All Forum Posts by: Jon K.

A group of New York investors reached out to me and asked whether I would be interested in flipping properties on their behalf. I learned that there is a company in Austin TX named Homemade that performs this service but there is no information on what they charge and what their ageement looks like. Looking for ideas on how I should think about structuring such an arrangement.

Reventure has suggested that Connecticut is the best market in the country for investing in flips.

I charge around $70/hour, I set my clients up on a flat amount per month though. So I take what you have and what you expect, estimate the time it would take in a whole year of work and create my flat rate.

I notice short term rentals are about 1 hour a month of work per property, since we need to track each property's Profit & Loss for Tax time, this is also tracking a mortgage and depreciation as well for that property. LTR are about 40minutes a month each for the same tracking. 

Fix and Flips are different, you are running more of a product based business and needs to be tracked a different way, that one is more of 2 hours a month/flip to make sure we are classifying it correctly and tracking it as a project. 

Abel is correct that you will pay about $65/month for the software as well, assuming you have more than one property. With just a quick estimation Jon K's bookkeeping is under what I would estimate with only the info he gave me, seeing a bank statement and asking more questions would give me a better idea. 

I am more than happy to hop on a call with you and see how I could help and give any opinions. 

Ok, follow up question on doing comps yourself. If you are NOT a real estate agent and don't have access to the MLS how do you recommend going about this? Any sites or something else to go to or is it just better to get your own realtors license?

@Jesse Rathe Great question man. Propstream tends to be the one most people use but Dealmachine has some amazing data that propstream doesn't.  Our biggest clients tend to use propstream for most of their offline marketing data then backfill it w/ deal machines 911 data (which is another way to verify the contact info of a property owner and it's really accurate). 

Like @David Ramirez mentioned, inbound marketing is really effective and attracts sellers who are already raising their hand to say "I'm looking to sell".  About 60k leads a month come through our clients sites in most every market in the US/Canada 100% online and it's a really consistent, but it does take some work and investment. 

But yes, you can't go wrong w/ propstream or deal machine, the biggie is how you filter the lists and how you market them. 

Follow Ryan Dossey on youtube, he shows how he uses propstream and dealmachine to pull lists, market them w/ direct mail and use an effective website to convert them. Hope that helps! Good luck man and don't hesitate to reach out if I can help w/ anything on your journey!