All Forum Posts by: Jonathan Rivera

Hey Jonathan, I'm personally not a fan of the turnkey model. It's just not for me and my goals.

You hit the nail on the head... there's no equity when you buy like this and you're paying up for convenience. But if you understand that going in and it works for you, it can be a solid way to get started.

I do BRRRR's in Detroit from California and have a great team there that I work with. I prefer this model because you're forcing equity and creating wealth from the start.

I like turnkey for house hacking. To live rent reduced, net 0 or potentially cash flowing positive is attractive so I can focus on other things. You will pay a premium, but stabilization is good. For some, stabilizing a property and learning the rental path can be difficult in tandem, so for house hackers I say go turn key. Turn key also works for investors that are absentee if their goal is to park money/defer on taxes. It just depends on your strategy. 

@Mimi Lieder

For out of state I would look at private lending. For this you need eyes on property but do not have to deal with contractors or managing it from afar

When you say private lending, are you speaking on lending money to people in general?

Purchase well situated property in high barrier of entry markets. It may not lead to the best cash flow but it's the safest acquisition parameters. I am afraid if you are chasing cash flow and associate cash flow with lower risk, you will wind up purchasing in a lower barrier of entry/lower cost market where cash flow may seem better on the surface but the real estate is riskier unless the market experiences significant appreciation.  

Tough one to answer without doing a deep dive. For me, I'd try to find a market that you can find a move-in ready home with potential to appreciate and cashflow. And if you have the budget for it, I recommend furnishing the rental because it will increase the income you can make on it. And I only say move-in ready because it reduces the risk of issues with contractors, repair costs, etc.

Quote from @Jonathan Rivera:

Hey, My name is Jonathan Rivera & I’m from NJ. Im currently a semi truck driver, I’m 32 years old & I want to connect with investors who invest remotely or even here if it makes sense . I know that NJ is pretty expensive & isn’t landlord friendly for the most part . My goal here is to able to come up with game plan, learn & implement information that is given..

Any thoughts on what I will need to invest remotely. What resources i will need in my corner to be able to invest remotely? My plan is to find discounted properties & do the BRRR strategy & potentially have section 8 tenants.

I recommend you read this article on OOS investing. It explains the importance of creating your core four. You will need to get a local, rockstar Realtor, contractor, lender, and property manager.

https://www.biggerpockets.com/blog/core-four-real-estate-tea...

I invest locally in Columbus, Ohio

Quote from @Jonathan Rivera:

Hey, My name is Jonathan Rivera & I’m from NJ. Im currently a semi truck driver, I’m 32 years old & I want to connect with investors who invest remotely or even here if it makes sense . I know that NJ is pretty expensive & isn’t landlord friendly for the most part . My goal here is to able to come up with game plan, learn & implement information that is given..

Any thoughts on what I will need to invest remotely. What resources i will need in my corner to be able to invest remotely? My plan is to find discounted properties & do the BRRR strategy & potentially have section 8 tenants.

 Well I hear this daily; I want discounted props do the reno and refi. Ok so who's doing your reno? The guy that got you the deal, not going to happen. Why would anyone give away a great deal, and run the job? I want sec 8, Ok so who's screening for you? You do not know how to navigate through the process.

So what do you do? Simple, you connect with those that do it and allow them to handle. I live on the beach in FL and do all my deals, about 500, yes 500 in the Midwest. I am flipping 5 next week, all while OOS . Oh you better be cash as well, if not it will make things even more difficult. 

Not trying to rain on your parade, just telling you what you need to hear vs want. I'm known for that LOL 

All the best