All Forum Posts by: Nicole Hoss

Hi @Ben Fonohema! I currently invest out of state in Indianapolis and have been for over 3 years without any plans of stopping. In that time, I have worked with a number of turnkey providers and property managers. I haven't needed an agent because I conduct my own due diligence when making my purchases. It's not difficult being OOS, but it does take a level of trust. I'd be happy to connect with you if you'd like to chat!

@Jason Walthall Hello! I would recommend connecting with a property manager in Indianapolis who has a number of properties they are managing in the areas you are looking in to determine the correct fit for you. Personally, I have properties that are below 38th and they're fine because I have a good PM. Indianapolis is truly street-by-street and I wouldn't completely rule out an area simply because of an old post. There is still a lot of room for success in Indy and I'm still buying myself! Feel free to DM me to discuss further.

@Christopher Raney Welcome! Where are you located, sir? I know active duty can move you around. When looking at turnkey, are you set on the southeast or have you chosen that area simply because you live there? I invest OOS because I don't have time to manage a BRRRR project OOS and have found success in Indianapolis. Feel free to PM me to discuss further!

@John H. Hill Jr. Lots of good thought on here for you to take into consideration! I used a HELOC on my primary residence to pay "cash" on my OOS TK investments in order to pay the lowest price (I found that financing deals up front means I pay more for the property). After taking possession of the property with a tenant in place, I then did a cash out refi on each property to essentially "pay back" my HELOC. Now I have conventional loans on my properties and use my HELOC to buy more properties! It works for us and I'd be happy to discuss further if you'd like. Just DM me!

@James O. Thank you for this! I feel like we're the quiet majority sometimes. I don't have the energy or time to BRRRR out of state. Turnkey works for so many people and it's hard when you see so many people bashing the idea on here. Still love BP, but it does tend to promote BRRRR, which a lot of people cannot do successfully.

Hello @Kin Meng Sio! Interesting data and it appears you've really started a good analysis of each location. I can speak to the Des Moines market because I live here and understand that this is a good place to BRRRR for the locals. I have a full-time job and don't have the time to manage a BRRRR so I have chosen to purchase turnkey properties in Indianapolis. The taxes in Iowa are WAY too high to be able to successfully invest in Des Moines with a buy/hold strategy.

If you'd like to talk more about why I have gone the TK route as an OOS investor and have done well, DM me! Also, I can give you more insight into the DSM market and how you might be able to BRRRR here.

@Joseph Lin Do you have a good team on the ground? I would assume you so since you're already determining how to figure rehab costs. If not, you need to be prepared to visit your property a few times during the rehab. Which part of the country have you chosen? I used to attempt the BRRRR method as an OOS investor and it simply did not work for me. With a full-time job, I didn't have the time to properly manage the rehab and have a successful BRRRR. I switched to TK investing and lowered my blood pressure!

@Ryan Horan Welcome to investing! What you're doing is exactly what we did when starting our investing career. I too am an OOS investor only investing in TK in Indy. I have found my best deals are made when I can purchase the property using all cash vs financing. Because we own our own home as well, we took out a HELOC to use as the "cash" to purchase properties. Then, we obtain a cash out refi and use those funds to pay back our HELOC. It is typically less than what we paid for the property, but it doesn't take long for use to build back up the HELCO funds to purchase another TK property. Rinse and repeat! DM me if you want to discuss strategy further. I've been investing for over 3 years now.

Hey, @Marisa R.! I buy OOS TK because I am a buy/hold buyer. Market value, I have learned, is just what people are willing to pay for a property. By purchasing TK, am paying someone else to find reputable contractors to completely the rehab, do all the work to make sure that it will have a good inspections, vet and place a tenant in the property all before I have to purchase it. Oh, and the TK company also has to cover the holding costs associated with rehabbing a property. To me, this is all worth something and I don't mind paying the TK price as long as my numbers still work in the end. 

@Aaron Gore Welcome! I started by attending every Wednesday night BP webinar. You learn so much in a short amount of time. And then come back to BP and research. This is an amazing resource!