All Forum Posts by: Dylan Osmon

I’ve been consistent with my Direct Mail marketing and my phone has been blowing up on my roughly 16% response rate!

I’m getting better and better on screening calls, however I’m still struggling on one thing.

50% of the time, the seller calls and doesn’t have a ballpark price in their head yet for what they want. I value my time and my contractor’s time for going to look and pursuing deals.

I don’t have a paper I keep with me for screening these calls, should I make one?

Is it wise to be adamant about not seeing a house until the seller has a number in their head? Any tips for getting a ballpark number out of them? How do you politely tell them you need a number before seeing it?

Thanks in advance for the tips and experience!

I don't know what your thoughts are on partners, but I love them. It sounds like the deal is listed on the MLS. If it is a good buy at all, take it to someone who has experience flipping and offer a partnership. Even if they want more than half the profit, you would get an excellent education.

It would be a great way to get your foot in the door with insurance of experience. 

Although I have never used one myself, I highly recommend looking into a FHA loan. Numerous people on the podcast have talked about the power this has for newbies. It is a very favorable loan with low money down.

I would talk to a lender who specializes in these and see if you qualify. This may not be ideal for having "no" money in a deal, but 3.5% in a deal is not a lost with what you get. 

What happens if you don't renew mandatory flood insurance on a property while it has a bank note on it? What will the bank do when/if they find out?

Thanks for the help, I couldn't find too much online. 

I am currently trying Listsource for the first time. I live in rural MS. I am guessing that the data is pulled off the public county sites. I pulled my first list, 1100 leads (had to use 3 counties). The data is sort of all over the place. I know between the 3 counties, we have more than 8 small multifamily properties. Is listsource only as good as the public data is can pull from? Rural MS doesn't do the greatest job of keeping up with data. Is it typical to pull addresses of homes that aren't there anymore? What's some of the issues you run into pulling from this site?

@Tony Angelos I know haha! Just missing one of the 4 wealth builders

@Adam Mittermeier for sure! Thank you from another Arkansas man

Just wanted to get some input on this dilemma I am having. 

I successfully bought a house at the right price in my market. I bought it cash and am Refinancing out all the money, yes all. ROI will equal infinity. This question would especially come up if I had the typical 20% equity into it.

Is it ok to buy an asset aka house that won't ever appreciate???

This particular home in the example is in a C- to C neighborhood. I don't think it will ever get better or worse. I do know in my heart that the street will never really appreciate(adjusting to inflation). I almost think of it as like AT&T stock where the price doesn't move much, but those dividends keep coming. The Cash Flow won't be anything to brag about on said property, but with nothing in it, the ROI is satisfactory.

My concern is that so many investors talk about their wealth truly coming from the long term appreciation. That's not to say buy negative CF, but appreciation is the cherry on top so I've heard. The other side of me says there is nothing wrong owning an asset that pays for itself every month, builds equity, tax benefits, etc.... especially one with no money in it. Would no appreciation still be ok with %20 of my money in it?, saying the ROI is sufficient.

I am young into my investing career and like so many strive for the CF at this stage of my goals. Brandon Turner has even mentioned some of his early properties in WA never appreciated. It sounded like the areas he bought in are similar to mine. Mississippi makes it tough with a declining population and not much appreciation. 

I don't know that I have a clear question to ask, just wondering on buying property that will most likely not appreciate, but Cash Flow to your want.

@David Da Silva lots of good info there, thank you man.

Thank both of you... I need to cite some articles to the banker I use to show that.