All Forum Posts by: Gautam Venkatesan

Congrats @George P. !!   Do you find it harder to rent out homes with smaller square footage (< 1000 sq ft) or does the basement area make up for the "lack of space" ?

@Kevin M. Rooney so you're getting cash value policies? Can you PM me who you use for insurance?

@Dmitriy Fomichenko should be able to help you out setting up Solo 401K 

@Steven Cacace check out the website http://turnkey-reviews.com/ 

This thread reaffirms the fact that, if you are considering purchasing out-of-state turnkey properties, you really need to go physically visit with the team on the ground (the turnkey operator, the PM companies, realtors), tour different neighborhoods during the day and night, visit the properties or comparable properties before/after rehab to get an idea of the quality of work done, etc. before you pull the trigger.

@Ryne Ray you did not identify the state you plan to purchase turnkeys so I will assume its not TX. If you take out a 30 year loan putting 20% downpayment in 5 years you will still owe close $40K since you have very little principal paydown. You cannot count on appreciation (if it happens great but what if it doesn't??). So given your short timeframe and paying market value for turnkeys your possible exit strategies to turn a profit might be lease option to a tenant buyer (check if its legal in the state you have the property) or owner finance to another turnkey investor to where your monthly cash flow. If you try to sell in 5 yrs, assuming no appreciation, your marketing and closing costs will easily eat up 10% of the sale price.  

Good stuff thanks for sharing! Since you pay cash and take title in the name of your LLC are you obtaining a commercial loan when you refi?

As an accredited investor looking for more passive investments you might consider real estate crowd funding portals or the PPR note fund run by Dave van Horn

@Julie McCoy while you look for your next possible property I would encourage you to network with local property management companies who can assist you with knowledge of the area, comps (rental and ARV), etc. You can find property managers here on BP or trulia/zillow just look for rental listings in the area you are buying. Good luck!

@Nicole B. you can ask the pros on BP for their opinion of neighborhoods you are considering, you should also network and talk to property managers and/or realtors in your target neighborhoods.