{"id":131787,"date":"2020-11-05T15:40:33","date_gmt":"2020-11-05T22:40:33","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=131787"},"modified":"2021-03-16T17:05:00","modified_gmt":"2021-03-16T23:05:00","slug":"investor-spotlight-cody-campbell","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/investor-spotlight-cody-campbell","title":{"rendered":"Investor Spotlight: How I Built a $1M Portfolio Using Other People’s Money Featuring Cody Campbell"},"content":{"rendered":"

After listening to several BiggerPockets podcasts, Cody Campbell<\/a> jumped into real estate. Since then, he’s done single-family, multifamily, and commercial deals both with partners and solo\u2014without using any of his own money.\u00a0<\/em><\/strong><\/p>\n

\"\"<\/p>\n

Name: <\/strong>Cody Campbell<\/p>\n

Age: <\/strong>36<\/p>\n

Location: <\/strong>Livingston, Tennessee<\/p>\n

What were you doing prior to real estate?<\/h3>\n

I have been a nurse anesthetist for 8 years, and I do real estate on the side.<\/p>\n

What got you interested in real estate investing, and how did you get started?<\/h3>\n

I was seeking financial freedom, wanted to scratch the entrepreneurial itch, and was looking for a better life in general.<\/p>\n

I started out by myself and got into a pretty unique single-family property and then another. Several of my co-workers were lending hard money, and we began to talk real estate investing. After several meetings, we got together and partnered up.<\/p>\n

Over the next 3 years, we accumulated over 50 rental doors, an apartment complex, and ultimately landed in the self-storage niche. We accumulated 10 facilities in two states. Our portfolio grew to $20M in 3 years.<\/p>\n

Related: <\/em><\/strong>Investor Spotlight: Prioritizing Financial Stability & Time Freedom\u2014& Attaining It in Under 2 Years With Erin Helle<\/a><\/em><\/p>\n

Then, everything changed on my end. My third child was born with Down Syndrome, and my entire perspective shifted. I didn’t want to miss my kids’ childhood. I couldn’t justify choosing money over pouring into my children, especially my third to get her as independent as possible.<\/p>\n

So, I walked away from my partnership\u2014but not investing as a whole. Instead I’m focused on investing in my tiny town of Livingston, Tennessee (population: 4,000).<\/p>\n

What is your real estate investment plan and preferred investing strategy?<\/h3>\n

To kick it off, I only look at deals within the town center, which is about 1.5 square miles. Since being on my own, I focus on the BRRRR method<\/a> with no money down on my end. I find deals, pay cash with other people’s money (OPM), rehab it, refi<\/a>, and rent, then repeat.<\/p>\n

Related: <\/em><\/strong>The BRRRR (Buy, Rehab, Rent, Refinance, Repeat) Strategy: A Primer for Investors<\/a><\/em><\/p>\n

I have done this with nine doors in my tiny town and have four more in line for the first of the year. I am currently working on an apartment deal (actually 10 duplexes on one street), again, with no money down. So far, I’ve grown my portfolio to over $1M. The plan is to keep going with no money down deals until I can’t\u2014then re-evaluate.<\/p>\n

That said, I dabble in a few property types (single family, multifamily) and a few strategies (buy and hold, fix and flip).<\/p>\n

How much did you have to invest when you first started?<\/h3>\n

$0<\/p>\n

What was your first deal?<\/h3>\n

After listening to the BiggerPockets Podcast<\/a>, I thought I had enough information to get started. I searched Zillow and found a property in Bowling Green, Kentucky, that had been on the market for over 300 days. It looked like there were two structures on the property, so I called a Realtor and took a look.<\/p>\n

I was right! There was a single-family home, 3 beds\/1 bath, that was empty due to some roof and water damage. There was also a garage that was converted into a church and then into a house, 5 bedrooms\/2 baths.<\/p>\n

I asked why the seller was selling, and the Realtor found out that he wanted to move and needed a $25K down payment for his new home. I asked if he owed anything on it. He did: $10K. So, I offered $35K, as-is and no inspection\u2014even though the asking price was $89K.<\/p>\n

Related: <\/strong>Investor Spotlight: Firefighter Chasing FIRE Locks Down 50 Doors in 1 Year Featuring Kyle Robertson<\/a><\/em><\/p>\n

About a week later, I got a phone call that my offer had been accepted. I had no money to do this at the time, but when the offer was accepted, I got to work.<\/p>\n

I called my hometown banker and said I needed $35K as soon as possible. He knew my profession, and he wrote me an unsecured loan check for $35K. I closed on the property.<\/p>\n

The next week I walked into a local Bowling Green Bank and put the house on note. It appraised for $90K. I left $18K in for equity, paid off my unsecured note of $35K, and used the $35K cash to rehab the properties. I rented the 3\/1 house for $700, and the 5\/2 garage-church-house for $900.<\/p>\n

This was my first deal\u2014and I was hooked.<\/p>\n

\"euphoric<\/p>\n

How many deals have you done to date?<\/h3>\n

15<\/p>\n

What is the most important part of a deal for you?<\/h3>\n

Currently, requiring no money down and meeting the 1% rule<\/a>.<\/p>\n

Related: <\/em><\/strong>How to Invest in Real Estate with No Money Down (4 Rules You NEED to Follow!)<\/a><\/em><\/p>\n

How do you know if a property fits your goals?<\/h3>\n

In my market, rents are as follows:<\/p>\n