All Forum Posts by: Adam Mykel Cox

@Allan M., I agree with @Jim Cummings... Sign a 6 months lease that'll put them at prime leasing season and could luck up with better tenant. If they have to leave sooner, tell them that they'll be responsible for rent until you're able to secure a new tenant. 

@Usman K. I'd recommend choosing a market that'll allow for cash flow. Search in the market for partners - by partners I mean a local Realtor and Property Manager, if not all in the same. Having a Realtor/Property Manager that knows the market and not only the market but the tenants that'll be renting from you will give you a very high advantage. I've in the past had clients fly into town for a weekend and allow me to put them in my car and give them a tour of the city - that's where you'll learn the most. Things are much different when you put boots on the ground that they are from Zillow / Trulia. Do first hand research and make a mini-vacation of it... and at the end of the day the trip can be a write off! 

In a nut shell, choose a market, find a local partner you trust and pull the trigger!

I've direct messaged you both, @Dan Barli and @Axel Meierhoefer

@Axel Meierhoefer and @Dan Barli - that's a great question! I'll be happy to run it up the latter tomorrow to get a definitive answer. It's an out of state group of individuals not needing to sell but wanting to free up capital to pursue other ventures.

Thanks for letting me know @Axel Meierhoefer! I've updated a link above. Should be the complete folder.

20 Home Portfolio Google Doc Access

Click link above for all pictures and data in PDF. Any questions don't hesitate to reach out.

20 Home Portfolio offered for sale at $855,000 / $45,000 per door.

Current income is $10,239.00 per month. Two vacancies with tenants moving in in August 2018 to bring monthly income to $11,639.00 per month. One vacant undergoing rehab, one burned (will be thrown in for free if purchased before it is rehabbed.)

Taxes around $14,902.22 per year. There are some with private rent and other's receiving section 8 benefits. Majority of tenants have been long term. Each property has had updates within the last three years of ownership. For more specific details private message and I'll be happy to send you portfolio info.

@Anthony Smith I second @Denise Evans tax deed investing class. I haven't been to one in about 7 years, I took it in Montgomery for CE credit I have to complete with the real estate commission, but she does open it up to non-licensed individuals. It's an information packed class that I believe you'll find very helpful. She does have a few video's online that you can purchase too, I believe. I just had an investor I work with go thru her class not too long ago - definitely work check into her!

Most times, you still have to offer a buyer's agent a commission with this flat fee listing. You get what you pay for... as a Broker myself, the flat fee companies are very frustrating... They don't update listing statuses, we as buyer's agents still have to do some of the agency disclosure paperwork with the seller and estimated net sheets required by our RE commission - so frankly they're a pain in the rear. As other's are saying, I'd recommend finding a new or either hungry agent looking for listings to list at a reduced listing side commission - let them do all the work for you. Try looking at some of the larger offices in your area, especially ones that also facilitate real estate courses - reach out to the managing Broker and ask them to recommend a newer agent to you that would do it for a reduced listing fee - worth a try!

My investors and I are tooling around with the idea of hiring Virtual Assistant, purchasing a dialer and call lists and start cold calling into the communities. Of course, these VAs aren't licensed agents so the extent to their conversations is pretty much a survey to identify their motivation, where I (or ISA) would reach out to start the conversation. Once appointment is landed, I can take a cash offer from my investor - if they can't accept for one reason or another, then I'd offer to list their property retail (MLS.) If you've got a favorite Realtor in your area, talk to them about teaming up and splitting the cost.