All Forum Posts by: Kyle Myers

@Jessica Frasier I agree with @Pam I. turnkey sounds like a great choice for you.  Checkout my blog about why I chose turnkey. https://www.biggerpockets.com/blogs/8313/49711-par...

 I have a couple other ones about choosing the right company and how to choose a property if you do decide to go that route. 

@Sunil Chauhan ,

There are a lot of solid Turnkey companies out there and I've never seen them list anything for under the mid $50k's.  As @Chris Clothier said, you need to start with a  good product if you're doing turnkey.  If not, you might as well just go flip a house yourself. Check out my blog post for determining a good turnkey company, you might have missed a few of these questions when speaking with these guys. https://www.biggerpockets.com/blogs/8313/49783-par... I also have another one about analyzing a property if you're interested in that.  

Just went under contract for my first turnkey property and this is my second investment property. Both properties are in different states so I'd like to consolidate my insurance. Does anyone have any nationwide insurance agent recommendations?  Has anyone worked with Ross Diversified Insurance Services and could give reccomendations?

@Kiran Alisam  I've been writing about my journey to buy my first turnkey.  I'm now under contract and have written 3 posts about choosing the turnkey strategy, how to chose a company, and how I selected the property.  Take a look at it and let me know if you have any questions. 

https://www.biggerpockets.com/blogs/8313-my-journe...

@Travis Callihan The Spangdalem area is nice too, it's a quiet, rural area, but relatively close to everything.  I've been through there and Ramstein many times. 

@Juan Lozano

Please keep us updated on your experience.  We're all interested in/rely on the feedback we get on these forrums of these companies.  It's the main reason I trusted the one I went with so much. 

@Travis Callihan Yeah I'm stationed at the Academy and my wife is at Pete.  Where are you located now?

@Travis Callihan My wife and I are in the Air Force too.  Be careful going down the "get rich quick" wholesale trail.  Many people are successful at it, but you can lose your butt if you don't know what you're doing.  Check out my 3 part blog about why I chose Turnkey, buy and hold, strategy for our situation, how I chose the company I'm using, and how I chose the property.  https://www.biggerpockets.com/blogs/8313-my-journe...

I'm pretty new at this whole thing too, but have been digging into research very heavily. So, let me know if you have any other questions about buy and hold or turnkey. 

@William Mccauley If that rent is for both units total, I would not do the deal personally. It will be hard to cashflow any property that doesn't meet the 1% test (rent/price) with a mortgage. It also doesn't look like a good deal if you do the 50% rule. Take 50% of the rent for nonmortgage expenses ($1300) then subtract the mortage and what you have left over is cash flow...in this case you're in the red. You aren't factoring in property management which would be another $260. I know you plan on living in it now and managing it, but you don't want to plan on that forever. Check out my blog post here about my first deal I just bought on a SFR turnkey and how I did my analysis. https://www.biggerpockets.com/blogs/8313/49907-par...

Shoot me a message if you have any more questions. My opinion is to keep shopping around, if you want to house hack, a better option may be to rent out rooms in a SFR.

@Elizabeth K. I don't have any specific referrals, but my advice would be to work this through a reputable property management team in the area.  I'm sure they'll charge you a little, but their experience doing this will save you headaches in the long run.