All Forum Posts by: Gaurav M.

I'm making about 9% lending in LA and OC area.

 Agreed! I should have mentioned that its not faint of the heart. Also the emphasis on great property manager and contractor. 

Yes there are many things that can go wrong. I did long distance rehab on a few properties in Phoenix area a few years back. I guess I was lucky that it didn't turn into a nightmare. But I also did have a great Property Manager and contractor. Someone whom I could trust to not rip me off.

Agree with the comments here that turnkey has really no meaning. To me it is really no different that buying a property directly from the MLS. If you have a good agent, property manager and contractor in place, you'd rather not go with turnkey. Not to mention the premium that you'll pay for turnkey. Lot of people think turnkey is "hassle free and passive" investing. I don't see how. It still takes the same amount of time and effort (if not more) to do your due diligence.

I have nothing against turnkeys. I know investors who have been happy with their turnkey experience. You just need to analyze every deal closely and figure out if its the best investment for you. Not every turnkey is a great investment. 

@Spencer Sutton has some good tips on his blog for out of state investors buying turnkey. 

 How do you go about managing the rehabs from a distance? Do you have boots on the ground who manage this for you? 

@James DeRoest

I completely agree with you that it was a once in a life time opportunity in the years 2009 - 2012. That exactly the point I was trying to make. All my investments from that period have done really well. But I'm not so sure that I can say the same for about investment that I would make today. I would most likely not lose money, but I would have to settle for mediocre returns. 

Again every market is different and there are still plenty of opportunities in Florida. Just not in my local market. Again I limit myself to the areas I invest in and the class of properties I invest in, especially when investing out of state. 

Like @Jay Hinrichs mentioned a local investor could probably get 20% COC, but that is difficult for most out of state investor seeking passive income. It requires a truly savvy investor like Mr Jay himself to find the best deals nationwide.

I think there are still great deals out there, but they are much harder to find especially for some like me who hasn't been in the game for too long. Also most deals with higher COC that I come across are lower quality products.

Another comment I hear very often is that market XYZ is 50% off peak right now. But I believe that in many markets that was an artificial peak and it may take a really long time (if ever) to get to that peak. So I believe it is meaningless to compare to peak prices. At the same time we may never even see a crash like 08 -11 in this lifetime. 

If I do come across good deal that pass my criteria (somewhat a conservative one), then I'll jump right on it. In the meantime I'm just focusing on short term lending and make anywhere between 10 - 15%. 

 I agree that there wont be  huge crash like 08 to 11 for a long time. Like you said it'll probably go sideways for a while, except for maybe SoCal and Bay area. 

I do find it much harder to find deals like 3-4 years back. Perhaps this is the new norm. I haven't been in real estate long enough to know what is the norm. 

People seem amazed when I tell them I passed up a deal, just because I think its not good enough. But what is good enough is really subjective. If I could find deals like 3 years back, I'd go crazy buying up all I could. I do wonder at times whether I need to loosen up my criteria a bit at pick up whats still available out there. 

Any opinions about Atascocita South neighborhood in Houston? I'm specifically looking for information about 77346 area feeding into Atascocita Middle School. My general impression is that it is a decent middle class neighborhood with good schools. I'm trying to analyze the desirability of that area. I'd like to hear what others think about that area.

I'm seeking information about Atascocita South Subdivision in Humble, TX specifically the 77346 area feeding into Atascocita Middle school. It seems like a good middle class neighborhood with good school and good incomes. 

I'm trying to find out the desirability of the neighborhood. Anyone with good or bad experiences with that subdivision? 

3 Single Family Properties for sale in Las Vegas. 

• All these properties are currently rented with long-term tenants. 
• No renovation is necessary, and you will have cashflow from the date of purchase. 
• All properties are currently managed by Best Management. 
• All properties come with a buy-back guarantee for full purchase price after 90 days if any buyer is not satisfied. 

The details are as follows:

3532 Diamond Belle Ct., Las Vegas, NV 89129  

3 bedroom 2.25 bath 1412 SF single‐family detached home built in 2004

Asking Price : $147,500

Rent : $950

4262 Valley Spruce Way, North Las Vegas, NV 89032

3 bedroom 2.25 bath 1440 SF single‐family detached home built in 1992

Asking Price : $157,500

Rent : $1,000

5410 Pomeroy Circle, Las Vegas, NV 89142

3 bedroom 2.25 bath 1260 SF single‐family detached home built in 1983

Asking Price : $127,500

Rent : $927

Feel free to PM me if you are interested in one or more of these properties.

P.S. : Buyer to perform all due diligence.  I have no incentive or financial interest in selling these properties. I will not make a dime on these transactions.