All Forum Posts by: Christapor Mikaelian

@Christapor Mikaelian my situation for "turnkey" is not the traditional way of obtaining it, so that would be a little skewed for an answer, but I do know that there are companies out there that have a portfolio of single-family residences that they have as turnkey with good tenants in place, all rehab is complete and the home is updated, and the property managers are in place and things are stable.  I ran into a company at a local meetup here in CA and they have about 150 homes, with about 30 currently ready to sell.  I can send you their contact information, if interested but those properties are scattered throughout the Midwest and Southeast.

For vetting a team out in NC, I lived out there while in the Marine Corps, and I just interviewed many, worked with many, and got recommendations from people that I trusted out there, and so far they seem to really be taking care of things, so I hope it continues.  Like anything else (shopping loans, brokers/agents, etc.), you should interview many and make sure there are good answers to the things that are important to you and that they come from a reputable source--if you have one in the area.

Same thing goes for partners.  There are many reels, posts, and threads that BP puts out on partnering.  The common theme is that partners' goals should line up as closely as possible.  And obviously there needs to be real, established trust.  So, this does not have to be someone that you know literally today, but I would not personally partner with someone without knowing them for at least a while.   But, maybe there are people on here that will comment and have a differing opinion--and that's okay; everyone has their own preference and what works for them.

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REALTOR® CalDRE: 02221003 | CA Bar: 322013

Hi Christapor, 

I really admire your story and why you are looking into investing in real estate. Being proactive and helping your mom really is amazing. 

I am an investor and real estate agent in Phoenix, AZ. AZ's overall rental market is a bit rough at the moment to find any cashflow. A combination of prices rising tremendously and the high interest rates make it difficult. BRRRR'ing in AZ is tough at the moment as well. Without finding an off market deal or doing a major rehab/addition, it will be a difficult strategy to pull off.

Overall, cash flowing from day one might be a tall order. However, if you feel you have two years to work with, that definitely helps. 

Having said that, AZ is a hot market and has very strong landlord laws (in favor of the landlord). I find that a lot of California investors generally do well investing in AZ, but it takes patience and a strong team to find the right deal and execute.  

Hope this perspective helps!

Hey, @Christapor Mikaelian,

Orange County definitely has some pricey real estate.  However, if you are able to partner with someone and provide sweat equity, you could get in with little or no money.  However, with you working full-time, that may prove difficult.  If there are other parts of the country that you know well, or have contacts in, that may be a good staring point to see if you can invest out-of-state.  I live in Southern California and have rentals in NC, and tons of people on BP have portfolios out of state as well.  Many believe that you should invest in your backyard first, but if you have a trustworthy team, are in a market you may know because you lived there at one point or something, and it can be a turnkey property, that may be the way to go.

Having a turnkey property for your first property may be like investing in an index fund--safer and conservative. Once you get your feet wet, then maybe you can transition into the BRRRR method.

Others may have differing views here, but this is just my two cents here, and would be happy to expand more if you ever wanted to.

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REALTOR® CalDRE: 02221003 | CA Bar: 322013