All Forum Posts by: Cody Zimmer

@Ray Lai - Amazing, thank you!  That's really a great review, especially for a company you haven't done a deal with.  Reading through your post makes me realize just how many details there are to pay attention to, and it seems a bit overwhelming to be honest.  I've definitely got some more learning/research to do.

I was curious, you said that none of their current properties met you goals for ROI. Can you explain what your criteria are? My plans are to go by the bigger pockets rental income calculator, and shoot for $100-$200/mo cashflow per unit. I'm not 100% sure where I need to be for cash-on-cash, though I believe it's around 10-12%. I'm also not planning on being real strict about the 2% rule, as I've heard it's not very realistic.

Thanks again, I'll definitely put Spartan at the top of my list for turnkey providers to contact!

@Robert Wodogaza  I see myself becoming a "buy and hold" guy as well.  Since you mentioned seeing opportunity in the South, what do you think of Birmingham, Alabama?

@Mike D'Arrigo - I've had a few people contact me about Kansas City, seems like KC and Indianapolis are doing well right now.  Why do you suppose that is?  Please share the review site you mentioned!

@Account Closed - I feel this is really good advice.  However, it leaves me confused as to what to do.  I have about $80-$100k in equity I can tap into in order to invest.  Here in the bay, that's just a down payment on a place, whereas in another market I could buy a property (maybe 2?) basically for cash.

I'm more concerned about setting up long-term cash flow, and I'm looking at any potential equity as a bonus.  Is this the wrong way to think about things?  What do you look for in a property in order to add value?

@Robert Wodogaza  Good point, I definitely need to learn more about creative financing options.  I was thinking about getting Brandon's book on the topic.  Have you been investing where you are in the NE?  Can you tell me a little about your experience?

@Ray Lai - Great tip about turnkey providers, I'll keep that in mind.  I checked out Spartan invest and they look really good.  Can you tell me more about your experience with them?

@Aaron Cullen, how do you find good turnkey companies?

Hi there! My name is Cody and I'm excited to get started investing in real estate. I grew up around real estate, my father was a broker, and I've always wanted to get into investing for cash flow. My goal is to acquire enough rental units (either SFH or small multi-family), to replace my paycheck and focus on real estate full-time.

Before I found Bigger Pockets, I didn't think this sort of thing was possible.  Living in California, especially the here in the Bay Area, prices are high and I just didn't think I could afford to invest.  Fortunately I have enough equity built up in my condo that I believe I'm in a position to start investing if I look in more affordable areas.

I'll probably need to look for properties out of state, so I'd appreciate any recommendations of areas to check out, or any advice in general on the topic.

Also, I'm hoping to be able to grow as quickly as I can manage, I don't want to just acquire a single property and then have to wait years to save up for a second. That's why I'm considering the BRRRR method that Brandon talks about in the podcasts. I'm also very curious to hear opinions thoughts on this as well.

Thanks for taking the time to read my post!  I'm eager to get started and to become a member of this community!

@Percy N. - That's very helpful, thank you! I have cash to buy with, but I'm hoping to BRRR, and refi to get my cash out so I can buy again. So maybe the insurance policy is a better bet for me?

@Percy N. Right, I understand the goal is to limit liability. I just thought that an LLC was doing that through a corporation, whereas when you mentioned policy - it sounded like you were doing that through insurance. I'm pretty new to this and I just want to make sure I understand the vehicles you're talking about. Thanks!