All Forum Posts by: Lauren Robins

That's an exciting step forward—moving from doing your own cosmetic rehabs to managing a contractor is a big milestone, especially as you look to scale up and either flip or BRRRR. Since you've already had experience with hands-on rehabs, you're not starting from scratch—you've got a solid foundation and a good eye for what needs to get done. Now it's just about learning how to communicate those needs effectively to contractors and manage the process efficiently.

The first big key is developing a clear and detailed scope of work (SOW). You want to break the project down by trade—things like demo, electrical, plumbing, HVAC, roofing, exterior, and interior finishes. Be as specific as possible. For example, instead of saying “replace vanity,” say “install 30” white shaker-style vanity with brushed nickel faucet, materials provided.” Also, clarify whether you or the contractor is supplying materials. Vague scopes tend to lead to miscommunication, inflated bids, or change orders later on, which can be frustrating and expensive.

Once your scope is locked in, get bids from at least three contractors and ask them to quote off your itemized SOW. This way, you can compare apples to apples. When bids come back, pay close attention to outliers—if one contractor is way higher or lower than the others, that can indicate either padding or misunderstanding. High bids aren’t always dishonest, but they might include built-in markups or assume more labor than necessary, especially if the contractor plans to sub everything out.

It also helps to build a materials budget spreadsheet based on what you typically buy and what it costs locally (from Home Depot, Lowe’s, or regional suppliers). That way, if a contractor quotes $450 for a toilet installation that you know only costs $125 for the toilet itself, you’ll know to ask follow-up questions. Understanding material costs gives you more leverage and clarity in your conversations.

When it comes to payments, ask for a line-item draw schedule and tie payments to project milestones, not just time. For example, you might structure it as 25% after demo, 25% after rough-ins, 25% after finish work, and 25% after a final walkthrough. Avoid giving more than 50% up front—some contractors will ask for a small deposit to get started, which is fine, but you want the rest to be performance-based to keep the project on track.

It’s also incredibly helpful to walk the property with your contractor before finalizing the bid. Go over your scope in person and get their feedback—but don’t let them completely rewrite your project unless there’s a good reason. This walkthrough is a great chance to assess how they communicate, how detailed they are, and whether you feel comfortable with their approach. If a contractor is vague about pricing or avoids answering direct questions, that’s often a preview of what working with them will feel like.

A quick bonus tip: for major systems like roofing or HVAC, it’s often better to get separate quotes from specialists rather than bundling them under a general contractor. You’ll usually get better pricing and more accurate information. 

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Quote from @Jesse Hubble:

Im analyzing my first BRRRR property,figured out my ARV range and rehab estimate, and ive noticed that in order to pull ALL of our money out during the Refi stage, we have to make really, really low offers.

Im just wondering what percentage range some of you successful guys (and ladies) are comfortable leaving in a deal so that I can offer something more appealing to lock a property up.

That’s an awesome step you’re taking—analyzing your first BRRRR property is a big deal! You’ve already done the hard work of estimating the ARV and rehab costs, which puts you ahead of many beginners. And you're absolutely right: in order to pull all of your money out during the refinance, your offers have to be pretty low—sometimes so low that they feel unrealistic or uncompetitive in today's market.

This is a challenge many experienced BRRRR investors run into, and the reality is that most are okay with leaving some money in the deal. While the dream scenario is pulling out 100% of your original capital, it's not always feasible, especially as the market gets more competitive. From what many successful investors report, the sweet spot tends to be leaving about 5%–10% of the ARV in the deal. Some are even comfortable with up to 15%, depending on the cash flow and long-term value of the property.

For example, if your ARV is $200,000, then leaving $10K–$20K in the deal might still yield strong returns—especially if the property cash flows $300–$400 a month. That’s a solid cash-on-cash return and still far better than most traditional investments. So instead of only making offers where you pull all your money out, it can be strategic to slightly adjust your numbers and accept a modest amount left in the deal if it helps you actually acquire the property.

The key is to work backward from the ARV, plug in your rehab and refi costs, and determine what amount left in the deal still makes sense based on your desired cash flow. That flexibility can make your offers more attractive to sellers and help you get deals under contract without compromising your long-term investing goals.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Hello Micah! 

