All Forum Posts by: Ryan Mullin

Isn't roofstock just a website?   

Memphis Invest is probably the oldest TK company with the best reputation.  There are quite a few others that have popped up and figured out how to buy, sell and manage with good returns and few headaches.  Definitely not easy but it can be done.  

If I were you I would be looking for companies that do management in house, rather than the marketers that sell a property and pass it along to another company to manage.  just my 2 cents.  

As far as either "loving or hating " the TK model...  I think it simply comes down to who is able to execute the model vs those who put profit way before execution ( Morris invest / Oceanpointe ).  

How cool!   I am an artist as well..   and got into this whole thing by house hacking in the 'up and coming' arts district in Indy..  that was 15 years ago.  Now its the most popular area in Indy, values have tripled at least and my wife and I have 240+ units under management around the area.  Find that area in SLC and make your niche!  Ive been there numerous times and loved it.   Best of luck!   

We dont have enough information...   is this a 1200 unit or 600 unit?  700 credit score tenants or 540?  

Here is what we like to do...   AFTER a tenants completes a 1 year lease and proves that they pay on time and aren't a total headache we like to offer a $25 a month discount if they re-sign for an additional 2 year lease.  Rent stays the same for another 1year lease and we increase by 25 if they opt for a month to month...    Its been an excellent tool to help retain tenants and keep vacancy low.  

Im surprised to hear all the response of landlords not willing to negotiate...   Im always willing to hear out an offer.  If a 700 credit score tenant wants to live in the hood for a little discount I'm open to see the application and hear what they have to say.  Vacancy is always the enemy.  I say use every weapon available to kill vacancy.  

If you have full time jobs that you plan on keeping, wholesaling would be hard to do..  Very time consuming.  My idea would be to buy some multifamily, self manage... but hire an employee who covers majority of the work load.   learn the ins and outs of PM and then build a smaller sized management company that focuses on similar assets to the ones that you own.  Eventually you buy them all and own an empire :)   

Sending some post cards within your target market never hurts.  Building an instagram account, gain followers specific to your area.  Website / Facebook page.   Also any friends and family in the area should get a phone call to ask for referrals...   Just some ideas.  

Hello BP!  

Im excited to announce something new that I am doing full time and full blast.  Im searching for deals in the Indy market as I always do, but now I'm posting all my potential deals on to one platform.  A paid platform.  For a small monthly fee you can check out all the deals that I analyze.  Need someone to drive deals for you and give a non-biased opinion on rehab, rental rate, etc.. ?  I can help.  Want to move forward on putting in a purchase agreement?  We can do that...    I personally wont be representing clients but I will be doing the due diligence on the deals and then matching you up with an agent who has the time to write the offer and represent you though the inspection, appraisal, closing, etc.  This is going to streamline acquisitions for our Investors and allow me to do what Im good at with confidence that no time will be wasted.  

This will be extremely valuable for: 

• New wholesalers and agents learning the investment market in Indy
• Out of State investors who need boots on the ground for acquisitions
• Local investors who don't have the time or energy to search for deals non stop
• Investors who already have an agent but what a non-biased 3rd party opinion 

This is a new model and it will evolve and change as needed.  Please be patient while we work out the kinks.  

Here it is:   patreon.com/fshouses 

@Ross Denman is highly recommended.  

A few others to talk to:  Derek Gendig with Indypm.com, Harvey Levin, with Harvey management, Sam Barrons with Barron Property services, and Jeff Ader with Dorfman.    To name a few..  and there are plenty more here in town.  

Strongly strongly prefer to be north of the tracks or east of the tracks. OR south of raymond.  This is very close to a lot of renovation / gentrification, but not in that particular section.  Everything that Lee said definitely would apply here.  

Obviously its way better to just have them separated..  If its cost effective of course.  Ive had a number of situations where (I was told at least) that we would have to run a new water service line from the street to the house, so depending on how far of a dig, it was going to be like 3 - 5k.    ?  have you had that before or can one line feed into 2 meters?  @Matt P.     I have a duplex right now where one side is vacant and if I can get a new meter put in for a few hundred bucks that would be sweeeeet.  @Pat L.

60 bucks.. ?  80 maybe..   I really don't know.   Its never been a significant amount.