All Forum Posts by: Alyssa Dyer

We use Jan Banks with Inside Out Home Inspections. I like Sooner Home Inspection as a backup.

Hey there- I have my national attorney who I use for entity formation, IP, contractor agreements, etc., but everything real estate I go local. It's helpful to know someone who knows everyone in the market... so much happens on the golf course and over lunch. 

We work with Danielle Durban with Capes and Sokol for national needs. She's stellar. We work with Ed Lee for anything with Oklahoma real estate/OREC. 

If you need anything more specific say the word and I'll do my best to help! 

Totally agree with @Steve K below. Some things just aren't worth the risk! 

lmao. You and me both! 

Basically just write down all the little things you do when a tenant moves in and/or moves out and create a checklist for it. When you build a bigger portfolio it's easy to forget to turn off the gas bill and get stuck with a $50 bill for 6 months before you catch it. I'll put a couple small examples below. 
- get a copy of the tenant ID
- do a move in walkthrough 
- confirm paperwork is compliant 
- explain fees, paperwork, and relationship to tenant 
- collect deposit 
- turn off utilities and lawn care from your name 
- send tenant breakdown of deductions from security deposit 
- look up tenant criminal history 
- perform tenant creeping 

Document Storage: I've used Google Drive for document storage forever. 

Tasks: In the beginning I just had a basic Google Doc with the checklist on it. As we grew we evolved into systems like Asana to keep track of all outstanding tasks. 

Appointments: we've always just used google calendar. We're just now getting to a place where we need automated scheduling options. 

Hope this helps!

Vetting contractors is probably the hardest part of what we do. We don't have a foolproof answer. Generally I've found: 

1. The guys with flashy trucks and marketing haven't been great for us
2. Ask them about their process. Ask how they schedule and plan. You're not looking for anything specific here, just looking for a system that they stand behind. Avoid "you know, we just take it day by day."
3. Ask them how they handle change orders.
4. Ask them how they bid properties. My best contractors take photos, measurements, get in attic, look at all mechanicals, and take a look at the crawl space. 
5. Pay attention to their draw schedules and money. Do they need a ton up front? Not a deal breaker, but pay more attention with those guys. It usually means they run their books thin and it'll be easy for them to be in a tight spot. 

Honestly, if you do this long enough you'll get burned by a bad contractor or two. Learn from the experience and move on. Don't let it keep you from trying again. Also make sure you have systems (even rudimentary) and contracts to protect yourself. 
 

For sure. I actually own one of them ;) I just mean that more often than not I don't see investors take the time to vet teams and set realistic expectations with themselves and/or their partners. It leads to a lot of frustration and chaos. 

 Her name is Lauren Hardy. You can search on YouTube, Instagram, and Bigger Pockets!

1. Your team is normally the biggest piece of the puzzle. It sounds like you've got that figured out. Build the relationship. Stay committed to solid systems. 

2. Inspection and walkthrough video or detailed photos. I know videos are super popular, and I understand why. I prefer photos for their details and nuance though. Especially when issues arise after closing. 

It gets easier to buy sight unseen as you do it more! Congrats on "doing the thing" and taking the risk.

@Sarah Nelson

I have family in Ardmore!! I’d love to hear how #2 goes!