Welcome aboard! It's fantastic that you're taking the initiative to introduce yourself and express your enthusiasm for diving into the world of real estate wholesaling. Having a growth mindset and being open to learning from experienced professionals is one of the most valuable assets you can bring to this journey. You're already on the right path by seeking out a supportive community and being proactive in your pursuit of knowledge.

As you get started, consider being specific about the kind of guidance or information you're looking for. When connecting with experienced wholesalers, asking direct and thoughtful questions—such as “How did you find your first off-market deal?” or “What tools do you recommend for identifying motivated sellers?”—can help spark meaningful conversations and show others that you're serious about learning.

Even if you're brand new, you still have ways to bring value to seasoned investors. You can offer to help run comps, cold call, drive for dollars, or find leads in your area. Many successful investors started by lending a hand to others while they built up their own expertise. Showing that kind of hustle and reliability can quickly set you apart and often opens the door to mentorship opportunities.

Also, don’t be shy about asking to shadow or ride along with other wholesalers. Many experienced professionals are open to letting someone tag along if they see genuine interest and commitment. Meanwhile, take the time to learn your local market inside and out. Understanding neighborhoods, price points, common signs of distressed properties, and the flow of deals in your area will make you much more confident and credible in your conversations.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Most of the platforms you’re considering are investor-friendly and designed to simplify the leasing process. Stessa, for example, is excellent for tracking income and expenses, but it doesn’t offer tenant screening or lease creation—so while it’s great for financial management, it’s not a complete management tool. TenantCloud stands out as a well-rounded platform for landlords who want to self-manage. It includes listing services, rent collection, lease creation, and even credit and background checks. Avail is similarly robust, offering legally compliant leases that are attorney-reviewed, as well as options for online payments and maintenance request tracking. BASELANE, while newer and slightly less established, still offers useful features like listings and tenant screening. Overall, TenantCloud and Avail are particularly well-suited for DIY landlords who want streamlined leasing and management tools.

You're right to be cautious about lease language—it's crucial for protecting yourself legally. The good news is that both TenantCloud and Avail offer lease templates that are updated regularly and designed to comply with local laws. TenantCloud’s leases are customizable and generally well-regarded, though it’s wise to review the details to ensure they match your specific property policies. Avail’s leases are crafted by legal experts and also tailored to meet local regulations, which provides an added layer of reassurance. Even with these benefits, a quick review or consultation with a local attorney can go a long way in making sure your lease covers everything you need.

Should You Manage the Property Yourself Using These Platforms?
Since you’re located near the property and have already had success with a marketing service, self-management could be a great fit. Using a platform like TenantCloud or Avail allows you to significantly reduce costs—especially when compared to paying 8–12% of monthly rent to a traditional property manager. You'll retain control over key decisions, from tenant screening to rent pricing and maintenance coordination. These platforms also offer automation tools for rent collection, communication, and maintenance tracking, freeing up your time while still keeping you involved. Being able to handle lease signing and tenant screening all in one place adds further convenience and efficiency.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

You're in a great position with substantial equity and cash savings, which gives you a solid foundation as you begin your real estate investment (REI) career. Since your goal is to scale over the next few years and you plan to live in your inherited home until 2028, it's important to balance your rehab project with your long-term investment strategy.

With $500K in equity, a HELOC could be an ideal option for accessing funds for your rehab project without draining your savings. HELOCs typically offer lower interest rates compared to other types of loans and allow you to borrow against your home's value (usually 75-80% of the appraised value). This can give you a flexible and cost-effective way to fund your renovation. However, keep in mind that HELOCs often have variable interest rates, meaning your payments could fluctuate over time. Since you plan to live in the house until 2028, a HELOC could work well if you're comfortable with the terms and the potential for fluctuating rates. This option allows you to preserve your cash reserves for future flips.

