All Forum Posts by: Caleb Bryant

@Michael Balducci we just closed another one in Huntsville today! Congrats on the contract. Lots of good things happening in our market but the BRRRR strategy has been the most effective for my investors lately, lease options for me and my partner personally.

@Thomas Hickey I just had a meeting with a Montgomery investor yesterday that is looking to get into multifamily now (currently has 20+ paid off sfr units in Montgomery and lives there).

@Frank Patalano I just kept showing up to networking events even though it was uncomfortable, which eventually led to me getting better at it. Some of those meet ups were in Huntsville yes. I did not take a class on the subject though haha

@Vincenz DeCastro Austin is a pretty tough market, so yes people are overpaying and you’re not crazy. At the same time, 10% vacancy is probably not accurate to your market, so why are you underwriting with that number? Conservative is good but if your market is consistently at 95% conservative might be underwriting at 93% and checking to see how things looked occupancy wise back in 08-10 to double check bad scenarios.

@John Casmon well said, I was going to say of verbal commitments is “raising” than I’ve raised many many millions. This is just the first step!

@Account Closed my main question would be, are we doubling the cash or can it be in the form of equity? Because BRRRRing large multifamily deals has worked very well for me in Birmingham, Alabama and other similar markets. The way I’ve done it (and I’ll start by saying not to the 10 mill level yet haha) is buying buildings with my team at 65% of refinance value, then pulling the cash out 6 months later and repeating. In the last deal I put in 50k, got my money back in 5 months but also have over 200k of equity left in the building plus cashflow. So the strategy to hit 10 million would be to not share the deals with joint venture partners, which means my equity in that same deal would have been worth around 1.5mm. Then do this several times and you hit the number in less than 5 years. Literally makes more sense to put in smaller chunks of your own money though in my opinion, so cousin joe would probably get his money back haha

@Phillip Ballard I know several people who own or have owned multifamily there in the past. You can also look at some posts from Nashville because a lot of those investors (that live in Nashville) invest either in Chattanooga or Clarksville as well.

@Kevin Cedeno man I do NOT fit in based on Hampton Cove Nic, but that’s where I live so I guess I better buy a sweater haha

@Frank Patalano at the very beginning what held me back was fear of networking, had to get over that really fast though haha.

@Terence Lee what size multifamily are you looking for?