All Forum Posts by: Parul S.

@Dave Olverson - thanks for the heads up. I'll look into Vision Equity. My experience with Maverick Investor Group is very early stage, but nothing too report that has been either very impressive or unimpressive. I'll keep you posted on how it goes. Also, since you're in NYC, have you heard about the BP meeting up in NYC on March 11th at 6:30pm at Pranna (79 Madison Ave at 28th Street)? My husband and I will be attending and we hope to meet other like-minded individuals. All the best.

@Alex Moore - Completely agree. I'm going to start a forum asking for specific TK recommendations from investors (NOT advertising) and will @ mention you. Lets see if that gets us anything.

@Alex MooreGreat to meet other investors that are looking out of state. I am based in NY, work in finance, and also looking to invest in passive turnkey properties for cashflow.

@Dave Olverson - I noticed on another forum that you are looking at Indy, Houston, DFW and Chicago - those are very similar to the areas I'm looking at as well. I was just listening to a webinar on Indy organized by Maverick Investor Group, referred to me by @Ali Boone

I hear a lot of pros and cons about TK but I'm warming more to them everyday, given my own position and circumstances.

To be honesty, I would be most interested to hear about positive or negative experiences that investors have had with specific TK companies (beyond googling them, asking for references, or finding one-off anecdotes on BP). I see broad references to the TK industry but don't hear of many specific companies mentioned (Maverick is the first TK company I have gotten a positive endorsement on).

@Brant Richardson - good point on the property tax. Thank-you.

@Patrick L. - I like your rule on $500+/unit on rent - I think I am going to borrow that rule for my investing. Thank-you

@Joe Fairless - good point on asking the property manager and didn't think about comparing it with market rents. Thank-you

@Pete T. - very true. I think the neighborhood is rougher so that may well explain why no one else has been keen to touch this. Thanks for the insights!

@Adam Roberts - great questions - let me see if I can find answers! And I'm glad someone else finds the numbers exciting. But what worries me is why has no one snapped it up in the last 9 months - what am I missing?!

I'm trying to get better at gauging why certain properties have not been touched by buyers, and sit on the market for 9+ months.

I found a multi-family listed currently listed for $57,000, that has been on the market for the last 9 months, and reduced its price by ~2% every 3-4 months.

It consists of 4 units rented with $1350 total income. All units are 1bd, 1ba. Back 2 units rent for $300 front units rent for $375. 2 separate buildings - front 900 sq ft, back 2 are 576 sq ft.

My question - if the rental income is accurate, why is this still on the market even though it meets the 2% rule? Is it because of the pains of renting 4 separate units, implying more vacancies, more work/property manager fees to keep them rented?

Thank-you!

@Ronan Donnelly - FYI

@Darren Sager @Javier Diaz - I have confirmed that my husband, @Ronan D. , also a RE investor and BP member, will be attending the BP meetup next week. Please add him to your headcount for the event - thanks!

@Javier Diaz - great to meet you JD and also excited to hear from a fellow BP-member from NYC! I hear the same about Queens and Brooklyn and agree with you on the opportunities - just need to know where to look.

Unfortunately, I am out of town on work on 1/14 so I'm really gutted that I won't be able to make the BP meet-up and see Brandon :(

But I have a husband whose done RE investing for over a decade @Ronan Donnelly, who will be able to attend the BP meet-up next week. He also has some of his own capital that he is looking to invest specifically in NYC/Queens/Brooklyn, so I hope you two can meet next week.

Either way, great to meet and lets keep talking.

Best,

Parul