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All Forum Posts by: Joseph Santos

Joseph Santos has started 1 posts and replied 10 times.

Post: Should I pay asking price for Turnkey property?

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

I'm not saying to not negotiate.  I was mistaken when i posted about roofstock deals being nonegotiable. The actual way they do it is you can make a bid below asking and wait for a counter or acceptance.  But  the property will still be open to others.  If you make a full price offer and complete their "checkout" then they take it off the market.  For some reason i thought i read something about not being able to bid on certain deals, i must be mistaken or they might have changed thier format (but more likely I was the one to make the mistake.)  

I would defienlty negotiate with any deal be it wholesale, turnkey, ro traditional purchase.  off the bat Roofstock charges certain fees to use there services, so that alone ups the inital numbers as well as PM and any fixes that the property might need.  

The reason i like to browse through them is becasue they are a turnkey provider.  They have a lot of data that is neatly packaged up for people to look at.  But as you know when you start to run your own numbers at a a more conservative rate, their numbers start to look a little inflated.  But it does give newbies and people not familiar with those areas a stepping stone to see if they are going in the right direction.  What i like to do is analyze a few from the TK provider, then go onto other sites to see the market for similarly sized homes in the same neighborhoods.  then compare the numbers and compare.  Hope this helps and clarifies a little.

Post: Should I pay asking price for Turnkey property?

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

i've been askig the samething.  I've analyzed a ton of properties on roofstock, and they are mostly coming in .7 - .9%.  0.9% mostly in the C areas accroding to what my research is saying out side of the roofstock info.  THe problem with that site is that a lot of the "better" deals are non negotiable or better yet they don't allow you to make offer from what i've seen.  There are other companies, but for ease of use and access to anaylze i have been using them.  I grew up in Jercey City and go back evey once and a while.  I am always surprised how downton has changed so drastically.  Let me kow if you have any info about oher turnkey providers out there and i'll do the same.  Maybe we can share some data to see if we are both getting it right?

Congrats Devan.  This is definetly inspiring.  As long as you have the will, you can always make the way!  Your post puts it into perspective that it is good to dream big, but you still have to focus on that first step and all the steps that will get you to that goal.  Thanks for sharing!

Post: Pro Member Feedback Needed!

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Completed and thanks for letting us help with improvements!

Post: New Real Estate Investor in Massachusetts

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Welcome to BP @Wilfrido Sierra.  This site is great and is a wealth of information.  I am in a similar boat as you when I comes to family and how easy it is to get lost on the path to our goals.  @Steve Bracero is a great resource and I'm sure when he gets a chance he will try to reach out to you.  BP is a great way to network and keep yourself accountable.  Good luck with your investments and maybe we can connect.  I am always looking to add to my network.

Post: Not Believing BP's Rental Calculator

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

@Ryan M. and everyone else.  Thank you for posting the same exact question that I have been battling.  I know the market is reaching it's peak so hopefully the continual analysis of deals good or bad will just give me more experience for when that great deal comes along.  I like to 100x rule that @Cody L. posted about.  Might have to add that to the analysis.  Thanks all for the great insight and different perspectives.

Post: Newbie In Massachusetts

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Welcome to BP!!  Good luck with your education and investments. 


Best.

Joe

Post: New Member From Boston MA South Shore area

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Thanks for the warm welcome @Dmitriy Fomichenko.  I just took a look at your website and it has me curious.  I'll have to delve into it a little deeper after work.

Best.

Joe

Post: New Member From Boston MA South Shore area

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Thanks all for the warm welcome!

Post: New Member From Boston MA South Shore area

Joseph SantosPosted
  • Weymouth, MA
  • Posts 10
  • Votes 5

Hello BP community.

My name is Joe Santos.  I am currently located in Weymouth, MA a short ride south of Boston proper. 

I happened upon the BP podcast about a month ago and got hooked. I am trying to get my bearings with Real Estate Investing. I have no experience with real estate except for my current residence, a SFH. I have a full time W-2 job at an Ivy League University as an Executive Sous Chef. I might not be able to offer much along the lines of real estate experience , but I can make you an awesome meal.

My goal is to learn as much as I can and in the near future take the plunge with a rental property and grow from there.  I am looking to play the long game and invest in real estate to secure a future for my wife, and my children.  Any and all help would be greatly appreciated.  Hopefully, one day I will be able to help the community as well. 

Thanks to all in advance.

Joe