All Forum Posts by: Gerardo Dominguez

@Account Closed  A turnkey investment only works if you have a lot of disposable income (to pay for the down payment or in full) and a great property management company.  And of course, the assumption is that the company you're buying from did a great job w/ the initial rehab so that won't be an issue for you, the new turnkey owner.  For the time being at least I don't really have any interest in buying turnkey.  It seems like you do.  Are you planning on saving up to buy a turnkey?  Have you found a good turnkey company that you trust?  

@Eric Jamross Welcome to BP!  Check out the podcasts/ articles on here for wholesaling.  You need to decide who you're marketing to and where.  Also, you might want to reach out to @Michael Quarles, he's well known on this site for his content knowledge on all things marketing.  Good luck!

@Conner Snodgrass Welcome to BP!  If you're in a position to buy a good house hacking home now, I think that's a great way to start.  The mortgage rates have been historically low for quite a while now so there's no guarantee they'll still be this low in 2017/2018.  Also, since you're going to be there for 1.5 yrs, that's pretty close to meeting the 2 out 5 years you need to live in a property to avoid paying capital gains tax.  Maybe you hang back for another 6 months before relocating so you can meet the full 2 yr requirement.  This way you can have the option of selling it without taking a big hit from taxes.  If you rent it out after you move just make sure you have a good property manager in place.  

Keep us posted.  Good luck!

@Max T.  I'm sure it is embarrassing for people to admit when they fall for any sort of con.  But I'm glad there are people brave enough to openly discuss it.  Those type of "sob stories" could potentially help other people from being a victim.  It's like looking up reviews for a company before doing business with them.  You don't ever want to be the one that has the negative experience but it certainly helps to get a heads up from those who have.

@Henry Williams  Welcome to BP!  You are absolutely in the right place to learn.  Check out the link below.  I think that's a great way to get started.  Good luck in your investing!

https://www.biggerpockets.com/courses/a-beginners-...

It may sound familiar but here's a link to a post from a brilliant man on BP.  I think it'll be helpful ;p

https://www.biggerpockets.com/forums/311/topics/287579-hello?page=1#p1870074

@Jeff Fleis  Welcome to BP!  Make sure to take advantage of the "Find Members" tool here on BP so you can find like-minded local investors.  Good luck in your investing!

@Derick O.  Congratulations on closing your first deal!  Thanks for sharing and good luck in your future investments  :)

@John Baker  It's a negotiation just like any other.  So figure out what would make you comfortable and make sure that makes its way into the contract.  As far as the actual payments, make sure to make them in draws.  This way you're paying the contractor in installments as the project meets certain milestones.  And then you don't pay the final draw until the work is completely finished.

@Andrea Green Welcome to BP! I'm glad to see you're putting an emphais on educating yourself. I definitely think that's the best way to start. Make sure to take advantage of the "Find Members" link on BP. And look around online for local REIA's to meet local investors. Good luck in your investing!