All Forum Posts by: Tyler Fontaine

Mailing letters is good. Cold calling works. If you can build a site and have it SEO'd for your location and target demo is IDEAL. Start telling everyone you know what youre looking to buy and where.

For getting property info and owner info:

- Propstream

- Deal Machine

Tools for calling and getting info:

- Batch Leads

- Mojo Dialer

- Call Rail

In terms of finding LLC info, check your local municipalities DBR and do a database search for the LLC. Check their listed addresses, registered agents and then skip trace that info if necessary.

I wouldn't recommend this. You don't know if the contractor who's providing the SOW for you is even any good. They could low ball you just to get the job, they could be off in general, etc.

If you have an established relationship with a contractor you trust then this is a good idea and that could work.

Other than that, locking the deal up is priority number one.

Put in verbiage that makes the offer contingent on "Subject to the approval of partner". This way if your offer gets accepted you can then bring in a contractor to help you and it's more lucrative since you actually have it under contract.

Now if the numbers don't work you can get a denial from your "Partner" and get out of the deal. 

Honestly, try to get your contractor in there and talk through you options with them. I find they usually think of things we normally wouldn't and they can have better ideas at times.

If you plan on holding the building long term then it makes sense to make this as good as you can if you are going to do this work at all. 

Thinking of updating it having a window to allow light in would be ideal. 

In a perfect world I would install a short window the length of the wall near the ceiling and then add in the insert shower or tile it. However if you don't want to reframe portions of that wall and so forth I would simply get rid of the old stuff. Wall off that window, slap and insert in, LVP the floors, new paint, bring in a vent, and be done.

Do you have any challenges or issues to work through on this?

Im sure you have already considered this but it's always good to make sure that your comfortable with the cashflow at market rents. Depending on your investment strategy longterm it could be great to shoot for higher rents by getting traveling professionals or even an STR.

But the deal should make sense even if you have to settle for just market rents.

By the way, big congratulations to you and the wife on the first house hack. Love to see it!

I ran into some similar obstacles on my first flip with my business partner as well. Couldn't agree more with the fact that this is the cheapest education that you can get in comparison to the value.