All Forum Posts by: Johnny Chen

Hey thanks everyone with the deal analysis! It's made me realize that in my situation I'm still better off just using a service like FundRise or RealtyShares as I'm honestly over my head with a lot of this. I'll keep listening to the bigger pockets podcast to learn more before I invest in a deal. 

I was looking to buy a turn key rental property which lead me to Matt Bowles and Maverick Investor Group, but after speaking to him, he mentioned that they are now offering turnkey Buy-Then-Renovate properties as well which sounds even better.

I'm out of the U.S. most of the year but I love the idea of the BRRR model after hearing it on the Biggerpockets Podcast and think this would be the easiest way for me to get in while living overseas.

What do you think the downsides and potential downsides are of buying a deal like this one at West Atlantic Street Philadelphia, PA 19140

Details: 

What do you think about deals like this? What are the possible downsides?

Looking at the property, neighborhood and comps, it looks like I'd be overpaying, but with the builder guaranteeing they'll buy back the property if it doesn't appraise for $80,000 or more ARV and guaranteeing the rent and numbers, it looks like the cash flow is great.

I love that it's turn key. I love that I can refinance and repeat. And the model seems perfect on paper, and I'm okay overpaying a little for the convenience as long as the cash flow makes sense like this one.

Should I do it? Would you if you were in my situation?

Thanks for your help!

 

Would a company like Realty Shares be exactly this, just online? 

I'd love to do the same but want the process to be as easy to do and hands off as possible. 

Any ideas what the downsides of something like this would be?

Here's an example of one of the deals: 

Hey @Chris Grenzig that was super helpful info. I can't believe I forgot about CrowdStreet as they were on the podcast as well. I'll check them out, thanks again for the inside scoop.

So far there is: 

CrowdStreet

RealtyShares

FundRise (Growth eREITS)

That i'm looking at. Any others would be appreciated. Thanks! 

Hey thanks @Lane Kawaoka, I got so many people trying to sell me something now.  

But I think the best for me to do would be to start with something like RealtyShares or FundRise. 

Anyone know the pros and cons or downsides of using these two? They seem like the perfect solution for my position. 

Thanks for the replies so far. I think syndication sounds like exactly what I'm looking for. I should have done this sooner as I heard the CEO on the podcast months ago but I just started looking at RealtyShares as an option and am thinking that aside from buying and holding, it sounds like the best option for my situation?

Any advice on:

1. If my buy and hold strategy is even a good one? (The goal being to have the tenants pay off the loan, and eventually own the apartment building free and clear to cashflow)

or

2. Investing either RealtyShares, or FundRise's Growth eREIT (or another platform if anyone knows of one) which meets the location independent/hands off aspect I desire.

Thanks! 

Hey everyone, I've saved up enough to invest in my first deal and would love your suggestions. I want to own an apartment building with the plan to be buy and hold, while letting the tenant pay off the loan so I can eventually own it free and clear and have it cashflow. I have between $300-500K to invest but want to be completely hands off as I value my location independence.

I'm looking for some type of online platform where I can pool my money with other investors, and be completely hands off.

So far the only thing I could find that's even close is Fundrise's Growth eREIT. But that's not exactly what i'm looking for as I'd rather buy and hold than have the plan be to sell it off in 5-7 years. Any pros and cons of using them vs. another platform?

I'd love to find some type of online investment club where everyone else has as much skin in the game as me so I know they're not going to take risky deals. Any ideas what that would be?

Any pros and cons of what I mentioned above or alternative solutions would be appreciated. Thanks everyone!