All Forum Posts by: Jackie T.

Looking to find/connect with wholesalers in The Triangle for SFH in Raleigh, Durham, Cary, Apex, Holly Springs, Chapel Hill, Garner.

@Dawn Brenengen I would be interested in joining if you guys end up making it an online meetup.

@Xiangnan Shi

Hi Xiangnan Shi - I ended up purchasing two properties near Tampa, Florida instead. While I don’t think these properties will appreciate as much as TX, I did get positive cash flow.

Cathy Li I’m not a fan of condos. You essentially end up paying for the extra expenses through the HOA anyways so you are not really minimizing expenses. I have a townhouse and the HOA keeps increasing annually which takes away from my overall profits. I find that having a really good property management company is the most important factor for people like you and I. So do make sure when you interview the turnkey operator, that you speak to the PM side too. Of course, you can always go with a different PM after purchase. I haven’t checked out roofstock yet. Will look into them. To be honest, I haven’t found a big issue with any of the Turnkey Operators I’ve spoken with in Texas. I just run my own numbers rather than accept what is shared and I haven’t found anything where the numbers work for me. Ultimately, the rent vs purchase price ratio just doesn’t work in these markets unless you get something below market price. Most of what is offered by the turnkey operators are at market price. So nothing against the operators but the math just doesn’t work for me. I’m trying to network and meet others who might have something off market that will work for me. I’m patient and will look at other markets if needed.

Cathy - I am actually in a very similar situation to you. My Husband and I are Americans but living overseas in Asia. We have been looking at Texas (both Houston metro and Dallas/Ft Worth metro) the past 3-4 months. My focus has been SFH, 3bd/2ba in B/B- neighborhoods. I have been connected to 3 different turnkey Operators in Texas but have not have been able to find any properties that even break even, let alone cash flow. The current rental rates have not kept up with purchase price (which have appreciated quite a bit the past 5 years). When the turnkey Operators provide pro formas with 1-2% for vacancy and 1-2% for maintenance...it will show positive cash flow. But I’m much more conservative and just don’t find those numbers reasonable at all. I even started working with a Real Estate agent in hopes she might be able to find me something that at least broke even and she hasn’t been able to yet. If you or anyone reading this has had luck and can share how they have been able to purchase in these two markets, I’d love some insights.