All Forum Posts by: Billy Maloney

Yah I see that. @Dexter McCalla are you familiar with the area? Any signs of the neighborhood improving. I hear there are plans to revitalize some areas like the lakeside development. Although I have read that it has been in the work for years and not much has happened yet. 

Im analyzing a deal that looks pretty good on paper. Its through a turnkey company Eliteinvest. The property is on S Coles AveCHICAGO, IL60649 price is 175k projected rent is 1100 each unit, total 2200.  I believe it could be a good deal short turn but the tenants would be section 8 and the area is not the best area. It is close to the water though.  Does anyone have any good or bad experiences with Elite. Anyone with knowledge of the area think this would be too risky in the long run?  

Hey @Michael Brito Everything is still rolling. It almost feels like I should be doing more. I plan to get on a call with the PM next month to figure out what are some of the things i can do to up keep the property.  Changing filters, checking on the tenants anything like that. If anyone has any suggestions please let me know.  Money is still flowing in. No problems yet.  I think I cant really say if it was a good investment until a few years go by and i dont have any problems.  

@Lance Kamiyama

@Lance Kamiyama

@Lance Kamiyama of course Newbies are welcome.

@Suzy Crawford Ive been to 4 or 5 of these. The meetings are very laid back. Everyone just introduces themselves and explains what they are up to or what they are interested in. It's a good range of people some who have just started thinking about REI and some who have done many deals. After introductions it's open conversation and at the end there is time for networking.

I may miss this one but will do my best.  

Guillaume,

That's great man. Keep Grinding. Whats next for you?

@Brie Schmidt Ive heard your story on the podcast.  What you have done is extremely impressive you should write a book about it.  How were you able to scale so quickly? Did you have access to alot of capital and or connections? 

@Dustin Cook  I feel your pain man. I would really like to own something in LA.  I've always got my eye open, but the prices are insane and I dont have enough experience yet to find those good fixer up-ers.  I looked at a 850sq ft 2 bed 1 bath with a tiny tiny yard in mar vista asking 750k. Very curious to see if that sells.

I ended up buying my first rental instead 3 months ago in Memphis through a turnkey company. Its just the beginning but so far things are great I have a new 2 yr lease. 

Despite what people would advice I didnt go out there. I had enough trust in the team they have. I did "drive" the area for hours on google though haha. Its close to a nice park and a big mall. 

@Joe Villeneuve Have you done buy rehab refi outside of your local area at all? Im assuming your getting this properties at discount and paying cash? I would love to do something like that. Its got to be so much harder to do something like that from a far especially without any roots there to begin with.  

@Charles Moore

 I just completed a deal with Memphis Invest 3 months ago. If you have any questions PM me.  Id be glad to answer them for you. Overall I have had a good experience so far.

@John V.

Hey John

So far things have been great.  My place is rented with a new 2 yr lease. I have a overqualified tenant who is getting a healthy pension income each month.  My 3rd check is coming in this week. Smooth sailing so far without much worry. Let me know if you got any more questions. 

@Chris Ready

 I used Memphis Invest. I sort of stumble on them and did some research and everyone seemed to have great things to say about them as a company.  They are very honorable company and take care of their investors as best they can from my experience.

If your interested in Turnkey . Search for a company in the area your interested in and then search on BP and you will most likely find people who have experience with that company.