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36:46

Multifamily Insights

by John Casmon

Each week, John Casmon speaks with real estate pros and marketing specialists to provide useful tips for multifamily investing. Listen and learn insights for market research, finding deals, attracting capital, and growing your portfolio.

Episodes

Ep. 6: Quit Your Job, Rent Your Place and Travel The World with Jasper Ribbers

40m · Published 07 Aug 01:46

Curious about using AirBnB for your home or rental? Today’s guest wrote the book on how to get paid for your pad, literally. Jasper Ribbers is the co-author of the Amazon Best Selling book, Get Paid For Your Pad – How To Maximize Income From Your AirBnB Listing. He also hosts the podcast of the same name. Jasper shares how he quit his job to move to Brazil and made $60,000 using AirBnB. He gives his tips and advice to help you maximize your income no matter where your property is located. Jasper also discusses why he sold his place in Amsterdam to invest in Columbia and the Philippines due to changing government regulations. No matter where you live or where you invest, if you are even remotely interested in AirBnB, you need to listen to today’s episode of Target Market Insights.

Key Market Insights

How Jasper quit his job and discovered AirBnB: Moved from long-term rentals to AirBnB and tripled his income
How to get started on AirBnB: Free to create a listing, Do research before you start, Check out Jasper's blog, Get momentum quickly, New hosts get a temporary bump in platform visibility, Create a great listing
Mistakes new AirBnB listers make: Listing without understanding what guests want, Have never stayed in an AirBnB, Poor photo quality and choices
AirBnB will send out a photographer for free to take high quality images of your place
How to create a top-notch guidebook: Details on the neighborhood; Your personal suggestions on coffee shops, art galleries, and other local attractions
Changes in regulations that affect AirBnB businesses: Larger cities with housing shortages are cracking down including Amsterdam, London, Paris, New York, San Francisco, and Chicago,
Factors when considering locations for AirBnB properties: Doesn't have to be a tourist destination, Create a high-end experience in regions that have fewer of those options
Jasper purchased apartments in Carabao Island, Philippines anticipating increased travel demand from China; and Calí, Columbia to provide a luxury experience for US and European travelers.
How to find a property manager: Start with your personal network, Find relevant Facebook groups to post your requests, Short-term property management companies, Connect with other AirBnB hosts within your region
Is your spot a good fit for AirBnB? Ask yourself if there are hotels nearby, Search AirDNA for reports about your area, Use sites like Expedia and Priceline for research, Consider multiple travel trends of the area (outside of tourists)
How to stay on top of AirBnB trends? Listen to Jasper's podcast, Use Google Alerts, Join Facebook Groups

Resources Mentioned

AirBnB.com

AirDNA.com

Expedia.com

Priceline.com

Favorite Destination: Brazil

Favorite Place to Eat: Thailand, a dish called Phat si-io (Pad See Ew) http://www.thaitable.com/thai/recipe/pad-see-ew

Tweet This:
"If the pictures aren't great, people just won't book." -- @GetPaidForUrPad #AirBNB

“It’s not just the big cities doing well on AirBnB, it’s business travelers and people visiting families” - @GetPaidForUrPad

“People choose AirBnB to have a local experience; the host is the perfect person to help deliver this experience” - @GetPaidForUrPad

Connect with Jasper

Website: www.getpaidforyourpad.com
Podcast: https://getpaidforyourpad.com/podcast-2/
Twitter: GetPaidForUrPad
Facebook: www.facebook.com/getpaidforyourpad
Email: [email protected]

Leave us a review and rating on iTunes or Stitcher for a chance to win a copy of Get Paid for Your Pad by Jasper Ribbers or Best Ever Real Estate Investing Advice Ever by Joe Fairless. Be sure to check out more info at TargetMarketInsights.com

Ep. 5: How to Master your Market with Brie Schmidt

41m · Published 07 Aug 01:38

When evaluating deals some investors are data driven analysts, while others are instinctual entrepreneurs….or so it may seem. After starting on the north side of Chicago with a couple small apartments, Brie Schmidt expanded to Milwaukee and quickly grew her portfolio to 90+ units. She also helps other investors through her brokerage firm and her website Turnkey-Reviews.com. Brie may tell you the growth was driven by gut instincts, but the reality is her instincts are refined by constantly studying the market. Listen as she shares the daily habit that allows her to seize opportunities, take decisive action and master her market on this episode of Target Market Insights.

