All Forum Posts by: Mason Hickman

@Yogi Shah 

Try looking at VPN services for your telemarketer. I used NordVPN while living abroad to access US sites that had geo-restrictions. Hope it works!

@Alex G.

I'm surprised that they've pulled back for the time being rather than simply reducing their offers. When I was last looking at their prices, they were on such narrow margins with their flips, they didn't have much room for downturn. Guess we'll see when/if they come back onto the scene. 

I know a couple agents who tried advertising through Zillow premier and inevitably gave up on it due to unfavorable results. Sounds like @Jordan Moorhead may have had a similar experience!

@Luke Teson

Where are you purchasing your lists from? Also, what type of response rate do you get out of that script for the call back?

Another vote for waiting and contacting if rent has not come through by the end of the grace period. 

@Landon Malanoski

Congrats, Landon! You should run your numbers and consider what the numbers will look like if you move out. Make sure it will still cash flow with both sides tenant occupied so you can grow your portfolio and keep your duplex as a rental. 

Additionally, I'm a fan of having 6+ months of cash reserves so you can weather a downturn (similar to what we are seeing now). 

Then take action and do it!

@Zach Mueller

I personally wouldn't buy a BRRR property that will lose money for a few years; I think you would be better off going the traditional route and buying your next home when you're ready to move in (preferably with a live in flip or something you can generate some sweat equity in). When you buy your next "forever home," I'd try to find something with an exit strategy that would allow you to transition it to a rental on the off chance you end up moving again. That way, if the market dips when you go to move, you'll be able to hold on using the cash flow.

Would your current home work as a rental?

@Paul Z.

I would do your walk through and take photos for your records and then have the tenant do his walk through and document anything that is broken or damaged or that he wants to note for your collective records. Have the tenant send you supporting pictures and have it all recorded with an email trail.  

If the property is furnished, you should give the tenant an inventory list, too.  

@Shanai Rogers

I agree completely with @Stephen J Davis that you need to protect your credit by paying all your bills on time. Without good credit, everything will be that much harder for you.

Check out credit karma (free) if you want to see all the components that collectively weigh into your credit score.

@Vineel Kumar

Do you have financing contingency? If they are selling units for less in the same building, the appraisal may come in low (at the other sale prices) and that will give you good leverage to renegotiate or back away.