All Forum Posts by: Abdul Jabar

@Walter Roby jr - I have two cars which I have paid for and I hardly use them, especially since my kids are out for summer. Ones a 2018 Toyota CHR ( Value right now around $20K)and one is a 2017 Honda Accord ( Value around $14K)

Im keen to put them on Turo but have just 1 question around the Insurance.

I know Turo provides Insurance and the better the insurance the more Turo's cut. Which one did you go with, the top of the line where they keep 40% of all trip or which do you recommend?

Secondly, do I inform my insurance Company or get ride share insurance through them also. If I do that, I dont see how I will make any money.

Please advise whats the best way forward and if you recommend. I did read up that Turo's claim process is terrible, but would like to hear it from the Horse's mouth.

Your advise would be highly appreciated.

Many thanks

AJ

@Andre Crabb- I was reading your thread and would love to view your website. Im in Socal and looking to move and invest in RE as well. so please do share the website URL and maybe can chat later. Many thanks

Hi Sebastian. Thank you very much for the suggestions and details. It really helps understand options. Many thanks

@Lucy White and @ Vincent Taggart , thank you very much for your comments and insights. I appreciate it a lot.

@Ray Lin Thank you for your encouragement and for your candid advise. I really appreciate it. It helps me understand, guage and plot my move. Thank you all for your contributions and feedback.

@Aj Parikh:
Many thanks for your feedback on my post. ARoofstock seems appealing as it purports to be seamless, contactless and pretty much headache free. So I wanted to learn from you, is Roofstock a good option. Noticed that sometimes their valuation is high. My other concern is that what about vacancy periods ( hoping that the prop mgt company will find another tenant). And most importantly wanted to ask, should I pay all cash or should I finance. I have a primary home financed and was wondering what are tax implications or breaks ( I know rental prop you can write off a bunch)- I can buy cash upto 80k or finance a higher prop since i have down payment. kindly share any knowledge about Roofstock and any other opportunities that you can suggest. I can also forgo Roofstock and say put down 80K towards a better home in a good market, a newer home and then rent it out. Lastly, one big concern is tenants not paying rents and refusing to move. How do investors mitigate this risk. Any advise would be highly appreciated. Thank you again.
Abdul

Thank you all for all the candid and great advice. I really appreciate it all and gives me a lot of ammo to think about and revise expectations and rethink strategy.

Will continue seeking advise and hopefully will soon be able to pull the trigger on something.

@Dave G. Many thanks for taking the time and for posting a candid review. I appreciate it. Yes, I noticed that Roofstock's valuation were inflated. So that is out of question. Business too is out of question. Leaves RE as the only option.

Thank you for your candid response.

@Dave G. Haha, trust me I thought of that. Used to gamble big time in Biloxi, MS in my youth and learnt the hard way that the House always wins.

Im just trying to figure out what to do with my cash and how to invest it to be able to earn $1000-$1500 a month. I even tried crypto and I made $5K on Dogecoin...but Im thinking of something long term so I can quit my 2 jobs and work on a business or real estate investments full time, eventually.

Hello good people,

I worked hard and saved $85K cash. I wanted to know what are my best options to invest this and start earning some income. I am open to any idea that would generate a revenue stream without a lot of headaches as Im continuing to work two jobs. I have researched all over and thinking of a couple of moves and would like some expert opinions:

1) What do you think of Roofstock- my only fear is hidden costs, or tenant turning into squatters, or no tenants after a few months- how to mitigate these issues. Is Roofstock a good option.

2) Buy a home purely for investment, around a $150K home with a $1500 rental income and put down $85K cash and mortgage the rest

3) Is there any business that I can invest in which could generate $1500-$2000 after all expenses , without the need of me being there?

Please advise as any information would be highly appreciated.

Thank you

A.J