All Forum Posts by: Billy Daniel

 Agreed....where do you get the cold calling numbers?

Take it from the security deposit.  Make sure you properly document all charges so you have a clean paper trail.

If needed, you'll want to send to collections so future landlords can see what their history is.

Hey BP!  I'm looking at the different service providers to help locate off-market properties.  I know Propstream is pretty good.  What others are you using and finding success with?

Hey!  Thanks @Ryan Blackstone!

@Mathias Shaibu, I'll shoot you a DM and we can discuss the Russellville market!

Much of the midwest and southeast could be open to you with that large of a down payment.  Probably get that $700/month fairly easily.  Obviously, the smaller more rural markets will be your best shot.  Shoot me a DM if you want more info on my area.

Sounds like a solid start!  Great job!  What's wrong with continuing to do the thing that has been successful so far?  $300/door is pretty good cash flow.  I understand wanting to diversify, but if you've already got a team in place in OH, why not just use them to grow?  At your current pace, it wouldn't take long to have a solid portfolio you could leverage to venture into new sectors of real estate.

Welcome to BP!  There is a ton of knowledge in these forums and so many people ready to share knowledge and experience.  What brokerage are you with?

Sounds like a tough spot to be in!  As already stated, you may need to start putting in the work to find some seller financing or a private money option.  Also, is refinancing an option at this point?  What would dropping that interest rate by 1% do for you?  Sometimes you can refinance after 6 months.

All of my properties have been purchased with the standard state contract.  For one, it contains all the disclosures you need.  Another thing is how it will look if you are sued.  How would you answer this question? 

"If you use the state contract for all your client's purchases, why are you not using it for your personal purchases?"

As for "stealing grandma's house", that's a no-win situation no matter what contract you use.  Getting others involved is one way to help.

Banks will allow this, but your seller would have to sign off on being in "2nd position".  That means if you are foreclosed on, the bank gets paid first and then the seller gets whatever is leftover.

This is one strategy I'm using due to high interest rates.  Some sellers will take an interest rate below the market rates.  All you have to do is ask!