All Forum Posts by: James Toudy

@Rob Mcclellan That would be great, would you prefer to send to me in DM? 

Thank you!

Thank you, @Jason Bott - helpful insight.

Hi BP,

Looking for suggestions/connections for rental property insurance. Have a policy I'm happy with on Rental #1, but after an unpleasant interaction with a "sales professional" from that company for Rental #2, I'm now shopping for both the new property and the existing. 

Also, is it better to go through a broker, who has access to multiple carriers, or directly to the source myself? 

Thanks,

James T. 

@Alyssa Dyer I agree, hear it often, and yes, ambitious. Do you own property in the Bay Area?? 

@Matt K. Thanks for the advice! 

Thanks @joevilleneuve Good quote! 

Just checking in to share that I made my first offer on a SF property in Georgia this month on the 8th. It was listed at $165K, I offered $150K. Due to other offers they raised it to $169K, I resubmitted an offer at $155K, they then came down to $168K. I submitted a final offer at $155,499K.  I ran the numbers using the BP calculators @ $150K, $155K, and $160K. Any higher and it would not meet my criteria for cash flow and cash on cash. ($250 per mos and 10% COC)

I learned that with the numbers and due diligence, it removes the emotion. It's free to make an offer, and I need to make more offers to win a deal that works for me. I did my homework, knew where I needed to be, and did not let the excitement and inexperience lead to paying too much. I also learned it's probably advantageous not to use round numbers when making an offer, for example... $151,346K VS $150K. 

I'm excited to be learning the steps, and process to be a successful investor, and not use up my hard earned capital on deals that don't meet my criteria and move me closer to my long term goals. Excited to post more of my process to successful long term buy and hold! 

Thanks to everyone I've learned from via the podcast, forums and great books! 

@Timothy Myshrall Thanks so much for the response, I'd love to connect and chat a bit more. I will send you a DM to find a convenient time. 

Also, can you tag me in or direct me to the post you are referring to in the forums? 

Thanks,

James 

@Neil Kamdar Thanks for the reply, not sure who Khemaro is, but thanks for the response. 

Hi BP,

Have any of you bought any TurnKey properties through SmartLand, and willing to share your experience? I've search the forums and don't see any comments or referrals. Thanks! 

James