Working with Evernest: What to Expect
Step 1: Connecting with Evernest
- Get connected with agents in your market(s) of interest.
- Schedule an introductory call, where you will review investment goals, strategy, capital available, timeline, etc.
Step 2: Kicking off the Process
- Receive and sign the buyer’s agency agreement, which gives Evernest the authority to make offers on your behalf. Don’t worry, we won’t make any offers without your approval!
- Keep an eye out for helpful resources, including blogs, podcasts, and email newsletters from Evernest.
Step 3: Finding the Right Property
- Receive deals that fit your buy box from your agent.
- Connect with your agent to provide feedback and ask questions.
- Begin making offers.
- Get an offer accepted and get your first property under contract! 🎉
Step 4: Getting Your First Property Under Contract
- A home inspection is scheduled, your agent kicks off the deal with the title company, and your lender begins processing and underwriting the loan.
Step 5: Navigating the Inspection and Diligence Process
- Inspection is completed by a licensed home inspector. If applicable, a rehab scope of work (SOW) with complimentary pricing will be provided.
- Review the home inspection report, rehab estimate, and, if applicable, any rental and after repair value (ARV) comps.
- You, the investor, make the final decision on moving forward with the property.
Step 6: Introduction to Evernest Property Management
- Get connected with an Evernest Business Development Manager in your market(s) of choice to discuss Property Management options.
- Sign off on the Evernest management agreement.
Step 7: Navigating the Closing Process
- Schedule a virtual meeting with the title company and mobile notary.
- Review closing documents and wire funds on closing day.
- Complete the closing process with property management already in place! 🎉
Step 8: Owner Onboarding with Evernest Property Management
- Meet your Property Manager, who will be your primary point of contact.
- If applicable, Evernest will begin fixing the property up within one week of closing.
- Review the provided Rehab Completion Photos.
- Check out your property’s live listing, complete with marketing photos courtesy of Evernest! 🎉
- Sit back and relax while Evernest handles showings, processing applications, and finding the best resident for your investment property.
Step 9: Tracking the Leasing Process
- Start your stopwatch! Evernest will lease your property within 21 days or your first two months of property management are free.
- Review weekly email updates with leasing stats.
- Watch your inbox for an email when the property is successfully leased. Key details (rate, lease start date, etc.) will be included.
- Resident moves in and begins paying rent! 🎉
- Evernest wires you rent.
Step 10: Moving Forward with Evernest
- Walk through accounting with your Property Manager. Clarify any questions or concerns.
- Reach out to your Property Manager with any resident or maintenance issues.
- Start the entire process over again to build your portfolio! 🎉