All Forum Posts by: Griffin Brand

@Matt Buck, check out the Atlanta Real Estate Investing Meetup Facebook group. Lots of BP folks on there and some great resources, including a preferred vendors list of contractors and other specialists in the area. The group meets in person monthly in Atlanta, but there is solid value in the FB group, recorded videos, and the network.

@R Durney, you've got some great advice above. As you're looking through the options, be thinking about what you are looking for from a diversification stand point. Some sponsors invest in a single apartment complex, while others invest in a fund/portfolio of apartment complexes in a specific geographic region. These can both be great options. Still others, however, invest in several different asset classes across the entire country to create a fully diversified fund.

@Jim Pfeifer's group, Left Field Investors, is one great resource for information and other highly experienced investors. Best of luck!

With current interest rates, are people generally seeing an increase in subject to arrangements (even if just anecdotally)? What are some key considerations when buying using subject to and what should be avoided or included? 

I've talked to friends who have used this strategy, but it often sounds sketchy. I've heard of a few who even log in to the seller's mortgage account to pay the mortgage and never notify the financial institution. 

I've enjoyed using RentRedi for the past couple years. It's very easy to use, one of the cheaper options, and can automate everything from screening to tenant late payment fees. Tenants can also opt in to allow their on time payments to improve their credit score. Huge perk for them. Plenty of great options out there, especially for a smaller portfolio around 4 units. Best of luck!

@Tyler Haanen, it's not bad form at all to use a scope of work provided by another contractor. You could send that with a few pictures along to other contractors to see if they will bid it without wasting so much of your time in person. I've done this plenty of times. A key part is getting them to sign a contract once they agree to the scope of work! People take so much more ownership once they've signed their name to something. 

Despite all the hassle, I always try to get at least 3 quotes on medium-sized jobs like the one you have, unless my preferred contractor is free to do it and I know he's giving me a fair price. If you can, ask for a few references to quickly call and check on previous work the contractor has done.

Hope this helps and best of luck!

@Jack Wang, you're asking the right questions! Sorry to hear about the constant issues in your unit. A couple things for consideration:

- I've installed keypad locks on all my rentals. The cheapest ones at Home Depot/Lowes are under $100 and have been great for me. They allow multiple codes, allowing you to have a master code, while your tenants have their custom code (this is also clutch for STRs). There are some very nice ones that connect through wifi and allow remote opening/locking, as well as changing the code, but these can get quite expensive.

- I'd recommend looking into RentRedi property management software and Stessa for expense tracking software. 

- Having a list of go-to contractors and specialists in very important. Even if you have one that you love, it's very common for them to get busy and all of a sudden be out of reach. Always have a few on deck and ask for several referrals from them to make sure you're working with solid people. Your property manager should have a list of preferred contractors (if they are any good), but it's always good to have contingencies. 

- Vet your property manager just like you would a contractor or anyone else. Make sure you talk to other clients they have, Google them to make sure they don't have any bad press, check criminal record, etc. 

- If your tenant supplies the washer/dryer, then they are certainly responsible for getting them fixed. If you supply the washer/dryer, however, you will likely face some resistance from prospective tenants towards being responsible for fixing them

Richmond is a great place and I wish you all the best on your real estate journey!

As already mentioned, local meetups are a fantastic way to meet people in the real estate space and generally have an associated Facebook group with tons of info and a built-in network. Leverage those sorts of existing networks to keep learning and find out who is actually worth being mentored by. Always seek to provide value first, whether that's through cold calling for someone, analyzing deals and taking good ones to an investor, or bringing some capital to partner on a deal. The more you immerse yourself, the quicker you'll feel comfortable in the real estate space.

If you haven't already read Brandon Turner's "The Book on Rental Property Investing", you should do that immediately. Read and listen to everything you can get your hands on! Best of luck!

1. I'd start by compiling all contacts you have in your local market (could just be from your phone contacts). 

2. Use that list as your starting database and systematically contact every one of those people to reestablish your connection/relationship. While talking to them, find out more about them and take notes to remember important details to reference down the road. 

3. If you don't already use a CRM, you can use hubspot for free for these sort of basics. 

4. When these contacts inevitably ask what you're up to these days, mention that you recently became a real estate agent and ask if they know of anyone looking to buy or sell a house. 

5. Schedule reminders to systematically follow up with these contacts and always look to provide value to them by connecting them with someone or solving a problem for them in any way you can

6. Seven Levels of Communication by Michael Maher is a fantastic book for starting this sort of system as a real estate agent. Of course, David Green's books are must reads as well

7. Never stop learning! 

Best of luck!

Sounds like this question is regarding a single family house. If that's the case I'd recommend getting quotes from several contractors. Let them know that you are interviewing others and trying to find the right fit to work with. On several occasions, I've had contractors drop their price 5-15% when I told them I was comparing quotes. It requires a bit more work for you on the front end, but can save a TON of money and helps familiarize you with pricing, different companies, and their overall process. Best of luck!