All Forum Posts by: Andre Jernigan

@Danny Randazzo I appreciate it. I figured asking them about the market would be important. I’m surprised most PM companies would entertain a conversation as such.

@David Daily I’ve got one market narrowed down and am currently deciding between 2 more markets. I like the idea of compiling brokerages as opposed to Individual brokers. Perhaps I have been limiting my scope a bit much to begin with. When making contact with these brokers, what would be the best way to build credibility?Or would this be something that is built as relationships grow? Perhaps as mentioned above is there a right and wrong way to leverage the credibility and experience of the group I’m working with?

@Casey Christensen I appreciate it. Actually I listen to podcasts everyday both on the way to work and from work and have listened to a few of his podcasts. Thanks for the reference I will be listening to that episode on the way home today. Leveraging the relationship is exactly what I planned on doing. I’m still looking for the best way to convey that message to brokers and property managers I’m reaching out to. I’m sure there’s going to be some trial and error but I see it all as a learning experience. I appreciate the words of advice Casey. 

@Michael Ealy I’m glad you enjoyed the question :)I’ve started reaching out to brokers to start building relationships. Actually I went through loopnet and found the brokers who were listing different properties and started contacting them to connect. 

Property management is where I’m going next. I had been trying to come up with the perfect way to contact them about purchasing properties they may manage or asking about owners that might be looking to sell. However I’m starting to realize there is no right answer. It’s funny you mention rent.com and apartments.com. I was looking Last night and found a property with quite a few complaints. I’ll be reaching out to their management today ;) I appreciate it. 

@Charles Carillo  I was thinking along those same lines of speaking with the commercial brokers about different companies to reach out to. Luckily this group does their own property management. When it comes to criteria, things have been narrowed down to where we have a good idea of what we are looking for. A big thing I was thinking about was how they are paid on commission and how I’d like to make sure they know they aren’t wasting their time. Aside from a sort of presentation, slide deck, is there an effective way to present the level of professionalism? The group certainly has the experience so I suppose I could leverage that correct?

I will try and keep this as short as possible for time and reading purposes.

I first came across real estate investing after looking for ways to earn "passive" income while also being able to improve communities. At first I was interested in amassing a large portfolio of SFH over the course of the years that would eventually replace my W-2 income. After putting together a 5 year plan to reach my goals, I quickly realized the problem with scalability with SFH. After all, my end goal was to get into apartment and hotel investing. After doing some more research on large multi family investing, and reading countless comments about others wishing they would have tried starting apartment investing and/or syndication sooner, I came to conclusion this is where I'd like to start.

Fast forward to today, I have spent time studying and learning as much about multifamily investing as possible. I have networked and continue to do so on a daily basis and have been fortunate enough to have been tasked with finding large apartment complexes to invest in by a group of investors I met at a seminar.

With that being said, I have begun looking for deals however I wanted to ask those with more experience the best places or people to contact about potentially purchasing a complex? I know to reach out to commercial brokers, however I’m trying to determine the best way to reach out to PM about purchasing and could use some advice.

I tend to be an ambitious person, however up until this point in my life it has paid off and I will continue to work in order to keep reaching new goals I set. These investors have taken the time to teach me over the past few months and it is my goal to return that value to them by bringing them good a deal.

Any advice would be helpful. Thank you in advance.

I will try and keep this as short as possible for time and reading purposes.

I first came across real estate investing after looking for ways to earn "passive" income while also being able to improve communities. At first I was interested in amassing a large portfolio of SFH over the course of the years that would eventually replace my W-2 income. After putting together a 5 year plan to reach my goals, I quickly realized the problem with scalability with SFH. After all, my end goal was to get into apartment and hotel investing. After doing some more research on large multi family investing, and reading countless comments about others wishing they would have tried starting apartment investing and/or syndication sooner, I came to conclusion this is where I'd like to start.

Fast forward to today, I have spent time studying and learning as much about multifamily investing as possible. I have networked and continue to do so on a daily basis and have been fortunate enough to have been tasked with finding large apartment complexes to invest in by a group of investors I met at a seminar.

With that being said, I have begun looking for deals however I wanted to ask those with more experience the best places or people to contact about potentially purchasing a complex? I know to reach out to commercial brokers, however I’m trying to determine the best way to reach out to PM about purchasing and could use some advice.

These investors have taken the time to teach me over the past few months and it is my goal to return that value to them by bringing them a deal or two.

Thank you in advance.

@Gaspare U. That’s an interesting take on how to approach them with respect to asking their strategy on how they plan to better the place. I guess the next question would be the appropriate transition into asking if the owner was annoyed/overwhelmed. 
@Erik Hatch I appreciate the advice. That is going to be part of my work today. Through a quick search last night I found an LLC last however some sort of REIT LLC that I couldn't find came up so I will be doing some more work tonight. I'll also search for the APN to see if I can't get more information. As I said to Gaspare, I'm trying to think of the best way to ask about the owners without making the PM worried.

@Danny Randazzo Thank you for the advice. I prefer to be professional in all conversations with the hopes of creating a relationship in the long run regardless of any outcome. Do you happen to have a personal preference with respect to ways to reach out to pm?

Hello BP Community!

Over the past few weeks I have actively been searching for apartment complexes Ohio. I have gone through the listings in LoopNet and continue to do so daily however I know that the better deals are often found off market. With that being said I have conducted some more research and found a complex that appears to have poor management in place. There are quite a few negative comments from tenants about the property. As I was looking at the apartment's website, I saw that most of the rents are going for less than $1/Sqft. Not to mention rents of other complexes in the same area are about $25-$50 more. On a preliminary and very basic case, all of this says this could be a potential for a decent deal given the numbers work out.

The question I have is in regard to reaching out to the property management company. I went through some more research and found that a new property management company recently took over in March of this year. My question is would it be appropriate to reach out to a PM company that has recently been put in place with respect to being interested in purchasing? And more general sense, what would be an appropriate way to reach out to property management companies about looking or properties that are up for sale?

Thanks in advance.

I would agree with Remington. Start calling and getting in contact with property owners. Also I would look into getting in touch with property management companies as well. Best of luck!