All Forum Posts by: Snehann Kapnadak

Hi All,

Hope your new year's are all going well!

Has anyone worked with Mike D'Arrigo and Pinnacle Investment Properties, specifically in Kansas City? They're on my radar and I'm trying to do my initial due diligence. I've been on their website and listen to their podcasts pretty religiously and Mike seems like he has a ton of knowledge about the KC (and Indy) markets. Both of these markets are of interest to me but I'm leaning towards KC for my first buy and hold turnkey property.

I've been checking the forums but can't seem to find too much information on them, yet I know Mike posts very frequently and is very engaged on here. Would love to hear everyone's thoughts and specifically those who have worked with him and his team. Please let me know, thanks in advance!

@Lance Robinson Thanks for your response, I'll reach out to you privately :)

@Chris Clothier Thanks a lot for the advice. Really good stuff and definitely got me thinking about redefining my REI strategy. I think I was thinking of leverage and negotiating with a TK provider in the sense that their properties are all interconnected across all markets. But clearly that doesn't seem to be the case. I definitely hear you on a good property manager and building a solid team. I'll try to make that that priority. BTW I spoke with one of your counselors some time ago and he was great! Will keep you guys in mind for when I'm ready to pull the trigger and start investing.

@Clayton Mobley Thanks again for the advice. My concern lies with if I start building in one market and then if that market crashes, then I'm out of luck. Instead if I buy in one market, then another, then another, then maybe back to the first, at least I can spread the risk. But I definitely hear you about markets varying street by street and picking a provider who knows the ins and outs of each market.

@Phillip Dwyer Thanks for the tip! My only issue with that is that initially I wanted to scale up and possibly use leverage with one provider through several markets (thinking wayyy long term). If I use multiple local property management companies, I might not be able to build that leverage. Thoughts?

@Ali Boone Ha, I've heard about how hot Atlanta was a few years ago. I like your suggestion of evaluating different providers over a year's time. It's certainly not an affordable option for me, but still a strategy worth thinking about. Due diligence is definitely something I will keep in mind for all future deals, thanks for that.

@Tom Ott Thanks! Yes that's exactly what I'm trying to do while working by full-time job. I'm aiming to have a portfolio of TK properties across several markets so I can diversify and reduce the risk. It's kind of like capitalizing on the beauty of how real estate is "local". I'll definitely reach out to you with more questions.

Hey @Mark Ainley thanks for your advice. Yes I've heard that the management company and PM are key to a good turnkey investment. I'll definitely check you guys out if I'm considering Chicago.

@Sharad M. I didn't really consider the admin costs between managing different teams, so thanks for bringing that up! You don't think I (or any investor) would be able to leverage a buy across several markets with one national provider? I'd assume that if I buy from them in one market and then buy from another market, I'd be able to leverage and possibly reduce the admin costs in the third market. I understand real estate is local but do you think that's doable with the same TK provider? Hope that makes sense!

@Clayton Mobley That makes sense and thank you for your advice as well. Yes I was possibly thinking about being in 2-3 markets only and then growing my portfolio from there. My concern was that I didn't want to invest in and grow my portfolio in one market, and then if that market crashes, all my properties take a hit. I heard this happened to Phoenix and Las Vegas during the Recession. If I invest in a few other markets, I'm hoping to spread the risk. Is this similar to what your clients do?

@Lane Kawaoka Haha do you utilize this strategy? How's it going for you?

Thanks again everyone!

Hi Everyone,

Does anyone have a portfolio of strictly turnkey properties? I'm talking about 5-10 (or more) properties that were bought "turnkey", with property management and tenants already in place.  No fixes and flips, no looking for deals on your own, just 100% all through turnkey?

Did you buy all of them through one or several turnkey provider/promoters? If so, what was your experience like? Which provider(s) did you go through (if you're willing to share)?

Reason I'm asking is because I'm thinking it would be something that I would want to do. Ideal scenario, I would buy one TK property in one market, then another in another market (to spread the risk), and then eventually work my way up to about 10 properties or so. It's too expensive to invest in my area, so I plan on investing out of state. Is this a sustainable plan? Has anyone had success doing this?

I'm curious as to what other investors may think. I'd prefer to hear from people who have multiple properties, but please let me know if you have any advice that may be useful to a newbie investor like myself as well. Thanks!

 Hey Brian I had asked a similar question for properties in Indy, which may be useful for you: https://www.biggerpockets.com/forums/48/topics/323140-bare-minimum-for-down-payment-in-indianapolis?page=1#p2082680

Hope that helps and let me know if you get any more information! I'm in a similar position as you with trying to save up for the down payment as well.

Hi Dolores,

I'm curious about this too. I've heard through some of the forums that duplexes in Indianapolis don't really check out that well. Apparently, the numbers supposedly look great but most duplexes end up needing a lot of work because they're in C class neighborhoods and have high tenant turnover. I'm super new to REI but I'd definitely like to hear what others have to say. Good luck!

Hi Everyone,

I'm looking to invest in Indianapolis and want to set a goal for how much money I need to save up to pay for the down payment.

I'm looking for A-/B properties and I've been noticing that many of the ("good properties") range from $90k - $140k+. Of course, I'd rather go for a lower price, but I'm well aware that cheap isn't always the best way to go...especially with such an important investment like real estate.

My point is that I've been told to save up to about $20k or so and then from there I can start "playing around with real estate". What is everyone's thoughts on this? Would love to hear what you think.

Since I'm super brand new to REI, I don't want to mess around with creative financing yet. I'm looking to purchase a property "the regular way" first--get pre-qualified for a loan, put 20% down, do my research and due diligence, move forward on a property, and develop a strong relationship with my property manager. Down the line, I definitely want to explore creative financing options. Thank you!

Thanks again for everyone who's helped on this post. After doing a little bit more research, I think I'm leaning more towards Indy than to Memphis. Both seem like great markets, but Indy seems more up my alley in terms of growth (and stability as well). Both seem like very "boring" markets haha, which is great for an out-of state investor like me. I especially like the fact that there are a lot of colleges in Indy, and being a recent grad myself, I think I'm attracted to markets where there are colleges nearby that will "feed" students into contributing to the local economy.

Would love to hear more from other out-of-state investors who've invested in Indy, and from anyone else who has something to share. Thanks again!