All Forum Posts by: Vivian Hernandez
Vivian Hernandez has started 14 posts and replied 37 times.
Post: Co-wholesale, such a thing?
- Bridgeport, CT
- Posts 39
- Votes 1
Should l co wholesale to get started? I need to get this started already
Post: RE Agent said Wholesale term not used
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Jeff B.:
Why are you discussing this with her at all?
Exactly..being newbie...l did wonder...but then how do l make the offers?
Post: RE Agent said Wholesale term not used
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Jeff B.:
True; 'Wholesaling' is an investor concept; RE and Banking don't use these terms that I know of.
What term would she be familiar with? Reassignment of contract or offer?
Post: RE Agent said Wholesale term not used
- Bridgeport, CT
- Posts 39
- Votes 1
l met with my agent who l bought my house from to begin Wholesaling. She said that the term wholesale is not used in CT. She l move on?
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @James B.:
Turn-key is not fully passive, as it takes effort on your part- but again, what's your time worth?
I think @James Wise and @Jay Hinrichs said it: you must vet the team and manage those that manage your property. Go meet them and do a tour of the market with several providers, talk to several Property Management companies.
Technology is also your friend. Have your PM's send you videos, pics of everything, if they perform any work, know what is a fair, competitive cost. They must account the income and expenses of the property with a software platform that you can log into and track. Also, email, text, Skype, and BP are an efficient way to communicate with your managers. Ask tons of questions and learn as you earn-good luck!
Thank you!! I have to get out of the 9 to 5!!!
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @James Wise:
Originally posted by @Vivian Hernandez:
Originally posted by @James Wise:
With turnkey investing you are usually far away from the properties and are paying others to do everything for you. With this and anything else in life when you sub it out vs do it yourself the cost will of course increase on everything you do. This goes from management to toilet repairs. You will need to have to let go and entrust a very large investment into others. That can be very scary.
The flip side is that you do not have to do it. It is all about what you best and highest use of your time is. If you can do I.T. work for $100 an hour and decide to pay someone $50 an hour to fix your house vs you fixing your house for free are you really loosing $50 an hour or making $50 an hour as you can spend the time you would have been fixing your house doing more I.T. work.
Does the upside out weigh the downside?
I am a provider so my answer to that would question would be biased.
Understood. Thank you for this though!!
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @Jim Pellerin:
Here are a few ways you can have passive Real Estate investments:
1. Turnkey Fully Management Solutions ... as you mentioned
2. Become a joint venture partner with an active investor (rentals, fix and flips)
3. Money Lender
You can usually find these by attending local real estate investing group meetings. You can also do a search on "real estate investing" or "mortgage investments".
Thank you Jim!!!!
Post: Can you wholesale foreclosures?
- Bridgeport, CT
- Posts 39
- Votes 1
l have access to some properties that can be flipped. Some are foeclosure, how can l wholesale even if its listed with an agent?
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @James Wise:
With turnkey investing you are usually far away from the properties and are paying others to do everything for you. With this and anything else in life when you sub it out vs do it yourself the cost will of course increase on everything you do. This goes from management to toilet repairs. You will need to have to let go and entrust a very large investment into others. That can be very scary.
The flip side is that you do not have to do it. It is all about what you best and highest use of your time is. If you can do I.T. work for $100 an hour and decide to pay someone $50 an hour to fix your house vs you fixing your house for free are you really loosing $50 an hour or making $50 an hour as you can spend the time you would have been fixing your house doing more I.T. work.
Does the upside out weigh the downside?
Post: Are there any down sides to turn key investments?
- Bridgeport, CT
- Posts 39
- Votes 1
Originally posted by @James B.:
Turn-key is not fully passive, as it takes effort on your part- but again, what's your time worth?
I think @James Wise and @Jay Hinrichs said it: you must vet the team and manage those that manage your property. Go meet them and do a tour of the market with several providers, talk to several Property Management companies.
Technology is also your friend. Have your PM's send you videos, pics of everything, if they perform any work, know what is a fair, competitive cost. They must account the income and expenses of the property with a software platform that you can log into and track. Also, email, text, Skype, and BP are an efficient way to communicate with your managers. Ask tons of questions and learn as you earn-good luck!
How much can l start with?