All Forum Posts by: Robert Grunnah

@Shil Shirol Shil - how much are you paying for the 78758 duplex? Make sure you don't overpay for condition. Buying with a long term disabled person is not a negative. Just account for the fact that your building was either built in the 70's or 80's and likely has a lot of deferred maintenance. Are you a handy person who can make repairs? 

As for Austin in general, I sold my investments in 2014 and 2015 and I regret it. The market had another 30-40% appreciation in it since then and has only now begun to slow a bit. Next time I'm in the same position I'll hold on longer.

However, I'm not sure there's much runway left. Prices are too high for most median incomes, and the tech-heavy economy is subject to job losses when the technology industry takes a cyclical bow.

If you find a quality property at a reasonable price, I think you're safe, but I wouldn't be loading up on long term holds in the market at this time.

Hello Bigger Pockets!

In my businesses in Texas, we have mostly used bright four color postcards with a very professional "We Buy Your House" messaging. They're reasonably priced and we know they arrive mostly to the correct mailboxes.

We have been considering our next mailing to be First Class (pre-sorted) in a standard white envelope with our local return address, but not specifying the name of the house purchasing company (as we assume that would be immediately thrown away without opening).

We always get more CALLS from letters, but I'm not sure we get more actual purchases from them. The key is always how do you get the right message in front of the right person (maybe the inheritor, etc) at the right time.

Anyone have a strong opinion on postcards vs. letters, and don't worry about the costs - letters are actually a few dollars cheaper than postcards (because you can print them in B&W and not four color)?

Hi BP - this will be the first time I'm purchasing a tenant-occupied FNMA foreclosure. 

Any tips out there as to how best to handle the tenant situation after closing?

My inclination would be to approach him personally in a friendly manner, and offer a token amount of money for him to move out within 30 days, along with another token amount if the property is left in good condition at his move-out. 

This is in New York State.

Thanks,

Robert

My business partner and I own a number of properties throughout the Hudson Valley, some of which we renovate and flip, some of which we're holding long term as rentals.

I am looking to develop a relationship with a professional insurance agent that has access and familiarity with a number of surplus lines policies that can cover rental properties, as well as vacant properties and some occasional builder's risk.

If you have interest and experience with this, and can handle 20-40 different new purchases a year, please reach out to me.

Thanks!

My business partner and I own a number of properties throughout the Hudson Valley, some of which we renovate and flip, some of which we're holding long term as rentals.

I am looking to develop a relationship with a professional insurance agent that has access and familiarity with a number of surplus lines policies that can cover rental properties, as well as vacant properties and some occasional builder's risk.

If you have interest and experience with this, and can handle 20-40 different new purchases a year, please reach out to me.

Thanks!

Hi BiggerPockets - been waiting for an opportunity to get involved with your forum for a long time, and I finally have a question I think worth discussion.

I operate significant house flipping operations in Austin, Dallas, and Upstate New York and we're involved in 50+ house flips and remodels a year, and have been doing this for about 14 years now.

Now that I have three separate teams (manager, GC, multiple subs, Realtor) in each market, I am finding it increasingly difficult to keep tabs on timelines, project progress, budgets, etc.

I'm curious what technology and software you higher volume folks use to keep track of everything. Is there a "silver bullet" application, preferably off the shelf, that I can customize to help me keep better tabs on all of my projects simultaneously?

Thanks in advance! Robert

Hi Ryan and Dean - I too have purchased a handful of properties in Orange County, NY and am looking for more good deals. We buy, renovate, and re-sell. If there are others doing the same thing in Orange or Dutchess Counties that would like to share notes, please reach out.