A renovation loan could allow you to roll the cost of the rehab into the mortgage, which would cover the $250K needed for the project. This option can be appealing if you don't want to tap into your savings or HELOC. Renovation loans like the FHA 203(k) or conventional renovation loans can be used to finance both the purchase and renovation costs. However, these loans require more documentation and the approval process can take longer. There are also limits to the amount you can borrow, so you'd need to make sure the loan amount aligns with the property's post-renovation value. If you're planning to stay in the house long-term, this could be a good route to take, but be sure to weigh the interest rates and loan terms carefully.

A cash-out refinance could be another option to access funds for your renovation. This would involve refinancing your current mortgage for more than what you owe, effectively giving you cash to cover the rehab costs. Given your significant equity, this could be a favorable way to access the funds you need. However, refinancing often comes with closing costs, and you'd be resetting your mortgage at a new rate and term. If interest rates are favorable at the time, this could work well for your situation, but it's important to carefully evaluate the total cost of refinancing compared to a HELOC or renovation loan.

Private money or hard money loans offer flexibility and can help you secure funding quickly without a lengthy approval process. These types of loans are typically short-term (6-12 months) and are often based on the property's after-repair value (ARV), which could be advantageous for your renovation project. While hard money loans generally have higher interest rates and fees, they provide fast access to capital, allowing you to move quickly with your rehab. This could be an ideal solution if you don't want to use your savings or go the traditional route of bank loans. However, keep in mind that these loans can be more expensive, so you'll need a solid plan for repaying or refinancing once the rehab is completed.

Conventional loans are typically more stable and come with lower interest rates compared to private or hard money loans. If you can find a loan that covers both the purchase and renovation costs, this could be an effective option. However, conventional loans generally require more stringent documentation, and it can sometimes be difficult to find a loan product that fits your specific renovation needs. If you plan to live in the property until 2028, this could be a viable option, but you’ll want to carefully assess whether the terms align with your overall financial goals.

As you scale your REI business, it's important to avoid over-leveraging yourself. Your first few flips will likely be funded through conventional loans, and it's wise to stay conservative with these loans to ensure you can comfortably handle the rehab and holding costs. You can use your savings for a larger down payment on future flips, which will allow you to maintain some cash reserves for additional opportunities. While you have substantial savings, it's generally better to preserve your equity in your primary home as long as possible, since this provides a buffer for unforeseen circumstances and increases your future borrowing capacity.

Once you’ve gained experience with a few flips, you’ll be in a better position to access private or hard money loans, which can offer more flexibility as you scale your business. The key is to stay disciplined and cautious in your approach, ensuring that your funding choices align with both your immediate rehab needs and your long-term investment goals.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Hi there Reyna! 

Since your tenants are protected under VAWA, it makes sense that the utilities and services remain in your name for their safety and privacy. However, as you’ve noticed, this can create challenges with fluctuating utility bills, especially if usage is inconsistent or excessive. While it’s important to maintain their protections, there are a few strategies you can use to better manage and potentially limit your utility costs.

One approach is to set reasonable utility usage limits in the lease agreement. For example, you might state that the landlord covers utility costs up to a certain monthly amount, and anything above that is the tenant’s responsibility. This is common in situations where utilities are included but can fluctuate. Of course, before implementing anything like this, it’s essential to review your local laws and confirm that these terms comply with both landlord-tenant laws and any VAWA protections.

Another useful tool is to install utility monitoring systems or smart meters if the building setup allows it. Even if you cannot transfer the bill to the tenant's name, you can still monitor usage by unit or zone. This can help you identify when spikes occur, which may indicate either overuse or issues like leaks or malfunctioning equipment. You can also use this data to address concerns in a more informed and objective way.

Conducting a utility audit can also be a game-changer. Take a close look at appliances, lighting, insulation, and plumbing fixtures. You might find opportunities to replace old appliances with energy-efficient models, install low-flow water fixtures, add weatherstripping, or upgrade to LED lighting. Many cities and utility companies even offer free or low-cost energy efficiency programs to landlords, which can reduce your long-term operating costs significantly.

Another strategy is to build utilities into the rent as a flat-rate or utility-inclusive amount. This simplifies accounting and makes costs more predictable. By tracking average usage over the past year, you can adjust rent accordingly and give both you and the tenant a more stable monthly expectation. This approach is especially useful when it’s not possible to sub-meter or charge tenants directly.

