All Forum Posts by: Joseph Molander

Thanks so much this really helps me get my thoughts together your guys are great.

Hay BP, I need some advice. I closed on my first SFR in January this year, I should be completing repairs by the end of this month... might be mid next month. The question I have is this. Should I rent it or sell it? The reason I'm having trouble making the decision is if I rent it then The cash flow would be great. If I sell it I'll be able to knock out a substantial chunk of personnel debt. Also the timeline for my investment goals are pretty short, for now. Is flipping a better option of short term goals? Is cash flow more important than eliminating personnel debt quickly? Below are the approx. round numbers. Purchase + rehab = $55,000 ARV = $110,000 Rent $1000 - $1200 I'm really not sure which route to go toward. I would love to hear you thoughts. Thanks so much!

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This is great stuff I really appreciate help.  I'm getting on it right now. 

Wow thanks G.D.! This is great.  I have some homework to do to night!

Thanks Chris!  That's exactly what I thought.   Do you have any experience doing this?   Do you have any other advice moving forward?

Hay BP,

New question about Tax Liens.  I'm going through the county records and I keep seeing tax liens held by a third party (LLCs, individuals, etc.).  I was wondering if the current owner of the property can still sell the property even if there is a lien held by someone else?  Thanks for all your help, you're the best.

Hay everybody, I know this is going to sound like a humble brag but I'm too excited to not share it.

Last week between Tuesday and Friday I sent out 130 letters to out of county SFR owners. I answer (or return) 16 calls and I missed six calls (22 callers total) within two and half days. Let me just say, I wasn't ready, at all, for the call volume.

I got two calls from owners that said their house was either already sold or bank owned.

Three callers said "I will never sell!"  

One realtor almost coursed me out and though I was trying to scam her mother.  

Another realtor wants to meet with me next week to talk about a "bird-dog" kind of agreement. 

Two said "Maybe". 

One said "I want to sell, but not until December"

Six said either "I need to sell that house" or "I want to sell that house"!

But here's the kicker!  Three of the six that want/need to sell own over a dozen properties each! 

I'm meeting with one of portfolio sellers this evening to talk about their properties.   They're giving me a list of addresses to look at and then we are going to talk about the best way to move forward with the deal.  

So my question to all of you experienced investors out there is... Assuming all the properties are in good condition and there isn't a lot of deferred maintenance and the current tenants or good people.  What should my next course of action be?   

Have any of you close similar deals?

I'm a member of another investor forum and posted a similar message and someone in the group offered me a VP to close the deal... Any advice on that kind of arrangement? 

Shoot me a PM if you would like.   I look forward to your thoughts! 

Thanks, I'll shop around.  There are a couple companies in there area, hopefully I'll learn a little something.  I don't have a property yet, still looking for that good deal.  I I'm closer having the property I'll see if they are willing to negotiate a little.  Thanks again. 

I just talked to a local property manager about their fees and services. They are charging the first month's rent plus 10% of rent per month thereafter for SFR rentals. They market the property, manage payments, and hire out repairs/maintenance (after owner's approval).

Is this a reasonable fee?

What other questions should I ask them?

Any "red flags" I should watch out for?

Thanks for all your guys help!