All Forum Posts by: Anton Ivanov

@Johnson Best @Jon S.

Sorry for the late replies. I can't post much publicly due to BP's self-promotion rules, but if you have any questions, send me a message, or reach out to our support team who would be happy to help.

We have almost half a million users using our platforms daily who absolutely love them.

Hey @Travis Mire,

My 2 biggest suggestions for picking PMs and contractors in out-of-state markets are:

1. Get referrals from other investors or people that you trust as opposed to just searching on Google or somewhere else. In my experience you're much more likely to connect with worthwhile companies/people this way

2. Focus on how they are with communication, especially with PMs. They should be prompt, forthcoming and honest. If they are ghosting you, or you feel like they don't have the time to chat with you and answer your questions, I would move on

Send me a message on here and I'll send you a link to a list of more detailed questions I would typically use for searching for PMs and other professionals.

Good luck with your first deal purchase!

@Qais Attarwala

I used Norada back in the day and was happy with the experience overall.

Just keep in mind, that you still need to research the market, neighborhood and each property, even if you're buying turnkey, because not all turnkey properties will make a good long-term rental.

@Robert Ruschak

Thanks, Robert. Yes, our IRR is quite high when you factor in property appreciation, loan paydown and cumulative cash flows, especially if you compare that against stocks/bonds, for example.

Hi investors,

We have a great cash-flowing turnkey property for sale in the Birmingham, AL market.

This turnkey investment property has a Section 8 tenant paying $975/month. The long-term lease is good until November 2023. There is an option to increase the rent to over $1,100/month with approval through Section 8.

There is existing property management in place, so you can start collecting income from day 1.

The property had many upgrades completed over the last few years:

- Kitchen, living room and hallway fully re-done in 2022, including new flooring, ceiling, cabinets, countertops, fixtures and paint throughout
- The electrical service has been completed replaced/upgraded in 2022, including new 200 amp panel, breaker boxes and writing throughout
- New main water supply line installed in 2022
- New combo HVAC unit installed in 2021
- Roof was partially replaced in 2019
- New water heater unit installed in 2016

See the listings on the BP marketplace for more details and photos:

https://www.biggerpockets.com/...

This won't last long, so if you're interested, contact Jeremy Galloway ASAP:

Jeremy Galloway
[email protected]
205-605-9432

@Kenny Kuramoto

If you're only using your HELOC for financing, then you don't need the second loan - just enter the HELOC information (likely interest-only loan, 6% rate, term after which you need to repay it, etc.) as your only source of financing. Also make sure you specify what you're financing with the HELOC (some or all of the purchase price, some or all of the rehab costs, or both).

Feel free to PM me with additional questions.

@Huong T Nguyen

I typically only find property managers through referrals from other local investors and then do an "interview" with them, where I ask a lot of questions to see if would be a good fit. You can see a list of the main questions I ask in this post I wrote.

As far as "managing" them, it all really comes down to maintaining communication with them, establishing processes/checklists that you'd like them to follow to make sure things are getting done as you'd like, and keeping them accountable. I wrote this post that has a few more details on this.

@Snehanshu Ashar

If you're asking whether I know of any turnkey providers or websites that streamline larger multi-family or commercial property investing, then no, I'm not aware of them.

There may be some private equity groups or syndicates you can invest with if you're not interested in doing it yourself, but I don't have experience in this area either. 

@Sahil Shah

Sorry for the late reply, I didn't see your post earlier.

Instead of focusing on properties right away, I can suggest to first:

1. Work on your investment goals - what you want to accomplish, when is your deadline for accomplishing this, how much time/effort/money you're willing to dedicate to this, etc.

2. Pick a market to focus on.

3. Build a network of professionals in your target market - real estate agents, lenders, property managers, contractors, insurance agents, etc. I would recommend always working with people you find from a referral from other investors, but also interviewing them yourself over the phone or in person.

In the process of doing the above I suspect you'll learn a good deal about real estate investing in general and be ready to start looking at actual properties.