All Forum Posts by: Ruchit Patel

What are you trying to do in Ohio?

Buy and hold? BRRRR? or something else?

Congratulations on the new journey. 

I am from the bay area of California and I invest out of state with the help of a turnkey provider.

In general, when you begin your journey, it will come down to consuming more and more online content to learn enough to ask the right questions. Then you will be able to find people you can trust. Then you will be able to get investments for your money, and have a good night's sleep at the same time! 

I am from the bay area of California and I do invest out of state with a turn key provider. If you wish, we can connect and I will share my experience. 

Yes, out-of-state rehab can be very risky and you don't know what you don't know!!

That's why there is a trend of buying turnkeys out of state!! Fewer returns than BRRR but double the return than the stock market, and significantly less risk if done with a good turnkey provider.

That's something I have done too. 

Real estate any day!! 

Good turnkeys, complete passive investment, still provide more return than the stock market!! 

 Thanks for the details. I didn't realize, one has to hold for a year to do a 1031 exchange. 

And yes, interest going more than double, it took away $400-600 cash flow from that deal, right!! Let's a lot of money every month. 

Thanks for the quick response. 

Then would you say, selling a house, getting full profit as cash, and then using that with 1031 to buy other cash-flowy properties would be a better way? or on a grand scheme, it's all come out to be the same?

Thanks for giving updates here, Don.

Do you mind, elaborating on exit strategy? 

If you refinance, for saay $400,000 value. So, you get $320,000 as 80%. Loan is ~$250,000.

That would mean, you can get $70,000 cash out to invset more. 

Now my question is; is ~$2450 rent enough to cover mortgage of $320,000? or now your deal will become overall negative every month?

Thank you.

Everything is possible, but yes, you would be limited by how much hustle you can do due to your existing job. The amount of hustle will determine how big returns you make. That's why the turnkey route is pretty common in people with W2 jobs and families. Time commitment is pretty minimal once you find good company/people to invest with. 

I was in the same boat, around two years ago. After debating for 100s of hours in my mind, I decided to go with Rent To Retirement. Their build-to-rent model is giving extremely juicy returns, if you have good patience, that's a great route. 

In general, for long-term buy-and-hold ready properties, returns are affected due to an increase in interest rate. But that's all part of the cycle and the economy. All one can do is think long and still buy net positive properties or adat and maybe do build to rent. 

What's your goal though? Different people are experienced in different fields