All Forum Posts by: Michelle Reid

Have you looked into 1031 into a qualified REIT? There are specific REITs for this purchase. They are sometimes "wrapped" with a qualified intermediary and sometimes you would find your own. You can 1031 those properties into the REIT. The problem is finding a REIT you like to exchange into.

@Justin Foster we do have 25% for down payment, just wouldn't do it 18 times or $475,000. I do like that idea of hiring someone to oversee construction. Have you done this? I would really like to BRRRR it's just so difficult where I live. How did you assemble a team from a distance?

@Mike D'Arrigo I like that trend.  I just wonder how much gas is left in the tank - in the short-term anyway.  

@James Wise I hear you.  Unfortunately, I don't have $25k x 18 to allocate to turn key properties.  What I'd like to do is leverage the equity IN the turn key to buy more turn key but there's just no room except for appreciation which seems unlikely for a while in this high market.  Or am I missing something?

@Ali Boone Thank you for that info.  Do you recommend any of those BRRRRkey providers?  Is that similar to what @Noah Swank mentioned?  And yes buying low would be great I just don't know what community isn't already bid up at this point.

@Noah Swank Thanks for that info.  How does that work? Would the property manager help with the construction/act as GC?

My husband and I are looking for rental properties. We would like to BRRRR but we live in the NorthEast. Prices are SO high here that for our first (well second, we had a 2 family in the past) investment I'd hate to make a mistake on a $600k investment. Turn key out of state seems less risky if you find a good provider. The prices are a fraction and you off load much of the management to the PM.

However, is it possible to scale a turn key?  

If you buy for $100k with $20k down.  There is no forced equity since you bought it already rehabbed.  Can you ever access that original $20k to put toward other properties.  

I'm not convinced there will be too much upside left in this market for a good number of years.  Some say KC is emerging but that could change.

Excellent deal. Such strategic creativity.  Thanks for sharing. 

@John Barrett thanks for the info.  What I have found is conventional is 25% down payment. In my area, like yours, that's $80-100k on the low end.  That's really more than I want to put down on my first property.  Is that the wrong mentality?

@Hector Rodriguez thanks for the info.  We managed in the past.  We had small children and 2 full-time jobs at the time and it was just too much.  Now that the kids are older, and more flexibility at work, it may be more manageable.