All Forum Posts by: Ken T.

@Pancham G. sent you a PM!

Welcome @Tyler Bunday to BP! It's great that you want to start early. Personally, I am also originally from California but moved to Boston. Both areas are very expensive. That doesn't mean it's not possible to find cheaper properties in California but you do have to put in the time and effort to find them. Similar to Antoine, I also invest out of state. It's much easier to find good rental homes in major cities where you can find decent homes for ~$80-$100k that follow the 1% rule for rent and can cashflow.

@Eran Withana I was in the same situation as you last year. Employed full time and had just picked up a couple rental homes. I used Turbotax when I only had a W-2 income but didn't feel confident using it for RE. So, I went on a similar hunt as you are on now to find a CPA. As you found, the cost at most places is so much that it eliminates your cashflow for the year. I was eventually able to find a CPA (@Daniel Hyman) who specializes in real estate and charged reasonable prices. I'd recommend reaching out to him. He's recommended by several folks on BP.

I agree with the previous posts. Just because prices are high right now doesn't mean there aren't good deals out there. If you find a good deal, I'd absolutely go for it! However, I wouldn't lower your standards for a good deal because "all the prices are so high."

The fact that a mortgage provider is operating with a gmail (or similar) account would be an instant red flag for me. I of course don't hold the same standard for other roles (e.g. I've worked with real estate agents that use gmail accounts).

Welcome to BP @Ben Koslof! Similar to you, I also invest in OOS homes, though not in any of the cities you listed but a couple others that you've likely heard about from BP. I also got my first couple properties from TK providers so would be happy to connect and answer any questions you might have about getting started!

@David T. sent you a PM!

Hey Craig, I'd consider taking a look at more properties. If you're investing out of state, you have a lot of options to choose from since you're not limited by geography. To be realistic, a cashflow of $10 per month is probably not going to be worth your time, so the interest rate is not your problem here. I'd recommend looking at properties with better numbers such that the cashflow is still good with current interest rates. I'm a turnkey investor myself and am still able to find properties that cashflow ~$150 per month. It's not as good as a couple years ago with rising prices and interest rates, but it's still better than the market. Feel free to PM me if you have any questions!

Welcome to BP @Matthew Almeida! I am another Boston investor but I invest in OOS rental properties. If that peaks your interest at all, feel free to PM me with any questions you might have!

Welcome @Dan D.! I own three properties purchased from two separate turnkey providers. As others have already stated, there are certainly pros and cons to this approach. I'm happy to share my own experiences with you, so feel free to send me a PM!