All Forum Posts by: Joel Ray Cotton

@James Galla Yup my spreadsheet gathers info from Zillow, Redfin, Trulia, and past sales info if available.

I don’t know where to find a AVM software without paying and what is referenced earlier.

When it comes to finding a realtor to do appraisals this is off market and I’m sure they wouldn’t be happy to put together info on a 12 property package.

I have reached out to a couple BPO outfits locally to see what their pricing is.

Looks like I have my bases covered, I guess I just have to pull the trigger.

I am evaluating 12 single families and the because they haven't been publicly sold in 15 years, Zillow has no information on the properties to help. I am going off square footage and median values. Is there a service to do some sluething and get closer values to give me a piece of mind on my personal appraisal?

Yes they cashflow, yes the DSCR is great. The seller is pushing back on values and I would really like a piece of mind on values.

@Robert Evans was literally looking for all this info. You sir are a god send.

@Scott Trench 1000% depends on your business model. If you are trying to get a 1-4 family so you can put it on a 30yr mortgage I would say any depressed area Detroit, Cincinnati, St Louis, northern Nashville.

If you are looking for more of a CoC return I would say that you can't beat Single Family's where rent is 1-2% of purchase price. Because you can play the Cash Flow and the appreciation game. (You can find single family's in Stl for 30-50k all day for $700-$900 in rent)

The opposite of cashflow. If you take into account Value Added Cap rate of a stabilized Apartment Building then I would say Apartments basically anywhere in the US because you can flip a stabilized apartment building for a higher effective CAP rate and make huge CoC returns.

@Nawzad Babiry 285k for 4 single family’s, and 2 condos, seller financed half of down payment. $4500 in rent. Just appraised for $485k

Can you point me into the direction of pay or quit notice? I appreciate and understand the advice but a form letter would be much more helpful.

I am wondering if someone has a form letter that I can edit to send to my tenants if they end up being 3 months behind. I would like to start the eviction process or atleast scare them into getting caught up. December is an infamous time for my C class tenants, they do this every year. 

If there are any tips or tricks let me know. 

I get it, I’m asking for what may not be included in a normal toolkit.

@Bryan Richardson

@Nathan G.

Principles by Ray Dalio for the second time.

The Organized Mind

Stealing Fire

Tools you can go without and use regularly?

Hello Everyone trying to put together a toolkit for housewarming gift to a friend to reduce maintenance issues. This is more of a survey, give me ideas! (Ex: Garbage disposal wrench, AAs for smoke detectors, AAAs for remotes, 3M strips)