All Forum Posts by: Caden Wakim

Hey all. I run a full time flipping business, right now i am able to do 2 homes at a time. Looking to broaden my lead flow. Does anyone use, or have any experience with VA's for cold calling? I pull pretty solid lists, I find a lot of my deals off market, just thought I could reach more if I have a few full time callers on the phones.

While i'm at it, how are you guys finding good deals in today's world? MLS seems pretty dry, especially where im operating.

Thanks in advance.

Welcome Austin!

1. I spend a ton of time on biggerpockets, ask questions, ask some more questions and then some more! You can read through forums etc. Bigger pockets also has a podcast, im not a huge reader so I may not be a help with books, but podcasts are my go to!

2. Local real estate groups and meetups, Facebook groups, and bigger pockets, like said above by @Kerry Noble Jr

Hey Mat, Congrats on starting your real estate journey, ill be happy to share a few things regarding wholesaling.

Wholesaling requires a ton of marketing, the goal is to put yourself in front of the most MOTIVATED sellers. The ultimate goal is to have deals come to you rather then you out hunting deals, so building an effective marketing strategy is key! When you are out hunting, it may take 1000 calls to get 1 deal or maybe 10 calls, you never know!

As far as forms used, generally on a simple wholesaling deal, it will consist of a purchase and sale agreement between you and your seller, and then you will need an assignment of contract between you and your cash buyer. 

Hope this helps

Best of luck 

Hello, you can try telling the tenant that the mess must be cleaned up, and that the cigarette butts are not okay as the tenant below is upset by it, id try to have a nice conversation with her and see how that goes. As far as the unit inside, did you take a security deposit? An example I have with one of my tenants with a similar situation as you... I actually called her and asked if I could stop by and have a conversation with her, arrive, knock on the door, ask to step in, have a casual conversation about really anything, in my case it was about lease renewal... while you are inside, you can get a visual... or maybe if your lease permits, you can make access, you or your property manager with given notice. If none of this works, you may have to wait the 5 months and assess then, especially since you said she pays on time... just try to monitor the issue with the cleanliness by providing warnings or asking for it to be cleaned... 

All depends on what your lease states as well as if you gave the required notice accordingly. With my properties, when a maintenance request arises, the property manager will figure out a time that works with the tenant to do the repair, the tenant will then confirm. Usually we give 48hr notice, the lease states 24, but it never hurts to give extra notice. I would talk to the tenant and just tell him or her to give you a time of the week and time window that works, I do this via email so you can have it in writing. If you have the permission, and the required notice as the lease states, you should be alright.

I would be cautious about the neighbor having a key... like @Chris Davidson said...the only people that should have a key is yourself and or property manager, unless maybe your neighbor is your parter etc...

Hey Will!

I hold my properties under my LLC, to which I have a bank account for this LLC in which rents and operating expenses are pulled from. All rents from each property go into this account, and I pay for expenses, and miscellaneous costs from property from this account as well. I just keep tabs on what comes in and out and for what specific property it was for and from... I use wave accounting to keep tabs on all that for myself, then I send it off to my accountant at tax time...

I haven't had any issues with this, but id be open to hearing what others do as well!

quite common, you could send over you qb and block out your personal info if any, or you can pop that info into an excel spreadsheet!!

Hey Kyle!

This is key in determining markets you want to invest in, their are a few different strategies I would recommend to get the best info!

-Local real estate agents, finding a realtor you can trust in some markets you are interested in is key. They often provide great insight on what neighborhoods are desirable and where investors are buying. Just be sure you find an agent who isn't just trying to push you for the commission.

-Property management companies, you can contact property managers in the area and they can provide insight on where their clients are buying, rents, neighborhood details, crime, etc. 

-Other investors, connecting with other investors in different areas is the best option, you get to meet like minded, successful individuals doing what you want to do. The best info will be from the people who are "doing" it actively. Active buyers, in specific markets etc.

These are my 3 top ways in which I break down new markets.

Hope this helps, best of luck

I second @Clark Peterson!!!

Hey Hannah!

Congrats on getting started. I think the BRRRR method is a great place to start. And if you have a hard money lender in place, now you just have to find the right deal...

As far as the REFI goes, DSCR is a great option, I just closed on a Cash out refi DSCR, 75% LTV. Many Lenders won't worry about your personal income with this loan, but some will... This loan is more in regards to the performance of the property and income it generates... I would recommend a co signer if available.

Best of luck in finding your first deal!