The Waller Group is not only a full service brokerage but offers turn key services for residential property investors. Our services include the following:
Residential Investor Business Platform available to Investors who purchase and execute a management agreement with 5 or more properties from the Waller Group.
Logan Waller provides a consultation with our investors to review a business plan to achieve the investors long term goals. This includes:
1. Long Term goals and strategic plan. Logan and the investor complete a phone interview to adjust and review the investor’s long term goals, property characteristics, management theory, financial capacity, and scope of services. Proof of funds or documentation to support financial capacity is required to move forward to the acquisition strategy.
2. Acquisition Strategy and associate placement. Logan reviews your monthly acquisition expectations with sample properties to indicate the availability, time, and expectations between the investor and the Waller Group sales associate.
3. Virtual introduction or personal introduction with the Waller Group Associate and investor including the investor’s criteria is completed within a scope of services and a buyer representation agreement is executed between the Waller Group and the Investor.
4. Business Plan is followed by the Waller Group and investor. Logan Waller reviews with investor on quarterly basis to ensure expectations are met between the Associate, Property management division, and marketing team.
Waller Group Turn Key Services Include
1. Seamless Acquisition and Property placement that does not require a time commitment or due diligence coordination for the investor. The acquisition and property placement services are completed AT NO CHARGE to the investor. A nominal $500 transaction fee is charged for the first purchase at closing.
a. Property Sourcing eliminates investor tiresome property searches
b. ROI analysis with repair estimates eliminates investors obtaining repair bids and viewing properties
c. BPO (Broker Price Opinion) including as is and ARV, After Repaired Value for streamlined decision analysis is submitted to investor with investment summary for each property after purchase contract is executed to streamline investor decision analysis
i. BPO includes: pricing trend for neighborhood, demographic information, local economic data, as is value, repaired value, repair estimates, rental analysis, highest and best use analysis.
d. Investor is required to sign purchase documents to execute contract and wire earnest money to title company
e. Waller Group coordinates due diligence on the investor’s behalf and Waller Group vendor coordinator sends scope of estimated repairs for contractor to bid and provide timeline. If any variances arise from the BPO repair estimates then investor is consulted before repairs are authorized.
f. Investor executes closing documents, notarizes, overnights to title company and wires funds to close transaction.
2. Seamless Lease up and Vendor Coordination for Make ready. These services range from $500 to $1,500, depending on the scope of repairs coordinated and managed. $1,000 is placed in reserve account for utility coordination and payment
a. Utilities are initiated by Waller Group, paid by Waller Group and billed back to investor monthly or quarterly.
b. Property insurance is authorized by the investor placed on the property by Waller Group on the investor’s behalf.
c. Waller Group repair coordinator authorizes contractors to complete scope of recommended work. Work is completed within pre-designated timelines, QC is completed by the Waller Group. Upon scheduling of repairs marketing team pre-markets property to Waller Group Property Management and tenant base.
d. Signs, lockbox is placed, property is cross marketed with other managed homes. Home is offered simultaneously for sale or for rent to achieve highest return for investor. Home is cross marketed to Waller Group credit repair database, Waller Group sales team, AND First Time home buyer database. If home is sold through these methods before listed in the mls sales commission is reduced.
3. Waller Group Marketing Services Sales commissions range from 4.5%-7%, Listing Lease Marketing services are 1 month’s rent
a. Upon completion of repairs if property is not leased or contracted Waller Group marketing team lists property. Property is scheduled for photography when final clean is scheduled. Listing detail is completed by associate, syndicated to multiple websites, listed on mls for sale and for lease.
b. Waller Group Marketing Plan is executed by sales associate. (inquire within for sample marketing plans)
c. Lease application screening includes, background check, credit report, rental history report, rental history verification, work and income verification.
d. Lease applicants are screened by management division, purchase offers are qualified and reviewed by investor.
e. Upon approval of qualified rental applicant or acceptable purchaser offer contract is executed or referred to Waller Group Property Management
4. Waller Group Property Management fees vary from 5%-10% depending on monthly management revenue and number of properties for landlord managed by Waller Group
a. Property Management agreement is executed by Waller Group and investor. Waller Group is pre-authorized for nominal repair authorizations, rent collection, maintenance service coordination.
b. Taxing authority is contacted and tax statements are mailed to the Waller Group to provide seamless coordination and monitoring of tax assessment and market value. (County Tax Assessment Protest services also provided by Waller Group)
c. Lease between tenant and landlord is coordinated and executed by all parties
d. Rental move-in form is completed by tenant
e. Deposit and first month’s rent is collected by tenant
f. Utilities are transferred by Waller Group and final billing is requested
g. Yard maintenance Is discontinued by Waller Group contractors
h. Locks changes and rekey is coordinated by Waller Group and completed before tenant move-in
i. Ongoing monthly recurring services
i. Rental proceeds are direct drafted to landlord’s account
ii. Third party mortgage information is received from landlord and payments are drafted to mortgage company monthly.
iii. Maintenance repairs are documents, photographed and e-mailed to landlord with monthly billing statement
iv. 24 hour repair hotline to ensure property preservation items and emergency repairs are coordinated without hefty upcharges and are timely attended to without a hassle to the landlord.
v. Quarterly property inspections are documented with photos and sent to landlord to ensure proper property maintenance and tenant monitoring
vi. Annual tax protest services. No up front charge to the landlord. Only charge if taxes are reduced. Fee is ½ the reduction of the annual tax.
j. Eviction and collection coordination is completed if tenant falls behind on rent. Hourly rates apply for court ordered representation and or coordination.
No comments:
Post a Comment