Key Market Insights

Purchased initial properties in 2011 on the north side of Chicago
What attracted her to the initial property: projected development pre-2008 crash; close to public transportation stops; close to hospitals, 2 universities, and large park; area's infrastructure set up to be a high quality neighborhood
Know your market to make a decision that allows you to sleep at night
Advice to Clients: 1) Set up alerts on Redfin, Realtor.com, Zillow, Trulia, 2) What properties move off the market quickly, 3) Which properties move more slowly?, 4) What are the rents in the area? 5) What units are renting out and in what condition?
#1 Tip for new investors: Do the above research every day for 20 minutes. You'll start to internalize the data.
Her baseline for choosing properties in Milwaukee: Wanted to develop a cash flow portfolio for her out-of-state investments, Wanted high ROIs, Safe neighborhood, Area had her preferred tenant class
Brie’s Milwaukee portfolio: initially Purchased 18 buildings (total of 50-units) within a 10-month period; Now has partners -- including 30 buildings within a 5-mile radius
Key reasons people sell in her Milwaukee market: trading up, live out-of-state, mid-level investor looking to divest themselves of properties and exit the market
More about turnkey: bad experience led to launch of a turnkey reviews company with a partner
Tips to inspect out of market property: use a site like BiggerPockets.com to pay another investor to go sit in on an inspection for, consider using a 3rd-party disinterested party to at least see the property for you
How to stay on top of market changes: set up alerts for Aldermen/Councilmen, look through MLS listings daily, set up Google Alerts on the neighborhood
Tips to help investors win in their target market: know your market, be quick, be confident in your decisions, have the right expectations of the process

Tweet This:
"Historical data doesn't help you look at future trends." -- @ChicagoBrie

Resources Mentioned:

TurnKey Reviews www.turnkey-reviews.com

Bigger Pockets www.biggerpockets.com

Places to grab a bite in Chicago:

Lou Malnati’s for Pizza https://www.loumalnatis.com/

Portillo's for Italian Beef (dipped) and Chicago Hot Dogs http://www.portillos.com/our-story/

Connect with Brie:

Website: http://www.chicagobrie.com/

LinkedIn: https://www.linkedin.com/in/briannaschmidt

Ep. 4: Investing in Undervalued Markets with Tony Hardy

42m · Published 07 Aug 01:34

The headlines paint the South Side of Chicago as a war zone, but today’s guest shares that parts of the South Side are not only welcoming, but also thriving. Tony Hardy is a senior associate at Marcus and Millichap overseeing multifamily investments primarily on the South Side of Chicago. He’s helping out of market investors obtain high yields and explains why South Shore is one of the must-undervalued neighborhoods in the Midwest.

Key Market Insights

Value of a broker to clients: Help with buying, selling, and financing
What it takes to field an offer: understand the players involved, provide appraisers with local data, understand what lenders are looking for
Tony’s role with Marcus and Millichap: Focuses on the Chicagoland area and surrounding markets, aims to add value to what investors are already doing in a market, helps investors structure debt, offers information on what an investor’s competitors are doing
Marcus and Millichap provides services as a Mortgage Broker and Correspondent Lender
How to maximize the value in your properties: Pay attention to monthly costs in utilities, etc. where you may be overpaying by $100, which could equate to a loss in value of $15,000
A few of the most undervalued markets in Chicago: South Shore, Englewood, West of Englewood (Marquette Park)
Economic indicators in Chicago: small percentage of population moving to find jobs, Google jobs created influx of high-income earners (e.g. – young professionals), 9 Fortune 500 companies
Trends and Growth Projections: Obama Presidential Library in South Shore, Major retailer moving into Woodlawn bringing 200 jobs, Major grocer moving to 71st and Jeffrey bringing 200 jobs, Spanish and Chinese joint-venture investment to build 15,000 on the south side near the lake front, Projected development at 39th and King Drive around Mariano’s
Key indicators for investors: Increased rents in one neighborhood have a cascading effect on neighboring areas
Tony’s daily habit: Gets up early to think about goals and write them out

