All Forum Posts by: Logan Stecher

 I suppose I can get that on a very large scale, it isn't financially possible for a company to maintain all the properties it builds and large sums are needed to pay for other investments. Does this mean that turnkey companies can drastically vary in size (a few people to hundreds of people)?

I'm interested in hearing more on this as well. I understand the concept and understand that turnkey companies seem to have the most variance (based on my readings). Essentially, you can end up working with the best company out there and get something good or you can end up stuck with a bad property because of poor disclosures by the company, bad service, etc. In other words, they require a lot of investigation into the company on top of the property of interest. All that I can understand.

What I can't wrap my head around though is why would a good or even perfect turnkey company WANT to do all the work, setting up the potential for renting only to not make that money themselves. If they always were not willing to do property management, then I'd understand that part a little (only want to work a relatively short term, sell the property, make $ and be done with it) however some turnkeys even offer the property management. So again, I don't get why the good ones do it all, but not max profit.

 I'm new on the scene, but my hopeful silver lining is that this will help build a good reputation for you. Tenants usually don't speak to one another in regards to a renter's reputation (as far as I am aware), but it may help you within the community in-general.

@Tom Fidrych Fair point. If say the reason were solely the building itself and not the environment, would you take the mentioned approaches? I'll ask my RE agent if he can investigate the reason in the meantime though.

Hello all,

I'm looking at a condemned property with the interest to give it a good ol' rehab and flip. Being condemned, it can already be assumed that rehab will be high, but I want an idea of how high. I know BiggerPockets has a rehab calculator, but what are your beginning steps in this? Do you visit the property to learn what needs fixing and then run a calculator? Do you hire an inspector early on and get a report before the calculator? Any advice on the first steps on this matter would be great!

Thanks,

Logan Snake

@Julio Gonzalez Thank you!

@Bonnie Griffin Kaake Very good point on taxes! A major part of REI that interested me was trying to save money from them as they really do destroy our wealth. I'm looking for CPAs that specialize in RE or REI, but am also hoping to network one with any investors I meet in the area.

Hello BiggerPockets Community! My name is Logan Stecher or I also go by Logan Snake as sort of a pen name. I have moved to Auburn, Maine from Long Island, NY and want to begin a future in Real Estate Investing. I have read a few books prior to moving and made some plans on making the current ranch home I live in into a future rental. My passion is to obtain properties for renting, both residential and commercial, and apply solar panels to all of them to help shift our modern world to a greener future. I take climate change very seriously and want to be apart of the change.

While I am working on repairs in the current Auburn house, I am working to set up my real estate future through connections. As such, I would love to meet up with anyone in Lewiston to Portland, ME area to gain knowledge. Whether we meet-up at a property that you need help with some repairs or you simply want a cup of coffee, I'm willing to be there as a listening ear.

Please don't hesitate to comment or DM!

Best,

Logan Snake