All Forum Posts by: Maureen McCann

Hi @Wilmer Pena, welcome to BP!! Your retirement plan is great! I do agree with @Jon Crosby, a turnkey company would be best if you are looking for passive income from your investment properties. BP has great resources and a very helpful community of investors and pros.

Best wishes!!

@Donald Robers why does BP not have a laugh react button LOL

@Ryan L. Welcome to BP! I'm also in CA and got into long-distance turnkey investing a long time ago - even then CA wasn't really a cashflow state! Of course, now that Im the cofounder of a turnkey provider in AL, I'm obviously a little biased lol BUT regardless of whether you're looking to go the turnkey route or a more DIY / BRRRR route, I'd add Birmingham and Huntsville AL to your list! Great prices, lots of business investments adding jobs and some amazing future-focused leadership pushing both cities forward.

Good luck!

@Kenny Schumacher YAS! Huntsville is where it's at! We recently moved into that market from Birmingham and we are SO pumped about all the cool things happening there. I'm guessing you'll be seeing some awesome returns in the not too distant future!

Welcome @Andrew S.! BP is absolutely the BEST place to learn the ropes and make awesome connections! Sounds like you're ahead of most in terms of skillset, but if you're finding SF to be a bit pricey (most people do lol) and are considering out of state investing, make sure you put the time in upfront to get your systems and TEAM in place! Team is always crucial, but when you're investing across the country, it really makes or breaks your investment. Start with the right people and the right investments will follow!

Good luck!

@James Black I'm about to run to a meeting but I wanted to ask a couple quick questions: how much longer on their lease and is there anything you'd need to do to the property to maximize sales price?

@Gorden Lopes awesome work! Always love seeing a success story, and in Huntsville no less ;)

@James Black Sounds like you know what you need to do lol - that house is doing nothing but wasting your time at this point. With the money you have squirreled away 'under the floorboards' (nice one @Joe Villeneuve) you could put down payments on 3-4 fully renovated cashflow props in AL and be getting waaayyy more than $100/month. 

I'd also like to pipe in and second the rec of @Dave Foster - he really is the go-to guy here on BP for all things 1031, and you had one basically fall in your lap. @Rhonda Blue is right on the money -Tax-free reinvestment should be in your future!

@Gorden Lopes my pleasure! the best part of BP is how supportive and sharing everyone is so I always like to participate in the exchange of data when I can !

@Charles Hirst hahaha yes getting the SO on board is often a little bit of a hiccup at first if they're not as obsessed with cashflow as you are. BUT taking the time to show them the data and work through some math with them usually helps things go down a little more smoothly – I've had several clients who started out with a recalcitrant spouse who later became THE family evangelist for turnkey investing lol. 

Plus the slight delay is going to be WAYYYY worth it in terms of marital harmony, which is, in the end, the most important thing. Just keep showing her the data, no starry-eyed predictions of the future, just compare numbers to what a 'normal' investment could do (based on actual historical data). When you account for the tax benefits of owning rentals, especially, paying fees to some mutual fund and then also paying taxes on your gains may seem like the lesser option (whiiiich it is!).

 Good luck!