Episode 79: [Rentals] Crowdfunding and Wholesaling with Rob LaRovere

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Show Notes

Rob leads property acquisitions for Holdfolio, a real estate crowdfunding company headquartered in Indianapolis. Under the name Buy To Renew, Rob leads a team focused on purchasing properties and gentrifying neighborhoods. Since relocating to Indiana in 2015, Rob and his partners have purchased over 100 properties for crowdfunding and wholesale opportunities. For fun, Rob and his wife enjoy traveling, soccer, and recently took up competing in triathlons.

His real estate investing business has done lots of different types of marketing methods. Driving for dollars, direct mail, online lead generation, etc. But Rob has also gotten into using his memo app for when he drives around, that way he keeps track of the addresses that he then puts into a spread sheet and sends off for research. Generally, he typically gets 100 addresses an hour when he does this kind of driving for dollars. That’s amazing!

Let’s settle this argument. Melissa used to look for more specific things, like broken windows and peeling paint, where Danny would look more at the lawn. So what does Rob look for when he’s driving for dollars? The typical signs of vacancy are long unkept lawns, messed up roofs, features that aren’t taken care of, and things like that. Every 6 months Rob refreshes his driving for dollars list.

The process for Rob is standard when it comes to price negotiations. Using a CCR calculation, Rob can see the taxes, rent, expenses, and things like that. Cash on Cash Return calculating has helped him determine the value of properties so that the offers made can benefit both his business and the seller.

Books

Set For Life by Scott Trench

Relentless by Tim Grover

Links

YouTube.com/FlippingJunkie

FlipPilot.com

Holdfolio.com

BuyToRenewIndianapolis.com

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