All Forum Posts by: Cody Barrett

Ben's course on creative financing and valuing real estate was an incredible help on how to structure these kinds of deals for me.  Really it comes down to who is in your phone. How many investors, contractors, millionaires, mentors, and the like do you have in your contacts? None? Network network network network.  Word of mouth while offering value to others will help big time.  Keep finding solid deals to bring up in conversations with those people and when the right deal hits the table you should have some interest.  

Just crushed it. Super beautiful! Great work! 

ahhhh that helps me a bunch! Thank you so much!  

Hey guys!

Quick question.  I have not walked the property yet but there is a 4 unit building that has in unit laundry accessibility.  I assume that hot and cold water lines are separated and running to each unit for that to be an option or no?  And if that is the case would sub metering the property be doable or easier with hot and cold lines already installed for each unit?  The owner pays the water bill and it is master metered currently.   

Thanks for the help

Cody

Hey gang just thought I'd share with local investors about the Milwaukee REIA Tuesday June 14th at 6PM. It is the general month's meeting so it might be a great chance to see what it is like. I have never attended and definitely plan on doing so. https://www.milwaukeereia.com/Events.aspx?ID=June-General-Meeting-48-6-14-2016

I am new and trying to accomplish my goals in real estate seems daunting so a mentor would be awesome.  What better chance than a networking event?  Hope to see you there! 

Cody Barrett  

Thanks @Scott Schultz definitely some great pieces of advice for me! 

That is for sure @Jeff Greenberg I am really looking into how the building operates right now and the income that is generates.  I am learning a few methods on how to value multi's and it is interesting. The price per door was a big takeaway for me as that was a new tool added to the belt! Thanks Jeff! 

Thanks @Brian Simmons, good heads up for sure. I am checking out a local REIA in Racine Wisconsin June 20th and will see what other investors in the area have to say. First one ever that I will be attending so I am excited.

I thought it was odd myself based on what I have been learning.  lol it was actually the first time I asked that question to a broker and her response caught me like a 3, 2 curveball. Didn't see it coming...  Thanks for the tip @Jeff Greenberg! I will definitely make a few phone calls.  I actually recently learned about the advantages of reaching out to local property management companies too.  Hopefully some good info comes from it : ) 

Thanks Jeff! 

Hey everyone. What do you guys do when an agent responds with a range of Cap Rates? Or does tell you something about the local market as an investor? I asked what the local cap rate is on similar buildings that recently sold. She said they are all over the place from 5 to 10%.. Which kind of puts me in a weird spot with trying to determine a starting point for an offer price based on the building's NOI. Still learning so I appreciate the feedback, hah!

Its an 8 unit building that I am checking out. He owns 2 right next to each other but they're being separately offered to buyers.  

Thanks,

Cody B