All Forum Posts by: Account Closed

Outside of my W2 income, I run a small business purely on Instagram.  After a few months I noticed my Instagram income was a nice downpayment on a rental property.  

I ultimately went the turnkey route for my first property.  I'm still learning...

@Greg Scott

Thank you for your response.  

I like what you said about control.  Ultimately, RE will provide me the greatest amount of control.  

I look at my retirement accounts and think to myself, "you could have X amount of paid off properties with $X cash flow right now.  What are you thinking?" 

@James Wise 

Thank you for your response.  

@Isaac Molina III

I would be very careful withdrawing money from retirement accounts to invest in real estate.  How much will you be taxed?  What is your return?  There are so many questions.  Be careful.  

From your profile picture, it looks like you have a family. Do you have enough cash reserves if your REI doesn't work out? Consider your entire financial picture...

Keep the cash and build up more reserves.  Wait for your next opportunity.  

It's a business, so treat it like one.  

@Nathan Gesner and @Thomas S.

Thank you for your response.  My current property manager does send statements showing monthly income/expenses and their team is readily accessible.  There is definitely no babysitting to date.  

I wanted to get a sense of what everyone else is doing.  I found myself forgetting that I have a rental property.

For those of you who have turnkey real estate in other states, how often do you check in with the property management company? 

I do not want to turn this into a real estate vs. paper asset (stocks, bonds, etc) debate.  I am new to real estate investing and have the majority of my net worth in paper assets.  

For those of you who invest in paper assets (along with real estate), how do you calculate your rental properties into your overall asset allocation?  Or, do you keep things separate?  

Any advice would be greatly appreciated.  

This means nothing when you have a long-term plan.  The intelligent investor will be in both real estate and the market.