All Forum Posts by: Dave Olverson

I started off strong on this message board, and then a few personal things came up, so I was sad to miss the meetup in March, but I will plan to attend the one in April!

Looking forward to it!

@Parul S. - I did actually hear about that. I was considering stopping by. I hope to make it out and see you there!

Hey @Parul S. - I am in the same boat. I have been talking to a company called Vision Equity in Indianapolis and have heard good things on the boards (did a quick search) as well as from a referral outside of BP. Other than that, I am a bit clueless as well.

Thanks @Engelo Rumora - capital growth is definitely not part of my strategy. I think that's a great point you make. That's also an interesting point about making sure to do your due diligence on turnkey companies, not just on the side of their properties and location, but also vetting the property management side of their operation.

Agreed - especially on the alerts. For potential investors like us, I recommend alerts for:

turnkey

turn-key

TK

and perhaps whatever market you are targeting.

Welcome Alex! I am pretty much in the same boat as you are (except over on the other coast in NYC). The people on the boards have been great, so far. I am happy to discuss anything about turnkey investing and hopefully we can both learn a lot from BP!

Originally posted by @Marco Santarelli

Thanks. I literally plan to go in that order and completely agree with your analysis. Indianapolis is a good place for me to start because of its lower costs. After my property there has had time to get up and running, I will start looking at Texas - as you said, I think this will be a good addition for potential growth reasons. And finally, Chicago, which as I see as a bit riskier, with tenant situations that might not be as stable, but once I have those other, more stable properties, moving on to Chicago and the good cash flow there will be prudent given my diversification.

Also - just to be specific, the markets I am looking at are:

- Indianapolis

- Houston

- Dallas/Ft. Worth

- Chicago

And in that order as well. I would like to be diversified in my geography, so the plan is, after a few years to have properties in each of those markets (although, as the landscape changes, I may need to adjust). Again, you can see the diversification you can achieve through Ali's post, linked above.

Sorry - I realized my last post lacked specifics and I thought this might be more helpful.

I have yet to invest in real estate myself, but am honing in on a property. Regardless, I will definitely:

- Choose a market through the advice of networking contacts I have made (and analysis on BiggerPocket's like that post above that @Ali Boone wrote).

- Go with Turnkey. I am looking for positive cash flow without having to quit my job (or my personal life) here in NYC. I also don't need home runs. I have a stable job and I am just trying to hustle to add incremental income, so turnkey fits me perfectly.

- Choose partner turnkey companies based on referrals.

- Start with SFHs. I may look at duplexes, trips, and quads further down the road, but for now, I want to be conservative and be in SFH neighborhoods (start small).

I completely agree with you, though @Kimberly T. - BiggerPockets has been an amazing resource so far. If you haven't listened to the podcast yet, I recommend that as well (although, I am kind of a podcast nut in general).

Thanks to you too, @O'brian Rossi - this has been a great discussion.

Thanks Darren! That sounds great - it is on my calendar for March!

John - great to meet you virtually and hope to meet up in person soon!