All Forum Posts by: Neil Evangelista

@Jesse Rivera Please add me to your mailing list. Thanks!
Neil

My PM in Reno manages and sent me this one back in September $1.1m, 20 unit, I think about $500 per unit..I'll let you know Lane next time I get one, didn't know you're down with Reno, thought you're a 'Bama guy...

https://www.redfin.com/NV/Reno/460-E-Grove-St-8950...

@Account Closed @Jeff Pollack thank you both for sharing your inspiring stories! Different paths but great results! My take away is that you both planned your exits and then just executed it. The hard part is the execution for my wife and I as we know we want to move back to Hawaii but a have a lot of excuses including we'll make less, kids will have to go to $20k private schools, our vacations will be visiting family in the mainland who probably wouldn't visit us, so we should wait 12 years when the kids are in college etc.etc....I think we're so close now and need to take that leap of faith that @Lynne Jacob  mentions...Here's a great motivational video that has recently inspired me some....

https://www.youtube.com/watch?v=-PdjNJz7B1Q

Thank you Joe for the insightful feedback on out-of-state TK investing!  It seems 90+% of the folks do awesome on turnkey purchases so its nice to hear a different side. I'm going slowly with TK out-of-state due to the risky nature (mainly maintenance and capex). I hear so much how west coast is speculation vs. midwest is cashflow but I'll take double my $500k west coast in 5 years vs. $200 monthly cash faux....I wonder which region is really speculation?

Thank you J! I enjoyed it, learned a lot, and networked too! I'd attend and volunteer if you do it again next year! 

The Morris Invest website seems very basic with no proformas with addresses, contact information, about us, referrals, etc.. A lot of blog posts and good overall design and layout though. It just seems odd that a lot of folks here talked to him and "he seems legit". Maybe if I listened to the podcast then I will be under the spell.. I've talked to many turnkeys and rehabber types and no one pressures me to pay cash. Its whats in my best interest since its my money..

I think there's a lot of variables that need to move in a specific direction to line up a significant down turn. Specifically, layoffs would need to happen, maybe the stock market tanks at least 20%, or interest rates a lot higher.  The San Jose job market is still strong with a lot of building in downtown SJ or north SJ/Milpitas too so hard for me to predict if its q416 or q218 the downturn starts and when does it end?

Even in the worst case scenario around 2006 the peak San Jose median price was $700k bottom of $500k in 2012 and now at $800k (according to Zillow). If I were to time the market and wait 6 years from top to bottom, my rent expense might have been 2k x 12 months x 6 years = $144k. 

I feel the rent I'd pay per month is essentially a down turn (in my net worth) and buying a place and having a tenant pay would be an upturn. A 30 yr fixed 3.5% at 20% down on a 600k purchase is $2,900 principal and interest and 700 tax and insurance so thats not far off from 3k rent and maybe a tenant pays $1,500?...Just giving you a different perspective. 

I'd lean towards buying a 2 bedroom place at a 30 yr fixed rate around mid 3% and get the help from my tenant in paying down some equity if holding for > 5 years ( are you talking prime SF or Peninsula or outskirts like Antioch?) . If prices do decline and interest rates go up, at least you're locked in so essentially offsetting costs. If rates go down, maybe demand moves prices higher and again you're in and can just refinance. If you keep renting, rental rates probably keep increasing over time (so a benefit if you buy a place now). Yes a lot of maybes but over the last 30 years prices and rents significantly higher and 30 yr rates from 10% to 3% (average around 6-7%) so the chance of timing a downturn and saving huge $ in the Bay Area is very slim. Good luck to you!

@Shane Baganz @Percy N.  thanks for the information! I'll research further these products to see what makes sense...

@Shane Baganz I see the Nest thermostat for $249, is that inclusive of the $50 discount? If not, can you help me find it for $50 off (so $199?) thanks!