All Forum Posts by: Sean Williams

Love FollowUp Boss, by far the best for a Realtor. I use it to also keep track of other investors/properties with the tagging and reminder feature. There are TONS of integrations so if you are savvy with Zapier I am sure you could utilize it for whatever investment purposes you need.

Brick Patio Home complex situated at the end of a quiet Cul-De-Sac in an established residential neighborhood. Seller currently owns 4 separately deeded condos and is selling entire complex - could potentially be reclassified as a multi-family quadplex. Each unit has approx. 2,500+/- livable sqft, 3 Beds, 3 Full Baths, 2 car garage and two Master Bedroom options (1st or 2nd floor). There is some variation between units, but overall property is in great shape (built in 1999) and each unit has its own laundry room.

Would be ideal for investor seeking cash flow, a 1031 Tax Exchange -OR- possibly someone willing to invest in upgrades and sell each unit individually for a profit.

Currently 3 of the units are rented, the 4th just had a vacancy within the past week but is already receiving calls from prospective tenants. These have always been easily rented, however are likely below market rent ($1,200 +/-) and are on short-term leases. Sellers prefer not to be landlords. Potential gross profits of $4,800/month ($57,600/year) if managed properly.

@Manmath D. I am a real estate broker that is actually to about list a 4-plex of patio homes in Shelbyville that could be utilized as a 4-plex multi unit. Not sure if that location is too far out, but it's a nice established neighborhood and they're in great shape.

My client will be listing just about $600,000 and the monthly gross rents is approximately $4,800/month or about $57,000/year. Let me know if you might have any interest.

@Brad Noe I have done it both ways depending on how I, the wholesaler, feel about the situation with my seller and my end buyer. I do not hide the fact the to seller that I work for other investors and may not keep the property for myself at the end of the day (I don't want any surprises). There are pros and cons to both sides...

Double-closing adds protection because it basically prevents the seller from finding out how much I am making on the deal. When I do a double-closing I use the funds from my end buyer (party C) to pay the seller (party A) and I (party B) keep the funds as profit...I have done this a handful of times here in KY without any issues. The only issue is you lose some profit because you are paying for 2 closings fees and I ALWAYS purchase owner's title insurance since I technically owned the property for 5 minutes +/-.

Assignments are more preferable because I don't have 2 closing fees and I never technically take title to the property. Only issue is the seller will see the end price I am selling the property for with my assignment fee included ($3-10k) and may become upset depending on the situation. Why they are still legally obligated to close, I suppose they could still walk...hopefully they are truly motivated enough that it won't matter, and the whole idea is that I am helping them walk away from a bad situation when it's all said and done.

Hope this helps but feel free to reach out if you have any other thoughts. I myself and some of my investor clients are ready for some deals for feel free to share with us as we'd love to all work together :)Thanks!

@David D'Errico thanks for the intro, hope all is well!

@Jordan Lindsey fell free to reach out and contact me directly and let me know how my team and I can help with your first rental property!

Home Services Real Estate Academy HSREA.com is the best around! MLS access will be through GLAR (greater louisville association of realtors) and by paying their dues, however you will have to be affiliated with a broker in order to maintain an active license.

While I am not thrilled, I have registered my properties under the new regulation. My guy assumption would be for 2 primary reasons:

1 - streamlined process to contact properties owners when necessary

2 - identify which properties are rentals and keep a closer eye on compliance with city ordinances, including taxes for short-term rentals

As you can imagine these things go hand-in-hand. Now they can directly contact the owners when issuing a citation. I have a suspicion landlords will see a slight increase in citations since the property inspectors will know which properties to target. Also, with the rise of Airbnb, I think the city wants to make sure they get their fair share of taxes.

Just a guess, but not all is bad. (i.e.) - I've been trying to get the landlord of the property next door to my rental to cut down the 100 ft maple tree next door that is dead. A large branch finally fell on my tenants car a few weeks ago...hopefully the city inspector can get ahold of the owner a little quicker before it happens again :)

Hey guys (and gals) - I have a property that's about 1,200 sqft and has wallpaper throughout...sounds exciting right? It's your typical "old lady house". Does anyone have a contractor they would recommend around Louisville to remove wallpaper and paint this size home? Appreciate it!!

@K.C. Marsh hey KC! As someone mentioned before there is a coventional 5% down option, but if you're wanting to stick with the FHA 3.5% down option your best bet would be someone like Acopia Home Loans. I'll reach out to Zach and pass along a contact for a loan officer...you really want to make sure you have a loan officer that is familiar with the process, especially since 99% of people are not. Good luck!

Hey @Joel Cecil nice meeting you yesterday evening at KRIEA. Let me know if there's anything I can do to help along the way and of course keep me posted on any deals you might have in the pipeline.

As always, best of luck!!