All Forum Posts by: Ali Boone

Hey Marco,

Shoot me an email if you can. I'm running low on Indy inventory to show investors. Curious where you get yours... is it yours or are you hooked up with turnkey providers there?

Ali

Turnkeys do come rehabbed. Are you saying you want to do all the work for an investor but using their money? I've known of variations of that, some with flipping and some with turnkey providers. Not sure there is a name for it other than just finding an investor who wants you to do all the work for them and willing to give you their money to do so. Not sure what you're asking to help you much more than that.

Glad to see the "y'all"! I'm from Atlanta and I don't hear that word much out here in Atlanta!

Charleston is awesome from what I hear.

Hey Nick! Good for you for being disciplined to set aside that money. I wouldn't stress to much about whether you should be saving or investing right this second, as long as you are planning to invest. The best thing you can do is figure out what you want to invest in first and how much money that will take. Then you can just keep saving until that amount and then dump that money where you want it.

Read tons of books, study everything you can find, and go with what feels right. I can help you with rental properties if you go that route, but do lots of studying first so you know what you really want to do!

Yay Fort Lauderdale! I'm from there and certainly don't complain anytime I have to head back that direction. Happy investing.

Hey Jay! Rock on Bay Area. I'm down in LA, so I know the dilemma of where to invest. All my properties are out-of-state and I always go the turnkey route so I don't have to worry about anything. If you ever want to talk numbers or strategies, feel free to hit me up!

Always always always just make sure the numbers work. If you aren't expected to get a positive cash flow on any rental you go into, bail. I'd think that'd be the biggest concern in those areas because I think the purchase prices are pretty hefty? Just calculate your expenses accurately, throw in some for vacancies and repairs, and then see if it's positive. Cash flow is more important than the equity.

Hey Adam, not sure if it helps any but turnkeys are all I invest in. I live in LA, obviously can't invest there, and I have absolutely no desire under the sun to have to go find properties myself, make sure they are in good shape, do whatever extent of rehab, worry about tenants, etc. I've written a lot of articles on the benefits and realities of turnkeys (check out the blog section to find those) and I stand behind them 100%.

With that said, I've worked with a ton of turnkey providers across different markets and there are some that are significantly better than others. It all depends on what you are looking for and what is most important to you. I can point you in the direction of the providers I think are the best if you want, or even tell you a little more about the options in terms of my experiences with them and what I know about them. Reach out anytime!

The turnkey companies often have a preferred lender who is familiar with and works with a lot of real estate investors, that is why they are recommended. There are fewer banks/lenders out there than you think who are familiar with these types of transactions, so sometimes finding the ones who are familiar can be hard. This is why turnkeys try to help you out and point you in the direction of one. Whether you use that one or not has no effect or bearing on the turnkey company, they don't make commissions or anything like that by you using that one. They are just trying to help you.

With that said, definitely check out the one they recommend as well as others you may know of. Shop for the best rates, but don't give up customer service for a couple quarter of % points either. Another reason they recommend someone...they try to make sure you get hooked up with someone who will actually communicate easily with you and get the job done. Part of the turnkey value-add...you get connected to good resources.

Shop around for sure, but anytime you are talking to a potential lender, MAKE SURE they work with investors often. Otherwise you'll be in a heap of frustration. No BoA or Wells Fargos or anyone.

Have you thought about just hiring a property manager so you don't have to take any of the calls or do any work on the property? That's what I always do on mine.