All Forum Posts by: David D'Ambrosio

Turnkey properties arent going to be homes you buy below market to get built in equity.  They are generally for people who want to invest for cash flow but dont have the time, skill set or location to buy crappy houses and make them nice.  Dont be lured in to lower priced houses wherever you are looking, they typically look great on paper but the tenants actually have to pay rent and not destroy the house which is dicey.  Thats why they look so great on paper.  I would say its better to buy one house at 120,000 in a nicer area with a solid tenant than two 60,000 houses in a C area.  Less aggravation and your more likely to get the return you are expecting.  Especially when you are investing at a distance

I have 2 houses with PARC and 2 more under contract and have been thoroughly impressed with their group 

@huy n.  I would have held it unless you needed the money for something and if you needed money to buy another rental, you should have used a 1031 exchange.  You're gonna be taxed unnecessarily

IMHO

Shawn, as Im sure you are aware there are issues with having mortgages in an LLC. Ive looked at the pros and cons of these and for me I believe having solid insurance protections trumps the due on sale clause issues. For that matter it doesn't make sense to have an umbrella policy if you have an LLC

I have an umbrella policy with Geico and they are telling me that i can't have more than 4 rental properties under the umbrella or I'm at risk for nonrenewal.  Anyone have some advice about getting an umbrella policy with another company that doesn't have these restrictions?  I live in NJ, but have 4 rentals in florida and 2, soon to be 4 in Indiana

Im in the process of closing on 4 properties with them, so my experience is limited to meeting them negotiating and closing.  They have been top notch so far.  Honest and open communication.  After one of my home inspections there were some minor things mentioned by the inspector that I didn't even request to be fixed, but they went ahead and fixed anyway.  From the others I have spoken to that have interacted with them, they have a solid reputation.  I would definitely meet with them if you are looking in the area

I am also interested.  Is there a website or email list I can sign up for?

@Mike D'Arrigo

I would love to hear @Mike D'Arrigo comment on this topic as I have the same question. He knows the market well and is a big time BP contributor 

@Bert Nethercot  I just bought 4 properties with them so I can't give feedback about the management yet, but I met with Giovanni and he seems like a trustworthy person