All Forum Posts by: Kody Broussard

Hello @Curt Davis thanks for the information. I am in contact with Steve Woodyard and looking at the deals he has listed currently. I will get in contact with Jeff Moore as well. @Sean Tagge Sounds like you guys are starting to get some apartment deals as well. I am about to send you an email so we can schedule a meeting next week. 

Best Regards,

Kody

@Sean Tagge and @Curt Davis than you so much for the quick answers. Do you guys have any recommendations of commercial brokers who specialize in multi-family. 

Are there any current areas of Memphis that are being gentrified or the city is focusing on to revitalize? 

@Brad Starks

Hey Brad, unfortunately I agree with @Jeff B.

Before you take the plunge into getting a property under contract you really need to know it is a great deal. The best way to determine if it is a good deal is to find a honest broker or investor who specializes in apartments of this size in your market. Like others were saying there are too many variables that can blow up a deal. 

It took the easy route and bought @Michael Blank's deal analyzer spreadsheet. Has a nice video tutorial on how to use it and it is fully editable so you can tweak it to your liking. You can build this on your own, but why waste time when someone has already done it for you. I built my own originally and I ended up liking Michael's better. 

Feel free to reach out to me if you have any other questions about getting started. 

Best Regards,

Kody

@Kerry Broussard

Hello BP,

As expected the BP community stepped up and gave me some great ideas to ponder upon. 

@Brandon Willingham - Great points and questions that I need be sure of before tackling a new market.  My big picture goal is to do big repositions of older historical buildings into Class A apartments in the stable metros and outfit them with latest and greatest tech for the millennial generation. However, right now I am looking for 50+ units, value add play, growing economy, forward thinking government, and favorable landord laws. Plan: buy, reposition, force appreciation, and then trade up. When market is on the up, get out, and move on to the next one.  I need minimum 8% cap rate, 20% average annual returns over the life of the hold. 

Best Regards,
Kody

Hello BP,

I am considering moving to a solid emerging market to fully immerse in the opportunity. Any suggestions?

Best Regards,

Kody

Hey Rodrigo,

Sounds like you have a great base to start from, you are in a much better position than most. The Santa Monica real estate market is a little expensive, but I am sure there are still some deals out there. 

If you do not want to becoming a marketing expert, finding a good wholesaler would be ideal. Best way to find one is join real estate investing club or group. These guys will typically have a buyers list at the back of the meeting and you can sign right up and start getting a flow of deals. 

Make sure you learn your numbers, this is key especially for your first flip. Make sure the deal is really good because you will run into problems and it will cost you more money than you thought. 

I am not a flipper, but it is a great way to make some cash to move into other investments. I specialize in multi family, so if you are curious about this business feel free to reach out to me. 

Best Regards,

Kody

Hello Jack,

You have come to right place to start piecing together your real estate investing career.  I think wholesaling is great place to get some exposure to real estate without much capital and risk. You can always back out of contract if you can not find a buyer and you do not need any money to call Craigslist adds and go knock on doors. 

However, I never did any wholesaling and have jumped straight into commercial real estate after managing a few SFH rentals that I had. After a year of learning the business and networking I am about to close on a partnership deal of 11 units in a great location.

The best advice is to join a real estate investment club. Your city should have one or you should start one. That is the best way to meet people familiar with your market and can help you get started.  This site is a great place to start, but nothing beats finding people actually doing wholesaling in your area. 

If you have any questions feel free to reach out to me. 

Best Regards,

Kody

Hello BP,

I am working on strengthening my skills in market analysis and I am wondering if any of you experienced investors out there have some favorite tools that make the job easier. 

I have been using the US Census Bureau website, but I assume there are better tools out there.

Also if any one has some opinions on emerging markets please feel free to share. 

Best Regards,

Kody