All Forum Posts by: Ben Frink

Sounds to me like you need to make a call based on your gut feeling. If you are worried about them enough to post about it on here, you are probably leaning against not renting to them and 1 of them is unqualified so that should make the decision to reject their application easier. In this crazy market its not uncommon for people to be offering extra cash to secure a good rental because there isn't much to choose from around here. Be careful how you word it though because by law here in RI we can only accept a security deposit equal to 1 months rent and no more.

If I were you I would wait for a new applicant unless your gut is telling you otherwise.

Hey do not give up! Especially if its your first DM campaign. Maybe you should try to diversify your leads list maybe try high equity and seller carryback leads and track which ones work better. You also gotta understand absentee is highly saturated with other investors from RI( at least a couple of the investors i know locally all do absentee from listsource) And also Im from RI and i get tax lien lists for free online so you can use zabba or something like that to get their numbers maybe addresses. Full disclosure I havent done my own DM campaign yet so take everything i say with a grain of salt. Also if you read a little bit more or listen to jerry puckets podcast almost everyone says it takes 3-6 touches before most people get good results and tbh if you havent sent out 1000 letters yet and you got more than 10 calls thats actually better than i hear from most on their first try. Good luck and stay motivated!

Most people do not even mind spending $25 extra a month even if its not refundable especially if they really like the place.

We just increase the months rent for a pet deposit. So if you wanted a pet deposit of 500$ per year and the rent is $1000 a month. make the rent $1040 per month and ask for a $1020 security dep. although $500 seem to be a lot I was just using as an example. most of our investors only ask $25 a month for dogs over 20 pounds. Just be careful of the wording and remember its a deposit for damage its not going to increase your gross income since it should be refundable.

We draw up a promisary note for first month,last and security deposit for our RI rentals. But we usually only do that if the tenants a first time renter,self employed,or just recently started a new Job. 

Hows it going BP nation? First i wanna say THANK YOU to all BP workers especially Josh and Brandon.Ive listened to every single podcast out and theyre super informative even if its subject isnt your niche. Ive met a couple awesome investors through here when i was first starting and realized shortly how possible investing in real estate is even though i work 40-50 hours a week. So earlier this year while trying to come across an investor friendly agent and one that might let me use their MLS , i had a knock knock moment where i realized i like my job i have now but its really a dead end job and even though im compensated fairly I just need to start working on a career. I really started with initially wanting a buy and hold portfolio that would supplement my annual income and I still want that but I dont see that as possible for at least 5 years. SOOO I decided why not become an agent and realllyyy get to know more than just the investing side. Once i started my prelicense class I noticed how completley different both worlds are. Investors and agents have different outlooks on situations. So long story long I decided to hold my license in a brokerage that specializes in property management that way ill have some decent experience before purchasing my first buy and hold.Im working with retail buyers and doing tenant screening and placement which i would suggest to anyone to start out doing. You get to see what sells/rents in your market and licenses arent really expensive to obtain and hold. Ive taken MLS classes to learn better ways on running my comps. I also have gotten names and numbers of local hard money lenders in my area and while doing that i also found a private investor. Im lookin to do a flip or two a year but in my market the deals get scooped up within hours sometimes and im just not ready to act as fast as i need. I also have talked to a couple GC's that ive seen do quality flips in a fairly timely manner. I would like to just find one or two more so i can get at least three bids before choosing. blah blah blah i could type for hours especially while listening to repeat podcasts but ive got work to do. So if any investors or want to be investors need a lil push or some positive reinforcement dont hesitate to shoot me a message. Once again THANK YOU BP!!!!!

Thanks Andrew I have done a few practice ARV's through Zillow. Im currently looking for a good realtor that wouldn't mind talking to a beginner and also actually has the time too.

Hows it going folks?

So the title says the question. im aware of the process to get the ARV but am I able to get the figures of homes sold in my zipcode without the assistance of a realtor?

Thanks for all the replies!

Im definitely going to the next RIREIG meeting maybe ill see some of you there.

I've downloaded and read most of the UBG for BP and there is LOTS of helpful information. Im pleased to have found such an awesome forum where people enjoy lending a helping hand.

hows it going all!? My names ben im 23 frok rhode island and i have several questions id like to ask. Ive been looking for online forum for real estate seeking moral support. Ive been doing as much research as possible and have gotten a cash buyer thatll pay me 500-1000 per deal i bring him that he purchases.

Now one of my questions is...

Im 23 so i still got alot of time to learn but im really curious if its worth me getting into real estate considering i work a steady 8-5 monday thru friday. Its a good job just not really career material. Currently it pays my rent and i get health insurance for me n my daughter so i couldnt just give this job up until my R.E career was really moving.so could i be succesful workin around these hours? I would be able to communicate furing these hours too.

Next question is.. is there anyone in new england that would recommend a pre license course thatll help me get my license and not just trybto sell me a class.

Ill be on later to see the replies and any suggested reading would me much appreciated.please dont hesitate to teach me the simplest techniques available.