Tweet This:
“If you overpay for any service by $100 per month, you decrease the property value by $15,000 at an 8 cap" @isellapartments

Best Places to Grab Food:

Au Cheval - http://auchevalchicago.com/

A10 http://a10hydepark.com/

Beatrix - http://beatrixchicago.com/

Connect with Tony:

Website: http://www.marcusmillichap.com/

Twitter: www.twitter.com/isellapartments

LinkedIn: https://www.linkedin.com/in/tony-hardy-aab46715

Ep. 3: Capital and Community Investments with JR Foster

34m · Published 06 Aug 23:28

Today’s guest is passionately committed to the betterment and development of Cincinnati, sitting on numerous boards and working with developers, investors, bankers, government officials and corporations. JR Foster is the co-founder of Robert Louis Companies, one of the only minority-owned certified full-service commercial real estate brokerage and capital markets firms in the country. He seamlessly navigates the private, public and non-profit sectors to stay at the forefront of changing neighborhoods and development opportunities. Find out what he sees in his target market and how you can implement his strategies and techniques on this episode of Target Market Insights.

Key Market Insights

Studied economics as an undergraduate and had early career opportunities at a commercial real estate brokerage and in investment banking
Capitalizing on a void in commercial real estate to help organizations meet their minority-based vendor goals through their 3rd largest expense
Robert Louis Group is one of the only Minority Business Enterprises in the country that offers a full suite of services: Brokerage, Capital Markets (Commercial Mortgage banking), and Facilities Management
RLG has just rolled out an On-Demand Maintenance Service for homeowners, investors, retail, restaurants, and hotels in July 2017 (currently available in Cincinnati, Chicago, and Phoenix)
Major areas of development in Cincinnati: Over the Rhine (OTR), Walnut Hills, Madisonville, West End, Avondale, Evanston
Some investors look to rehab historic buildings abandoned for decades, improving properties and raising depressed rents
Resources for market trends and growth in Cincinnati: Port Authority, Redi (via Cincinnati Chamber of Commerce), special interest groups in each area/neighborhood (e.g. economic development groups), noticing where government is investing via TIF funding
Who does JR connect with to stay on top of market changes? Government officials, early stage developers, banking professionals, and corporations (who’s moving in and where)

Tweet This:
“Minorities make up less than 0.0001% of any position in large commercial real estate banking.” - @MrJRFoster

“Look for neighborhoods that have been identified for TIF funding.” – @MrJRFoster

Resources Mentioned:
On-Demand Maintenance services
Redi http://www.redicincinnati.com/
CityLink https://citylinkcenter.org/about-us
Changing Gears https://www.changing-gears.org/

Places to Grab a Bite in Cincinnati:
Zip’s Café http://www.zipscafe.com/
Just Q’in http://www.justqin.com/
Boca http://bocacincinnati.com/

Connect with JR:

Website: http://www.robertlouisgroup.com/

Email: [email protected]

Twitter: www.twitter.com/MrJRFoster

Ep. 2: Quit Your Job Through Partnerships with Andrew Campbell

32m · Published 06 Aug 18:46

This Austin native quit his job after turning his sibling rivalry into a perfect partnership. Andrew Campbell and his brother formed a partnership to snowball a couple duplexes into 276 units in the red-hot Texas market. Andrew is the co-founder and Managing Director of Wildhorn Capital, a Multifamily Syndication Company focused on buying value-add properties in Texas. Learn how Andrew found his sweet spot in South Austin before expanding to other parts of Texas on this episode of Target Market Insights.

