All Forum Posts by: Todd Pultz

@Kyle Arendsen good advice! One of the few things I disagree with @Brandon Turner with........You need to ALWAYS be looking for the home run, but have criteria for what your willing to accept if you can’t find that homerun! There are still plentiful deals out there despite everyone talking about the right market. You just have to work and acquire differently and it takes a little more grind.

Kyle, we invest in Columbus and you can find solid properties, but columbus prices have spiked also. You should focus more in secondary markets like Dayton OH and places similar. We have hundreds of properties in Dayton that are cash flow monsters. We still buy quads turn key in Dayton for 110-140k. We pick up brrrr quads for 60-70k needing 20-30k rehab. If cash flow is your goal, secondary markets are a better option. Most of my realtor clients in Dayton, Cincinnati and columbus have really good success 

@Keanalyn Wolford simple............I love investing without using any of my own money! $0 in the game and then cash out refi at 6-8 months. We focus on large multifamily with this strategy!

However recently I’ve become addicted to land flipping and developing pocket communities.

@Nathan Barshinger Joe @Joe Villeneuve hit the nail on the head. When you start with shaky credit, low capital or low experience, you have to be creative in how you compensate for the deficiency! Owner finance, lease option, capital partners, etc. are all ways to do it. Way more options but you could trade a goat for down payment if you talked the right owner into it.

@Joe Villeneuve absolutely and I Hope most on here understand that. Cash on cash return year 1 should always be a criteria for analyzing a deal. For those of us that use 0 of our money and utilize private lending, the game changes a bit. However if your buying a value add property and able to successfully refinance out you must understand that model. You can take a property that you “over payed” for in the current state and turn that into a property 6-12 months later that you “under payed” for. Now that is a simple statement and I’m not going to bore anyone with numbers, but simply using actual cost and total cost is not always a winning formula. If your doing a simple retail purchase your formula will always win. If your creative, its bit more complicated than just looking at those two components to determine if you over payed or under payed.

@Brent Zande I don't disagree with you at all! However, as much positivity and great information this forum and all the podcast have, they also do some damage for new investors. All scenarios at times make these new investors believe this process is easy! Best example is the hype on BRRRR. While I use this strategy, it is very difficult for new investors to completely understand how to do it and to understand this process is not as easy as it appears on the surface! So, while TV shows simplify the process, so do many forums and podcast. Experienced investors need to provide good feedback and steer new investors into the right paths for success.

@Nadia O. @Antony Charlier @Joe Splitrock

I’m going to go against the grain here a little bit! Hear me out! While I agree, location buying ugliest house in best neighborhood sounds great on TV and Is a great strategy for flipping properties, this is not always the case for multifamily investing. Multifamily investing is about achieving your goals!

Antony, you first have to define your goals and decide if your looking for highest cash flow or highest appreciation and you have to decide what class your comfortable investing in. If your looking for highest cash flow, this will never align with the best location! What is your goal?

It’s also important to remember that 5+ units is commercial and based heavily on income, so you can drive your appreciation on a property through effective management. Our focus is C class and I will tell you that our best performing buildings for cash flow are in areas that scare most people. However, we know how to manage these and we do not shy away. You will find your best cash flow and best deals in C class that have been poorly managed. But, you have to know or have a property manager that knows how to manage this class because you can get bit quick. Getting to 5k, 10k passive income monthly can be done quite easy in C class through hard work and it can be done in a short time frame. You have to educate yourself and find the really successful investors that are doing what you want to do

If you have high cash flow, you can can reinvest that money into higher appreciation properties. With proper investing through using cash flow, you can create an enormous amount of wealth and financial freedom.

And, I disagree like @Joe Villeneuve with basing your strategy on list price. Again, define your goals and put deals to pencil & paper. If the numbers pencil on paper to achieve your goals it doesn’t matter what list price is and sometimes you pay more and sometimes you pay less, but knowing your numbers allow you to be competitive instead of being another person on this forum complaining about people “overpaying” for a property.

@Sean Witherspoon suck it up, clean your unit, rent it out and never sign a long term lease as you do not know what our real estate market may do year after year. That’s also horrible for an exit strategy! I’ll explain

We purchase large multifamily and we have negotiated 100k off a deal just because of leases. If you decide you have to sell it, a lease can throw a wrench in the deal as the new owner does not want to be locked in for 5 years without being able to raise rents. We’ve walked away from deals due to this. 12 months is plenty

@Nick Voyer congrats on being motivated to jump in! There is some advice here, but let me give you some different advice.

Everyone in the internet, including here, can tell you how to get rich and be a millionaire! Everyone can tell you the right tactic! They can tell you you can’t buy real estate unless you have money, they tell you to save up and take time reading 3000 books! I’m not going to tell you that.

My suggestion, find a well accomplished real estate investor in your area and go work for free. Bird dog for them! Make some commission off them, but suck them for every ounce of knowledge you can get while helping them find deals. That will be worth more than anything else. Remember, take what you hear on here and mix with real life experience to determine the path you want to lead. Once your in the game, deals find you.

Don’t hesitate. Educate yourself and let’s get rolling. Message me anytime if you need anything at all. Good luck to you

@Brent Zande yes not completely real or completely factual, but who cares? These shows are entertainment and have motivated a lot of individuals to get moving. Most of these “stars” are actual real estate investors and were able to gain attention and get a show! Great for them, no need to beat them up for finding another income stream!

We are all smart enough to decipher what’s truth and fiction and smart enough to understand that the general Public does not care you had to pay $37 for a electric bill during holding etc.

I love all the shows and watch often, but that is not where I mentor young investors to get their education from