All Forum Posts by: Ryan Dossey

We routinely refer out leads that are non deals for us. Great way to build "equity" in relationships as well as just bless folks. 

About 30 days after mailing. 

I was just sent a "deal" from a wholesaler that literally used fake comps. They provided addresses and sales prices that didn't sell at that time or for anywhere near that price.  ($40,000+ inflation on one)

They were "asking" 105% of ARV but made it appear they were offering a BRRRRR deal.

If you're an out of state buyer get reviews, verify comps, verify condition, or.... just spend the $500 on a plane ticket to get your eyes on it. This could save you a fortune. 

We get tons of calls from out of state investors dealing with the aftermath of groups like Oceanpointe that don't do enough volume to get caught. 

One this week bought a house based off of the pictures (looked gorgeous!) Only to find out when she flew out (after closing) that the home was gutted down to the studs and the pictures were from an old listing. 

We've offered this a ton but we will FOR FREE get eyes on any property an OOS investor is looking at in Indianapolis. 

First off James. I'm super sorry that they said those things as well as some of the others that I've seen about you guys. 

I do think it's a little bit like the pot calling the Kettle black when you run #tenantsfromhell, talk about garnishing their food stamps, and call them (wordbpwouldn'tapproveof)  savages. 

Don't get me wrong I get the venting. We just had a $57,000 flood by a resident we had to evict. I just don't think you can be super surprised when they vent back. 

Hey guys! 

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@Regina Davis Wow! Awesome. Thank you for letting me know. That speaks volume to your character and how you will do in this business! 

@Doug Utberg Great thoughts. We have discussed charging a higher SD for criminal issues and only auto rejecting for evictions less than 5 years old. 

We have 3 or 4 units that are in areas that I would call C-Class. I obviously prefer and primarily work in nicer neighborhoods but we have a few properties in Fringe areas. 

Our typical criteria is 3x our rent, no evictions, and no felonies. With our potential tenant pool we are weeding out a TON of applicants. 

I'm curious what you guys are looking for in C-Area residents? 

We're looking for long/positive rental history and solid income. I'm more likely to be flexible on legal issues that don't involve an eviction.

It will cost you maybe 1-2k to get licensed. 

This will give you more credibility with banks, private lenders, other industry professionals, and save you from lazy agents. 

Honestly... Your offer is really not THAT low. If you were offering 40k... Sure. But 60k isn't that nuts. I would explain your offer to him going in great detail over the repairs and ask him again to present your offer. If he doesn't.... Call his managing broker. 

I personally wouldn't invest in Marion (city). We do quite a bit around Indianapolis in Marion County but the demographics/employment in Marion City aren't my favorite.