All Forum Posts by: James V.

I would prefer not to mention the city, as I think it makes the TK company very apparent, and as I said, I have a great deal of respect for them - but the situation got me thinking.

Escrow has closed, I own this home - I came in with the additional funds.

Mayank S. my thinking was more along yours, it really boiled down to a taste in my mouth.

Larry Fried This was my first purchase with the company, I would hope they would be willing to work with me if this were to happen in the future.

Dominic Lucarelli, ultimately this is what it comes down to for me as well, the financials worked, the additional funds were not of significance.  

It just left me thinking about the situation.  Thanks for the insight all - 

I'm surprised nobody has thoughts on this.

If I'm in the wrong forum - let me know and Ill take this elsewhere.

Cheers!

Would you ever pay over appraisal price for a turnkey investment property? 

This is apparently not uncommon in the turnkey investing space.  I wont name the company I'm working with, because I do respect them, and believe they they're one of the premier operators in this niche, but my appraisal came in lower than contract price.

I understood turnkey pricing essentially equated to 'retail' pricing, if you will, and can justify retail pricing based on risk model and the passive approach, but the questions remains:

Would there be a case for OVER market pricing?  Appraisal lower than contract price.

Kansas City and Indianapolis is what I'm focusing on right now - there seems to be a reasonable trade off between cash flow, entry price and and market stability.  

I sent you a contact note on your website as well.  

Feel free to PM me if you know of any providers in those markets i should be talking to.

Cheers - James

Ali, By the way, I just came across your article "The Turnkey Investor’s Guide to Choosing a Profitable Real Estate Market".  I've now read it and a few of your other articles.  

Totally changing how I'm looking at these markets.

Keep up the good work!

Brie, thank you.  I agree and will spend some time in potential markets.  You make a great point about the mortgage as well.  A little more buying power, and no reason I can't pay it down as I choose. 

Ali, thank you for the feedback. I will definitily take you up on bouncing a thing or two off you, if you don't mind.  I put pressure on myself to get this ball rolling, but I am green and also don't want to get ahead of myself. 

- Cheers 

I'm new to the site and have been pouring through the content for the past two weeks.

My wife and I are interested in out-of-state rental investment opportunities (we live in the Southern California) and need to match the right market and team with our goals.

Our position:

• We are focused on long term buy/hold investments
• Good neighborhoods are KEY (I don't fully appreciate      the rating scales yet A, B?)
• Financials must calculate
• Prefer 20 year mortgage terms

What we (think) we need/want:

• Turn-key properties
• Favorable local market conditions and trends
• Local team of proven professionals (there seem to be      plenty of folks that are more marketer than player)
• Steady stream of rental income in 20 years

First steps: Where should we be looking – Who should we be taking to?

If we choose to buy multiple SFR's, do you diversify markets, or find a team you trust and stick with them?

Cheers - James

New to the site. Interested in rental property, possibly a flipping.