All Forum Posts by: Ankith Chandra

@Tyisha G.

I am in the the same boat as you. 

For me, some questions from Elizabeth cole's blog serves as a good reference before considering a TK company. 

https://www.biggerpockets.com/renewsblog/2015/10/0...

Hope this helps. 

Ankith 

Hello BP members.

We have narrowed down 2 properties for our primary residence. I would really appreciate your inputs on the options we have selected.

Home 1

Built: 2000

3 Bed, 2 bath, 1 study and 1 media room.

Area : 2262 Sq. Ft.

All 3 schools are highly rated.

Price: $255,000

Comments: Sold by first owner as they are moving to a bigger home, corner lot, established neighborhood, walkable distance to a golf course, parks. Health club. No granite counter tops.

Home 2

Built: 2015 (Will be complete Jan 2016)

4 bed, 3 bath. Area: 2248 Sq. Ft.

Apart from Elementary school, all others are highly rated

Price: $290,000 (Original listing: $332,000)

Comments: Latest energy efficiency features. Granite counter tops, Stove, Microvave, oven included, This home is about 2 miles away from Home 1.

The community is still being constructed and is expected to be complete by May 2016, so there is uncertainty about the neighborhood.

HOA fees, Amenities are same for both homes.

Our priorities are neighborhood, schools and price. With these priorities, Home 1 seems to be a great option. However, we are getting a good deal for Home 2 at its price and a will probably see good appreciation if the neighborhood improves. Will this be worth the risk?

Which option would you go with? Am I missing on any other key deciding factors?

Thank you for your time.

Ankith

@Kim Smith and @Phil Earley Thank you for your inputs. Certainly good approach for a rental investment. 

Currently, my search is on for a house where we could live on a long term basis. 

Ankith. 

Thank you all for your response. 

@Jack Butala:Read both your blogs. Great stuff! 

Since I am looking at SFH, my intension is to find one in my budget and live there for an indefinite period. In the meantime I will continue to look for other investment opportunities.

Ankith. 

@Tristan S. S  True, I am considering all other options for a primary residence. 

Listened to Podcast # 152 about Rental properties and have decided not to pursue expensive condos. Wife and I have decided to look for SFH away from downtown.

Considering a part of the BRRRR strategy with some modifications. Anyone investors in Houston who have Bought, Rehabbed and live their upgraded units?

Steve Vaughan : Thank you for your input. I am sure there will be areas in Houston generating 1% rent. However, my wife and I want to live close to her work place and since this is a good neighborhood, the prices are high. Nicole Garner : Thank you for you input. I will send you a PM. Another option I am considering is to continue renting and purchase a Turnkey property to start with. Anyone here with a similar start?

Greetings, BP members!

First of all, I would like to thank this community for the motivation it has provided towards setting and working towards my goals. 

I am new to Real Estate and after reviewing my goals, ability, location, freedom and time I see myself as a Buy and Hold investor. So the first step I want to take is to move out of a rental apartment and buy a house which can be rented out later.

Our priorities:

1. Location: Texas Medical Center neighbourhood

2. Price: Under $250,000

3. Size: 2bed, 2 or 1 bath

With the above priorities we have started looking at some condos/townhouse in a good neighbourhood. A 2 bed/2 bath condo starts from about $250,000 and currently yields a rent of $1,700. These condos also come with a HOA fees of $300+ per month

Our plan is to buy and live in it for a year, rent it after a year and buy a bigger house later.

Would this be a good start? 

Thank you.

Ankith. 

@Charles Nguyen

Thank you so much for organizing the meet. This was my first RE meeting. 

It was a great learning experience for a newbie like me and I am looking forward to attending future meetings.

- Ankith

Thank you all for your responses. As @Alex Craig mentioned, I will be looking into properties lesser than $100K and also have a reserves for 6 months. 

So Turnkey investments are great for cash flow. Does anyone calculate the payback period for your initial investment?

Hello all.

I am new to real estate investing and have been considering a turnkey investment. I have a full-time job which requires me to put in minimum of 50 hours a week. I really like my job but would also like to have another source of income. 

I contacted one of the TK investment companies this week and I was told that a  good initial investment would be about $30,000 for a $110-$120 property. 

Currently, I do not have this capital for investment. Is there a specific percentage you need to have to invest in TK? 

Thank you.

Ankith.