All Forum Posts by: Taylor Jennings

We are in a C Class Neighborhood and don't want to replace the windows but the ropes/cables are broke that hold them up...

Any cost effective quick fixes out there?

@Brandon Hughes yes.

If you download Podio you can create your own app.

I'm working on getting my published as you see it listed above.

Download Google Drive and use Google Sheets (Google's Excel)

It's a live document in the Cloud which is accessible on any of your devices.

Or learn more about MailChimp. It's a free service which will allow you to do Email marketing campaigns and track some results.

@Jennifer C. You go girl! 585 houses is awesome!

Here is what is worth sending mail to...

Would you feel comfortable walking the dog around the block around dusk? (The dog is a Dachshund...)

FILTER

All the rest should be good to go =)

Don't spend too much more time filtering other than that.

The way I see it, it will take you less time to disqualify somebody that calls than it will disqualifying them before you send a letter.

We saw between 13%-18% call backs and about 80% of those calls came within 48hrs of sending the letters.

That being said, I would recommend you send about 100 at a time or split them up to 50 every other day.

Get your feet wet with screening callers.

Here is my layout in Podio... I recently submitted the app to be shared so it's still pending, but hopefully this will help you with your questions!

• Subject Address
• Date Lead Received

• Seller's Name

• Phone Number

• Email

• Bed

• Bath

• SqFt (Most sellers don't know this. You can find this on zillow after call.)

• Basement

  • NONE
  • Finished
  • Unfinished
  • Crawlspace
  • Cellar

• Garage

• Units Occupied

• Situation ("Why are you looking to sell?")

  • Inherited
  • Pre-Foreclosure
  • Tired Landlord
  • Moving
  • Short-Sale
  • Absentee Owner

• NOTES (Anything seller says pertaining to property or why they are selling)

• Repair NOTES (Find out if the ceiling is leaking anywhere!)(I always ask, "If you had a $20,000 gift card from Home Depot what would you update or fix up on the house?") PS Don't say Home... A home is more valuable than a house =)

• Roof Condition ("When was the _____ last replaced?")

  • < 10yrs
  • > 10yrs
  • Some Leaking
  • Doesn't Know
  • REPLACE

• Water Heater

  • < 5yrs
  • > 5yrs
  • Doesn't Know
  • REPLACE

• Air Conditioner

  • < 5yrs
  • > 5yrs
  • Doesn't Know
  • REPLACE

• Furnace

  • < 5yrs
  • > 5yrs
  • Doesn't Know
  • REPLACE

• Mortgage Amount ("Is there an existing mortgage on the house? How much is left?")

• Liens/Taxes Owed

• Asking Price

• Asking Price Flexible ("If we could pay cash and close in two weeks is that price flexible?")

  • YES
  • NO
  • MAYBE

• Asking Price NOTES

• RENT RATE (Check Rentometer.com)

• Made an Offer (Making an offer over the phone is tough depending on what market you're in and if it's a FLIP lead or a Buy & Hold)

  • YES
  • NO
  • ACCEPTED
  • REJECTED
  • MAYBE

• Accepted Offer

• Seller's Schedule to Visit (Notes)

• Date to Visit Property

• Who is Going to Property

• Estimated Rehab

• MAO (Maximum Allowable Offer)

• Sent Purchase Agreement

• Lead Source

  • Driving for Dollars
  • Bandit Signs
  • Prospecting
  • Wholesaler
  • Probate
  • Absentee Owner

@Bill S. I guess the rug makes sense.

@Wayne Brooks I can see where you're coming from on the formula. I feel a 1.5% is a happy median? That's a 10.8% CAP with 40% Expenses. Selling turnkey at 2.0% is tough...

@Michele Fischer Good point on the dishwasher. Why not the ceiling fans though? If the ceiling fan is existing and doesn't need to be replaced, should we leave it?

@Alex Craig Your model is what we are deciding between. We had an unforeseen $5200 come from fixing the foundation so it's tough to push another $1700 for planks everywhere right now.

@Shawn Holsapple I like that technique for getting an extra $50/mo. I think we'll implement that.

As for the sub $700 rents, this is right at that borderline. I thought about turning it into a 3bd/1ba and with you suggesting the same thing I think it's worth getting a quote on. Thanks for that!

Ok two more questions for you all:

1. Do you replace all mechanicals if they are 5+ yrs old OR would it be worth keeping them if they still work and simply attach a 3yr warranty (3yr+?) for Turnkey Buyers?
2. If the basement leaks, but there is a drain in the center which typically prevents it from flooding up, would you add a $1000 sub pump anyways?
   1. *It's a full basement, unfinished, and will definitely be used for storage. We just spent $5200 on foundation repairs and if we consider doing another $1k in planks and another $2k for adding a closet, wall, and door for a 3rd bedroom then we are really pushing our margins on our first turnkey flip...

@Clay Smith I always find it's difficult to remember turning on and off my GPS to track my mileage.

I feel it would be cool to just Tap the Mark button on your phone to located where you are at (Current Location) then once you arrive at your target destination you Tap the Mark again to connect the routes?

Oooh, that's interesting... You're saying it would be nice to be able to put in/add the houses you visit frequently (friends and family etc) then if you visit any other house outside of that list it will track you automatically?

I like that.

@Andrea M. Thanks for your feelings on the matter. I was nervous about the dishwasher. I figured I would come in around those rent rates starting out too. I know some other turnkey companies locally do all vinyl layovers so this sets ours apart.

@Steve Babiak @Bill S. I can see planks in the living room no doubt, but they bedrooms too? Personally I wouldn't like stepping on to cold floors every morning but hen again I'm not living there...

@Alex Craig sounds like there is a consensus. Are you saying to do the bedrooms like this as well?

@Brian Lamorand I've got a few. I can send you my local REI contact list if you shoot me a private message.

Click here to view meetup event

Location: The Speak Easy in Broadripple

5255 Winthrop Ave, Indianapolis

Sign in and social starts at 7:00pm Thursday June 5th (Try to show up on time!)

It's the big gray building with a blue # on the south side of the warehouse.

Call me if you have issues finding the place: 317-six 9 six-3434

• Educational chat: STARTS @ 7:30PM

  • Where to market for deals

  • How to market for deals

  • CRM and how to use it

  • Using a script to screen sellers

  • Analyzing a deal without pulling CMA (comps)

  • Making a 'Soft' offer

  • Visiting a property

  • Making a real offer

  • Putting the house under contract

  • How to assign the contract

  You may be interested in this meetup if you live in noblesville, Carmel, Westfield, fishers, Anderson, or zionsville.

@Shawn Holsapple I hate how I don't get alerts unless I monitor topics I post...

I figured I would do the a-corp then the llcs below. Thanks for the reassurance buddy.