All Forum Posts by: Jim Rivell

 Hey @Asadullah Bin Amir, any reason you mention calling over texting? I started reaching out to absentee lists in a local market and gave both options a try but noticed cold texting was an easier method to get responses. I think others are hesitant to answer a call from a random number as opposed to when they see a message. 

Would hate to see you move on from your rental since it looks like great cash flow (even factoring in a HELOC payment) and youre locked into a great rate. But, family above all else if you need the cash for a new primary with your family that's a different story. Not sure from OP if the new primary property is a need or want.

Great post, thanks for sharing. Would be cool to see this updated throughout the years

Welcome to the community!

I'm looking to purchase another property and I'm able to get leads from various sources (comment below and we can talk), but now that I have the leads I'm unsure what to do? Are you making offers sight unseen? Are you scheduling visits to look at each property? Are you delegating to someone on your team? Let's talk!

All great advice from above. Depends on the ways you're trying to reach people. Driving for dollars and maybe mailers are cheaper options while using PropStream to scrub specific targeted audiences and skip trace those are more expensive, but would be more effective. If you have time but no money then driving for dollars, door knocking etc. might be your "go-to" while the others are more effect, more costly, but would save a ton of time. 

Time in the market beats timing the market. Owning assets is a true path to wealth as selling your time (working a 9-5 job) only scales linearly. Sure, with current market environment it might take more time or some harder work to dig up good deals but they can be found. Looking forward to hearing about your journey. 

Do you mean the holding company would hold an LLC which would own the properties or did i misinterpret you here?

Agreed with the posts above. We've been using Docusign as a small business with only 2 rentals so far and it's been affordable and easy to use. 

Do you guys open a separate savings account per property for security deposits as well?

We're currently running 1 bank account for our properties and shying away from 1 checking account per property due to our plans to scale. If we also open 1 savings per property we're talking 2+ accounts possibly per property if we factor in saving for Capex items as a separate account as well. How do you guys handle this?