All Forum Posts by: Paolo Ruggieri

My brother in law got hurt and sued ... something very similar happened... in Alabama. It took 7 years of trials!!!! Defendant had an excellent attorney though that always found a way to prolong the case. Sadly my brother in law died of a heart attack recently and never closed the case. Yes these cases can go on for a long time and end up in nothing 

You can 

- get deposit cards with your bank (I did with Wellsfargo to manage my 40 tenants!)... each tenant has a deposit card. They can only deposit checks cash or money orders. They can do it 24/7. The transaction will contain the deposit card number

- use a property management software (ie appfolio)

Guys I checked with everyone: they do not cover rent by room- they only cover renting the whole single family 

Suggestions?

I do not know a local broker in Atlanta... anyOne can suggest one?

All

I am renting a property with Air BNB by room... one month minimum... what is an insurance that covers it? My landlord policy is not very clear... I found that slice insurance might be the only one offering protection but is crazy expensive ($3,000 per year...$9/night on top of my insurance )... proper insurance does not cover short term room rentals... only the whole house rental 

Anyone has an idea of a good insurance or insurance broker that offers full liability protection for Air BNB rent by room? 

Now - I do know of a success story from a dear friend of mine. He got a $64,000 water bill. After months of struggling he called the news and they immidiatly took bills to $0. BUT it was a $64,000 which I told him is almost better than a $5000 as it was obviously wrong. 

2+ years ago a group of people like us got together and brought this to the news. In response in March 2016 watershed did an amnesty month where they were reasonable 

Then everything went back to normal. Maybe we should get together 20+ of us investing in the Atlanta watershed area?

anyone out there?

$7 per click... 10 clicks = $70= 1 lead

$70,000 = 1,000 leads = 70 deals

On average make 20k per deal. Let's say 21k. If I have to divide it with 2 other people (they put money and operations) I make 7k per deal

7k * 70 deals = 490k gross 

$490k gross - $70k advertising-$50.k admin= 370k net profit 

At a high level this would be my plan. Should I consider homevestors? If yes or no, why?

all

I am an experienced investor.. I own 34 rentals

I have 2 friends that do flips (approx 1/week) who would like me to be their deal finder. They have money and a great very large crew , one of them does all the sales, but they are complaining of not enough deals... when they have money just sitting and crew almost out of work they buy deals with too thin margins... they would like more deals to choose from to get the juiciest... also they have a structure in place to really cover more deals

I think I am going to pick up their offer and help them finding deals. In the past for quick deals I used help of pay per click google. It was a bit expensive, but it gives immidiate results. If you are willing to pay, it's pretty easy.

I would though consider homevestor Francise ... I just do not know what is cheaper per lead... if I would like 1000 leads in one year in the north Atlanta area in order to make 70 deals in one year... what would be the cost with homevestor? (With pay per click $70 for 1000 leads... $7per click, 10 click per lead)

Please share cost/lead/deal with google ad vs homevestor franchisee 

1% I pay is interest on what I borrow... I then take what I borrow an reinvest it in 12%+ mortgage notes or in my own rental portfolio