554: 81 Units in 3 Years: All On-Market with NO Bank Loans w/Cody Davis
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 6 January 2022
⏱️ 66 minutes
🔗️ Recording | iTunes | RSS
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Summary
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
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Transcript
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| 0:00.0 | This is the Bigger Pockets Podcast Show 554. |
| 0:05.0 | And the big thing that I see that people do is they will justify buying something that's off brand for them |
| 0:12.7 | because it made sense for someone else's story. |
| 0:15.3 | And so if your goal is to have 10 single family houses, it doesn't matter what Cody does, buying apartment buildings. |
| 0:20.8 | You don't replicate that. You go buy your 10 houses. |
| 0:23.9 | Stick to your goal, stick to who you are, |
| 0:27.2 | because your story is worth more than any asset you're ever going to buy. |
| 0:30.8 | It allows you to start over if you need to. |
| 0:32.8 | What's going on everyone, this is David Green. |
| 0:41.8 | You are host of the Bigger Pockets Podcast. |
| 0:44.4 | And you aren't here because life isn't meant to be live inside of a cubicle. |
| 0:48.9 | At least that's what we believe here at Bigger Pockets, that real estate investing is the most efficient path to generational wealth. |
| 0:55.2 | Even if you're not starting with a ton of money. |
| 0:58.0 | And we prove this by bringing on guests who show that it's not only possible, |
| 1:01.2 | but inevitable that if you get educated and take daily action, |
| 1:04.6 | YouTube can be as successful as you'd like to be. |
| 1:07.3 | I'm here today with my co-host Henry Washington, H. Wash, the Arkansas wonder, Henry, what is going on? |
| 1:14.9 | What's up, bud? It's so good to be here, man. This is so much fun. |
| 1:18.4 | What an amazing opportunity. Thanks for having me. |
| 1:20.9 | If you're listening to this on YouTube, check out Henry's shirt and hat. They're branded with his name. |
| 1:25.9 | I love this, right? He's got an H and a W also in the shape of a house, |
| 1:30.8 | which is super cool. If you look closely to Hs in black, the W is in white. |
... |
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