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All Forum Posts by: Mike Cosmah

Mike Cosmah has started 1 posts and replied 27 times.

Post: Atlanta Newbie Investor Intro

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

Welcome @Jacari Boboye! You have some great places to start. Don't get discouraged. There is a lot of competition in the market right now but just keep plugging away until you find the right deal. You mentioned that you're considering a primary residence in parallel, have you considered looking for a small multifamily property?

Post: What are the top 5 guideline any RE investor should know(1% rule)

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

I would recommend doing a little more research on what type of RE you want to invest in, the location or market you're interested in or that supports the strategy you want to use, the asset class you want to or are capable of investing in, etc. After knowing these things you can narrow down the "thumb rules" that you want to use. Just make sure when you decide to use a thumb rule, it's based on the above information. Talk to brokers, bankers, property managers, other RE investors that are in the market you're looking at. Then use the information you find to come up with you're own thumb rules that match what you've found in the real world. Thumb rules are typically only used for very quick, high level analysis and can be dependent on many of the above criteria so you'll get many different answers from different people. Here is a post where the first reply by @Bill Hampton has many of the resources available right here on BP.  https://www.biggerpockets.com/... 

Good luck!

Post: Minneapolis multifamily investing advice?

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

Hi Abraham! I don't have anything for you in MN but I would definitely take some time to search around in the forums here on BP and you'll be able to meet a lot of people that can help. Check out this awesome list of resources on BP that was posted by @Bill Hampton. (first reply below the original post)

https://www.biggerpockets.com/...

Also try networking on LinkedIn. It has a great search function that will be able to help you find people to connect with in your area. 

Post: Where to begin as a 26 year old student with 30k saved up?

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

Why not try starting with house hacking in a SF or duplex up to a quad? You can use FHA and get into these pretty easily.

Post: Multi-Family Investor looking in Tampa/Orlando areas

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

I would definitely call and email brokers in the areas you're interested in and let them know what you're looking for. Start creating relationships with them asap so that when they do find a deal they'll bring it to you. If you find newer brokers who might not have huge networks yet you can have some luck. Some of these guys are out there finding deals and just don't have a big network of solid or proven buyers that they've worked with yet. So they'll probably go with someone who has been contacting them and staying top of mind.

Post: How to approach brokers when cash isn't ready?

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

@Arn Cenedella put it perfectly! Some brokers may not be receptive to you but that's ok. Contact several in the areas you're interested in, create a relationship with them and be upfront about your situation. You'll find out pretty quickly which brokers you would prefer to deal with. Good Luck!

Post: New Member Introduction - Grey Drummonds

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

@Grey Drummonds Welcome to BP! Congratulations on making the decision to invest in RE! I'm sure you'll find what you're looking for with all the research and education you're feeding yourself. Keep plugging away and stay hungry!

Post: 14 Unit Apartment Reposition in Orlando

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

Congratulations @George Roberts

Post: New Investor from Atlanta

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

@Jeremy Robbins Welcome to BP! I'm also beginning my journey in getting to know everyone here on BP! I've "lurked" over the years and decided I should come out of the shadows, haha. What a great resource you put together here @Bill Hampton, thank you! I'm new to the multifamily brokering world and have been spending  a lot of time educating myself and getting to know everyone. I'm lucky to be part of an experienced multifamily team that is making it an enjoyable learning experience so far. Good luck to you Jeremy and be sure to keep us updated! 

Post: New Member from Evans, GA

Mike CosmahPosted
  • Real Estate Broker
  • Columbus, GA
  • Posts 28
  • Votes 22

As @Brian Ellison mentioned above, I would love to hear from you @Joel C. and find out how your journey has been going! Glad to see so many people getting involved in RE investment here in GA!