All Forum Posts by: Marcus Hendren

Andrew Carpenter Welcome Andrew! I'm from just up the road there in Johnstown, Ohio. Also, if you read Ken McElroy ABC's of Real Estate Investing, he cites working as a property manager as a big reason he's been so successful. Best of luck!

@Juan Rodriguez

Agreed. Funny how if you use Zillow's owner dashboard to keep track of your rentals (listings, pictures, descriptions, etc.) you get a monthly email saying your "zestimate" has increased! 

Mark Pedroza Sorry, that is vague. Inheritance list would be found at usleadlist.com and the probate deals would be sourced on a county by county basis (at least in Ohio).

@Account Closed

Let me start out by saying I've sourced zero off-market deals from motivated sellers, but I have put a list together for the one day that I grow up and make things happen :) Top 8 lists for conversion rate per BP podcast episode 176:

1. Equity List- Don't separate between absentee and owner occupied. 

Parameters: SFR. 40-100% equity. 45-100+ age range of homeowner. Last sale date 1900-2013

2. Code Violations- Close lawn care violations

3. Tax delinquency- Must be two years or more behind. Must be owner. Has to come directly from county

4. Garage Sale Lists- Hire VA to pull lists from Craigslist, online newspapers, Facebook marketplace (just learned that tip this morning!) that have different mailing address from property address. MY notes say to use Upwork to hire the VA

5. Inheritance List- USleadlist.com 

6.  Probate and Pre-Probate

7. findmotivatedsellersnow.com

8. Arrest Record List- Differs by county and time of release date

@Account Closed

That is a hot tip! Thank you

@Argin Simonian

Although not the definitive answer you're looking for, I would say circumstances dictate how you market your properties. There are plenty of investor/agents out there that represent themselves, but there are also plenty of investors out there that have no desire to be a part of the transaction except collecting the check. It depends on how you value your time and what your best attributes are as an investor.  

@Xavier Green

A good place to start would be to read both of J. Scott's books: 'The Book on Flipping Houses' and 'The Book on Estimating Rehab Costs'. There are also plenty of podcasts by BP with people that specialize in flips. Lastly, I would hop in your car and drive the streets of the neighborhood you want to invest in. Look for dilapidated houses that are in need of repair and gather the property/owner information. Send a letter, knock on the door or make a phone call and get the wheels turning!

@Joe Ebanks

It protects the tenant's and guests belongings, as well as their liability. If a tenant's guest falls down the stairs and sues them, they want to be covered. I explain that my property insurance doesn't cover their liability or their belongings in case of burglary, fire, flood, etc.

@patrick

Depending on your appetite for risk, you could hold onto the property and list it at a retail price. If it doesn't work out, you can wash your hands of the property pretty quickly and still make your wholesale fee. Sounds like an ideal wholetail investment to me. 

Steven Ellis When I was shopping around for property management in my area, the going rate was around 8-10% of gross rent. BP meet ups and local RE meetings would surely get you around the right people that would know.