All Forum Posts by: Joe R.

I'm trying to pair down my search to a CRM that would allow click-to-dial, general lead management, texting, etc. for our acquisition platform that we are building. Initially signed up for ringcentral only to find out it would not integrate into salesforce. I have come across Keap, LionDesk, Mojo, and couple other ones. Has anyone had experience any of these before or any other ones?

Ideally we are looking to use our sourced to lists to:

1. Two users have their own separate numbers and logins for calls
2. Have the click-to-dial functionality for 2 users and the call get logged with some notes
3. Be able to high level of lead management through various contact stages
4. Send follow up texts for no-answer

Also, I've seen that some CRMs are able to pull in data from MLS, anyone with experience on that front as well?

Thanks all in advance for your time!

@Rob Barry Two core pillars of a good rental are the quality of the rehabbed home and quality of the tenant. We place retail and hud tenants, and you have to do your diligence on both. Property managers, especially that manage 100s of units, will never have the capacity to do proper due diligence on every applicant so I would recommend working with smaller shops or getting involved in the tenant approval process. It will be more hands on but you’ll learn and will be able avoid most of these nightmare situations.

@Louis Zameryka from my experiences in wealth management, I can understand your wife's reservations about jumping into real estate. It took me a while to get comfortable with the idea of owning an asset rather than a ticker. After having managed and analyzed variety of value and growth portfolios (including equities and fixed income), real estate as an asset class has outperformed all other asset classes. Things to keep in mind when comparing RE vs your securities portfolio are: principal and interest paydown, taxable benefits (depreciation, operating expenses), higher coupon (cashflow from rent) than most high yield bonds, and 1031 exchange - to list a few! But that doesn't mean RE doesn't have inherent risks, which is where its important to work with a quality provider, especially if you are looking to invest passively to diversify your existing investments. Take a look at our website, www.excellerenthomes.com, we offer couple different strategies within the passive cashflow space. If you have any further questions, feel free to reach out! 

@Dell J. - agreed. There is no blanket rule that can apply to this. Get the proper inspections done to decide to determine whether the property has any major issues that are not fixable. Take a GC or subs with you to also provide you an opinion.  

@Nick Wilson I would say do all three things you mentioned. It may require a little more time commitment initially on your end but I think it would be the right thing for you to do.

@Chris Hill - I think it depends on your short term income needs and risk appetite. If you don’t need the income coming in and are ok with levering to expand then you are gonna be fine. Also, if cash flow is remaining positive then you are mitigating some risk there.

@Steve Rayo I'm glad you revived this. We are actually working with couple investors on this strategy now as it's becoming more and more popular due to the elevated level of returns. 

Here's the blurb I had on the other post: "Being on the project management/development side, I would highlight the importance of having a quality team in the area you are looking to invest in. There's a lot that goes into doing the BRRRR turnkey deal correctly. There will be service agreements, escrow accounts for construction holdbacks, POA (in certain instances), and more. Additionally, you have to be mindful of how the rehab and project management costs are treated so they are included in the cost basis upon refinancing." Make sure you discuss all of this upfront. 

@Scott King In your initial post you noted the concern with the level of rehabs the providers might be doing. The level and quality of rehab should not change, regardless the type of strategy you are looking to utilize and always ask for upfront equity compared to the comps. It's important to have these conversations up front with the provider you are working with. We mainly work in the value-add space so we will go in and replace the bones of the property including, plumbing, electrical, furnace, ac, and anything else that is at the tail end of life cycle. 

@Crystal Smith I couldn’t agree more! That’s why it’s always interesting to see out of state opinions based on heresay but hey it’s good for us cuz it keeps the competition out ;)

@Johan K., I agree with @Rabih El-Khoury that closer to downtown you would be looking to do an appreciation play as the values have not left much room for cash flow, but there are still options if you look 20 mins or so outside of DT. We have been working with investors from in and out-of-state to work in B class neighborhoods where we are able to provide 15% to 20% cash-on-cash returns and on the BRRRR side its ~25% to 30%+. If you'd like to discuss further, feel free to send me a personal note and we can chat.

@Kenneth Biason We actually just closed our first BRRRR deal with an out of state investor, who initially acquired a fully turnkey property from us. Being on the project management/development side, I would highlight the importance of having a quality team in the area you are looking to invest in. There's a lot that goes into doing the BRRRR turnkey deal correctly. There will be service agreements, escrow accounts for construction holdbacks, POA (in certain instances), and more. Additionally, you have to be mindful of how the rehab and project management costs are treated so they are included in the cost basis upon refinancing. If you have any questions, feel free to ping me and I can give you a further breakdown of few other things.