All Forum Posts by: Ames Foley

@Ken Bowen Nice job finding this opportunity. That being said, I would drive by soon if you have not already. Why are some properties listed as SFR while others are not, Was it just how you filled out the spreadsheet. What are the ages of these properties? Since I did not see any CapEx, I would also expect a % for basic repairs. I would find out what @Mackal Smith was talking about with the CapEx.  I am currently dealing with 4 of my properties having appliance problems at the same time.  You will want to check the quality because that could bite you if you are not careful.

Good Luck and keep us posted.

@Jake May I would make sure you really scrutinize the pro-forma that the Turnkey company provides.  I have seen a few where the growth model used did not follow how that market has been going as a whole.  If you feel that the numbers work then continue to review.  I agree with @Larry Fried that the Property Management company is critical to success if you are not managing yourself. Make sure you full vet the PM, meet with and most importantly feel comfortable.

If the PM has turnkey great.  They may also know of other opportunities in the area.

I also recommend starting more local.  You can learn alot even if you are not the PM.

Good luck.

@Ken Bowen Welcome to Bigger Pockets.  I would also thank you and your partner for your service.  It sounds like you have some good knowledge.  I recommend checking out the local REIs. I have heard good things about the Southside Investment Group as well as Lifeonaire though I have not had time to attended yet.

The Forums are great as well as the podcasts.  

Are you looking to manage your properties and are you looking at SF or Multi?

Good Luck! Maybe we will meet at one of the REI's soon.

Welcome to BP. I recommend starting with the online train fb that BP offers and getting connected to the closest RE group you can find. Check out the podcasts for gray information and read "The Millionaire Real Estate Investor" by Gary Keller. It gives you a great overview of the different ways to invest Good Luck

I purchased my first property last year at age 45. I am hoping to replace my W2 salary within 10 years. Start slow you will make mistakes along the way but as long you have a goal and you keep working on it. You will get there. Good luck

If you can afford it, wood lament is a better long term solution. I am starting to look at the new wood looking tile as even a longer term solution. I agree with the others. If the tenants are paying and not complaining then hold off. Get an idea of the costs for the flooring and start putting money to the side for when you do have that turnover.

Welcome to BP! This site and its members are great resources. I would also attend a local REI Meeting, there are several in St. Louis. Good luck.

Welcome and good luck! @Stan K. thanks for the link to the round table.

Welcome @Dana Hill.  This site is great for learning and networking.  I also recommend setting up alerts.  if you set aside time each day or week to dig through BP you can accelerate your learning curve,  Good Luck.

@Dean Jewett Welcome to BP!.  I am from down state but I think we have some of the same goals.  This is a great place for learning and contacts.  I recommend setting up your alerts if you have not already.  Good luck and maybe we can work together in the future.