All Forum Posts by: Joseph Schweizer

Hi @Zafrul Syed!

I have not participated in any myself, but it sounds like syndications require work upfront to do your due diligence, but are passive after that point. 

Turnkey properties are similar in that you do the due diligence up front, spend time during the purchasing process and then after that you just need to check in with the PM occasionally to make sure everything is going as expected. 

Sounds like these options might be something you want to investigate/research.

Wishing you the best!

Hi @Jonathan Shnoravorian!!

I recently closed on a turnkey property in Kansas City, MO in October. The link below describes my experience.

I would be happy to discuss more or answer any questions you might have.

Best Wishes and Happy New Year!

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

Hi @Austin Wise!!

I closed on my first rental investment this past October. It was an OOS turnkey deal. Might not be exactly what you are looking for, but thought I would share anyway. The post below describes my experience.

I would be happy to discuss more if you are interested or if you had any questions.

Best Wishes and Happy New Year!

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

@Chase Maglangit

I believe I made too quick of a decision and probably could have waited to set up asset protection, but I think in the long run it will work out well.

I did set up an LLC for my property. I plan to own a few properties under this LLC. I also set up a trust, but that was more something I wanted to do personally for a while now and is not necessarily related to my investment.

If you are considering setting up an LLC, make sure you ask about real estate privacy trusts, registered agents, tax implications of different states and all fees that may be associated with these items.

Hi @Chase Maglangit!

Disclaimer: Do not take any of this as legal advice. Consult RE attorneys and CPAs.

I was in a similar situation. There is no one size fits all answer for everyone. Setting up a legal/business structure depends on the individual. High income earners with large net worths and other businesses would probably want to set up an asset protection structure. It also depends on your level of risk tolerance. 

As I grow my portfolio, asset protection will definitely be a concern for me. I am working on understanding business structures and how to best structure them as I continue my investing.

@Brian Hosier

Thank you for the mention!

@Matthew M.

I made a post about my first investment in Kansas City working with Zach and his team at RTR. I would be happy to share more info or to answer any questions you may have.

Best wishes!

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

@Dalton Arnhart

No problem! I hope to see your success story when you purchase your first property!

Hi @Doris Jin Huang!!

I recently worked with Zach and his team at RTR. I closed on my first investment property in October (see post below). For the property I purchased, I can say that the class of neighborhood was accurate. Obviously, as was previously mentioned, ratings are subjective, but for me I thought the rating was fair.

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

Best Wishes!!

Hi @Dalton Arnhart!!

I have no experience with RWN so Unfortunately I can not speak on them. However, I recently started my real estate investing with a property in Kansas City, MO. I closed this past October. I thought I would share my post about my first rental.

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

Best Wishes and Happy New Year!!

Hi @Victor J Delarosa!

As many have stated above, it all depends on your goals and the strategies you are looking to use. For me, I was looking for some cash flow and a lower price point to get started. I made my first investment (closed in October) in Kansas City, MO because it fits my goals at this time.