All Forum Posts by: Jonathan Oh

@Malik Thomas Depends how involved you want to get. Do you want to make a career in real estate? If so, then I'd get a job in real estate. Work for developers, brokers, investment firms, etc. Look at how they run the business and be a sponge. While you do that, practice analyzing deals on MLS and be proactive on learning. It's an exciting and rewarding journey.

@Ryan Carter Analyze the macros the members above mentioned to pick a market. After that, find an investor friendly agent. They will be huge if you manage remotely. Also, ask multiple property managers to get a feel for where the good areas are. 

@Micah Ng Being in a historic town shouldn't be much of an issue. The city may require you to maintain specific standards like architecture. But as far as the guts of the house (plumbing, flooring, etc.), I don't think it should be an issue. One thing I would consider is the age of the house. Your numbers for the most part look fine, but you won't get a full idea of what needs to be upgraded until you check it out.

@Bukka Levy Majority of people investing in turnkeys are busy professionals who don't have the time to build a team and run the show themselves - so why would they spend the time to go on BP and spread positives about it? They have better things to do than argue against the people who are against it. And like a lot of the replies are stating - the people that are bashing turnkeys are probably doing it because it tends to bring smaller returns than the strategies they use. One of the most common reply to what people should invest in is - 'it depends on their preference'. Same thing with turnkeys. It depends on the investor whether it is a good solution or not.

@Natalia Avalos Not a big issue at all! This is why it is important to set aside reserves. You will run into issues like this whether it's turnkey or not. Expect more of these moving forward.

 Good point. It probably was a subjective answer that I got. Thanks!

@Chris Mason Are you sure you can HELOC on an investment property? I was always under the impression that it was extremely difficult to do that?

@Dan Hall Where in Cali is this duplex? If it's in a great location, I'd keep it. There are other ways to invest in the Midwest besides selling/exchanging it. If you're cash strapped consider a cash out refi. Also, be careful of properties in the 60k range and under. Looks amazing on paper, but rarely pens out due to the quality of tenants. If you do end up picking up properties in this lower pricer range, do you're DD. Not just on the property, but the market and immediate neighborhood. Good luck!

@Dennis Nguyen I've purchased a couple turnkeys myself so I am familiar with the process. While it is important to do your research on tk companies, I think many investors get carried away by trying to find that perfect company with a perfect track record. You won't find that. Chances are if you dig hard enough, every tk company out there will have an unhappy customer because their investment did not go as planned. I would recommend that after you find some tk companies you trust, focus on the deal. Do your DD and make sure the property fits your criteria. Turnkeys are not 100% hands off, but it is much more hands off than trying to do everything yourself. If you need some guidance feel free to reach out to me. Good luck! 

@Benny Morfas Way too many red flags. Just the fact that you know its a D neighborhood and is one of the most dangerous areas should tell you that is a no deal. Stay clear from this. Also, I see some BP members here advising you to stay local, but I'm not sure if they realize you're based in Los Angeles. It's very hard to find good cashflowing properties here. I know dozens of investors in our area who made oos investing work, so don't be discouraged.