All Forum Posts by: Jarrod Cook

@Blake Morgan you have an amazing opportunity in front of you! I think you'll find that most everyone on this site would do about anything to be in your position.

Here's my 2 cents based on 17 years of property management experience and buying, selling and owning investment properties:

- You are correct - lots of potential money, but also a lot of risk... Welcome to life :) the greater the risk, the greater the return. Not always the case, but more often than not.

- When describing your building, I would use inexpensive or affordable instead of cheap and basic. Regarding your tenants, I'm guessing they are low income, not low quality.

- I have much knowledge of the Birmingham market, especially when it comes to apartment buildings, and am very willing to help you or answer any questions you may have.

- What you have in mind as far as using a management company is VERY doable and is how most investors are set up... especially with larger buildings.

- You are correct that this is your decision but you are doing the right thing by asking questions and exploring all of your options. 

Let's connect and speak more about the opportunity in front of you and how you can make it work while maintaining your career in Atlanta.

@Jamie Parker the purchase price on this building is 1.4 and unfortunately owner financing is not an option. i will send you a sales sheet in PM.

Are you an investor focused real estate agent looking for a place to grow?

Do you love investment real estate and want to help investors buy and sell while building a portfolio?

Would you enjoy being surrounded by investors overflowing with knowledge that could help you build your personal portfolio?

If any of these sound good to you and you have an active real estate license, Decas Group may be the perfect landing spot for you. 

We are looking for driven agents to help keep up with the demand of our existing clients while building a buyers list of their own. We are in a market with unlimited potential, let us show you how to take advantage of it. 

Please email me direct at [email protected].

@Brant Jones That's great you are interested in the Birmingham market. My company offers a turnkey program for investors like yourself wanting to begin a portfolio in our market. Send me a PM if you would like to learn more.

Lets talk soon.

@Jamie Parker I didn't switch from commercial, I do both now, just happen to do more single family and small multi. The commercial deals I was doing were office buildings and warehouses - I managed many apartment communities but never got into sales.

In my opinion there is not more money in one than the other because of the length of time it takes to work the deals. 1 commercial deal may net 100k but take 6-8 months to close where in that same time frame you could do enough smaller deals to net the same amount. It's 100% personal preference. Do what you love.

I have a 22 suite office bldg in the Southside of Birmingham for sale now if you're ready to get going. It is fully occupied and nets close to 9k a month. It's not listed publically but we can definitely do business if you're ready to make the jump into commercial.

Good luck!

@Jamie Parker you've set some tall goals and I wish you the best in achieving them. The first 5 years of my career were spent in commercial before moving over to residential. I think you'll find that the 2 are quite different; the commercial world is very cut throat..

As far as building rapport with brokers, it's the same as with anything else - be where they are, pass out lots of cards and shake lots of hands. Grabbing a commercial deal before it hits the market may be tough unless you're dealing with the property owner.

CCIM is quite a tag to carry but I'm not sure it's necessary for what you're trying to do... You need quite a bit of experience to even be accepted in to the program. Your timeline of 5-10 years could be met if you began the process tomorrow. And then there's the cost - plan to spend 15-20k on classes and travel (they only offer the classes at certain times and in certain cities).

Check out IREM's website for more details.

Good luck! You can do anything if you want it bad enough. 

@John Draper I am a buy and hold investor in Birmingham and my advice is to hold any investment real estate you own in an LLC. I have never had an issue getting financing through my LLC so I guess I'm dealing with different lenders than some of the other posters. I'd also advise not to hold more than 10 properties in each LLC.

Good Luck!

@Stephanie P., message sent. Thank you!

Hi BP!

I am a buy and hold investor in Birmingham, AL and am looking at expanding into the Greenville market. How is the rental market there? Any turnkey providers recommendations?

Hi BP! 

I'm looking for advice on lenders. I purchase and rehab my properties with cash and am looking for a lender that will allow me to do a cash-out refinance without needing to season the deal for 6 months. 

Any and all advice is greatly appreciated!