All Forum Posts by: Brian Garrett

You have to run the numbers in advance and make sure it will still cash flow with the higher loan.

That's essential for BRRRR otherwise it's better suited as a flip in order to capture that equity gain.

Hey Joe welcome to BP. I also live in Jupiter and can tell you there aren't any deals on the MLS. You're going to want to do some marketing to find off-market deals that you are direct to the seller on. That's the only way to find a real deal here in Palm Beach County currently. It is very competitive and overpriced at the moment. Finding money is the easy part around here. There are tons of HML's and I'm sure you can find private money being that you live in this area. Best of luck on your hunt just make sure you run your numbers thoroughly and account for everything!

A "heavy hitter" is someone who consistently adds value and contributes within the forums.

I would not consider a previous podcast guest a heavy hitter by any means unless they are active within the community long after their podcast aired. Typically they are just self-promoting and looking to use their BP "clout" to attract money or investors to their future deals which of course are usually more beneficial to them than you since they are the "guru".

Votes also hold little weight to me. I've seen countless new members with little to no votes provide much more insight than someone with hundreds or thousands of votes. That is just another clout tool for someone to try and appear like an expert but votes typically have little to no correlation to their actual knowledge and/or real world experience. The "popular" people around here get votes on anything they post whether it's helpful or not and that's just how it goes.

Also I think the term "PRO" needs to be changed for paying members as it's very misleading to new members who don't know better. They can easily mistake this title as someone who is an "expert" rather than someone who simply paid for a membership to the site. Please keep in mind these are simply my opinions from someone who's been around a while!

Keep in mind there's a big difference between owning $100M in RE and controlling $100M in RE.

There are MANY syndicators who control over $100M worth of assets but aren't worth a small fraction of that.

The assets are primarily owned by LP investors and they only own a small piece of each one of the deals.

First of all don't announce having $230k on a public forum. You open yourself up to a lot of people that will be looking to spend your money, not invest it. Ignore all of the colleague requests and messages you get with "opportunities" and "deals". Next you need to look into commercial/portfolio loans. They will look more at the financials of the deal itself rather than your personal financials. Best of luck!

Yep I’m one of them and actively looking so we’ll see how it pans out.

Are you noticing any more of your property owners wanting to sell during this time or have they remain unaffected by the pandemic? My thoughts are that some smaller (5-20 unit) mom and pop owned multifamily deals should present themselves in the next 6-12 months given the current circumstances. Curious if you've noticed anything happening already within your circle of property owners. If not, what are your projections for our local market?

I’d be leery of any commercial property that was recently turned into a duplex and has been on the market for 150 days in an extremely hot and competitive market particularly for multifamily. I know because I live here and am actively looking. Are you sure this a true legal duplex per the county records now? If so have you ran the comps to make sure you aren’t overpaying?

Grant is great at marketing himself there’s no doubt about that but in my opinion he has yet to prove himself as an efficient and successful multifamily operator. This would be the chance for him to do that so only time will tell if he can withstand the heat and find a way to prevail.

How anyone could watch that video and think it was real is beyond me. $50M jet for $6M. $400K Patek for $4K. Making jokes like “the feds are here” while laughing with his assistant. The people who don’t recognize that this is nothing more than marketing are the same gullible ones that he would love to invest in one of his deals.