All Forum Posts by: Ryan Mullin

Our service: We advertise and show properties.  We prescreen tenants, process applications, sign leases, pull credit, etc etc.  

We handle leasing houses for those who want to focus on other aspect of investing and managing buy and hold properties.  

• Our fee is the 1st months rent. 
• We only get paid if YOU approve our tenant.
• We work on a non-exclusive basis.
• 5 agents in our office competing to fill your vacancy. 

You can read about our service here.  

@Lane Kawaoka and I are traveling in South America right now.  

Small package deal in Indy.  

http://fshouses.com/4-single-family-houses-cash-co...

170k total. Cash.  $42,500 per property.   Average rent is 690/month.  

Professionally managed by @Ashley Mullin of FS Houses.  

Feel free to contact @Jennifer Roberts if interested.  Serious buyers only please.  

1326 Chester

321 Wallace 

1401 Phillips 

3936 Fletcher 

All 4 properties for 170k total.  Cash only.   42.5k per prop.  Average rent = 690  

See more info here:  http://fshouses.com/4-single-family-houses-cash-cow/  

Contact @Jennifer Roberts if interested.  

@Pili Yarusi  

You need to talk to Derek Lacy.  

@Dan G.  I feel like rental demand in general gets slightly stronger during an economic downturn.  At least thats what I saw in 09, 10 and 11... in my market at least.   I felt like vegas and orlando rentals did just fine across that time period.  Investors that bought rentals during that time frame in those markets and phoenix (and few other markets) just killed it.  

Do you mean more sever than 08 downturn?    

Yes you do need to communicate with the parents if they are on the lease.  However this is 100% a civil issue between the defaulting tenant and the remainder tenants.  They ALL signed an agreement and they need to live up to it.  They need a separate contract between them that mutually releases the defaulting tenant off the lease and this has to be ok'd by you the landlord:  IE; They must qualify with out that last tenant.  

Technically you don't have to do anything in this situation, but you probably want to work with all parties to reach an agreement.  Since there are so many roomies involved (and parents) Im sure they qualify with out the defaulting tenant.  If not you can require them to find another roommate that qualifies in order to get them off the lease. 

Remember that THEY chose to be roommates and they are all responsible for the lease. 

If the one non-paying tenant won't give up the key and is "stealing" from the house...  thats a court case / restraining order between them.  

Obviously I don't know Ohio laws this is just my opinion from dealing with this sort of thing in our market.  We had this happen recently with a boyfriend, girlfriend breakup...  They both ended up moving out.  Luckily Daddy co-signed and he paid until we found another tenant.  :) 

Best of luck!    

In my experience a title company wouldn't move fast enough to be effective on auction day.  In Indy the bids come out at 10am - 10:30 and money has to be in by 3pm and then auction starts at 3:15.  

I typically drive 8 - 15 deals as fast as I can.  Some I know I don't want so I waist no time getting out and looking or doing any research.  When I find a deal I text it to the office to have my assistant / office manager look up the parcel number and check on board of health and code enforcement status. We look to make sure that if there are repair orders or fines on the property, if so that they are manageable.  

The 2 scariest things (for me) about sheriff's auction are buying a second mortgage (if there is a 100k home and the mortgage that was defaulted was 10k...  its probably a second) and buying the wrong parcel (1 address can have 2 parcels..  be careful..).  Both can be avoided with good research - I personally think it should be done back at the office with help of someone not dealing with the stress of auction day.  

 I can't really picture trusting a title company to get this done that fast and that accurate.  They wouldn't be insuring anything so it would make me really nervous. 

For me auction is a tool to use when you are looking to acquire at least 20 or 30 properties a year. If you are looking to do a couple a year I would source deals through wholesalers, direct mail and MLS... that way you can do as much research as you want and close through title.

Whats the starting bid?

@David Rollings

Absolutely.  Just let us know what we can do!