Lastly, you may want to include general language in the lease about responsible utility use. Even if you’re not itemizing bills, you can add a clause stating that tenants must use utilities reasonably, and that excessive or negligent use—like leaving windows open with the heat or AC running—may lead to corrective action.

That said, because VAWA protections are involved and may intersect with subsidized housing regulations, it’s wise to consult with a landlord-tenant attorney or your local housing authority before implementing changes.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

First off, you're in a really impressive position at just 28. You’ve built and sold a business, you’ve acquired another at what sounds like a fantastic valuation, and you’ve accumulated a substantial real estate portfolio. Most importantly, you’re being intentional with your finances — that’s the real flex here. Your question about whether to sell your real estate and pay off all your debt or keep building is a great one, and you’ve set the stage perfectly to have that discussion.

Right now, you’re pursuing an aggressive yet disciplined strategy. You’re reinvesting heavily in your business, paying down your wife’s student loans quickly, and overpaying your mortgage with a clear payoff plan that leverages a future lump sum from your business note. You’re essentially choosing to live lean today to be completely debt-free in just a few years — which would put you in a rare and powerful position of having high monthly income and minimal expenses. The downside of this approach is that it requires ongoing stress and maintenance — both financially and operationally — especially with a large, aging real estate portfolio that could throw some curveballs, like that 1978 septic system.

If you were to sell your real estate holdings now, pay the taxes, and use the net proceeds to eliminate your student loans and mortgage, you’d free up more than $13,000 per month in fixed costs. Your monthly burn would drop to around $3,000, and you’d have more mental space, more options, and a much simpler financial life. The trade-off is that you’d give up long-term cash flow potential, tax benefits from depreciation, and a decent equity base in those properties. Depending on how much depreciation you’ve taken and how you structure the sale, taxes could eat into your take-home equity by 20–30%. But what you gain is a clean slate and an enormous monthly surplus to reinvest however you choose — index funds, a smaller and newer real estate portfolio, or back into your business.

Another thing to consider is that your student loan and mortgage debt are both at relatively high interest rates (around 7%), which makes paying them off early essentially a guaranteed 12–14% IRR when you include the interest savings. That's hard to beat consistently in today's market without taking on significant risk. So the financial argument for eliminating that debt is a solid one, particularly when it frees you from the drag of two large monthly payments.

If you’re hesitant to fully exit real estate, a hybrid strategy could work well. You might consider selling the most problematic properties — for example, the 16-unit with the aging septic — and use the proceeds to pay off a large portion of your debt. You could hold onto the better-performing or less stressful assets, and perhaps even reposition them over time into newer or more passive real estate investments. As interest rates come down in the next couple of years, you could also explore refinancing the mortgage for better cash flow.

At the end of the day, your decision really comes down to what you want life to feel like. You’ve already won a big part of the money game — you’ve got strong monthly income, meaningful equity, and an appreciating business. The question now is whether you want to keep building and grinding for more, or simplify, pay off debt, and gain flexibility and peace of mind. There’s no wrong answer — it’s just about aligning your financial life with your ideal lifestyle.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Since you've already tried social media, internet sleuthing, and LexisNexis with no success, it might be time to hire a professional skip tracer. There are several reputable companies used by attorneys, landlords, and collection professionals that can help you track down a person’s current address and employer. One of the most widely used is TLOxp by TransUnion, which offers detailed reports that include employment history, current addresses, and even known associates. However, they require credentialing — you typically need to be a licensed private investigator, attorney, or a collections-related professional to gain access.

Another solid choice is IDI Core, which is similar to TLOxp and offers powerful data tools. Many professionals in the collections and legal industries use it when TLOxp doesn't provide results. LocatePLUS is another good option and is known for having a simpler onboarding process compared to TLO or IDI, making it more accessible for small landlords or property managers. Delvepoint is also popular among smaller firms and solo landlords for its user-friendly platform and reliable data.

