All Forum Posts by: Ryan Garrison

THIS IS NOT A ZOOM CALL!

We are able to have our Happy Hour MeetUp Again! FB Group LINK

There will be some restrictions in place to make sure everything is as safe as possible and compliant with county COVID guidelines, but it will be AMAZING to see your smiling faces and connect In Real Life (IRL) again!

Has your Real Estate business continued to move along during the shutdowns?

Or did everything get stuck in a stand still?

What are your Haves, Wants, and Needs?

Let's connect again and help each other grow!

Here are topics often discussed at our MeetUp:
-Wholesaling
-Flips
-Syndications
-Landlording
-Tenants
-Law Changes
-Problem Deals
-Recent Deals
-Deals Newly Available
-FSBOs
-Foreclosures
-Hard Money Loans
-Real Estate Agents
-Construction/Rehab Costs
-And More...

Want a free beer? Show up about 15 minutes early with an off-market deal to talk about with Ryan 🍻

Come Hungry and Thirsty! Hops on the Hill lets us use this space for free, but we do need to meet food/drink minimums. Let's keep this MeetUp Free for 2020 and show this local business some love!

You could also get an Option or Contract, then offer cash for keys (or cash for "get the heck out of here and don't come back"), and only close after they are gone and you have secured the property.

There are lots of reasons people don't do it. 

Mobile homes are like cars. They tend to depreciate over time.

If in a park, many parks will not let you have renters occupy the mobile home. 

You will get a lower quality tenant than in a SFR.

You will likely have increased turnover. 

HOWEVER

If the mobile is on it's own land, it can still pencil to be a 2-4% price to rent ratio if you find a good deal.

Just because the investment strategy isn't popular doesn't mean you shouldn't do it. There is a lot of value in doing something that everyone else isn't doing. 

Is the Juice worth the Squeeze?

I would buy a property with squatters in it IF I was getting such a good deal that I would be willing to wait out the current Political climate - where I could not lose, OR I could structure the purchase so that the seller got a balloon payment after the squatters were out, OR I worked up seller terms where I started making payments to them after the squatters were out - with no money out of my pocket until then.

The bigger the problem you can solve, the more profit you can earn.

Hard No.

I make them use Zillow or Cozy and they can then use it for other landlords too, without paying again. 

How easy is it to fake? If they can't shell out $40 or whatever, it probably isn't the right tenant.

Join us on May 29th at 4pm for the Monthly OlyREI Happy Hour MeetUp.

This month, we will be joined by Joe Symonette of NW Home Experts and eXp Realty. Joe will be sharing his story of how he built several successful businesses to produce multiple streams of income. He will also be discussing being an agent with today's regulations, and what he thinks the best moves are in the current economic environment.

Grab your favorite beverage and join us for another great Zoom call.

If you are doing it in an LLC, you need to head to the IRS site and set up an EIN to get a bank account in the LLCs name.

If you are not going to run everything through an LLC, just open an additional personal account. You can do it at your same bank or a different one than you normally use. HERE IS THE LINK TO GET AN EIN

Stessa is an awesome tool to keep track of income and expenses related to your property as well. They can download your transactions from your bank, and even auto-tag recurring transactions.

Hey Tom, Good to see you. I sense more non-performing duplexes coming your way soon. :)

Is it possible to only get sent the owner finance deals?