All Forum Posts by: Austin Works

@Greg Dickerson what would that leave for me to do? Some of these roles are somewhat broad, so what tasks would you think are best for me to hang on to?

I have been flipping houses and small multi-family, while maintaining a day job, for two years now, and I am looking to grow my business. There are many things that I know should be getting done, that I simply don't make time for currently, so I am looking to hire someone to help move my business forward. What is the typical role for a first hire in a flipping business? 

@John K. would you mind sending me a copy of the exhibit you are referring to?

Can I use a commercial purchase agreement to buy a package of single family houses, or will I need to fill out a purchase agreement for each house? 

@Robert Hernandez your rent really depends on your competition in the immediate area. If your property is slightly nicer than those around it and you are asking for mid-range rent, you do not need to adjust your rent. If your property is not as nice as those around it, then you will need to be at the lower end of the rent range for the area to attract tenants. I would recommend posting on Zillow, Craigslist, HotPads, Facebook - everywhere. And yes, definitely a "for rent" sign. Your property manager may have the mindset of showing the unit to only highly qualified potential tenants (which is appropriate for them to do unless you tell them otherwise), while you may be open to slightly less qualified potential tenants for the purpose of filling the unit faster. Be sure to communicate your goals to the PM so they know what you want. 

Are you taking the calls and handling the marketing? If so, it can be a matter of just converting more of your leads to actual showings. Give nothing more than the bed/bath count & rent price over the phone, and recommend setting up a showing of the property. On the flip side, qualify anyone before showing the property so that you don't waste time on someone who won't qualify anyway. Facebook usually gets the phone ringing more than you want it to, so you should find a tenant fairly quickly at this point, assuming that your property is as nice as those around it. 

I would say that if you still project to be profitable after factoring these additional repairs, then just finish this one out so you will remain on this agent's list for future deals that come up. He/she may not call you you on the next deal if they think you will be difficult to work with. 

I am looking to hire someone to find deals via driving for dollars, and maybe even convert into viewing/making offers on properties for me. How should I structure something like this? Should I look for a general assistant and pay them a salary, or pay someone commission for performance?

@Dwayne Jelks Jr. if you are looking for SFR, I would recommend creating habits of texting the same REO agents every week, the same wholesalers every week, posting on Craigslist every day, sending direct mail consistently, bidding on auction properties at the courthouse consistently, placing out bandit signs consistently and making sure you do all of these things CONSISTENTLY - that is the key. Remember, the squeaky wheel gets the grease.

@Dwayne Jelks Jr. - you have to first identify what types of properties you are looking for. Are you looking for flips or rentals,single family of multi-family, high end or low end?