Roof stock for turn key investing

[Zachary Beauchesne]

Has anyone out there invested in SFR using roof stock.com? Seems like a good/ low cost way to get into real estate investing with someone who has about 20k to invest. Any thoughts?

[Jason Pabon]

Disclosure: I am an employee at Roofstock

@Zachary Beauchesne A turnkey provider is someone who rehabs the home and sells it for retail value. They're essentially flipping and selling it to a buy/hold investor. It's a great way to get started and learn the ropes (passive investing).

There are different levels of "turnkey" and suppliers on Roofstock - just depends on what you're looking for. They all go through a certification process before they're listed.  Make sure you buy single family homes on comparable home sales vs buying based on a cap rate.

Run your numbers, evaluate different sources, and start picking the right strategy for you.

I've bought two rentals through Roofstock and here are the numbers on one of them:

Address: 19520 Pasnow Ave Euclid OH

https://www.zillow.com/homedetails/19520-Pasnow-Ave-Euclid-OH-44119/33624298_zpid/

Price: $52,000
Down payment (20%) + closing costs: $15,000
Rents: $950/mo
Expenses (principal, interest, taxes, insurance, management): $482/mo

Rents (950) - expenses ($482) = $468/mo

I didn't include repairs here since it varies but avg ~$200/mo

I hope this helps!