points I've found with other platforms, both residential and commercial. Just went into beta and would love to chat.

Originally posted by @Account Closed:

Originally posted by @Ricardo P.:

eviction moratoriums are NOT ENDING anytime soon in SoCal. I can see the light at the end of the tunnel towards the end of 2021 being realistic with Rent forgiveness and NO help for landlords. It’s a democratic state to buy out votes. I agree it will get really ugly before it gets better.

 Any idea why people still invest in CA?

I saw the writing on the wall a while back and friends thought I was nuts to not invest in California. I looked around and saw nearby landlord friendly AZ and TX. Seems people are the proverbial frog in the pot.  They don't notice it is getting increasing bad but seem to take No action to make it change.

Because properties trade at a 3.5% cap rate and get financed on 4.0%-4.5% cap rates. So every dollar of NOI increase can increase the property value by $25

Originally posted by @Karl B.:

I think prices will drop in most markets. I'm stacking cash and am in the process of listing my house in Los Angeles (realtor will have it on the market in roughly a week; I had a contractor rehab the outside and inside over the past few months).

I plan on sitting on that capital until I see some delicious deals!  

 Good for you. Inventory is very low right now.

@David Czech feel free to PM me. No one can provide anything useful to you without knowing where the site is. 

@Alex Mikhals any update on your search?

@Dorian Ridgely You typically won't find cash flowing multifamily property in Los Angeles (at least in more desirable areas).

Los Angeles is a value-add market. So you find a property where you can renovate the units, capture large rent increases, and refinance your equity out or sell for significant profit.

[Solicitation Removed by Moderators]

Los Angeles agent and San Diego native here... tooting my own horn

There will be great opportunities in other markets that see great demographic trends (Boise, SLC, Phoenix), but places like Southern California will always attract top talent. I'm incredibly bullish on Los Angeles. With what's going on with the technology and entertainment industry here, there will always be great opportunities to make money in LA.

I went through my crypto nerd stage and thought the industry was stupid not to adopt Crypto. But I was working for a very large bank and saw how futile it is for massive financial firms to adopt new payment systems. If banks won't touch crypto, then you shouldn't bother accepting crypto for your business.

If you've seen this deal multiple times, have the team in place to tackle common issues that you're well aware may pop up, and you know there's a lot of upside, go ahead.

But if you're asking the question, then you shouldn't waive the inspection. What's the downside in the deal? Could the downside ruin you? No deal is worth the pain if you can't determine how much downside you might incur.

Pay up for a better deal which even though it might be more expensive, you can quantify the risk and there's other factors that make the deal more attractive (better submarket, better rent growth, less CapEx, etc)