All Forum Posts by: Todd Dexheimer

This is all about building the right team. You will not have success, unless you have a good team in place. Check out my article here as well: https://www.biggerpockets.com/...

As for those markets: Indianapolis is solid, as long as you're in good and growing areas. Ohio attracts a lot of people, but I would say Columbus and Cincinnati are the only real growth markets. Milwaukee, Chicago and Detroit are not really growth markets, so I would not be investing there.  

If you are looking to invest $250k out of state, you may want to look into investing in syndications. 

@Scott Lieberg the 3 crowdfunding platforms you mentioned are all credible. One thing to be aware of if you are raising funds, is that the platform will not be bringing you a bunch of money. The vast majority of money that you need to raise will have to come from your network. The may tout their platform as having so many accredited investors and that they have raised millions upon millions, but the fact of the matter is that this is still a trust and relationship business. I don't mean to discourage you from using those sites, because they will help bring in some funds, but just understand their limitations, so that you don't expect to have the platform bring you $5mm - $20mm.

BP made it a little more difficult when they took the syndicator title away. To find people on BP, look for the responses to syndication and multifamily questions. Also, listen to podcasts. 

Cleveland Population growth? Cleveland is one of the worst cities for population decline.  

 It's time to think creatively in order to stretch your money and buy larger properties and open your horizons or go a different direction. To me, all that I am hearing are excuses to everyones suggestions. Reasons why you cannot do it vs interest in the suggestions and questions to further your understanding. 

Honestly, I would dig into the Dallas area, go up to Oklahoma City or hit some other solid growth markets near you. If that doesn't work, I wrote an article on the best multifamily markets earlier this year:

https://www.biggerpockets.com/...

Also, check out this article on what to look for:

https://www.biggerpockets.com/...

The best way to find good apartment deals, is to build relationships with brokers. Check out this article here:

https://www.biggerpockets.com/...

Cold calling, letters, etc could result in a deal, but the vast majority of apartment owners are sophisticated enough to know the value of their building and also understand that a broker will get them more money. Unless you are going after 2-10 unit buildings, the brokers control the deals. 

I wrote an article on the best multifamily markets earlier this year:

https://www.biggerpockets.com/...

Also, check out this article on what to look for: 

https://www.biggerpockets.com/...

If you look at prices from 2006 vs today, you will see that nationwide they've kept up with inflation, while at the same time becoming more affordable due to extremely low interest rates. Supply is currently low and demand is very high, with building not keeping up with the demand. 

We need to have an inventory issue before we see a crash and that will take a while. You will need to have a large uptick in building or a big sell off by the baby boomers, as they move into senior housing. Both of these could happen at the same time, but we are still a longs ways out from that really changing the market. 

Great stuff! Individual phone calls will likely be a must for a newer investor, but getting as automated as possible early on, will not only save you time, but will allow you to raise more capital faster. 

One only thing we don't do and will never implement is the soft commitment idea. I know most syndicators do it, but I think it promotes indecisive investors and a false sense of security for me. My investors commit and we get 99% to actually fund.