All Forum Posts by: Laura Gonzalez

Hi Valerie,

I think my reply may be too late but I'll give it a go anyway.

My husband and I went to the training and it seemed like a pretty good deal. You pay the membership fee up front but you're a member for life, so you can go to more training sessions if you want to. Basically you are finding deals that are within his parameters--if it's a good deal, he'll fund it and you get to share some of the profit if it becomes profitable.

I've heard it called being a 'Bird Dog'. If you are interested in getting some hands on experience, have the time to invest, and know which tools to use to find the deals it's a really great opportunity. My husband and I realized it wasn't the way we wanted to go at the time, but I still retain access to the webinars and am invited to the training sessions so I can start up again when I am ready to do so.

I hope this helps! Check out the youtube videos too, you'll learn a lot!

https://www.youtube.com/user/TheDealFunders/videos

Thank you Victor Etongwe, I appreciate your opinion!

Thank you Marco Santarelli, those are great points.

I do have funds put away that can cover two months expenses, it just seems like a huge difference from seeing big numbers in the bank and then expecting very small numbers! :)

I will PM you with the information if you'd like to take a look, I appreciate your consideration.

The property is being sold by a turnkey company with their own property management company. While I have asked them a million questions, I haven't fully interviewed them about the property management side and I will definitely do that today!

I've got a deal ready to go but I am psyching myself out about it. Can someone knock some sense into me?

I am seriously considering (I have the contract in hand) a 2 flat turnkey property in Chicago that I've been researching for about 3 weeks now. All the numbers make sense; after all expenses, vacancy estimates, taxes, property management, etc, and the mortgage loan is paid, there is cash flow of $400 a month. My ROI is over 18% and the cap rate is about 10%. The properties in the area are gaining value very quickly...but that is just a bonus, it's not included in my plan just in case that doesn't pan out.

I am worried because this would be my first deal, it's far away, and I'd be putting down ALL of my cash. Is this still a good deal if I have less than a hundred bucks at the end of the day?

Thank you,
Laura

Edsiaren Ignacio, I can relate to how you're feeling. My husband has been in the Army for nearly 10 years now and we're ready to start investing full time, but there are many uncertainties that come with it. Considering all options is a good idea, even if you're leaning one way or another. You never know.

Weigh the cost of health insurance, shopping at the commissary, BAH, etc. against your time. For some, those benefits are more important than taking on a new full time career. For others, the benefits don't add up to what they feel their potential is outside of the military.

I would suggest reenlisting for another 3 or 4 years to get that bonus so you've got some capital. Then use those years to get all the financial and real estate education you can. In the meantime make your exit strategy, plan for your future. Start investing now to make sure you've got what it takes, then when you get out you've already got a foundation set and you have a plan to maintain/expand your lifestyle without having to worry about the benefits later.

John Meyers, I would also be interested in seeing your business model. Would this be actual Chicago or suburbs? What neighborhoods are you looking in? Why short term rentals? Do you have a property management company in mind?

Thank you Marco Santarelli, you definitely know this stuff. As soon as I started reading about turnkey companies I was hooked! Using a turnkey company to help out with finding the properties that make sense (and cash) is a great way to start out, invest out of area, or just to do real estate investing without putting a lot of time into it.

Thanks again!

Hi Trey Stanley,

Welcome to BP!

I am also new and just started out. My husband and I have been saving for our own house as well when we found BP and changed our minds! Ali Boone gave us the idea to purchase a multifamily property through a turnkey company instead of a home for ourselves because the area we live in does not make sense to invest in (way too expensive and not enough cash flow) but also because the company will provide you with the numbers up front about that property, which it sounds like will help to convince your wife. Turnkey companies renovate and fix up properties, get tenants moved in, and usually provide or find property managers for you--so right away you know how much the tenants are paying, how much the property management costs, etc. You'll be able to determine how much cashflow you'll get right away with reasonable estimates for expenses and vacancies. Anyway, I'd recommend talking to Ali, she is a great resource and she's got a wealth of information about turnkey companies.

Laura

Joshua Dorkin, I guess I have a lot of catching up to do! ;)

Ryan M., it's always beautiful and warm here. I would bring an umbrella and a light jacket, but you'll probably not have to use them--especially if you stay in Waikiki (or any outer parts of the island) because it's nearly always sunny!