All Forum Posts by: Jonathan Godes

@Scott Dillard

Nice numbers Graham. Where is this property located? Certainly not the RF Valley?

Roaring Fork Valley. Glenwood Springs, Carbondale, etc. 15 minutes to Sunlight and less than an hour to Vail, Beaver Creek, and the Aspen/Snowmass mountains. 

If you are not going to property manager it yourself, why not turnkey? You can get some great returns outside of Colorado.

Hi Eric-

I looked at doing this initially when I started investing and found that it might have saved me quite a bit of headache for my later RE investing. A nice way to dip my toe into RE

That being said, I would be very wary of some (not all) turnkey providers. Usually they are trying to sell you a lipstick job reno at a 10% higher premium than the market because it is "easy" for someone like you who is remote to have management and a tenant in place. The number still make sense, but it isn't really a deal (or even retail).

Also do your due-diligence. Look at the PERSON who is selling you the product and find out all of their past LLC's. Do they have 3 or more LLC's in the past? Why? Have they ever declared bankruptcy? If so, they have left investors on the hook before and they will again. The two times I have really gotten taken advantage of it was with people who had declared bankruptcy. There must be something about going through the process that seems to tell them that it is ok to leave creditors on the hook because the world didn't end. Even if they express regret, ask them if they ended up making those creditors whole after they emerged from bankruptcy.

Good luck and drop me a line if you would like to chat.

 This was a great article Walter! Thank you, this is a help!

2% isn't totally mythical, but you have to buy very discounted and not over improve. I am finding 1.5% rules all day long in class B neighborhoods, but if you want to push into the upper 1% territory, you will mostly likely be B- or C+ in my experience. 

I have had good luck in North Carolina finding deals and passing them off to other investors - almost always in the 1.6-1.8% area. You will mostly likely be all in for less than $50k, but that doesn't mean a class D dump in a lot of the country. 

I have a boot-on-the-ground partner who I have done a number of fix and flip deals with over the last couple of years. We are ready to move beyond the "one and done" model and incorporate an LLC to begin scaling our operations. Given that I live 2 time zones away, what business systems/project management application is most appropriate?
Also, from my research it seems like half the battle is setting up the dashboard/files. So if anyone has template examples (even screenshots) to give me a boost in setting up my podio/trello dashboard, that would be very helpful. I am also open to other suggestions if Podio/Trello isn't what you are using. Thanks all!

Jeremy Tillotson

I would be very careful about investing any money with John Rogers. He is 3 months past due on payments to me and won't respond to any of my emails, calls or texts. Buyer beware with this guy. He talks a good game, but do not be fooled.