📈 Market Snapshot

🏷️ Properties for sale

• Deal #1 (Price drop!) $250k Triplex in Reeb Hosack, Columbus, OH | details here

• Deal #2 $299k 8BR8BA in Tiffin, Ohio | photos here

• Deal #3 $140k 3BR1.5BA wholesale deal in Columbus, Ohio | photos here

• Deal #4 $65k 2BR2BA in Cleveland, Ohio | details here

In partnership with RYSE

Missed out on Ring and Nest? Don’t let RYSE slip away!

Ring 一 Acquired by Amazon for $1.2B

Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to dominate this burgeoning industry.

Secure your stake before the offer closes.

🏚️ Deep dive

Self-managing your properties is a huge mistake.

It’s tempting - I know!

Why pay a property manager 8-10% each month just to collect a check and call a plumber when something goes wrong?

First, if you ever have an eviction, you REALLY want a PM on your side.

1. There are lots of tactics to delay court hearings and traps that re-start the eviction process tenants can pull

2. You want someone neutral communicating with the tenant

Second, if you're serious about acquiring real estate….

… Your time is WAY better spent hunting for deals than hunting for plumbing parts.

People who spend all their time working in their portfolio instead of on their portfolio never scale.

You need to be focused on growth.

So how do you find a great PM?

If you’re already looking in a particular area or closing on property, look at rental postings in that area.

Listing photos are usually watermarked with the PM’s company.

Now you have 2-3 companies you’re 100% sure know your area.

Your realtor should also give you 1-2 recs.

Now you have 5 folks to talk to.

Here are a few critical questions you want to ask:

1. Which neighborhoods/parts of town is most of your portfolio?

2. How many units do you manage (if you’re a beginner, you won’t be important to someone managing 1000+ units)

3. Do you have a maintenance team in-house or a network of contractors?

4. How long does it usually take to get a new lease signed in this area if you’re marketing a move-in-ready unit?

5. Do you guys do turns? If so, what is the turn-around time for a turn that’s typically wear-and-tear (basic paint + floors, plus a deep clean)

You also want to chat with owners.

But bad property managers aren’t dumb - they’re going to send you to their happiest customers.

So instead, you’re going to take that same list of apartments you used to find the PMs and ask to speak to THOSE owners.

No owner is more honest than one in the middle of leasing a property.

Ask owners these questions:

1. How many properties does XYZ PM manage for you?

2. How often do you have a vacancy + how long does it take to fill them?

3. Are the tenants your PM brings you renewing their leases?

4. Have you ever had an eviction and, if so, how’d your PM handle it?

5. How fast are maintenance requests handled?

6. How long does your PM take to respond to an email/text/call?

7. No one is perfect…. how could your PM be better?

The phrasing of #7 is important to make the owner not feel like they’re throwing their PM under the bus if something isn’t great.

The TLDR: Use a PM - buy back your time so you can focus on scaling.

📊 Chart of the Week

My takeaway: When you buy matters as much as what you buy.

Real estate has Black Friday deals from October through January every single year.

🐤 Real Estate Rizz

#1

Amazing thinking is often quite simple - that’s the beauty of amazing thinkers. Moses just dropped a masterclass on how housing policy impacts prices and he nails it all in under 300 words.

#2

I was at a bar on Friday and a guy talked to me about how he and his wife were waiting for prices to get more affordable before buying their first house.

It sucks, but it was easier to nod along rather than mention the data.

Affordable housing was an early 2000’s luxury.

🔥 Want everything you need to buy 1-5 units this year?

Check out the Duplexx Blueprint and get all of these goodies:

Note: If you’ve joined in the past 2 weeks, you’ll automatically be taken to a special page to receive 80% off. 

• Cash-on-cash returns calculator

• Guide with 75+ items for your next rehab

• PM/Contractor interview guide

• 30-minute mini-course on finding deals