All Forum Posts by: Tim Stuart

@Tony Robinson

That’s a victory in my book. Strong work and thanks for sharing!

Tim

Hey @ozzy sirimsi,

I am a full time firefighter here in California and used my equity to invest in 5 turnkey properties out of state, 4 in Baltimore. 

Real estate is not my primary profession. Please remember that BP is a forum where new investors come to learn about real estate investing from those with experience, such as yourself.

If you are going to leave feedback, I’d appreciate doing what @ian Barnes did and leave some objective feedback and not you opinion of whether or not this is an advertisement, because that is incorrect. 

If you want to continue this conversation in private, message me directly and we can have a constructive conversation over the phone.

Thanks for your understanding, I’m all ears to learn from everyone here at BP.

Tim

Hey @Toby Yu,

I live in SoCal and have recently invested in NW Indiana. If you want more info on why and where I invested there please dm me and we can chat! Thanks!

Tim 

Hey Satyam Mistry Yes I plan on keeping them until it makes sense to 1031 exchange them for a higher cash flow property. 

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $148,000
Cash invested: $30,000

Finally closed on our last 4 pack of SFR in Baltimore. This is a 3 bedroom, 1 bath Turnkey Rowhouse in Baltimore located just south the the VA in the north part of the city. This house was completely renovated with a new roof down to the mechanicals in the basement and rents for just under the 1% ratio.

What made you interested in investing in this type of deal?

TurnKey investing allows me to maintain my focus on my family and my W-2 job so I can use my time investing and not managing properties.

How did you find this deal and how did you negotiate it?

@Oliver Fu is my trusted advisor @Norada.

How did you finance this deal?

Conventional

How did you add value to the deal?

The appraisal came back under the contract price and because I was purchasing 4 properties at the same time, the seller agreed to drop the purchase price.

What was the outcome?

Our 5th turnkey rental.

Lessons learned? Challenges?

It's difficult to compare comps when the house I was in contract with was a full gut and remodel. I think that is why the appraisal came in lower than expected. Either way, its a well-done remodel and has a cash flowing tenant.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@ Oliver Fu @ Norada. I highly recommend using @Oliver Fu as an advisor. As a new investor, he walked me through the process and pointed me in the right direction.

@Mike hourihan my average Coc return will be around 13%. I have a total of 4 properties in Baltimore and that’s the average. My resents are at the 1% ratio and property management costs 6%. My highest is 14.7% and lowest Is around 12%

 Hi asakusa chimpo can you elaborate on what you mean by conflict of interest vs. their turnkey business. Thanks! 

@ Travis Henderson I just ran the numbers and that’s where I got the best return. It’s a growing turnkey market with a great jobs in the metro area. You definitely need to choose the right neighborhood. Thanks for looking. 

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $155,000
Cash invested: $32,000

Located in NW Baltimore (Greenspring) this end unit 3 bedroom, 1 bathroom Rowhouse was completely remodeled as a TurnKey rental. I found this deal through @Oliver Fu @Norada and we just closed last week. It rents for just under the 1% rule, producing a 13% CoC return.

What made you interested in investing in this type of deal?

This turnkey investment lets me earn while I learn and affords me time to focus on my next deal.

How did you find this deal and how did you negotiate it?

@Norada recently partnered with a Turnkey provide in the Maryland market. My trusted advisor @Oliver Fu introduced me and we found this and 3 other properties through this provider.

How did you finance this deal?

Conventional

What was the outcome?

Another cash flowing turnkey property.

Lessons learned? Challenges?

State transfer tax of 2%, split by buyer and seller.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Special thanks to my trusted advisor, Oliver Fu and Norada Real Estate.

@ozzy sirimsi it’s between Allendale and Rognel Heights. The rent meets the 1% rule as I think it reflects the quality of renovation and neighborhood. Thoughts?