All Forum Posts by: John Morgan

Take them off. Safety hazard. if there is a fire people can't escape through windows. 

Having cleared out 25 wholesale deals without looking at them I pose a question to the actual flippers and investors in the group. Do y'all even look at "wholesalers" deals anymore?

This might just be a post about the current condition of what a "wholesaler" actually is but I have noticed over the past year I have not even looked at deals sent to me by these so called "Wholesalers." Every deal for the past year has not even been close in ARV, repair Numbers, and value. There are so many new wholesalers who have no idea what an ARV is or repair numbers are. All the experienced wholesalers I have worked with in the past are either just buying the property themselves or can't find deals because someone has put it under contract at 95% ARV. This might just be a rant of mine and I might be the only one but do any actual investors still work with new wholesalers or do you just not even look at their properties anymore?

I would abandon the letters unless you are sending out about 20,000 a month. Find leads elsewhere. We are seeing about a 1% call on all mail and only about 10% of those are decent leads. That’s roughly 20-30 appointments per 20k letters. Online marketing is much better but unless you are spending thousands of dollars a month you will be on page 7. 

So weird. Got to love vrbo. Mine says 2. Thankfully no guest has ever expected 6 bedroom. Maybe a refresh or something. 

 Sleeps 6. Pull out sofa always a must 

100% disagree with that statement. We have a 2/2 in pitman center that is t1-11 siding and all drywall. We made it into a farmhouse/cabin feel. Picture chip and Jojo designing a cabin. We have only had 1 night vacant all year. Will do over 100k this year alone. Many people feel the all wood cabin and bear everything is tacky and our property have many 5 star reviews that mention they love that it is not a dungy wood cabin. Just make it look relaxing and new. We are building 2 more just like it. 

https://www.vrbo.com/1694665

What is your craziest/ strangest house buy story. 

Ill go first. Buying a house in Tennessee where brother in law committed suicide in the bedroom so the family buried him by the foundation between the HVAC unit and the Porch. We have to dig him up. BTW totally legal (depending on state) to bury someone on private property. 

I think you missed his points. If the property is cash flowing then who cares what the value is. Robert is of course not going to sell anything because then he would have to pay taxes. People always say buy low and sell high but as he says those people are idiots. Why sell high and then have to pay taxes. Buy low, never sell, let the cash flow pay you. Then refi and have tax free money. 

100% in Knoxville. We moved a good amount over to Section 8 KCDC program and the city pays for about 80% of the rent. The tenant is in charge of the rest. 

We require a deposit of $800 and first months rent. DO NOT WORK DEPOSIT INTO RENT! We do section 8 houses and have some great tenets. If they cant save $800 then there are some red flags that might arise. For section 8 their credit score is not always great so do your due diligence. Call employers and previous housing. If someone has a job for over 5 years straight that is Great. That shows they can be responsible for a long period of time. Section 8 and voucher programs are a great way to get passive income. YOU HAVE TO SCREEN EACH PERSON THOUGH. You will have many apply that will give you a sob story and they are hard to hear. You will feel bad for them but STILL run your background and due diligence. 

Every city is different but most require the tenant to pay something and the city will take care of the rest.