All Forum Posts by: Karen Morgan

Hi Austin and Ryan - I've been following this topic for a few days...glad to hear other ideas for automation! 

I'm new to the business...I just started a lease option wholesaling business.  I'm planning to use Podio to Lob automation via Zapier for getting postcards/mailings out to new potential sellers.  Also working on getting some boots on the ground (that I plan to hire via upward.com for ease of tax purposes) and will have them take all photos, do all marketing, etc for each house for a set cut of the profit.

I'd love to hear from others about using Facebook to market properties.  Since I run a business in a very specific niche market, I think this would be a good tool for me.  Have you guys ever used FB for this?

Best of luck to you both!

karen

www.morganleasetobuy.com

Hey David,

I have been on the reverse side of your situation. We sent an ad on craigslist for a remote "Boots on the Ground". One way our applicants could make themselves standout was to 

#1) follow all the directions on the ad. (yes, I had some applicants that did not respond the way they were suppose to) 

#2) be proactive and call them and personally introduce yourself. Being proactive is probably one of the key things they are looking for.

Hope that helps

Hey Leon,

I read your post and one red flag I read was when you wrote, "The deal is a single family detached, the repair should be and going by what my agent as told me 30 - 40k and the property is going for about 130k less then market value or ARV."

I would make dang sure I did my own estimate on repair cost. I would assume you should double to amount your agent told you for repair cost 60-80k unless your agent has extensive experience in rehab/cost estimate deals.

It sounds like this might be a great opportunity for you. Good Luck!!!

Hey Clayton,

I'm currently reading "Real Estate Advantages, Tax and Legal Secrets of Successful Real Estate Investors."

I'm about 1/4 the way through and I feel like I'm being exposed to all kinds of really good Ideas. We bought it at 1/2 price books for pretty cheap.

I also read "Landlording on Auto Pilot".  It's a little dated but still really good book on creating systems. He also talks about the importance of getting a good CPA that is familiar w/ Investing.

Hope that helps!

Welcome, @Tanessa Roberts!  My husband and I are in Leander and just starting up in RE investing.  We're also interested in Killeen/Harker Heights as well as Leander/CP!  We found an investor lunch in Killeen that we plan to regularly attend.  If you're interested, I'd be happy to pass along the information.  Hope to meet you soon!

@Will R.

@Account Closed

Thanks to each for the tips!  I went down to the City last Friday to ask them about subdivision versus condo regime - it was time well spent (note:  get there 30 minutes early on a Friday morning and you're in & out quickly. I was able to speak with Residential AND Commercial folks and be out by 8:15 am!).  It seems the property is perfect for condo regime, and won't even qualify (due to lot size) for subdivision.  That said, I'll get with my lawyer asap and hope I can get the offer to go through so I can make the condo regime happen!  Lynn - there are no shared walls so hopefully they'd end up selling for full value.

Oh yes...I'm working on an offer that does NOT include a balloon payment.  I don't want to get myself stuck succombing to paying a balloon off.

@Jamie Bounds - thanks for the response.  Glad to hear the tracking does make a difference for your business!

@Jamie Bounds - thanks for sharing your experience! As a newbie, this is really helpful.  I'm curious...do you keep track of your direct mail marketing campaigns to help determine what's most effective? 

Hi everyone --

I'm a newbie (very green) and am starting Buy and Hold deal discussions with a someone who has two very profitable rental homes in Austin on one lot.  If I do the deal, one escape route I'm strongly considering is splitting the land into two lots, allowing me to sell off each home individually.

1. Has anyone else in Austin done this (I know the answer is yes!)?  How hard was it to work with the city of Austin to make these changes?

2. Looking to do owner financing to purchase this, and I don't have a ton to put down.  I know I'll want the deed (obviously) before splitting the homes up.  How do you guys feel about balloon payments?  I've never been a fan, so I'm wondering how someone else might structure the deal so that the deed ends up in my hand as quickly as possible.

Thank you in advance!

karen

@Fred Heller  Thank you, Fred!  Clarifying question:  can you have a person w/ a real estate license as an employee or the company to qualify?  Just curious...been starting to think about doing property management but don't have a license myself.