All Forum Posts by: Andrew Carlson

@Jim K.

I’m a big fan of the Socratic method.

Anyways,

In the words of my mentor…”just keep going”

Simple words, but very profound if taken to heart.

@Jim K.

After reading your responses, I think I know how to help you.

I think what you are doing is unethical, immoral, and weakens the backbone of our country. From What I gather you are buying, rehabbing and renting cheap single family homes. Every time you come by and scoop up a single family home, fix it up and turn it into a rental, you are taking away an American families chance of living out their American dream- home ownership.

Lob some shots back at me!

@Bill F.

Full roll of toilet paper!?!? Do you know how insane the toilet paper market is since covid!?

@Brandon Allenczy

I know a landlord that charges $100 fee per adult to do the background check. He says it weeds out tire kickers and sketchy people.

@Stephen Jones

Priced at 5.3x gross income, this is a good deal. That being said, with a value add deal like this you are going to have to put in some sweat to unlock the value. Get those average rents up! For a town of 15,000 people, I don’t see why you cant get that average to $750 or $800 a month.

Try to get as much of the utilities out of your name. Plan on spending all your cash flow on renovations for at least a year or more.

Jump on this deal!

@Eric Smith

I did about 30 hand written letters. Got 2 call backs, one almost resulted in a deal but a broker swooped in and told the guy he could make way more putting it on the market (he’s right).

I’d say the hand written method is a good way to get GOOD leads, but you are going to get far fewer leads

@Ben Capone

I use trans union smart move. It’s ok. There’s probably a better one out there, but I don’t have a ton of background checks to do. Costs $40, which you can preselect who pays for it (you or the tenant).

As far as getting tenants, try a for rent sign in the front yard. That’s been the key for finding good tenants. I used Facebook one time and I just had too many tire kickers and people from ‘the big city’ that were enticed by the cheaper rents in my small town apartments.

@Michael Plante

Flip 1-3 apartment buildings. Not speaking from personal experience. Just basing that on what I’ve done to my 12 unit in one year of ownership. If I was experienced and well capitalized, I can realistically see flipping 3 small buildings like this per year. There would be far fewer moving parts than flipping 40 houses.

@Maritza McKinney

If it’s a multi unit apartment, you gotta make them quit or leave. It will affect the other tenants.

If it’s a single family home and her rent is currently up to market rate, I’d let her smoke. If she’s been there for 10 years, it’s gonna need a big overhaul anyways (paint, carpet, smell mitigation etc).

@Markell C.

My best renters come from a sign in the front yard. Bought it at menards for like $5 and put some mailbox type stickers on it with the managers phone number. Works like a charm, but then again I’m renting out c-class apartments in a small town, so there’s that.