All Forum Posts by: Autumn Alexander

Hey @Anthony Simboli! I use all of the tools google has to keep track of our documents and files (drive, sheets, docs, etc).

So for instance for our lead organization & management, I clean the lists up in google sheets and then download as a .CSV file and upload into Airtable (google sheets on steroids) where its easier and cleaner to manage.

I use Airtable to manage our raw leads data - I have a trigger set up, that whenever we change the status to "qualified", that lead will go into our CRM (Salesmate.io) where we track our contacts and deals.

I also like to use Trello to keep track of projects.

@Wayne Brooks I am aware of the requirements for STR's in Miami Beach, and I definitely plan to do it the right way (permits, license, tax, etc). I have found several units available in the correct zoning that allow daily rentals, so finding a property to do this strategy; I am not worried about.    

Thank you for your recommendation, I'll look them up. 

@Dan Gamache I am purchasing a condo on miami beach to do daily rentals....so buy and hold. Honestly, I don't have much for a down payment - my fiance and sister n law have agreed to help with upfront costs - they are very supportive. The loan was going to cover purchase and rehab. Condos I am considering are between 90K and 150K. 

Thank you all for your response. Do you have any lenders that you personally recommend?

So it's my first time getting a loan of any kind. And I want to make sure no one is trying to take advantage of me or scam me. I met a private lender on LinkedIn.

We exchanged drivers license and he shared his Articles of Incorporation with me. (I also googled it, and it's an active LLC.)

I wired him the origination fee of $1700 and he sent me this email this morning:

"The loan has been originated and documented and all process from my end has been completed for funding. A new policy has been implemented so my attorney and the bank has made it clear that the next thing before funding can be fully carried out is to have the loan insured in your name, the reason for the loan insurance is to protect you against any future lapses or default from your end to make repayment on time, the loan insurance policy need to be obtained in order to get funds across to you and the fee to have the loan insured is $3000 and the process will be completed before 24 hours.

You need to make this payment today so we can finalize the loan later today.

I await your response ASAP so we can proceed with the loan transaction.

Note: The insurance fee is 100% refunded at the point of funding and you are expected to receive the insurance fee to be added to the loan amount at the point of funding (a total sum of $178,000.00 as against $175,000.00."

I dont know much about loans..

Is loan insurance normal? Is this how this process works?

Thank you all so much for your timely responses, and great advice! I feel I can make a smart decision now.

Hope you all have a fantastic Thanksgiving!

Hello, I'm looking for a company/system that does background checks for renters.  Does anyone have any recommendations? Thanks!

@Zubair Ahsan I have a few tools that I really like. REIFAX is one of them. There estimates are pretty accurate. It cuts down on a lot of my research. Youll have to check if they cover the areas you're looking at. Dealcheck.io is another I use to analyze flips and rental numbers. REIKIT is good for comp analysis and adjustments.

@Matthew John Yes get it under contract. Once you have it under contract you can blast it to your buyers list. (WHICH YOU SHOULD CONSTANTLY AND ACTIVELY WORK ON GROWING). Then get your buyer to send money to escrow. Then apply for transactional funding. Transactional funding is funding to make the deal happen for you. It is short term....5 minutes to 2 days. My transactional lender covers 100% of my purchase cost for the A-B closing....charges 1% fee and $50 wire fee. He only requires that my end buyer has sent the funds into escrow for the B-C closing to take place. So...in the A-B...I "bought" the house (using someone else's money) for a few minutes, and then in the B-C, I sold it to my end buyer. For cash buyers, you can research properties that have sold for cash in the last 6 months and send out letters saying something along the lines of I'm a wholesaler, I come across great deals, reach out to me if you're interested in receiving info. Reach out to investors on BiggerPockets, LinkedIn, even Facebook groups. Attend local meetups and REI's. Hope this helps!!

@Steve Sun I would consider Nashville, and even it's close neighbor, Clarksville. I lived in this area for over 10yrs. GREAT area for rentals.