All Forum Posts by: Brian Kempler

A guy I offered $2 per bandit sign quit after one day I think the old forum threads suggesting that pay may be too low. Or maybe I was unlucky.

Anyone else paying a sign placer? Just curious what rate works well these days. I'm thinking of paying $3 per sign. Put out 5 per hour, get $15/hr. After gas maybe $12.

Or moving to hourly, maybe $15/hr with an 8 sign/hr requirement. People tend to like that certainty and target so I think this is a less risky payment structure personally.

Hi, I'm looking to establish relationships with wholesalers in my target area to buy their low equity leads off them (for seller financing deals). Can you guys suggest ways to find them?

So far we are doing this:

1. Looking at craigslist ads advertising rehabber specials and getting their phone numbers

2. Looking on facebook groups for the local REIA, wholesale houses etc

3. Posting ads to those same groups offering to buy low equity leads.

I am looking to add direct mailing, about 1 per month to stay top of mind.

Any other suggestions?

Thanks guys, Apartments.com, Rentler and Stessa are all free which is nice. Some competitors have $100-$250/month minimums!

Apts.com is the sharpest overall and interestingly, the lowest fee to the renter (if using CC).

Stessa is ugly and unintuitive. Maybe I need more time with it.

Innago is also free but has banned VOIP numbers. First service I've seen other than Google Voice with that policy.

Rentler is like Apts.com but a little more costly for CC payments, and no reporting features.

What makes me nervous about Apts.com is there is a big thread here on the transition from Cozy. Apts.com has a lot of complaints in that thread.

If it ends up not working out Rentler will be what I switch to. Thanks again :)

Just wanted to check in and see if people are having better experiences with Apartments.com or not.

I never knew Cozy. I created an Apartments.com landlord account and added a test property and renter. It worked well so far. I'm curious where the hidden issues may lie. Or if they are gone at this point.

Alicia Cox advocates putting a sub2 deal property in a land trust (from the seller) before buying it.

William Tingle advocates not confusing the seller with the additional paperwork and creating a potential tough discussion in front of a judge. He suggests the land trust just buy the property. This of course records a change in ownership.

I think I side with Tingle's position more. I wanted to ask you guys how often Lender's even look up title changes on properties they have liens on. I understand the updated payer and insurance adjustments will tip them off anyways but am still curious about the actual lookup/review process that goes on at banks.

What software are you guys using to ensure you're being paid on time? Ideally something that flags lates and defaults.

1. Historically, have lenders accelerated loans at higher rates during recessions?

2. If not can you guys think of any other environments when holding lots of sub2 debt puts your situation at greater risk)?

@Chris Seveney, did you have a credit repair process in place (mortgage broker or required credit repair)? 

I think the cooperative lease option may be an impediment to helping the TB get the mortgage. i could be wrong but I doubt you can write an option to have any assignments on it credited towards a down payment. It is clear the assignment is a fee to a middleman.

The sandwich lease/option doesn't have that issue. Option consideration can deduct the purchase price at minimum, and perhaps partially fill the down payment (some investors disagree with this). More complex agreement, sure, but I don't see that as a negative.

Numbers look easy to hit (high interest loan compares favorable against market rate even going above it).

Trouble I see is non-payment risk. 

In a fast foreclosure state would you guys consider flipping a warzone property you got for a song, to a buyer with some down payment who'll buy as is?

If not I'm curious why you'd stay away.

Hi Chris, I can, but assignments make less than sandwiches (no back end profit). Hence looking into liens to capture that extra profit.