All Forum Posts by: Peter Mckernan

If you don't have a team of techs, or people that can get to it that you trust and no PM company in place then I would recommend reaching out to a couple trusted people in that area that know the area who would have vendor contacts. This is an example of calling a realtor you know, a person like a flipper or maybe even another tradesman that does floor and he can get you a trusted electrician. 

Get photos of the work before and after from the person before paying too. Make sure they show you the work they have done so you are not blindly sending the $500.00 or $150.00. If you Zelle the person send $5.00 confirm with them and then send the rest of the money. If they pickup parts have them show you the receipts and make sure they are not charging you tools and anything else along with the work. So many things that you can do to put a safeguard up. 

Those ones that are solid one escrow company I work with uses.. ID.me or something like that to get a vetted ID done and all the other stuff. 

Yes, and there are big companies that do employee vetting through their online portal that would be good to link up. 

 Quickbooks is great and something that is extremely useful.  

@Parris Taylor

I agree with Alex, the time of getting vetted and doing that throughout the daily grind of everything else is a time suck. There are new vetting tools through some rental app software, but as in all things there are loopholes that people can fake and put the owner/agent/PM in a bad spot if they simple take that stuff for face value. For example there is a tool that send the boss/employer an email and they can check off that they are legit as an employee, but this can be a friend or random person the tenant knows putting the information down. Even this you need to vet, and call/email to verify. So, there still is a lot of time spent doing all these steps.

I would ask around locally to see what flippers are using in your area.. Or you can ask a local (in state) hard money person they are good resources too since they need their deals to have insurance on their deals. 

Not to mention the tax challenges too on top of the insurance... 

@Andy Rousch just to post listings, the bigger units usually they charge for the listings on the site.. I have not see great stuff with rental checks etc. There are other platforms better for this type of background check etc.

I actually heard about this about a year ago from some investors that have a lot of properties in the midwest. There is one company that I have heard of never used Obligo, but like I said never used them. I would vet the companies and then make your decision. 

You have to have MLS access, it is information that maybe seems a little antiquated; however, it is the most exact information you will get on the comps and it will water everything down. The use of Zillow or Redfin for example are online platforms that are supposed to be easy to find a home and scroll through homes while on your phone at night or on the weekends. This information is more for quick saves, gather data about the home you maybe want to see the next weekend, but it does not give you years of data in front of you to source the out price of the home you are looking to sell. This is what the information in the MLS is so important to obtain.

You need to talk to your local GCs, they can pinpoint a cabinet shop that have the cabinets that you want for cheaper. The local GCs have the cabinet shops they go and can give you the contact. Sometimes you have to get the GC to get the cabinets cause they have an account there, but I would talk to a lot of GCs to see where to go and shop around.