All Forum Posts by: Kent Leach

Cody, what are your real estate related goals?  Are you interested in multi-family? Fix and flip?  Rent and Hold?  Just curious to see what you're looking for?

Congratulations Evan for taking action! Win or lose, you stepped out of your comfort zone and did something that 90% of those reading these posts will never do. I applaud you for doing your homework but ultimately pulling the trigger. The next deals won't cause near as many butterflys in your stomach. Best of luck to you! 

I would say keep an open mind and don't limit yourself to California.  There are so many good markets in the Midwest and southeast.  It can be scary to invest outside your comfort zone, but California is known for wild ups and downs.  Do your homework, listen to podcasts, follow these leads and then research.  I agree that multi-family is a great place to look.  Your 300k could easily be leveraged into 15-20 units in a B-C class asset.

The best way to approach a private lender is to have either a real deal or a sample deal to show them with numbers calculated.  You should know what these minimum numbers are for you.  Keep networking on here and always bring value.  There are deals out there.  We underwrite over 100 multifamily deals a month in dozens of markets, just to get one to offer on.  If you partner with an operator that can go anywhere and turn an asset  into the most desired apartment complex in the market, you don't have to limit yourself  to  one or two markets.