Pre-COVID, I had formed basically a ‘franchise’ of my business by creating a system and process that I could apply in multiple markets.

Every city has it's different system but taxation is the easy way to get the adress of the owners.

We estimate the After Repair Value as follows:We find the similar properties that have sold within the last 6 monthsThe properties must be in the same community and within a one mile radiusThe properties must be updated and/or renovated (If we're going for rental quality we'll look for properties that look like rental quality If we're going for condo quality we'll look for condo quality)The room count, bedroom & baths, must be similar (we'll make adjustments up and down if they are not similar)The square footage must be similar (We'll make adjustments if the difference in square footage is too large)We'll look for a minimum of 5 similar properties- We use 5 because when we have to challenge an appraisal they ask for 5 properties as part of the challenge)We use the MLS & a system called REMINE to find the similar properties.

He only inspects septic systems.

Hey Bryan, reach out to Paul, he has a great system set in place for how he manages tenants. 

Another classic failure to look at trade offs and instead focus on a pathos argument: "look at what this one person did to get around the system, the rule is terrible and we need to get rid of it".

The unit we would be in would be a downsize in space for us, but a better school system for our son (which is a huge reason we are selling our current home - to get him the best he can get). 

I roof here, a driveway there, an HVAC system there, a foundation repair elsewhere could eat through that easily.I would assess the condition of all major systems on each property and plan to have enough cash to replace each of them at the end of their useful life with some cushion for emergencies. 

Good for flips but need connections and right system with team.

I just started to work through the Loan Signing System this weekend and would love to chat with any current loan signing agents, escrow officers, realtors etc that are in the Lexington Area.