All Forum Posts by: Cole Lehmann

So currently we manage just under 100 SFH, and we use EZ Repair hotline. They are supposed to be helping from beginning to end, what I mean is receive the request, assign vendor, submit quotes, and make sure the job is finished. I am not totally happy with what I am getting.

Does anyone have a similar company or program they use?

If I were in your situation I would do this...

Purchase the house as a for sale by owner and save the % the agents would have taken (usually around 6%). This will help you with the line of credit issue for repairs. 6% of 125k is $7500. 

I would do some research on the area and find some sold homes to make your own estimate on potential sale AND lease prices, don't use realtor.com or zillow.com those are often not market specific. 

The best piece of advice you'll receive has already been given... DON'T make this a personal issue because the home has memories. Make it a business decision

Mack is right with the ARV... don't use the houses that are on the market... they are on the market still for a reason (often because the seller is asking for too much).

My last piece of advice would be to try and do everything yourself for the first house. This is for a few reasons. If you use a realtor to find a tenant, they will take one months rent as commission. This will leave you with little to no cash for inevitable repairs needed especially with an older home. This applies to the property manager as well, although they take a smaller amount they still take cash out of your pocket. They often find the most convenient contractor to fix the problems, perhaps you "hire" your parents as a property manager as needed and buy them dinner in return.

Good luck!

Hey y'all my name is Cole Lehmann, and I am looking to get into some investment properties and houses to flip... I am looking forward to hearing from everyone on here.