All Forum Posts by: Bradley Jernigan

Hello Lam,

Definitely begin to connect with local realtors and explain what type of deals you are looking for. You can find these realtors on biggerpockets, through RE groups, or through a simple google search. I believe the biggest first step into multi-family real estate is to first find a good deal and then to find investors to invest into your deal. It will always be easier to find investors when you can present to them a great deal that will bring them great returns. Therefore, start by connecting with realtors, investors, and landlords to find a multi-family property to potentially buy. Hope this helps!

Quote from @Keith Johnson:

I always hear real estate investing is a team sports can anyone share with me how the made good relationships from attending meet ups while networking 

Hello Keith do not be afraid to introduce yourself to as many people as possible. Make sure to build genuine relationships and offer to help out with their business as well. By asking this you can gain mentorship which is a great way to get started in real estate. 

Hey Sesha,

I currently own properties in Dallas, Tx and rents are growing rapidly within the city. Also Dallas has seen major construction projects throughout the past five years. This is a hot market as many people are migrating into the city. The best way to start learning more about the city is to reach out to local real estate agents. You can find these agents through sites such as Loopnet, Zillow, Google, or on BiggerPockets. Make sure to explain your current situation and what you are looking for! Realtors will definitely help you with finding a property to buy. You can also find deals on your own by driving for dollars or searching for properties on sites like propstream. This is another way to get started and to learn how to find/acquire deals. Both ways are effective but my advice will be to call as many people as you can to gain knowledge and to build relationships.

Hello Damon, 

Personally, I like to buy existing properties for the monthly cash flow from tenants and other income. Building multi-family properties usually are too expensive and you will not see any profit until after renovations are completed. I suggest to look into partially fire damaged buildings. Properties like these are perfect because you can rent out the parts that are not damaged and continue to build upon the property. Owners often sell these properties for cheap since there is a lot of construction needed as well. Also, multi-family properties that are located on a large piece land is another great way to build and collect cash flow. Turning a 14 unit building into a 16 unit building can increase the value of the property tremendously. 

Hello Shannon,

Driving for dollars is definitely a great way to start looking for owner financing deals. By searching for poorly managed properties you can quickly find the deals where the owner is not 100% invested in operating the property. You can use this information to call the owner and offer to take the property off the owners hands through owner financing. 

Hello Tom, 

If you want the keep the tenants then try offering to fix/upgrade on one thing within the apartment. Tenants often are more subjective to have their rent raised once they see instant improvement within their unit. It may costs you a little upfront but having 5 year tenants is something you do not want to lose.

Hey Andrea, 

Try connecting with a mentor where you can offer your time in exchange for more knowledge with owning real estate. I got started by managing multiple properties for my mentor. It was a pain dealing with tenants, but I quickly learned how into manage/own real estate. This eventually led to me presenting a deal to my mentor where I offered to manage and renovate the property as long as he would help with raising money for the down payment. My mentor agreed and that is how I was able to start owning property in Dallas, Tx. Hope this helps!

Quote from @Michael Lam:

Hi Guys,

Whats the best City in Texas to invest in for investors looking to build a portfolio of multifamily properties with a focus on Cashflow?

I currently own properties in Dallas, Tx and rents are growing rapidly within the city. Also Dallas has seen major construction projects throughout the past five years. This is a hot market I would definitely look into however, cash flow comes from how great the deal is. Definitely learn about how to calculate expenses, mortgage payments, NOI, and the total net income of a deal to see a projection of how much passive income you can make on a property.

What trends are people seeing regarding the current real estate market? Are sellers lowering prices due to high interest rates? Do you see this continuing heading into next year? Do you project interest rates lowering to pre-pandemic rates?

From my experience, I have learned repainting a building can immediately upgrade the exterior of a building. Also addressing exterior elements such as as siding, windows, doors and landscaping can all improve the curb appeal of a building. Are there any other exterior additions that can draw attention to tenants and improve the value of the property?