All Forum Posts by: Karl McGarvey

@Mark Sewell that's exactly what I have been using roofstock for. And to see what is "realistic" in terms of returns on a turnkey type property. Right now the idea of flipping def makes us a little nervous because we have zero contacts in terms of contracting, but that is going to change over time as I meet more and more people.

@Mark Sewell Haha. I hear you! I have already found myself looking at deals on roofstock saying "Well I mean I guess that would work" which is not the right attitude! Have actually been looking at multi units in Galveston too, want to learn about the rental market down there in terms of the medical school and the students passing through there.

@Mark Sewell Hey! I am down in League City, how about yourself?

@Taylor L.

Appreciate your response! We definitely are not scared of working hard for it, and I agree with your "addiction" comment. I am already finding myself searching properties constantly trying to practice running numbers to familiarize myself with what good and bad deals look like.

Do you happen to have a good source for locating REIAs? I have looked a little on Meetup but have not found much close to where we are in Houston, which could just be a lack of me knowing where to look.

Hello all! My wife and I are new to the Real Estate Investing world, and are excited about what could be! End goal for us is to be able to retire and drink mai tai's on the beach without a care in the world. Between now and then would like to build a portfolio that will allow us to retire by age 55 at the latest, while maybe even providing some cashflow into our pockets along the way. We will retire with two pension's that would allow us to live comfortably, but any and all extra funds to give us play money for our lives to travel and live in paradise really gets us excited.

By next February, we will have 50K cash to put into an investment. After much research and reading/listening to podcasts, I am particularly drawn to turnkey investments because of the passive nature of the investment that would allow us to focus on our current careers, however with 50K limits us in the amount of properties we can purchase. Below I have attached a spreadsheet of some numbers that I have put together showing the income from two investment properties with some money coming in from our own income to supplement saving for future investments. 

I keep listening to podcasts and reading about how people added 7 properties in their first two years and how awesome they are, but looking at realistic numbers this seems out of the question for us. I assume the people on these podcasts 1.) Take REI as a fulltime job to do this, and 2.) Start with more money than us. Is there something else that I am missing. Overall goal for starting is to maximize what our money can do for us. I have also read about the BRRRR strategy, however with zero experience in this industry thus far, the risk becomes much higher in not having a developed team yet.

Want to get any and all opinions/advice as to what you would do, or if there is something that I have overlooked, especially in the realm of turnkey and creating the ability to acquire more properties without years in between. I realize that this is a long term investment and we have 25 years until we are looking at being retired.

Thanks!