554: 81 Units in 3 Years: All On-Market with NO Bank Loans w/Cody Davis
Profitable on-market properties are all around you, you just need to take the time to look. Oh, we hear what you’re saying, “all those on-market properties are bad deals!” While not all properties sitting on the MLS are home runs, today’s guest Cody Davis can confirm there are multiple cash flowing needles in the public housing market haystack.
Cody and his partner have been able to grow their portfolio to eighty-one units, all through seller financing and all found on-market. These deals not only cash flow but once paid off will allow Cody to retire not only himself but his mother as well. Did we mention that he’s twenty-one years old at the time of this recording? Another under-thirty-expert to add to our list of impressive guests!
While many investors give up after initial pushback over seller financing, Cody goes one step further by having the investor emotionally invest in his success. No tacky sales methods or pushy conversations—just honest work with a clear vision that a seller can relate to. Cody is top of his class in terms of managing properties, acquiring new ones, and working with sellers—a guest ANY investor can learn a lot from!
In This Episode We Cover:
Picking yourself up after a deal falls apart and finding another
“Relationship marketing” and how it helps sellers finance your acquisitions
Raising private capital and being sure your cash flow outweighs your debt
Having a crystal clear vision and using it to fuel all your acquisitions
Managing a property in-house vs. hiring a third-party property manager
Why cap rate may be an over-hyped, often useless metric when looking at commercial real estate
Finding real estate deals on-market when there are “no deals to be found”
And So Much More!
Links from the Show:
MLS (Multiple Listing Service) Website
Click here to check the full show notes: https://www.biggerpockets.com/show554
Learn more about your ad choices. Visit megaphone.fm/adchoices