All Forum Posts by: Kody Fordyce

Have you looked at Oklahoma City? That price point is doable. There is a great provider there that offers in-house management as well. 

Have you looked in the Oklahoma city area? It is a stable market and relatively low acquisition costs. 

Tiffany, 

It would be great to grab coffee, Fill free to send me a PM.

-Kody 

Welcome Tiffany,

What are your goals for REI? Rentals, fix-n-flips? What kind of budget are you looking at?

Kody 

You are right that BRRRR's work better in some markets than others. Sometimes they require a lot of sweat equity to make the numbers jive. Are you interested in doing some short term fix-n-flips to build some additional capital up?

Kody 

Welcome to BP Alante,

What are your goals? Are you looking for fix n flips? Rentals? Where are you looking to invest? What is your budget?

-Kody 

Lindsey,

That is a tough one. We do the majority of our rental business in the Midwest (OKC, Indianapolis, Jackson) and we require that the turnkey / rehab companies that we work with have their own management in house. Meaning they are a full-service provider. They acquire the house / apartments, rehab them, have the strong financial sector relationships so that you can finance them and have their own management in-house. That is the only way we can provide the highest level of customer service to our investors. This is crucial when the majority of our investors live out of state. Please let me know if you find a good one in Toledo. 

-Kody

Teddy,

I would say that depending on the capital that you have in place, your best option is going to be leveraging your funds and get involved in the Midwest (Indianapolis, Oklahoma City, Kansas City, Jacksonville MS etc...), which is where we primarily operate. There are several options for you depending on what you would like for your level of involvement. You can invest in something as passive as our perpetual funds. We offer Bridge Loans, which usually yield 15-20% returns and can go anywhere from 1-12 months depending on the project. There is also plenty of opportunity for single family turnkeys (12-16% +/- Cash on Cash returns), multifamily apartment buildings and trailer park value-add’s. We are helping a client right now with a series of 1031 exchanges and are doing a combination of projects to meet her monthly income needs. You are able to buy single family turnkeys for 20-30k down that will cash flow on average $300 /mo after "The Big 6" (mortgage, taxes, insurance, vacancy, management, maintenance) have been paid. We have also found as a company to only work with companies that have everything in house (acquisition, contractors and management) I bolded management because that is crucial, as soon as they farm it out, it can lead to many headaches.

Please feel free to message or call me if you have any questions.

Kody 

Anita,

We have several different preferred partners in the Midwest (OKC, Indianapolis, Jackson, Oklahoma) that we have fully vetted in person and have invested in ourselves. Please fill free to message me if you'd like to chat.

Kody 

In a perfect world, high cash flow and high appreciation going hand-in-hand  would be great. Unfortunately, higher appreciation can mean more volatile markets. West / East coast are prime examples of that. Betting on appreciation can be bad news. I have chosen to focus more of my rental acquisitions to the Midwest markets where you'll see 1-4 % appreciation per year but the cash on cash is more in the 12-16 % and are in more stable markets (OKC, Indianapolis, Jackson, Kansas City).