All Forum Posts by: Kaelyn Motzel

@Benjamin Blackburn We have 11 rentals and 3 owner finance. Two of the owner finance deals are sold and one just went under contract. We just started that about 6 months ago but would really like to get some more under our belt! I'm a big Mitch Stephen fan too! How about yourself?

Use an RMLO. We use AugustREI currently https://www.augustrei.com/residential-mortgage-loan-originator/

The likelihood of collecting money is very small. We usually just place the tenant in collections after proper notice and move on 

Hey Daniel, that's awesome!! I really enjoyed Cashflow Quadrant and Wealth Can't Wait. 

Piggybacking on what Turner said, I think networking and getting to talk to people who have actually done what you want to accomplish has been the biggest help. People will love that you are a builder and will probably have a ton of questions to ask you as well. 

I also think YouTube has helped a lot. I watched probably close to two hours a day on YouTube when we first got started and I still use Youtube and podcast nearly every day. 

@Eileen Lopez We manage airbnbs and I use turnoverbnb.com to find new cleaners. I would imagine cleaners get a ton of business through that site! 

At the end of the day, they still make a commission! And investors are repeat buyers. I've also seen some out of state investors pay their agent a little more commission. 

I always assume the worst in my numbers. Good thing is the tax rate is based on the tax assessed value. 99% of the time that number is lower than your actual purchase price. But I like to run my numbers at the new purchase price just to be safe and not be surprised come closing.

I just finished Building Wealth in with Self Storage by AJ Osborne and he recommends setting your tenants up on autopay with CC. I believe he uses Noke for his PM system. I highly recommend his podcast "Self Storage Income Podcast"!

The lender can call it due. We quit deed ours into an LLC after the refi and use an attorney to do so. From talking to multiple lawyers, it's unlikely the bank will call the notes due, but it can happen!