If you aren’t licensed or credentialed yourself, you might consider hiring a private investigator or attorney who already has access to these tools. It’s a legal and efficient way to get updated employer and address information without violating privacy laws.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Hi there Joe. To remove prior owners from a foreclosed property, it's important to understand the nuances of Alabama law. House Bill 182, which became effective on June 1, 2024, is primarily aimed at addressing the issue of squatting and provides a streamlined process for property owners to request law enforcement to remove unauthorized individuals from a dwelling. This law allows a property owner or their agent to submit a sworn affidavit to law enforcement stating that an individual is unlawfully occupying the property. Upon verification of ownership, law enforcement is then authorized to serve a notice to vacate, typically within 24 hours of receiving the affidavit.

While HB 182 offers a potentially quicker route to remove unauthorized occupants compared to a formal eviction process, its applicability to prior owners after a foreclosure requires careful consideration. The law specifically defines an "unauthorized individual" and includes stipulations that the individual is not a tenant, a holdover tenant, or an immediate family member of the owner. In the context of a foreclosure, the prior owners were, at one point, the legal owners and occupants. The nature of their continued presence after the foreclosure sale might not neatly fit the definition of a squatter or an unauthorized individual in the way the law intends.

In Alabama, after a foreclosure sale, the prior owners may have a statutory right of redemption, allowing them a specific period (often one year for homestead property) to repurchase the property. Their continued occupancy during this redemption period, or even immediately after the sale but before any formal eviction proceedings, could be viewed differently under the law than a typical squatting scenario. Therefore, while HB 182 provides a mechanism to deal with unauthorized occupants, its direct application to ejecting prior owners after a foreclosure might be legally complex and could potentially infringe on their rights related to the foreclosure process and redemption. It would be prudent for the bank, as the new property owner, to consult with local legal counsel in Birmingham, Alabama, to determine the most appropriate and legally sound procedure for removing the prior owners, which may still involve initiating an ejectment action through the courts, especially if the prior owners are not vacating voluntarily after the foreclosure.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Quote from @Robert Frazier:

Hey, our Turnkey Real Estate team is building out infrastructure to manage STR and MTR alongside our long term property management services. What do you wish your MTR/STR management did? What do they struggle with? What technology do you prefer?

As someone who's managed or worked with STR and MTR teams, one of the biggest things I wish property managers did better is dynamic pricing. Many rely entirely on tools like PriceLabs, Wheelhouse, or Beyond, which are great — but they often leave money on the table if not actively managed. What really makes a difference is when managers use these tools as a starting point and layer in local market knowledge, adjust for nearby events, and fine-tune based on performance data. That hybrid approach can significantly boost occupancy and nightly rates.

Another area that often needs work is communication. Speed is important, sure, but the quality of the communication matters just as much. As an owner, I want to know that guests or MTR tenants are being responded to quickly, but also with professionalism and warmth — not canned or robotic replies. Good guest experience leads to better reviews, referrals, and repeat bookings, and it also protects the brand of the property and the management team.

Proactive maintenance is another huge one. Many managers are still mostly reactive — they fix what’s broken when it’s reported. But the best ones get ahead of problems by doing regular walkthroughs, testing appliances, checking for wear and tear, and keeping great relationships with vendors. This pays off not only in fewer emergency calls but in keeping the property in top shape, which leads to better long-term performance.

On the MTR side, lease turnover and furnishing logistics are often underestimated. The 1–6 month stays mean more frequent turnover than long-term, but without the nightly cleaning of STR. Managers who offer streamlined, reliable furnishing packages and have a game plan for staging, photography, and lease-up timelines really stand out. Same goes for tenant screening — MTR guests are often traveling nurses, digital nomads, or corporate clients, and they expect a different level of service and professionalism than standard renters.

Finally, tech can make or break the experience. Personally, I love tools like Hospitable for guest messaging, PriceLabs for pricing, and OwnerRez or Hostfully for full-stack STR operations. For MTR, platforms like Furnished Finder or corporate housing portals matter, but so does having a clean portal for owners to view performance metrics, financials, and maintenance logs. Managers that bring all of this together into one smooth system — with minimal owner handholding — are golden.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.