All Forum Posts by: Arch Stanton

Forgive my rookie question. Investing OOS for the first time, and using a TK provider for the first time.

I understand I'll be paying (significantly) more for a TK provider home. I was offered some of their properties, and at 30% down I am barely cashflowing. Cap rate is about 5.5%, but cash flow is less than 100 USD per month.

The TK provider is well known here on BP, and they are known to have a decent tenant management.

As it's my first time investing OOS, would appreciate someone to weigh in? The team members I've worked with are super nice, but I have to ask, are there significantly better turn key provider deals to be had with a little more patience/perhaps better expectations set from me?

For details: One example property is a SFH, south west of Little Rock (close to 430 and 30 intersection), price is 230. Neighborhood B

Thank you

As title says.

I'm looking at buying turnkey (through a well known provider on BP), and would like an independent property inspector.
As per the TK provider business model, property was bought cheap and rehab done (work provided). Expect property inspector to investigate rehab performed was good, alongside general property inspection.

Can a BP member please recommend a good inspector along with what I should expect to pay for the service.

Thank you

Please can you also PM me the contact too

@Troy Fisher @Andrew Kniffin

Thank you!

Hell

Looking to understand and get advice if there are still accessible opportunities to grow wealth through real estate in the Seattle area (Seattle, Bellevue, Issaquah or beyond).

Objectives:

- De-risk income/wealth from my full time job

- Grow wealth (property appreciation) 

- More cash flow (if possible)

- Have somewhere to stay (myself and family) when I visit (why something like STR/corporate rental would be great - can have a spare few weeks here and there)

I have a couple properties in the Seattle/Bellevue area. Both times I bought and I did a refurb (nothing structural, just new kitchens, bathrooms, moved walls around). One was a foreclosure. Rented one out long term and AirBnB-ed the other. I haven’t bought anything for more than 5 years. I am American, but I moved outside the states a couple years ago, but I expect to start spending more time back in the PNW in the the next few years, and a stretch goal is to be able to accommodate friends and family when they visit, which should be increasingly frequent. I kept meaning to buy for a few years, but I’ve been simply overloaded with a startup.

My current country prevents me from purchasing property (non-citizen), and doesn’t offer fixed rate mortgages - the floating rate is high rate at 7%, and has been about this the last 20 years. One reason I am looking back to my country (USA).

Regarding finances - annual cash income, jointly with spouse, 200-250k. Most of that is from overseas salary - about 1/3 is from my US properties in the Seattle area. Have > 2M equity in existing properties I could maybe tap and enough liquid net worth to make a down payment.

Expecting to put 20% down. I don’t live in the USA all the time (< 1 month last year), so coordinating non-trivial refurb may be awkward, not sure my old handymen etc are going to be available (or suitable) so perhaps something a little more turn key is suitable. I had a quick call with a mortgage broker and they said over the phone a 1M purchase price, 20% should down be OK at a mid-high 6.XX% rate 30 year given my current income and credit (780820). Might be able to squeeze out more. Working to get a mortgage approval letter now. Wouldn’t mind having some higher limits as Redfin/Zillow doesn’t report much good for 1M.

Maybe that means I need to get something that needs more work. A Duplex property or a property with an ADU could be interesting too. Shoot, if I can work with a good realtor I trust, could go the foreclosed route again. How does one access the off-market deals?

Obviously would like to cash flow, but guessing if I can I would need to STR - perhaps AirBnB or corporate rentals, and even then probably would have to be a refurb. As I've been away from some time, I'm not sure if cash flowing is a realistic expectation. Perhaps ROI may only come through appreciation for the near future and I'll have to ‘feed' the property for a few (many?) years until rents increase or I can re-mortgage at a better rate, if we will ever see those kind of rates again.

Also long time lurker and finally joining - I used to frequent this site when I lived and worked in the area years back. Helloooo :)

Thanks