All Forum Posts by: Blake Alexander

I've heard from several property management / development companies in LA that they absolutely will not hire anyone unless they are proficient in Yardi. When I asked how to get proficient they said work at a company that uses Yardi...

Hey @Lindsay Wyatt! Welcome to BP! I'm in LA and I'm looking out of state too. I've found Indy, Cleveland, Jacksonville and KC to have great price / rent ratios. Pittsburg seems solid as well. 

Good luck with your search and let us know how you do!

Hey BP!

I have a client who is looking to buy a 4 unit multi-family with 10% down. The issue is prices in my area generally require 40%+ in order to cash-flow. There are also rent controlled tenants in many of these buildings who are nearly impossible to get out, many of whom are paying 1/2 market rent. 

Is there a better way to go about this search? Can I reverse engineer this in a way to find only the buildings that will cash flow at 10% down?

Any help would be appreciated! 

Hey Paul, 

Have you found any others since you posted this? I'm a big fan of the CBRE and PWC reports. I'll also look at NAR and JLL.

My only issue with CBRE is that it lags a quarter, so right now Q3 is the most recent report available. 

I want to know what commercial real estate pros are reading. Maybe Costar, but that's sub only.

Congrats @Christopher Blanco! Did you end up closing on the duplex? Also are you planning on self-managing or hiring management? 

@Jasmine Williams with or without marketing money? I would say cold calls, open houses, referrals, sphere of influence, head-knocking, family/friends, social media are the best free leads. 

Zillow/Trulia ads, Realtor.com ads, mailers, postcards, buying lunch for local businesses are the best paid leads. 

Hey BP! 

My partner and I are offering a 30% referral fee agreement for any clients sent our way (you must be licensed obv.). If you want to chat before referring anyone, we can jump on the phone or grab a coffee.

I meet lots of people moving out of state as well (e.g. Texas, Oregon, North Carolina) so maybe we can build a little referral network. We specialize in the LA area and work in Palm Springs as well. 

Thanks everyone! Keep grinding!

@Jeffrey Vargas I sent you a PM with contact info for a hard money lender I like. 

@Daniel Sanchez I second @Nick Hedberg's suggestion — CA Realty Training. Rico is the best trainer you could ask for. Super nice guy and you'll learn a lot in his classes. 

@Jake Glassman I'd also add the Inland Empire, Antelope Valley and the Coachella Valley to that list.