All Forum Posts by: Dan T.

 Talked to him on a couple occasions and he's awesome to work with. Nice to chat with someone with such passion for what they do!

Thanks for the heads up - using Premier (REI's in house PM) is the main reason to purchase a property from them. The only way to get properties under their management is to purchase it from them. Yes, fee is 10%, drops to 9% when you get up to 5 properties with them. I'll keep "Renter's Place" in my Rolodex should i ever run into an issue.

I've touched on this but I look for $200-$300 in cash flow AFTER mortgage, taxes, management, vacancy and maintenance with 25% down. Pretty easy to find this with a substantial down payment. These numbers are hard to meet when limiting down payments. COC has not been impressive in my TK my experience - i ignore it. I am after debt pay-down for long-term equity and whatever appreciation bonus comes my way. Cash flow is gravy - depreciation is amazing.

If i ever get to BRRRR, i'll worry about COC.

 I don't actually look up grades: A, B, C, etc... I like other metrics. I look mostly for good school districts and slightly higher end properties. By definition, this would likely land me in A and B neighborhoods but didn't ask for either neighborhood "grade". Schools in both are 8/10 or higher and I stick to 3 Bed/2 bath or larger within these school districts in an attempt to attract a family looking for good schools - I think this will net me the renter that will take care of my investment but time will tell.

 Hey Doug,

Yup, not sure how i forgot to put that in - i'll edit the post and add it but that is including $1,213/year in taxes. That picture is actually taken at the short-course track in Vegas (Speed-Vegas). I work for a company that develops & manufactures performance suspension systems for Heavy Duty straight axle trucks. I had the opportunity to take my rig around their course for a couple days - one of the coolest experiences to date.

That said, we're in Southern California and are situated right between Ocotillo/Glamis and JV. I spend a TON of time out there; Johnson Valley is our main proving ground. We're not into the racing scene but do quite a bit of Chase-truck and support vehicle modification for the racers. Most notably, we built all the Motorsports Safety Solutions fleet with our products. They are the first responders at all Best In the Desert Races and our products allow them to take their 10,000lb. rigs to the race course at speed for the shortest possible response times.

 Hey Doug,

Yup, not sure how i forgot to put that in - i'll edit the post and add it but that is including $1,213/year in taxes. That picture is actually taken at the short-course track in Vegas (Speed-Vegas). I work for a company that develops & manufactures performance suspension systems for Heavy Duty straight axle trucks. I had the opportunity to take my rig around their course for a couple days - one of the coolest experiences to date.

That said, we're in Southern California and are situated right between Ocotillo/Glamis and JV. I spend a TON of time out there; Johnson Valley is our main proving ground. We're not into the racing scene but do quite a bit of Chase-truck and support vehicle modification for the racers. Most notably, we built all the Motorsports Safety Solutions fleet with our products. They are the first responders at all Best In the Desert Races and our products allow them to take their 10,000lb. rigs to the race course at speed for the shortest possible response times.

Yes sir, I am aware. Also trying to maintain a solid credit score and DTI in the process - thus not wanting to max out my current capability. As I said, time will tell!

Hey John, My strategy is fluid. For now, interest rates are low and I have capital to invest so i am rolling with the punches and maximizing my investments. My initial plan is to get to 5 properties + my primary residence. That'll put me at 6 total mortgages in my name. One i am there, i'll see what i have made via cash-flow and decide if i want to continue that strategy and build a larger portfolio or work to pay off one mortgage a time and add as I pay off. I am choosing all higher end properties in the $140-$200K area to maximize my portfolio pay-down vs cash flow but this strategy may change as i become more experiences and diversify my real estate holdings.

In contract with REI on #2 after a stellar experience with #1:

https://www.biggerpockets.com/forums/311/topics/834163-rei-nation-memphis-invest-case-study-yukon-okc-ok

Well, my first thread is and continues to be a success. I made it with the intention of educating prospective buyers on REI Nation/Memphis Invest. I am not affiliated with this company in any way - I wish i was so the numbers looked a bit better than they do. That said, i figured there HAD to be investors out there in my boat - they make their living in their industry and have busy private lives (i have 2 kids, 2 year and 9 months so free time isn't a thing for me). I wanted to invest in real estate and honestly, do as little as possible once i qualified the investment.

I looked at BRRRR for years and never pulled the trigger - I've managed remodels on my primary residence WITH ME LOCAL to the job being done in Southern California where there's no shortage of great contractors and felt the ease of the strategy was grossly overstated. The "allure" of the turnkey model hooked me. It's a dangerous bite as Mr. Clothier said it best, everyone uses the term "turnkey" but there's no actual standard to which those using the term adhere. After TONS of research, i hooked up with REI Nation in my first property in Bartlett, TN. That experience can be tracked here:

https://www.biggerpockets.com/forums/311-buying-selling-real-estate/topics/803291-rei-nation-memphis-invest-case-study-barltett-memphis-tn?page=1

I could not believe the amount of colleague requests and posts i received from like minded individuals. Many are eaten alive by real estate professionals or long-time, seasoned investors on these forums for considering the TK model. Everyone invests differently based on their goals and available time. Hell, maybe not available time but time they're willing to devote. I am posting for these people as i now realize how many are out there and and love that I'm helping people that were in exactly my shoes 1 year ago.

Amidst all this "COVID" craziness came another deal that fit my criteria from my Rep at REI - I analyzed it and put it under contract. This property is in Yukon, OK.

Purchase Price: $145,000

Rent: $1,200, 2 year Contract - Tenant in place as of May 1st.

Vacancy - 4% - $48/m

Insurance - $1,025/y

Mgmt - 10% - $120/m

Maintenance and Repairs - 4% - $48/m\

I will be putting 25% down, 4.25% interest rate and anticipate $281/m in Net cash flow factoring in the above. I will have this populated in an account with a $5,000 base balance (CAPEX contingency fund, if you will) and will decide what to do with the cash flow at each year end. I have deployed the same strategy on my first property in Bartlett, as well.

I'm all ears to any questions/critiques! I am happy to post REAL numbers, scope of work with which REI Nation Provided me with before/after pictures, etc. on request.

Happy Investing!