All Forum Posts by: Cody Barna

@Omarh Torio the biggest thing for me is the weather, I've lived on the east coast my entire life and the winters start to wear on you overtime. I'm not a fan of the humidity so Florida isn't an option for me, I like San Diego and the Burbank/Pasadena area being that they're relatively close to the ocean but that comes with a large price. Arizona seems like a decent compromise being that it's within driving distance of CA and provides the warm weather around.

@Mike Rodriguez that's a great question, most of the time sellers are more apt to agree to your terms if you make a full price offer. It's a physiological thing, at the end of the day it could be the same exact terms just presented differently. This happens a lot in every day life, if an item is listed for $1.99 vs $2.00 you're more apt to buy it vs if you can buy two boxes of tissues for $5 or one box for $3.50, most people will think their saving money by going with the cheaper option. Same goes for real estate, if a couple list their home for $250k most of the time their agent has already conditioned them to believe they will receive a much higher offer. Lets say the home will need $10k in repairs, if you offer $240k they're less likely to accept it. When simply offering full price with a $10k credit at closing sounds more favorable. However considering how crazy the market is right now that's going to be tough to find, most properties are selling for well above asking price. As long as the numbers work I wouldn't be worried about a small difference in the closing costs.

@Omarh Torio nice! I'm not extremely knowledgeable about the market in that area but I've been considering making the move to Arizona. I really like parts of California as well but realistically the price points are just to high at this moment in time.

@Colby Fryar thanks for getting back to me, ideally in the 2-4 unit range. Reason I asked is because I've been considering making the move from the east coast at some point.

@Omarh Torio that's great man, what price point do you typically work in?

@Colby Fryar what's the multifamily market like in Tucson? Typical price point, good locations, etc.

@Bret McKee sounds like you have a good plan, how did you fund the purchase price and renovations?

@Omarh Torio glad to hear you're already doing well in real estate. What are your thoughts on being an agent in CA? Also where abouts to plan on purchasing your first property?

@Kendrique Coats if you have the financial means and you come across a great deal I would take advantage of it regardless of the current economic circumstances. That being said the current pandemic could effect a properties performance based on outside factors that you can't determine solely by running the numbers in a calculator. (Ex. a lot of people are working remotely which has reduced the demand for apartments in the heart of expensive cities.) These are my thoughts on the topic, good luck with everything!

@Maryann L. how much do you anticipate repairs will cost? 

What would the ARV be for a property in that area?