All Forum Posts by: Noel R.

Search BP for best cash flowing markets. Pick one and start making connections. If you have the time and desire a visit would be a wise idea too. Personally I was where you were for quite some time. I finally settled on Indy after talking with and watching other investors smarter than me investing there. I found a realtor and got an offer accepted on an off market deal I saw on a facebook group. At that point the real learning began.

Bottom line is all the analysis and research cannot compare to buying your 1st property as far as learning goes. The best way to learn is by doing. The 1st response you got above was stellar and spot on. Best of luck.

Is it a year before sale or vacating? Residential loans generally require you to occupy the home. I doubt selling is not allowed. Reread the disclosures and contact the lender would be your best bet.

Inheriting tenants is challenging so be ready for anything. Looking to extend to spring is a wise choice. Be sure and get them to sign an estoppel prior to closing. 

Who did you buy your turnkey property from and how has it performed thus far? 

I recommend posting in the Indianapolis sub forum, it is quite active. From the little research I have done section 8 is not preferred by PM's in Indy. How did you source your deal?

This sub-forum is dead!!! Is Fresno the gold mine I have been seeking and nobody wants to share? Seriously though what is happening in Fresno? I am 3.5 hours away by car and am taking a hard look at Fresno for my next B&H. Can a patient investor find a cash flowing property on the MLS? Is the 1% rule possible? What is the going rate for a PM in Fresno? Who is buying in Fresno and wouldn't mind talking?

Not sure on the whole abroad thing but I would definitely do your research on house hacking and consider it when you do make it back state side.

I faced this question myself and opted to not go turnkey. I was able to purchase a home from 2000 miles away in Indy via a realtor, perform a property turn and get it leased for 16 months in the dead of winter. It was taxing on my emotions and a ton of lessons were learned along the way. I spent a ton of time researching and connecting before finding someone I trusted and pulling the trigger. @David Greene wrote a book on Long Distance Investing which I highly recommend. 

What are your goals for the next year? 3 years? Long term? Turnkey is a great way to jump in immediately but it too requires research and proper due diligence. If you are looking to truly get involved in REI and build a team in a market turnkey may or may not be the answer.

Mindset is a huge factor in this game. Know things will go wrong and it is how you adapt that will be the key to your long term success. Turnkey is easy but growth doesn't happen inside our comfort zones.

@Scott B. I did not. It appears this dude promotes the ish out of himself wherever he can on here and may have success but no one wants to vouch for him

@Michael Zuber Step 3 is where a majority of investors get lost. How does one select a market? Does the market you select not directly impact your ability to reach the goal?

Did you reach FI by having leveraged properties cash flowing 100-300$ a month? This is the strategy being put in place by the majority of the members I believe.