All Forum Posts by: Parius Futch

We have a few properties now but of course, we want to grow.  What is the best way to build a portfolio? So far the properties we have bought have been safe but not necessarily turkey. 

What are the advantages of turnkey?

What are the drawbacks?

Who are the most trusted turnkey providers?

What should I be looking for?

any other advice you can provide would be appreciated

@Angelo Del Monaco

How did you go about getting the cash off the cards?

@Account Closed 

Thanks for reply if like to know more I’ll send you a message shortly 

Good afternoon Bigger pockets team -

  I have been looking for software to assist in managing and tracking a  growing portfolio. We currently have two investments and we are working on closing two more deals by the end of November. I currently work a W2 job as an engineer so I am a bit of a techie and I like to be organized while keeping track of the details. I have property management in place but I wanted something that will assist me, landlord, to track things. 

  I could use simple accounting software, but I was wondering if there is something specific to investors?

@Account Closed

This condo is in the Maxwell/ Redwood area and I believe is a conversion from apartments. The payment includes taxes/insurance/HOA. I was thinking the same thing. possibly Air B&B and flip in 6 to 12 months.

Good morning BP community

 I live in Oakland, Ca and have rental property here. This is an expensive market so a new investor has to be very discerning when looking for deals, especially if you are new to the business. My wife and I found have been presented with an opportunity to buy a 1Bed 1 bath condo for 270K. Because of a shortage of funds at the moment we would put 5% down and have a mortgage payment of about 2100/month. The rental market is hot in Oakland and this condo is in a decent area and doesn't need any real work. However, I don't think we could rent this place for more than 2100 to 2200 a month which would obviously be a small monthly profit but a profit none the less. If we can't get the rent we want we could also do air B&B for approximately 200 a night, if rented for half the month that would be 3K. 

   With all things considered we estimate the market continuing to grow in the coming next 2 years. I'd estimate this property could land around 400K in that time. That would be betting and I am not sure if this is something we should do. what do you all think?

Investment Info:

Single-family residence other investment in Oakland.

Purchase price: $300,000

We bought our primary residence 5 years ago. two years later we converted the detached garage into an apartment that we rent to a family member. We currently get below marker rent, however, the potential is much greater.

What made you interested in investing in this type of deal?

We wanted to get in the game

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

conventional financing and borrowing from my 401k

How did you add value to the deal?

created a new living space

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes

My brother-in-law also started working with F&G about a year ago and he has had mostly a good experience, he did mention some of the same issues with communication and direction about how to get the money off the cards was slow as some have mentioned in this forum. I decided to do my own due diligence before diving in.     

  I have been following this forum for a while and have heard mostly positive working experience with F&G. So I think I am going to go ahead and give it a try.

My wife and I are just starting out as investors. She is a real estate agent in California and did a great Job hunt our second investment. It is a 3 bed 1 bath in Detroit for 12K collecting 600/mo. rent near Wayne state university. I need to find an affordable insurance. can anyone assist or suggest?