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All Forum Posts by: Joseph Crunkilton

Joseph Crunkilton has started 23 posts and replied 310 times.

Post: Real Estate Investor Enthusiast

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

@May Thompson Welcome! Wholesaling is low barrier to entry and extremely competitive. I wholesaled for 6 months making 100+ cold calls a day. Only ended up with one contract. It's not really REI and more of marketing.

What I'd recommend, is network on here and locally. Wherever you're trying to buy. That way you can find deals, partners, and anyone you may need on a team. Personally, I found all strategies more appealing than wholesaling. 

Post: I've got $500k in cash, how should I invest it?

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

@Account Closed Shoot, you're set! Buy 4 rentals in the midwest cash and enjoy the 4k passive income. Congrats. 

Post: Turnkey and Cashflow Questions

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

Hi @Jessica DiPonziano, great questions. I wanted to jump in since I've bought a handful of turnkeys as well as using the BRRRR strategy. Turnkeys actually have performed better for me and have been way less work. If you're interested, I'd recommend connecting with @Zach Lemaster. He's been a great mentor to me.

What I love about turnkey is the time commitment. It takes very little legwork since the provider will typically have a team in place. When I was doing BRRRR, I spent months building teams, deal sourcing, negotiating, managing etc. In the end my returns were less than I was getting with my turnkeys. Granted, I'm not a highly skilled investor but I figured it was relevant to your situation.

Happy to help if you have questions. 

Post: Want to start investing but don't know where

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

@Marco Schoett I'd recommend connecting with @Zach Lemaster. His team helped me pick up my first few rentals and made the process simple and efficient. It's overwhelming when you're starting out. Hopefully they can help you shorten the learning curve like they did for me. 

Post: LLC vs Sole Propietorship for rental business

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

Hi again, Mike. If it's your first property, you don't need one. I'm not a lawyer, but it's a lot of paperwork and yearly fees. Plus, you'll have to guarantee the note personally so there are some loopholes to the LLC protection. This is all things I've heard, again, as I'm not a lawyer.

I like @Scott Matthew C. answer, but I'd avoid all the paperwork and hold them personally until I have sizable assets. I have an LLC for rentals but that's only because I brought on some partners to help me build my door count.

Post: My plan to get started with investments

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

@Oscar Meneses

Great plan. I'd recommend connecting with @Zach Lemaster and seeing what his team has to offer. They've helped me with my first few rentals and I've been able to do it all remotely.

I worked the BRRRR strategy for over a year. I was able to get better returns with their turnkeys. It saved me time and earned me more money. It's good to fly out and everything, but they can also connect you with solid teams remotely. Feel free to shoot me any questions if I can help.

Post: Turnkey Rentals and Legal Review

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

I can speak to this, as I've bought multiple turnkeys. You typically have 48 hours to sign the contract. Obviously it will depend on the seller, but I'm sure they would grant an extension if you had some legal concerns about the contract. In my experience, they're standard RE buyer's agreements. They don't have binding language and you have the same due diligence options as you would on a standard transaction. I'd be highly concerned if the provider was attempting to lock me in.

But it's up to you and you need to feel comfortable with your purchase. I'd recommend connecting with @Zach Lemaster. He's been a great mentor for me and helped me pick up my first few properties. 

Post: Looking for Kansas City turn key property companies

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

@Jennifer Clark

Hi Jennifer, I can speak to this. I own a few rentals out in KC and have experience with a lot of different providers. I would recommend connecting with @Zach Lemaster. He's helped me with the whole process. I'd also recommend Renter's Warehouse or Key Realty is property managers. Both highly skilled and professional. 

Post: St Joseph, MO 64503

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

Hey Walter, I own a few rentals in KC but not St. Joe. Definitely make sure with turnkey the house is appraising at least for what you're paying for it. Don't start with negative equity. And I would definitely do some due diligence on the PM company before agreeing. Having a bad PM is a serious pain.

@Zach Lemaster has some solid teams out in the KC area if you're ever looking for more deals that way.

Post: Creating Passive Income for Senior Parents through REI

Joseph CrunkiltonPosted
  • Rental Property Investor
  • Oregon City, OR
  • Posts 324
  • Votes 780

Hi Anya, 

I've used RTR as well and had a good experience. Just a heads up, no REI is passive unless you're doing REIT's. There's always a bit of work on your end although RTR makes the process smooth.

I bought my first property for 20k down. 30k is close to enough to get you into one. I bought it right out of school while living in a small apartment. You don't need to be an expert, the best teacher is firsthand experience.

Let me know if I can answer any questions!

@Zach Lemaster