All Forum Posts by: Edward Hakobyan

So what you're saying is that if I buy a turnkey for 100k it is very unlikely that property will gain any equity in the future?

Also what if I negotiate for a lower price and do some rehabing, will that in turn raise the property's value?

Maybe I'm confusing refinancing with having equity in the property and opening a HELOC or a home equity loan? Correct if I'm wrong I still haven't figured this part out.

 Would you not want to refinance to get a bit of cash back out so it can be put into another property?

 Great information James. As far as turnkey properties is it likely at refinancing, say 12 months after purchase, for appreciation to have taken place or its pretty risky considering where turnkey's are priced at? 

Awesome information Alina. Thank you

@Taylor L. In your opinion would it make more sense to pay off turnkey properties or get a loan on it?

Hey @Joseph Bridenstine thanks for your response. I will definitely look into that book!

Hey fellow BP members I am a newbie here and to REI. While I have been interested in real estate for quite some time now, just recently have I started educating myself. I live in Los Angeles (gasp) and obviously I don't have tons of money to drop into a rental property here, so I have been looking into the many other options that may be available for people like me. From turnkey, out of state investing, to becoming a real estate agent, and finding really broken down properties to flip, I've been looking into all the options carefully.

I have found that I am very fond of having a passive income with buy and hold properties, which as of this point is the way I envision building my portfolio. BUT the "simple" options like turnkey don't seem like its worth it with the $100-$200 cash flow per month the websites are advertising. I guess my question is are these turnkey properties really worth it for someone like me living in an expensive market? and how likely is it that these properties will actually grow enough equity for me to sell or refinance? (considering our current market)

Another option I am interested in is finding out-of-state boots on the ground to partner with to find me great investment properties. This may be a real estate agent, property manager, or a fellow investor, but someone I can trust. BP members, from your experience what would be the best way to find someone out-of-state and how do you vet your potential partners to finding the best match?

My biggest fear of investing out-of-state would be the fact that I will not be able to be hands on when issues arise. I like to know everything that's happening with my business and investments and the thought of having investments so far literally freaks me out and I haven't even started yet. I'd love to here everyone's opinion!

I will hopefully update you all once I have purchased my first rental property!

Just starting out in REI, looking forward to this event!