New OOS Investor looking for a Trustworthy Turnkey Company

Rental Property Investor · Rockwall, TX · Member since 2017 · 87 posts · 49 votes

9y

Aloha!

I wouldn't say it's "too late" for Dallas or Houston. But Dallas at least is a pretty tight market. AREI has a nice operation going here. Class 'A' properties running $100,000 + with no rents < $1,200/month. The biggest problem with investing anywhere in Texas is property taxes. We have no state income tax so we fund our schools and other government services mainly with a combination of property taxes and sales taxes. That can make it really tough to cash flow.

I haven't invested with any of these companies yet, but you have a good list there. Also take a look at American Wealth Builders. They are doing most of their business in Ohio; mainly Columbus and Cleveland.

Good luck!

1 Reply

Marco Santarelli

Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes

9y

@Evelyn Kop -- Welcome to BiggerPockets.

I'm glad to see you are taking your time and doing some research and due diligence. My first rule of my 10 rules of successful real estate investing is "educate yourself". Knowledge is the new Currency. You will reduce risk and go further by building your knowledge.

I see that you had a reasonably detailed conversation with Michael on a Sunday morning. That's dedication. It's important for you to know where you stand and where you want to go. That leads to your roadmap. Then you can define your criteria and let the criteria drive your investment decisions in terms of the market, neighborhoods, property type, cash flow or return requirements, etc.

Be cautious of some property providers who will try to sell you properties that look great on paper, but are in poor or lower-income neighborhoods where are your tenant issues and turnovers might be greater than better properties in better locations. There are many things to consider, so be sure that you have an advisor or counselor looking out for your best interest.

It's also strongly advisable that your counselor be completely agnostic; meeting they are not married to any one market or provider, or property manager, or lender, or any other service provider. Otherwise there is often a strong tendency to provide biased advice or suggestions.

I could go on, but I'll let you ask more questions. Also, consider downloading our free e-book, "The Ultimate Guide to Passive Real Estate Investing".

P.S. Why would you be thinking about only properties in California or the East Coast? That's a discussion you may want to have with Michael, me or anyone on our team. In most cases that's not investing.

Continued success!

4 Reply

Hank Keller

Rental Property Investor · Mansfield, OH · Member since 2017 · 151 posts · 117 votes

9y

Check out Tom Ott in Cleveland if you want to look at Ohio. I've been with the same Turnkey company for the past 3 years in Indianapolis with good cashflow and last year appreciated 16%. I have 7 SFH's in Indianapolis and 1 in Charlotte. The company has over 2000 homes under management and also has opertors in Dallas and Kansas City. PM me if you'd like to discuss more.

0 Reply

Engelo RumoraBusiness Member

Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes

9y

Originally posted by @Evelyn Kop:

Hi Everyone!

First off I want to thank everyone on BP for being incredibly supportive! I've mostly been browsing the forums and binge watching the podcasts, but the few people that I've already reached out to have been really great! As a new investor the wealth of knowledge on this site is invaluable! So I figure why not tap into it and get some advice?

We are from Hawaii and are looking to find investment properties that provide passive income. After research we were attracted to Dallas, Houston, Kansas City, Memphis, Ohio, and possibly Utah. I've contacted Memphis Invest, AREI, USREEB, Midsouth Homebuyers, Ohio Cashflow, Norada, and we're waiting to speak with Morris Invest. I'm kind of at a point of analysis paralysis...with our work schedules, the distance, and a toddler I don't think we can visit any of these sites in the near future. We want to focus on cash flow first but wouldn't mind appreciation as a added benefit. I'm anxious to start but also nervous about who to trust with our hard earned money.

I would really appreciate everyone's insight and experiences with these areas and turnkey companies (or your own recommendations) Are we too late to invest in Dallas or Houston?

Would also like to connect with other Hawaii investors!

Eventually I would love to own properties in CA, and the east cost...possibly abroad!

Wishing everyone continued success on their path to passive income and financial freedom!

@Joshua D. & @Brandon Turner - Keep the podcasts coming, LOVE THEM!

Evelyn

Thanks for the mention Evelyn,

There is little to know appreciation in our market so I don't suggesting investing here unless you're looking for pure cashflow in solid B class areas.

Much success

Podcast Guest on Show #89

Oz Realty4.5369 Reviews

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1 Reply

Federico Gutierrez

Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes

9y

Originally posted by @Engelo Rumora:

Originally posted by @Evelyn Kop:

Hi Everyone!

