All Forum Posts by: Daniel K.

@William Espich

Mate, you’re a contractor in Austin. You’re gold. I think the number one “core 4” position that most people lack is a relationship with a good contractor. If you do an awesome job I think the world will beat a path to your door...

Hi,

Not an expert but I'll answer anyway:

Re: Q#1 - I have no idea, that's why I just buy whenever I can afford to. I figure it all comes out in the wash over 30 years anyways. Your time horizon may be different. Mine is: buy, hold until I die, basis step-up for my survivors.

Re: Q#2 - I have bought single-family homes. 

Re: Q#4 - I buy in the surrounding suburbs like RR, CP. Generally, I look for properties where a family would like to move in (the theory being tenant turn over would be less). The houses I have bought are newish.

Re: Q#3/#5 - Sorry, I haven't had any partners yet (except my wife).

I hope some of this helps.

Hi,

My experiences have been pretty good but I've been "DIY Turnkey" not going through a turnkey provider. What I mean by that:

a) buy off MLS with the help of my broker/agent + property manager

b) property manager manages for me

It's been relatively hassle-free. The property manager pretty much takes care of everything for me. I buy from overseas.

To answer your question directly: if the above counts as turnkey, then yes. I would do this again.

@Alancha Thompson, Are you a US citizen? I ask because I live in Europe and invest in the town I grew up in (Austin, tx). If you are a US citizen, it's generally not that much harder than buying locally.

@Tim Herman Thank you! Makes total sense! I started wondering about the math because of this:

https://bp-v-newproduction.s3.amazonaws.com/uploads/calculators/shared_report/report_file/1a5c67d8-01ac-4ba2-b3e2-2b38e1151144/report.pdf?X-Amz-Expires=601200&X-Amz-Date=20190806T114646Z&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAINAFXR3SDILSVHQA%2F20190806%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-SignedHeaders=host&X-Amz-Signature=2abe31fecaf64099ad04b5bf56dadb130c4e14da45c05854659c5c11a5407455

...When looking at year 30 I was confused on how the profit could be larger than the value!

Thanks!

Hi,

New biggerpockets member. I went pro because of the calculators, etc. So far everything has been great but I've been playing around with the calculators and can't get the numbers to foot. I created a "dumb" calculation with obviously fake numbers to make the mental math easier. It can be found here:

https://bp-v-newproduction.s3.amazonaws.com/uploads/calculators/shared_report/report_file/4ca075c3-8c5e-402d-9441-dad442f1fcd3/report.pdf?X-Amz-Expires=601200&X-Amz-Date=20190806T091520Z&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=AKIAINAFXR3SDILSVHQA%2F20190806%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-SignedHeaders=host&X-Amz-Signature=e199a10ec756c9daf8cea38f3fc19d9fef8c725a3037a4217e9bc42c53f7b947

I don't know how the year 2 figures are calculated. It shows a positive profit if sold of 4K.

If I assume 0 appreciation across the board, 0 financing costs, 0 cost of sale... should not the profit be:

Value - Equity Purchased - Loan Principal - Cum. Net Expenses.. i.e. -16K?

Or a simpler calculation: House Worth - Loan Principal - Sales Expense - Net Year Opex = -8K

If somebody could walk me through the math, it would help a lot! Thanks!

Daniel