All Forum Posts by: Joseph Schweizer

Hi @Pinank Parikh!

Happy to share my experience! So far the deal is as expected, and I am very happy with the returns! Also, nice to see another investor on BP from the Philadelphia area!

Hi @Cj Powderhorn!

I invested with Zach and his team this past October. It was in Kansas City, MO. I wrote a post about it (see below) and would be happy to share more about my experience if you have any specific questions for me! I am currently saving capital and I plan to make another investment with Zach and his team in the 4th quarter of this year!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Benjamin Krasne!

I have not done it myself, but many people have had success "driving for dollars." They drive around in areas they are looking to invest, look for distressed, possibly vacant properties, look up the owner and see if they are interested in selling. 

Best Wishes!

@Kenzie McIlvoy

I would run all your numbers on the property so you have a good understanding of what rent, expenses, etc will look like. If rent can cover all of your expenses, with or without any net cash flow, and you are willing to hold on to the property, then I would make a plan for how long you want to hold in hopes of rent increases and appreciation. 

I would really try to understand your market as well. Maybe try to find other areas that went through a similar transformation that your area is going through now and see what kind of effects it had in terms of appreciation. 

Hi @Caleb Goettl!

First, turnkey real estate investing is legit. You would need to do the proper due diligence on the turnkey provider and the property to make sure that specific provider is a legitimate turnkey provider and does quality work. 

Is turnkey worth it? This depends on your real estate investing goals. For myself, I was looking to start real estate investing while minimizing some of the time and risk involved with rehabbing homes. I was also looking to invest out of state so I was looking for a solid team to work with. These are some of the reasons I felt like turnkey matched my goals. 

I would be happy to share more about my experience buying my first turnkey property this past October if you are interested in hearing more.

Best Wishes!

@Kenzie McIlvoy

I would consider you overall goals with real estate. For me, I am looking for cash flow. I am in the same situation with my primary residence. I bought it before I knew anything about RE investing and I do not think rent will be worth holding on to it. I am going to be evaluating my options more in a few years when we decide to move. 

I would look at your overall real estate goals and see if holding on to your primary makes sense for those goals. 

Hi @Walter Ellis!

I made my first real estate investment in 2020. It was an out of state, turnkey property! I shared a post about it and would be happy to answer any questions you have about my experience!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Kenzie McIlvoy!

Did you run the numbers to see if the property will cash flow after refinancing? Is cash flow something you are interested in?

Hi @Miles Yang!

I have no experience with CA myself, but from reading forums I think I can shed some light on the situation.

1.) You will most likely not find cash flow in LA. House hacking might be away for you to decrease your living expense allowing you to save more money each month for investments. 

2.) I have seen many people recommend investing outside the city. This seems like it might be a good option for you since a big concern for you is your proximity to the property.@Tyler Hungerford seems like he could shed some more light on the types of opportunities that are available.

3.) I made my first investment this past October. It was out of state for me. Most important thing when investing is finding a great team of people. This goes for in state and out of state investing. I decided going the turnkey route was a good option for me, especially being out of state. I would be happy to discuss my experience if this might be an option you won't to consider. 

Hopefully this helps!

Best Wishes!

Hi @Austin Shade!

Many people have responded and provided a lot of great information with regard to turnkey and RE investing in general. I won't add anything more along those lines. However, I purchased my first RE investment this past October 2020. It was a turnkey property in Kansas City and I worked with Zach and his team to obtain this property (see linked post). I chose turnkey for my first investment because I work full-time outside of real estate, I have no construction/rehab background, I wanted to invest out of state because of the price point (among other reasons), and I wanted to minimize my time and risk. If you have any specific questions for me regarding my experience, I would be happy to share more.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!