First off I want to thank everyone on BP for being incredibly supportive! I've mostly been browsing the forums and binge watching the podcasts, but the few people that I've already reached out to have been really great! As a new investor the wealth of knowledge on this site is invaluable! So I figure why not tap into it and get some advice?

We are from Hawaii and are looking to find investment properties that provide passive income. After research we were attracted to Dallas, Houston, Kansas City, Memphis, Ohio, and possibly Utah. I've contacted Memphis Invest, AREI, USREEB, Midsouth Homebuyers, Ohio Cashflow, Norada, and we're waiting to speak with Morris Invest. I'm kind of at a point of analysis paralysis...with our work schedules, the distance, and a toddler I don't think we can visit any of these sites in the near future. We want to focus on cash flow first but wouldn't mind appreciation as a added benefit. I'm anxious to start but also nervous about who to trust with our hard earned money.

I would really appreciate everyone's insight and experiences with these areas and turnkey companies (or your own recommendations) Are we too late to invest in Dallas or Houston?

Would also like to connect with other Hawaii investors!

Eventually I would love to own properties in CA, and the east cost...possibly abroad!

Wishing everyone continued success on their path to passive income and financial freedom!

@Joshua D. & @Brandon Turner - Keep the podcasts coming, LOVE THEM!

Evelyn

Thanks for the mention Evelyn,

There is little to know appreciation in our market so I don't suggesting investing here unless you're looking for pure cashflow in solid B class areas.

Much success

It's all about that passive income for us Aussies. Making money while we sleep.Go Cavs

2 Reply

Roxanna Pifer

Investor · Mount Bethel, PA · Member since 2013 · 45 posts · 29 votes

9y

The first one is the hardest. As Martin Luther King said "You don't have to see the whole staircase, just take the first step." If it helps any I just used Norada for property #6 and was very happy. As for which area, that is a personal decision but for me it's all about low taxes so I stayed away from Texas.

1 Reply

Ian Reeves

Rental Property Investor · Shawnee Mission, KS · Member since 2016 · 58 posts · 52 votes

9y

@Evelyn Kop - I am a mostly buy and hold investor in Kansas City, I would be happy to help if you need an un-biased 3rd party opinion on things. My average house here costs me ~$60,000 and my average rent is ~$850-900. If you are willing to find the deal yourself, maybe with a little boots on the ground help and then turn it over to a PM I think you might find some better deals. You also will not be locked into one property manager. I PM'd you my cell number. Feel free to give me a call, I can also help you out a bit with areas etc.

-Ian

2 Reply

Evelyn Kop

OP

Investor · Pearl City, HI · Member since 2017 · 30 posts · 10 votes

9y

Thanks for all the responses everyone!

@Mark Whitted - Would you recommend Houston over Dallas? Or vice versa? Will definitely take a look at American Wealth Builders, thanks for the recommendation!

@Marco Santarelli - I am trying to do my due diligence but my fear is that we'll be "duped" into buying a property that looks good on paper but are in rough neighborhoods. I'm struggling to figure out how to ensure whoever we end up working with has MY best interest in mind... I do understand it is a business, and really want this to be a win win for everyone involved...just scared to be left holding the short end of the stick and being too far away to do much about it.

I am looking at properties everywhere, my longer term goals are California, East Coast, and abroad.....to be honest I was thinking of the tax benefits of having properties in those places because they are places I like to visit....maybe naive on my part...right now I want to find a one or a few trusted advisors/providers to purchase cash flowing properties to grow our passive income and portfolio.

@Hank Keller - Thanks for the recommendation, I will PM you!

@Engelo Rumora - To our favorite Australian! Appreciation is a secondary benefit for us, our primary goal right now is cash flow. We are still interested in Ohio, however I think our hang up would be that we would want to finance our first few properties while I believe you work mostly with cash investors. I would love to work with you in the future when we have more capital built up!

@Federico Gutierrez - Making money while I sleep sounds FABULOUS!

@Roxanna Pifer- Thanks for the response! I'm trying to build up the courage to take the plunge! May I ask where property #1-5 were and who you used? Also where you ended up purchasing #6? Glad you were Happy with Norada, that is good to hear!

@Ian Reeves - Thanks for the message, I look forward to speaking with you!