All Forum Posts by: Torey Chumbley

@Rohan Deshpande, thanks for your input. They do have some nice tools but, like you I wonder about the accuracy of some of them. I also read somewhere that they have a disclaimer in their sales contract that excludes them from any liability. Did you go through their academy or just use their website?

@Tony Kim, @Account Closed, You both made the very interesting observation that at least two of the people who gave rave reviews about the Roofstock academy also created BP accounts on the same day. Thank you for pointing this out. The program they offer might be great but, this hurts their credibility, which makes me a little sad. I was almost ready to pull the trigger because I was nearly certain that this was my ticket on board the investment train that so many of you here are on. In the past, I have spent many hours researching and reading the articles here and have listened to Brandon Turner so much that he feels like part of my family. But for some reason, I can't organize what I have learned into actionable information. The hardest part for me is deciding where to invest. As was mentioned earlier, what I really need is a mentor. Do you know if the person you mentioned is a professional mentor or coach? I would love to talk with him. 

@Dean West Thank you for sharing your experience! You mentioned that the coaching and community were the most valuable part of joining the academy. I feel like those would be the keys that would have the most impact for me as well. Having someone to talk to who could answer questions as they arise, would be huge! I have read so many books and listened to many hours of pod casts and webinars but, I still feel like I don't know enough to take the plunge. Sometimes I wonder if I should have jumped in years ago, before I knew anything. All the information swirling around in my head now has only caused me to overthink and stall. Having someone to help me make sense of it all and provide some direction, might be just what I need. To address the point brought up by @Account Closed feel like Roofstock used any part of the academy program as a tool to sell you their listings? Also, 1150.00 is a steep price, but if it really is as good as you say, 1150 is a bargain.  

Torey

Thanks for sharing your experience Chris, this really helps! I hope you don't mind, but I have some questions for you. You mentioned that you purchased a test property. Can you explain?  Where is you property located? Have you purchased others? 

Torey 

Hello everyone,

As a newbie investor, I am trying to learn as much as I can before taking the plunge. I started the process of learning over a year ago, but I still feel no closer to making my first purchase. By accident, I found Roofstock's academy on their website. The program looks interesting and even offers a lifetime money back guarantee. The price is not cheap, but if I can learn what I need to become a successful investor it will be money well spent. My question is:  Have any of you had experience with this program and if so, what did you think? 

Thank you for helping! 

@Austen Howell,

I would love to hear some feedback about AHI from some of your contacts! At the same time I would also like to hear about other prop management companies that you or others have worked with. 

Thank you!

Hello everyone!

I am interested in buying a sfh or a four plex in the beautiful area of Huntsville. I am an out of state investor and from what I have learned, the property manager is one of, if not the most important piece(s) of your team. I have been looking at a few different deals but, I have not settled on anything yet. I was referred to  AHI Properties and I am wondering if any of you have had any experiences with them that you could share. I contacted them originally to get info on the area but, later found out that they also sell investment real estate. Seems like a great package but, I need to be sure that I am dealing with a great company before I more forward. 

Thank you for your help! 

@Brent Coombs, 

Thanks for your advice! I know I am giving up the cream but, I am not an experienced investor plus I run my business full time . Maybe after I have a few under my belt,  will try my hand at finding and rehabbing myself.  

The reason I have concerns about multi is that I am worried about the type of tenant, vacancy and repairs I might have. Are the extra headaches worth it? 

I am looking for cashflow over appreciation at this point because I plan to retire in the next 4 years. 

The proforma they gave me was slightly off, but Amy with Norada did a full analysis that looks much more realistic. 

8 unit: Purchase price 525,000, 141,750 down, cap 8.9, cash on cash 14.5% , cashflow 1717.00 per month

Hello BP family!

I am a first timer from Nor Cal. I have talked with several turnkey providers and have settled on Norada real estate investments going forward. Originally, I was interested in sfh's to build my wealth and cashflow but, recently I have become interested in jumping into mfh's instead. I have looked at a few deals in the smaller apartment building range of 4-8 units. The cashflow is much better than the sfh's and it seems like a major shortcut to my goals. Am I foolish to buy a turnkey multi-family as my first investment? 

Thanks for your help!

Torrance

Wow, I am a little overwhelmed with the many responses I have received! Thank you to everyone who has offered their wisdom and kind advise! Do you have all given me plenty to think about. @Aaron Klatt @Alex Price Your point about what makes sense from my cash Flo stand point is well taken. If I stopped adding $3400 per month to my mortgageFor the next 3 1/2 years, I could use that $140,000 to buy a rental cash or leverage two or three but maybe I’m getting ahead of myself here! @Steve Brenton, @Mike D’ arrigo You make a good argument for not paying off my mortgage early. I still owe about 200,000 with an interest rate at 2.3%. It does seem silly to focus on paying down the loan with such a low interest rate when I could use the money to buy Cash flowing properties. I guess I just need to become more comfortable with debt. In the mean time, would you take the 100k that I have saved and leverage two properties or find one to pay all cash?