All Forum Posts by: Ryan Billingsley

We spend 1500 per month.  We started with 1000 and spread it out over 2 months.  Within the first 2 months we closed our first wholesale and used that money as the down payment on 2 rental properties and more leads.  We have been using DM for 4 months now.  Plugging along!  

We have been working on a lead we acquired through our DM campaign for the past 2 months.  The lead consisted of five properties under a trust that was controlled by a attorney.  3 of the properties we made offers on.  After a month of delayed negotiations with the attorney and the family members in the trust they accepted 2 of our offers!  The 3rd offer is held up because it has a family member squatting in the property and she is not cooperating with the family members in the trust.  We plan on wholesaling the 2 properties we have under contract and using the capital to flip the 3rd property which will have the most room for profit!  Very exciting!

@Guy M.  Very addicting!  I am ready to buy more even though we have not got the 2 we have rented out yet..

@Paul Ewing   That can't hurt to ask for more!  Gives the landlord a little more piece of mind and the renter more reason to keep the property in good shape.

@Marcia Maynard   Thank you for sharing!  Charging a slightly different amount makes sense.  It sounds like something you do because of past experiences.  That is great advice to help a new landlord succeed!

The newest podcast (#97) is a great example of high assignment fees.  The guest states that he has made 25k (which prompted him to go full time) and 18k on two examples he used.  I guess it really is about knowing the #s and pricing it where its a great deal for the end buyer and a great deal for the wholesaler.

@Account Closed   The bigger the deposit the better!!!  I think we will start with just 1 month rent and go from there.

@Brooks Rembert  2000 is a great security deposit!  I would assume when rent is 2000, its a nice property!

@Steven G.   We bought the 2 properties from a fellow investor who rented them as well.  He was surprised with what we plan to rent them for and the deposit we are asking.  He rented them well under market value and asked for a minimal deposit and he was content.  I guess it all comes down to the level of performance you expect from your investments and the demand for rentals in the market.  

@Steve Osowicz   Thanks for sharing.  I have talked to people who do only half the monthly rent as a deposit.  But when renting for 650, a 325 deposit is not a good security blanket for unexpected damages.  Also I feel the larger the deposit, the more motivation the renter has to try and get it back.

@Marcia Maynard   Thank you for sharing!  I will download that from the file place!  Can't wait to start the screening process.  We will be starting this Sunday.