All Forum Posts by: Dan Valiente

Hey @Tom Ott I understand. It doesn't seem like there's much meat left on the bone after you're purchasing a house that's already been flipped, for at or above market rate, and still have to turn around and pay for property management services. I guess the trade off being, completely passive. And how much profit you're willing to sacrifice to achieve that.

Does anyone here have experience with purchasing from a turnkey rental company?

I’m struggling to realize the value proposition especially in cash flow if you’re buying a property for market value.

More so, if investing from out of state and leveraging property management. How are you supposed to make money?

Are those doing it more interested in the equity gained and the prospect of wealth creation vs cash flow?

Are the target metrics I.e. 1% rule, minimum cash flow, around 10-12% cash on cash, different and should be expected to be lower on a turnkey? And what would be reasonable target metrics to expect?

@Trevor Aydelott So how do you use 2 loans simultaneously? Did you refinance out fo the first one, and do a that one time restoration?

@Trevor Aydelott did you pay off the first one in order to use the loan again on the 2nd one, or are you still making payments on both? I wonder if them being right next door to each other has anything to do with it.

@Trevor Aydelott Right on brother Im a grunt myself. I used the VA loan for the house I'm currently living in.How did you get to use 2 simultaneously, or is it a duplex? I've heard whispers of this bonus entitlement that we may be entitled to get which has the potential to use the loan for multiple properties.

@Julian Gonda Right on, I grew up in South City, and am in Hayward now. Although I'm mainly interested in markets outside of California.

@Brian Garlington I haven't gotten pre approved yet, I think I'm still trying to determine the market I want to invest in. How long is a pre approval good for, about 60 days right? 1 reason I have yet to obtain it is, i'm in the process of selling a property right now which I think would give me a lot more leverage. If you don't find a property in the 60 days, do you just keep going back for additional pre approvals? Are their drawbacks to doing this?

@Julian Gonda thank you! Where in the Bay Area are you, SF? What are your goals here?

@Account Closed hmm, if you have to wait 3 months anyways with a private lender and take the hit of higher rate; maybe it is best to just wait the 6 month seasoning with conventional

@Brian Garrett Thank you for those quick links to those resources! I'm loving this group!