All Forum Posts by: Ken T.

I don't think anyone is telling you to "get out there" without doing anything. If you look at the large majority of discussions from newbies about where to start, you'll see that most of the recommendations for the newbie to educate themselves through various means.

I think the point of the "get out there and starting doing it" is to avoid analysis paralysis. You can do all the studying you want but if you never do anything, then what's the point. Nobody is seeking to fail on their first deal. However, as a novice, you are lacking in experience and knowledge. By doing your first deal, you will start to fill in the gaps and every deal after the first will be better.

I find it interesting that the homeowners would get so angry from direct mail. Most people already get a bunch of a junk marketing emails so what's the big deal with another note card? Personally, I kind of like it because it makes me feel like my property is desirable!

I should also note that I don't get direct mail for all of my properties, which makes me wonder if people just aren't interested in those areas or if they think these properties are bad investments...

I agree with Caleb. Honesty is the way to go here.

Personally, I've had lenders ask me this question many times. Almost always, it was because I moved large quantities of money from several of my accounts into a single account. This was to simplify things and reduce the number of wire transfers that I would need to make. In these cases, I would simply provide the account activity or bank statements for all the accounts so they could see where the money was coming from.

Thanks everyone for your replies. It was very helpful and definitely cleared things up!

I was looking for a post on this topic but couldn't find one. I was informed recently by a real estate CPA that in order to depreciate (as a tax write-off) with turnkey properties that you need to demonstrate material participation or be involved with making a major decision with the property. Purchasing the properties would count for the first year so that's taken care of but later years would require something along the lines of approving a large expenditure or having a say in choosing the tenants for the property. I am wondering how most people with turnkey properties usually go about doing this? Thanks in advance

I'm interested in the answer to this question as well!

It's true that there are a number of turnkey providers out there that don't have the best websites or reviews on BP. That said, there are a LOT of these companies and not all of them are bad. There are some individual cities with more than 10 turnkey providers. If you've only looked at 5-10, you may not have found the right one for you yet so I'd recommend that you keep looking. BP is an excellent source for vetting turnkey providers, simply by looking up the companies using the search function. I have a similar situation as you (too busy with work to be more hands on). I currently own three properties purchased from two separate turnkey providers. Feel free to send me a PM. I'm happy to share at least my experience with the two turnkey providers.

@Patrick Wheeler

@Lior Rozhansky

Thank you both for reaching out!

 Hey Mike,

Again, thanks for the recommendation! I am already in communication with Charlie but am certainly vetting all the agents that have contacted me for their experience with other investors.

 Hey Mike, thanks for the recommendation and I'm glad it's working out well for you! I don't know how confident I would be in my abilities with a license and for now plan to rely on the expertise of more seasoned agents. I will certainly look more into obtaining a license in the future.