All Forum Posts by: Ryan Dossey

I feel like I've got more of these than I should share lol. 

When I first heard about wholesaling I had no cash so maxed out a credit card I couldn't pay off to pay for marketing. Got our first deal and made 10k shortly after. 

I went full team in 2016 with $3,000 to our name and 3k in monthly expenses. 

We are now at 127 units. Never would I have dreamed we'd end up here when I made those two decisions. 

My thoughts when I read the question was... Is she behind on rent? 

But seriously, I wouldn't evict. I would work on getting her placed somewhere else. We've got a gal we bought a house from that is elderly and needed some time to find an apartment. We've let her stay for 6 weeks so far free of charge. 

If they're talking about suing you prior to lease up and withheld rent from their previous landlord that's what we call a professional tenant. Talk to your legal counsel and run the other way. 

That sucks. That's one of the problems with buying in 7 figure areas at that cycle of the market. 

Zillow for rents. Call and ask if they're buying other houses. Facebook buy/sell/trade groups. 

Go into the several LARGE fb groups for wholesalers and search your city. Tons of threads will pop up with people sharing their emails who are looking for deals there. 

Worst Case Scenario... 

Use Propelio or Find Cash Buyers Now. Pull lists. Skip trace and cold call/text. 

For skip tracing we've had good luck with batchskiptracing.com as well as Skip Genie. 

Good luck! 

We typically do the nearest increment of 250 to the rent. So a 1200 place I'm charging 1k. A 800 place I'm charging 750 etc. 

I would suggest also charging a $200 non refundable "pet fee" per pet with a cap at 3. As well as $25 per month per pet. We had a family move into one of our rentals and this has added $1,550 in cashflow in 18 months. 

@Samuel Kunzman If you have NICE properties your best bet could be to higher the mid - more expensive appraiser who "in theory" should do a better job. I know ours always give us low, med, and high options. 

What's the value per building? 

What % of face value are you getting it at? How large is the lien? Is your plan to work out a payment plan or attempt to foreclose? Do they have any other liens/judgments? Back Taxes, IRS, Etc.

@Cindy Craft I would not use Zillow for property management. 

We use Rently which handles the showing/background/credit check. We still call and verify info and references. ESPECIALLY previous landlords. 

We use Rent Manager for our accounting which allows online rent payment through Paylease. 

This may be a bit "robust" though for just one unit. 

TransUnion has a tool called "my smartmove" that we've had good luck with. I would also always search the person on your local casenet to make sure your tool doesn't miss anything. **Make sure you spell their name how it's spelled legally!**

Some lighter PM softwares are Appfolio & Buildium. 

Most hard money lenders will fund a portion (90% is typical) of the purchase and 100% of the rehab. 

No HML I've seen would expect you to fund the rehab.

I've heard good things about Dominion Group out of Boston and Iron Bridge Lending out of Portland.