All Forum Posts by: Kody Broussard

Thanks everyone for the feedback. I have a copy of Frank's book, on my list to read in the next few weeks. 

@Roy N.

What software did you use to write your own modeling system?

Hello BP Community,

What is the best multifamily deal analysis software available right now? Trying to optimize my time spent running numbers.

Best Regards,

Kody 

@Gwendolyn Davis

Hello Gwendolyn

Grand Bay is not prime Real Estate for the area surrounding Mobile. Most people that commute to Mobile want to live on the Eastern Shore. 

What is your plan for the property after you purchase it? Are you going to try to hold it and rent the three houses out?

Best Regards,

Kody

Hello BP Community,

Does anyone know what the average cap rate for multifamily deals are in Southern Alabama?

I am trying to get a base line for my deal analysis and I want to be sure that I am competitive. 

Also what ROI percentage are investors looking for at this time period?

Thanks in advance for your help. 

Best Regards,

Kody

I went with a nice gift basket from Harry and Davids. I have great tenants right now and hopefully the gift basket will seal the deal for another years lease. 

But I agree once you have scaled your real estate business up this could get too expensive. 

@Cody Gray

Hey Cody,

Brandon from bigger pockets has a book on creative financing for real estate deals. It might be worth checking out. 

http://www.amazon.com/Book-Investing-Real-Estate-M...

A few creative ways I am interesting in are syndication, owner financing,  and hard money. 

Send me a message if you have any questions. 

Best Regards,

Kody

@Adam Jones

Hey Adam,

Sounds like you have a solid goal and a game plan, you are ahead of most people. I think student housing/apartments is an interesting market. I am also looking around a few college campuses as well. The property management of student housing is definitely a different animal and you need to be prepared for that. 

Well to get on the beach it is tough to find something under 200K. I was able to get into an older condo built in the early 80s that needed some renovation work for 170K. I am doing all the renovations myself and it has been an experience to say the least. My advice before buying is to find out everything you can about the HOA. You need to know all the rules, their average assessment cost per year, how much money they have in reserve, rules on renting, rules on renovation, and so on. For instance the HOA does not allow me to do loud construction work on the weekends or past 5 PM on the weekdays. This can really slow down renovations, especially since I have a full time job. I will find out soon how time intensive the property management is.

On the bright side Orange Beach was at over 95% occupied the entire summer. 

Best Regards,

Kody 

@Adam Jones

Hey Adam,

Welcome to BP! I am new investor as well, located in Baldwin/Mobile County. I own a SFR and a beach condo vacation rental in Baldwin County. If you have any questions about the my area or the types of property I own reach out to me.

I am going a complete 180 from what I own and diving straight into larger Apartment complex deals through syndication. SFR and beach condos will not get me to my goal quick enough so I am changing my investment strategy. (10X Rule)

What is your end goal with real estate investing?

Best Regards,

Kody

@Lauren Baker

Welcome to BP, I wish I would have discovered this community at your point in life. I graduated college started making good money as an engineer and blew through a lot of it. I am in a good position now and luckily I discovered my passion for real estate only a few years out of college. I could be in a better position though if i would have invested more of my money early on, The financial knowledge that can be gained from this website will far exceed most things you will learn in school. 

Study up, read books, listen to podcast, and network. 

Best Regards,

Kody

Hello @Adam Bird,

Welcome to BP!

What areas of real estate are you interested in? I suggest listening to the BP podcasts and get a feel for what area would best fit your goals. 

Best Regards,

Kody