All Forum Posts by: Mark Shaffar

@Mark Senecal most turnkey investors I know are like me, buying for long term cash flow. These are rarely appreciation plays where you are trying to time the market. That being said I would want to make sure I am buying in a solid market that supports the price I'm paying in case I need to unwind the property and don't want to throw a bunch of money at it to do so.

@Account ClosedIt seems to me that the issue isn't "Does turnkey investing eliminate your risk and make for passive investing" because the due diligence needs to be done just as much for the turnkey company as the typical DIY route. It seems to me, and I think this is where Ali was heading, that if you have found a turnkey provider you trust, then acquisitions  after the first couple are much easier and more legitimately passive. This might just be my opinion but most of what I've read on BP is new folks wanting to learn more about RE investing and older more experienced folks sharing horror stories to help the new guys avoid mistakes. Nobody wants to be taken for a fool or lose money, but at the end of the day you are still taking on risk. For me, it was a huge step at first and then units 3-11 over the last several years were pretty easy because I knew who I was working with and what risks to look out for. The risks never went away but I became more comfortable with it and took steps to lower that. 

 You're welcome Ben. I haven't read all the posts in this thread but my impression of you from your podcast was that you were extremely intelligent, deep, and successful in real estate investing. Such people tend to get bored with success:)

for what it's worth, this was my first thought seeing the this thread.

http://www.mrmoneymustache.com/2012/08/16/what-it-feels-like-to-become-rich/

@Joe Martella

I'll take a crack at some of your questions

1. I'm biased but I would decide if I am looking for cash flow or appreciation- there is usually a trade off there

2. it depends, beware that multis with low price to rent rations tend to be more common in rougher neighborhoods

3. depends on how much work you want to do. If you go with a realtor make sure you find one who specializes in investments real estate

3a. I'm biased there

4. Josh and Brandon have endorsed $100/door

5. I can say that those numbers would be similar in Milwaukee but there are always exceptions

6. I agree with @Mike D'Arrigo money is cheap to borrow and why not take advantage of that? Some TK providers will offer discounts to cash buyers though

 Hi Vivian I'll punt on the upside vs downside as I too am biased but to answer this question I've seen banks offer loans as low as 15% down on investment properties like this. In Milwaukee that looks like 9k plus closing costs

@Joanne Changwelcome to BP!

@Dawn Anastasisounds like last landlord was happy to see them go:)

Hi Carl welcome to BP!

I was trying to put a meetup together for a few months last spring and had a tough time. 9 is great and I'll try to be there myself. FYI the Madison Real Estate Investing Association also meets at the Great Dane for "the meeting after the meeting" when they do their monthly meeting