All Forum Posts by: Mayank S.

I can vouch for @fshouses in Indy. They are hands down the best TK provider operating out of the Indy Market. I am not sure if they still selling TK as the market has changed so much over the years. I purchased with them a few years back and they are managing my properties. I am extremely happy with their product and PM company operations.  

Thanks all. I am scheduling to speak with few over the week. 

I was using Brandon Hall since 2015 however he has jacked up his prices to 200% for me. He is good but I wouldn't be willing to pay with that kind of raise in a year span without any change in my tax situation from last year. I guess time to scout for another one.  Any recommendation, I am in DMV area but open to work with someone outside remotely too.

Hello, I am wondering if someone could recommend a CPA in the Northern VA/DC area that is experienced in working with RE investors. Now with technology location is not a constraint so I am open to working with someone outside DMV area too.

Another CPA I was working earlier has increased his filing fee to 300%.  He is known blogger on BP side I don't want to mention his name but his services I had been using since  2015 and was happy until this. I am no longer willing to pay that ridiculous price for tax filing.

Thanks in advance.

My why's-

1. Free from 9-5 shackles 

2. Another stream of income (passive)

3. Family 

4. Financial freedom

5. Pursuit of meaningful goals through REI

6. Give back to the community

Overall love REI and very dynamic field that keeps me on the edge to learn everyday.

@Mihir Bhimaraju

Congrats and this is good start. You don't need validation rather inspirations and guidance. BP is good in providing all of them though so you are at the right place. 

Much success to you in future!!

@Lee Warren I have few in Indy and its a great cashflow market with some appreciation potential in upcoming neighborhoods around downtown. Someone mentioned that when investing out of state, its not about market so much as much as it is the boots on your ground. Invest with the right company with stellar track record and you will thank yourself one day. 

Feel free to PM me for questions.

@Sam Levine 25% down on multi unit is standard and its good that seller is willing to cover your closing cost partly. All you have to do that number works well for the purpose you are buying duplex. Interest rate is also in line with the current market rate. I bought duplex in Jan and financed, I got similar financing deal minus seller covering any closing cost.

@Suvarna Joshi

 Most of the out of state investors start out through turnkey route unless you have someone family/friend who can help you in that. You first have to narrow down the market where you want to invest, focus on learning as much as you can about the market online on a macroeconomic level.  Identify few neighborhoods on micro level through networking, post questions on the forum, google street walk through,crime reports,school rating, census report on demographics and population migration etc. Once have some idea, find few reputable TK providers, vet them heavily by taking input and experience from their existing investors, fly there check their operations, tour the neighborhoods and quality of rehab, take notes. You see some legwork is involved but once all ducks are aligned and you are comfortable, it shouldn't be too hard to start. In the process you have a team in place. Also check if property mgmt is outsourced or integrated within their model. I prefer something inhouse as one stop shop. This is how I started as finding cash flowing in my area is very hard and I am after passive income stream so cashflow was important, any appreciation is icing on the cake. Hope this helps!   

@Suvarna Joshi I understand your dilemma about jumping into other markets outside your state but frankly there are many investors here that are doing that successfully. You first need to define your criteria and end goal of investing and ofcourse your comfort level. Regardless where you invest i.e in your backyard or out of state, you need to have solid team in place whom you can rely on to look after the investment. If you plan to invest strictly for cash flow /passive income then you need to see if your market realistically has any deals that cash flows. Otherwise as other mentioned there are plenty of cashflow market outside TX. Ask what you are after in the long run? you may get some directions by answering this questions. Good luck!