All Forum Posts by: Ryan Dossey

If you're in a competitive Real Estate market.... (Isn't that an oxymoron?) 

You need to stand out from the crowd. 

If you're managing a lot of units (as of today I own 39 and growing) you probably want to reduce the # of showings needed to get a lease signed right? 

ROI is always important as well. So how do you push rents for a better return?

We've been using the following system/software and it's been extremely helpful. 

http://www.transported.co/321-timber-glenn-way-ind...

This allows us to virtual walk through's of our properties so residents can understand the feel and layout better than pictures could ever tell them. (YES we still use high quality pictures as well) 

When a potential applicant reaches out we simply send them the virtual tour and ask them to fill out the free application. This weeds out the tire kickers/folks not interested. 

Only after we have a free app filled out do we schedule a walk through.

This is kind of like the "matterport" software however, it's DIRT cheap. The camera we use is a Garmin Virb which is around $700 and the software is called Transported. It only costs $24 a month. 

We also use this software on wholesale/off market deals we sell. This gives out of state/remote buyers a much better idea on what they're looking at and eliminates the need to set up pointless walk-throughs with folks who aren't serious. 

PS: If you have all the lights on when you take the pictures the tour looks even better. 

This tech is also totally VR ready. 

I'm buying rentals in other markets and this is a great way for me to really "see" properties my team is looking at buying for holds from afar. 

**Disclaimer: I have no affiliation, kickback, or anything with either of these companies. It's simply a tool we're using and loving. **

Heard of or thought of? 

Funniest was a guy/gal mailing Excedrin with a "tenants giving you a headache?" tag. The problem was the postal sorting equipment was turning it into a nice suspicious white powder. 

Thought of? We may still try this.... 

"Mowing for dollars". Paying our lawn crew to door knock homes with high weeds/grass in targeted neighborhoods. Let the owner know that we would love to cut their grass for free with no strings attached. Leaving them with a pamphlet on our we buy houses company and a breakdown of how much code enforcement charges to cut. 

Kind of a serving the community move and marketing play? 

I would highly suggest outlining and documenting (on paper) your policies, procedures, and core values for your investment business. 

This will allow you to uses data to make decisions not emotions. 

Most failed landlords are good people who followed their feelings. 

Let a late fee slide here, a month there, and BAM. 

Your lease should state what condition the lawn is to be kept on as well as any pet policies. This makes this a non confrontational business discussion vs a "fit". 

"Mr/Mrs. Seller section X states you are to do Y. You are in violation of your lease and this needs  to be corrected immediately."

Heck no. I would set them up to a Google Voice or Call Rail # with a message stating that their request will be processed within 24 hours. 

Another options (one I like better) is to use a ticketing software like Zendesk. This way they are automatically updated and notified throughout the entire process. 

I use Jynell Berkshire.

Drag an ethernet cable to her room from the modem. Problem solved. 

You'll notice in business that you tend to get raked over the coals on the nice extra stuff you do or offer. 

This is part of why it's important to stick to your core offer (housing). 

If I were you guys I would be inclined to discontinue providing this when your lease ends. 

My standard rehab on my rentals includes fans in bedrooms, garbage disposals, and dishwashers. 

Your quality of resident will be much higher. 

This is absolutely a pricing issue. If $950 can get a beautiful "open concept" 3/2 of the same size what looks like 1/10th of a mile away. (Could honestly be in the same development I can't tell) You're not going to get a $350 premium for the house vs their duplex. 

What is the PM doing to try to get it leased? 

I could see commanding maybe a $50-100 premium being a house over a duplex. However, the duplexes you're competing with on Allen Ridge (2 streets over) honestly look like a nicer property for $350 less. Your pms pics make the property look very "choppy" / closed off when open/modern is what people want right now.  

Insurance FINALLY came back in at $61,000 +/- a few hundred as our total. 

I do the following.... 

Audible at 2x speed + Physical book and follow along with my finger.