All Forum Posts by: Dock Newell Jr

Hi Will,

It's true that certain markets may be more conducive to turnkey investments due to factors like affordability, rental demand, and property management options. The Midwest, for example, has been a popular region for turnkey investments.

Given your limited time, a turnkey property might be a suitable option to start building your real estate portfolio while maintaining your current job. However, it's essential to thoroughly research turnkey providers and markets to ensure you're making sound investment decisions.

Ultimately, your choice may not be an all-or-nothing decision. You can consider a hybrid approach, where you invest in turnkey properties initially to build passive income and then transition to more active BRRRR investments as your time and experience permit.

For example, you could buy an "okay" property that just needs new cabinets, flooring, or landscaping. This way you don't need to put much time into it and when you are done rehabbing you can refinance to get your money back.

Quote from @Tomoko Hale:

Quote from @Dock Newell Jr:

"ADU" stands for Accessory Dwelling Unit. An ADU is a secondary housing unit or separate living space on the same property as the primary residential dwelling. ADUs are often referred to by various names, including "in-law unit," "granny flat," "backyard cottage," or "secondary suite."

The primary purpose of an ADU is to provide additional housing on a single-family residential property. ADUs can come in different forms, such as a detached cottage, a converted garage, a basement apartment, or an addition to the main house.

Before purchasing a property with an ADU or historically reserved property, you should consult with a local real estate agent or attorney familiar with the local regulations. You can guide any restrictions or compliance issues. Understanding these factors will help you make an informed investment decision.

 Thank you so much!

 No Problem. Here to help if you need it!

Insurance rates!!

"ADU" stands for Accessory Dwelling Unit. An ADU is a secondary housing unit or separate living space on the same property as the primary residential dwelling. ADUs are often referred to by various names, including "in-law unit," "granny flat," "backyard cottage," or "secondary suite."

The primary purpose of an ADU is to provide additional housing on a single-family residential property. ADUs can come in different forms, such as a detached cottage, a converted garage, a basement apartment, or an addition to the main house.

Before purchasing a property with an ADU or historically reserved property, you should consult with a local real estate agent or attorney familiar with the local regulations. You can guide any restrictions or compliance issues. Understanding these factors will help you make an informed investment decision.

Quote from @Brandon Flores:

Hi there. Where I am located in the Antelope Valley would be a good place to buy rentals you can pick up a 3 bed 2 bath house for anywhere from 300-500k. The Antelope Valley is a great place to purchase rental properties! Not only because the military plant 42 alongside NASA, Northrup Grumman, and Lockheed brings in people that come and go out of the area, but also about a little over an hour from the center of Los Angeles. Great place for families just starting out and needing a rental home for a little while. Whilst also being in your price range for a home. This area is starting to grow as freeways expand and vacant lots of land prices are starting to gradually increase. Hope this helps :)!

Thank you for sharing information about the Antelope Valley as a potential area for rental property investment. It sounds like the Antelope Valley offers a mix of affordability and economic stability, which can be appealing to investors looking for rental opportunities. Are you wholesaling this area?

Quote from @Brandon Flores:

Hi there. Where I am located in the Antelope Valley would be a good place to buy rentals you can pick up a 3 bed 2 bath house for anywhere from 300-500k. The Antelope Valley is a great place to purchase rental properties! Not only because the military plant 42 alongside NASA, Northrup Grumman, and Lockheed brings in people that come and go out of the area, but also about a little over an hour from the center of Los Angeles. Great place for families just starting out and needing a rental home for a little while. Whilst also being in your price range for a home. This area is starting to grow as freeways expand and vacant lots of land prices are starting to gradually increase. Hope this helps :)!

 Thank you for sharing information about the Antelope Valley as a potential area for rental property investment. It sounds like the Antelope Valley offers a mix of affordability and economic stability, which can be appealing to investors looking for rental opportunities. Are you wholesaling this area?

Hi Joel,

Is this your first investment property or your own home? One possibility is a construction loan.

Welcome to the Bigger Pockets community! It's great to hear you're enthusiastic about expanding your investment journey in Colorado. Real estate investing can be highly rewarding but also involves risks. You can build a successful and profitable real estate portfolio in Colorado Springs and Pueblo by doing your homework, seeking advice from experienced investors, and staying committed to your goals. 

As you can see the community is great. Denver and CO is an area I'm looking into as well. Let's put something together. Partnerships??

@Noah Bacon @Brittany Guimond

Hi Michael,

Acquiring HOA (Homeowners Association) management contracts in the North Texas area, or any area, requires a strategic approach and effective networking and marketing efforts. To effectively manage HOAs, it is essential to understand the responsibilities, legal requirements, and Texas state laws and regulations. Building a solid portfolio of property management work, networking, joining industry associations, and establishing a professional online presence is also crucial. Direct outreach to HOAs, hosting educational seminars, and using online advertising platforms like Google Ads or Facebook Ads can help build trust and demonstrate expertise. Maintaining active social media profiles can also help showcase property and HOA management knowledge. Collaborating with real estate agents can introduce you to HOA boards seeking management services. Encouraging word of mouth and adhering to professional standards is also essential. Finally, being patient and persistent in acquiring HOA management contracts may take time, as associations often have established relationships with management companies. By following these steps, you can effectively manage HOAs and build a solid online presence. Building trust and a reputation for excellence in HOA management can lead to long-term relationships and referrals within the community. Building a solid reputation and a strong network are crucial to success in this field.

Quote from @Trevor Schmitt:

Nice to meet you, Dock!

I am located in Fargo, would love to grab a coffee with you at some point. Please do reach out if you ever make your way down here.

Curious to learn where you are in your investing journey and where you are headed. 

Talk soon! 

 Absolutely! I have been to a couple of the meetups in the Fargo area. Coffee would be dope. Have you done zoom meetings?