Key Market Insights

Approach real estate investing with a get-rich-slow mentality
The anatomy of a syndication deal: Andrew’s company functions as the sponsor, he finds investors to raise capital and downpayment, gets a loan on the property, profit shares with investors, his company manages the day-to-day
Start your journey in real estate investing by acquiring properties in local areas most familiar to you
Andrew’s winning formula for getting the ROIs he wants: acquire properties that attract families, seek out long-term, low-turnover tenants, raise the rents aggressively while staying below market
Looking to invest in the Austin market? Define your investment criteria, Properties in city limits have massive appreciation less of immediate cash flow, Rapid growth in 78704 zip code, Some investors look in the Northwest and Northwest suburbs (e.g. – Georgetown, Round Rock, etc.)
How to view the city’s layout and tenant classes: Described as 1) East or West of I-35 and 2) South or North of the Colorado River
Tips on infiltrating a new market: meet with local brokers, attend real estate meet-ups, conduct research on the area’s job growth, population growth, and trends over the last 5 years, utilize the Department of Labor and Statistics site
A look at the San Antonio market: massive growth in North and Northwest market, growth in the suburb of Boerne
Overall thoughts on navigating Austin and San Antonio: Define your own investment criteria, know which properties don’t fit your model of doing business
Andrew’s tip for staying focused on goals: Write out what you want to accomplish the night before using pen and paper

Tweet This:
Leveraging the relationships and insights of brokers is a great way for new investors to stay on top of market trends.

Connect with Andrew:
Website: www.wildhorncap.com
Email: [email protected]

Ep. 1: Finding the Path of Progress with Tryfon Christoforou

30m · Published 06 Aug 05:57

Tryfon Christoforou harnessed his family’s 30 years of development experience to co-found 3CRE, a commercial real estate brokerage firm that has completed over a billion dollars in transactions. He focuses on commercial apartments, helping out of market clients navigate Cincinnati to find the best investment for their goals. Find out why Tryfon sees Cincinnati as a stable market and which sub markets he’s identified along the path of progress.

Key Market Insights

The Cincinnati Market: huge corporate footprint, job stability and growth, attracting young professionals, street car development, Millennials moving back into the city, growth mimicking that of Charlotte, NC
Revitalization and development in neighborhoods: East Walnut Hills, Multi-family properties along the Montgomery Road Corridor
Montgomery Road Corridor may include: Norwood (near Hyde Park), Pleasant Ridge, Silverton, Deer Park, Kenwood
What you should know when considering investments in Cincinnati: ROIs are more like 9%, Market is competitive nationally, invest with stability in mind
Why are people attracted to the city? Welcomes everyone, city retains and attracts companies, more land, proximity to airport, mixed-use buildings, able to open distribution centers and warehouses
What drives stability in Cincinnati: Jobs, population density, city’s revenue streams are based on professional/resident spending not tourists
Discovering Tryfon’s personal investment markets: Hyde Park neighborhood and Madeira, Ohio
5 things Tryfon learned growing up in a family of real estate investors: 1) Real estate is not easy, 2) Know what’s going on with your properties, 3) Set criteria for investments and returns, 4) Know when to sell and when to buy, 5) Diversify your portfolio
Final tips on investing in Cincinnati: Start small; get to know brokers, property managers, attorneys, and accountants in the city

Tweet This:
“Healthy job growth and population density supports a healthy city.”

Connect with Tryfon:

Website: www.3cre.com

Email: [email protected]

Multifamily Insights has 616 episodes in total of non- explicit content. Total playtime is 377:31:54. The language of the podcast is English. This podcast has been added on October 28th 2022. It might contain more episodes than the ones shown here. It was last updated on May 17th, 2024 19:11.