All Forum Posts by: Lisa Gauff

Thanks @Kevin DeVargas.  I've finished the article and appreciate your offer to help.... I found I had some friends who also applied. Good luck with your application!

Hi @Ryan Daigle.  I've finished the article...and yes, as you pointed out about active businesses... that's what I found as well through my research - thanks!

Hi- am writing an article on the SBA Disaster Loans... and want to talk to someone who has gone through the process.  Please contact me asap- thanks!

Lisa

Thanks All for the suggestions - Really Helps!  Yes, @Lynnette E. I have been looking in other parts of CA... but had shied away from San Bernardino cause of the property values... and also have considered resort markets... like the Palm Springs area... but mainly cause I wouldn't mind living there.  Then I started evaluating whether I really wanted to deal with a vacation rental.... and second home markets.... cause in a downturn that could suck.  I like your Loma Linda suggestion... and I know Redlands has a university out there.  Thanks also @Dennis Fernandez and  @Michael Clayborne for the referral to Table...hadn't heard of them... will have to check them out.  @Tom Price... yes, the Turnkey's websites I've looked at Roofstock, RentToRetire, and a few others... the prices seem a bit high.  I look at both the sold comps and the rental comps... and a  lot of times it seems the Turnkey companies are presenting very optimistic numbers... sometimes fantasy figures...  which of course means they can present better numbers on these properties.  I know I will not make as much with Turnkey - trading profits for convenience - but the numbers need to be more realistic.  Now I'm kinda leaning towards Multi-plex... even an 8 or 10 plex to try to scale faster... though I know it's less liquid.  So, yes, I know I'm considering a lot of stuff... but it's all helping me narrow down my focus.  And Yes! @Axel Meierhoefer... let's definitely chat!

I spoke with Ben Walls... one of the real estate agents in Kansas City with "livehomeroom.com".  As I understand it, the company basically identifies properties you can buy that will fit their model... which is a roomate concept.  For instance, in a 4+ bedroom single family home... they rent each bedroom to a different person, not to one family.  That way they can charge more.  Once you buy the property, they rehab it and give you a 3 year lease on it... which is supposed to guarantee cash flow.  Of course it depends on your financing.  This is similar to vacasa.com, which basically does the same thing with rentals in vacation markets.  You buy the house and put it into their program... they rehab it and lease it back from you... they manage the property.  The concept is hassle-free landlording and cash flow.  Anyway, you can look up either company and contact them for more info... 

Thanks everyone for your input!  @Account Closed, 

Hi- I'm looking for my first rental property... under $300k.. and since I live in Los Angeles I'm having to look outside of my area.... and I work, so I don't have time or money to do much traveling or heavy duty rehabbing... and I don't have boots on the ground anywhere.  I'm considering Las Vegas, Phoenix and Palm Springs areas... but nothing yet so far... and none of those areas are as cheap as the midwest.  It would be attractive to buy something Turnkey if I could find a company I felt good about.  I've talked to a few.  So I'd like to know whether anyone has had any experience with the following... good or bad... or any other Turnkey operations - thanks!

Chris Salazar/Arsenal Properties (they focusing on Davenport, IA)
Michael Drew/Real Estate Done 4 U (focusing on Indiana)
Aaron Adams/Alpine Properties (focusing on Indianapolis)
JWB Rental Homes (focusing on Jacksonville, FL)

Thank you @Renard Miller!  All specific advice I can use... this is the type of concise, direct, advice I am looking for - AWESOME!

Thanks @Erik W. for your great advice!  But just to let everyone know -- I'M READY!  I know myself well and am ready to JUMP IN!  I've done a lot in my life.  If you check out my profile... I'm not new to real estate.. just real estate investing.  I didn't get out of bed yesterday and decide to do this!  It's been a long time coming and educating myself... plus I've worked as an agent (I still have my CA license), done extensive remodels on my homes, and currently rent out my home... so I have a little buying, selling, remodeling, designing, financing and landlording experience.  And I agree, it's hard to know someone's situation in these abbreviated postings... so you don't know my personality, background, or education level.  But I still consider your advice valuable... and appreciate the BP Forums as a great resource!