Dylan and Mike interview John Casmon and discuss strategy going into 2020 and identifying hot submarkets.
John is a real estate entrepreneur, who has partnered with busy professionals to invest in close to $90 million worth of apartments. John hosts the Target Market Insights podcast where he covers multifamily and marketing insights.
Take inventory on 2019 and review the strategy going forward in 2020
It is lazy and irresponsible to stop being active in “hot” markets
Opportunity cost and inflation are huge risks sitting on the sidelines
Constantly review your deal flow, financing, business plan , and deal structure to create success
Never invest solely on IRR on paper
The savvy sponsors that truly execute the business plan will be left after the correction
Know your customers and what they are looking for towards their needs
John started his podcast to help him learn from more experienced investors
Understand the submarket level even if the MSA is performing poorly
Get ahead of the path of progress by understanding the market anchors and population growth
Find “Best Markets to Live In” and find neighboring submarkets to potentially invest in
Data is useful but leverage common sense
Resources used for National Market Research (Berkadia, IRR, Marcus & Milichap)
Resources for submarket data: datausa.io, Yardi reports, Costar reports
Expert Pro Tip: Know the legalities of raising money by checking out SEC. Build a brand to ATTRACT investor capital, instead of selling capital.
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