All Forum Posts by: Dennis F.

Golly Dan thank you so much for writing it out in crayon for me like that! I see only now that what I've been doing, in focusing on ROI, has been thoroughly misguided all of these years.

To think that all of this time I should have been trading lower ROI for your definition of scalability. Silly me!

Dan -

I'd put it all in single family rental houses right now. I own two apartment buildings and a portfolio of rental houses, and I'll tell you that I am not seeing apartment building ROIs anywhere near those that single family rentals are throwing off.

In my market that $160k would get you roughly 10 houses. $50k each at $15k down on each with conventional mortgages. Normally I wouldn't say spend it all since you'll need some reserves, but since you have another source of cash flow I don't think it would be an issue.

In my market each house, self managed, would generate roughly $400 net each month. That's $4k per month and $48k per year.

Not a bad ROI.

Jean -

I know I'm coming to this late but I have 55 units here. And if it's not renting it's all about the price. Period.

If something is priced right then it will rent immediately.

Now I will add the caveat that this December and January have been the worst I've seen in six years with respect to tenant quality, such that a couple of colleagues and I actually stopped marketing our properties in the beginning of January.

We started up again last weekend and our phones have been ringing off the hook. So if you price your condo right, based on the market and not what you owe, you will have it rented in February.

Welcome Troy!

My first bit of advice - throw those books away. Or at least put them aside for now. While some of them might be worthwhile at a high level, none are going to help you with the tactical details you need.

There are a couple of good books on wholesaling. Pick those up if you can. When I got started I bought Steve Cook's Wholesaling For Quick Cash Program. It's a lot more expensive now so you might look it up on ebay. In any event, it was hands down the best material I put my hands on when I was getting started, and it gave me the knowledge I needed.

In terms of following someone around, I doubt that you'll find someone but it couldn't hurt to ask. Start with the Oakland REIA and ask around. If you're going to ask for something like that you ought to at least offer to take the investor to lunch on the days you're following him.

Good luck and again, welcome!

Dennis Fassett

Absolutely! I have FB ad campaigns running just about all the time. Like twitter, I have sold products, filled events, found deals, deal partners, and private investors from using ads to drive traffic to my fan page and web site.

The best thing about using them is that the ads are highly targetable, so some run against groups as small as couple of thousand people. That keeps the cost extremely reasonable as well.

I HIGHLY recommend them.