All Forum Posts by: Scott Morongell

@Mojdeh Toyserkani There are so many great markets to invest in. Some of the high level qualifications investors use to determine a market are:

1. Job Growth

2. Population Growth

3. MSA great than 250k

4. Diverse job sector

5. No one employer makes up more than 20% of the jobs

6. Rent is around 30% of residents income so there is room for growth

7. Landlord & Business friendly

There are many more ways to qualify a market, in fact I wrote a blog on my site for what disqualifies a market. If Milwaukee qualifies do you know anyone who lives there? Having boots on the ground will save you a tremendous amount of headaches and poor investments. Find a market that you know some people in to help you navigate it properly. 

Dennis, many ways to find money. You have to have a story. Why of all people would they give you money? Tell your story. Be Authentic. I would start with joining a mentor group. Leverage other peoples success. You will most likely be doing a deal with someone from that group who has more experience and can qualify for the loan, etc. Tell your investors who your working with and leverage their track record and experience. It starts to lift the weight off you. You can also speak about your property management company, how many units they operate in the area. After all, they are the ones that can make or break a deal, so choose wisely. 

@Daniel Pitner How involved do you want to be as an investor? Active or Passive? You can lug it out on your own with wholesale, fix&flip, and buy&hold. Or you could possibly buy a smaller multifamily. Or you could invest passively in a syndication, kick back and relax. 

@David Ivy The multifamily B class apartments will continue to have great rent growth in 2019!

@Abner Gomez You could consider it a deal but an experienced investor may not be impressed. However, you could possibly use it with a lender for further leverage/terms.

@Sarah W. would love to hear an update on how your investing journey has gone over the last year!

@David VanWert many online site that you should be able to use on a crowdfunding site. When you do have some time I would love to hear what made you choose to invest through a platform instead of the traditional syndication route?

@Account Closed you could put Principal

@Oliver Davis I am buying in the NC markets. I can certainly do some recommending but I think you will find 2 different categories of PM companies and it'll split around that 70-80 unit number. Happy to share. Another way to find who are larger plays in these markets is to go on apartments.com and on the right hand side of the listing you will see who has posted it. I don't buy in Fayetteville but here's an example I sent to another guy asking the same question.

@Nicio Evertz congrats on joining the BP community. Lot's of ways to create a track record in a short period of time. You can also partner to take the track record off yourself and point it towards the team. Reading books is great but getting a coach/mentor is something I highly recommend. It will accelerate your learning period and surround you with people who are already doing what you want to do. The website like you mentioned is a great start.