All Forum Posts by: Chad Deberry

@Adam Hollandsworth I'm searching for exactly this. Did you have any luck? 

@Mohammad (Asad) Asaduddin I think we can handle the guidelines being it's just intro level calls and setting up apointments for us. What's tricky is how do you compensate them? Ideally based on performance over an hourly but seems hard to track. 

Does anyone have experience outsourcing cold calling to a VA or third party?

This is for commercial real estate and I can provide lists with phone numbers. The cold caller's job would strictly be generating first stage leads from sellers and passing them on to us. No talks of price, negotiating, and making offers. I'm not sure how far down the line I want them to go, but for now this seems correct although i'm open to ideas. 

Ideally I would rather compensate someone based on performance than hourly. Currently looking into Upcall and some freelancers at Upwork. Any other suggestions or feedback would be greatly appreciated!

-Chad

@Robert Rayford PM if still available

Can anyone give me (or point me in the direction) a step by step process of finding deals from the court house? My source for finding deals (i have only done 3) are from the MLS and craigslist. Sorry if this seems like an obvious question but I've browsed the forums for answers and for some reason am confused by this process.

Thanks guys! @Kevin Siedlecki @Michael Le @Eugene Beard

These were these expenses from the actual listing. With my own analysis I was getting closer to a 10% cap. 

I talked with the seller and management is already in place at 8%. He says the vacant unit needs some cleanup/repairs before leasing but other than that it's in good shape (when asked about roof/heater/electrical etc). 

I thought the income seemed low myself. It's below market rate for a 2br according to rentometer but thats comparing to single family homes. 

Found what I think to be a descent deal on a 4plex

It's listed for $125k with a gross income of $22,800 fully occupied. There's currently 3 out of 4 units leased. The building looks to be in pretty good shape with some recent renovations and cosmetic work. 

Expenses according to the listing: 

Annual Taxes: ~$1134

Estimated Insurance: ~$1411

Estimated utilities/lawn/vacancy: ~$1704

Estimated Property Management: ~$1824

According to the analysis from the listing we're looking at a net of $16,727 and a 13% cap. With my own analysis accounting for 40% expenses off the gross income i'm still looking at a ~11% cap. 

I normally would manage the property on my own but it's 3 hours away from me. 

I've never bought a mulit family property so if i'm missing anything please let me know!

@Jim Smith have you considered AirBnb? I recently bought a 3BR home and have all 3 rooms separately listed on airbnb (as well as renting the entire place for a bit more) and it's working great. Not only might you make more money, but you never have to worry about bad tenants/evictions etc. Just a thought. 

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My brother is in a pretty good spot on his first condo. He bought it as a short sale after the crash for about ~$65k and currently owes about ~$55k. He recently bought a new house with plans to sell the condo afterward, but is now deciding whether to turn it into a rental.

Comps on the condo: ~$110k

His mortgage payment with HOA ($150) are $750

Rental comps for this neighborhood: $950-$1k

My question: What are his best refi options to turn this into a great rental?