All Forum Posts by: Petra M.

I've come to the conclusion that Buy and Hold is not for me and I'd rather invest my money into a syndication and let someone else do the heavy lifting.  I just want to receive a paycheck! 

Can anyone recommend any syndications with a good track record and what kind of returns you are receiving?

I also need a syndication that can allocate larger sums of capital, 6-7 figures.  Some of the syndications I've contacted couldn't handle that. 

Thanks!

I use Zillow and choose For Sale and For Rent.  It'll map it out ... it's not perfect, but it's as good as it gets!

My Austin properties just turned cash flow neutral this year with rent increases.  Took a couple years, but I wasn't *that* cash flow negative to start with.  About $300 per door x 2.  I'm a physician too, so I was able to float that.  

In California, I'd be cash flow negative $1500/month on a $1MM home at $4000/month rent with 80% down.  Of course, you can make anything cash flow if you put more down!

Still deciding whether I want a stable of cashflowing mid-West properties to finance the more expensive California properties.  Decisions, decisions.

Hey from sunny SoCal and formerly Austin! I'm in a similar boat. Wanting to buy and hold for the longterm for appreciation and don't mind being cash flow negative. My income can definitely support it! Have a couple properties in my hometown Austin and have been looking for California deals. Happy to chat!

@David Fitch Thanks so much for doing this.  I really liked Michael L's post.

What lender did you use and what % did you end up getting?  Were they OK with the delays in closing?

Love this thread!  Thanks @Michael L.

@Annie Thompson

Your tags are totally working!

@Jay Hinrichs

Don't get me wrong.  I love that you and @Brie Schmidt put the time and effort into making a great resource.  I wish more people would post their negative experiences!  I mean, it can't all be 100% positives!

Astroturfing?  To paraphrase Wikipedia, "that there are no "true" or "natural" grassroots, but rather "fake" or "artificial" support".  

Please don't get me wrong.  I think a TK review site is definitely needed in this industry.  I just want the data to be as accurate as possible so the legitimate companies thrive and the predatory companies die.

For instance, here's an anonymized review snippit.  Who uses hypertext links in their reviews (turnkey rental property) that links back to the company?  That to me is suspicious for someone astroturfing their own company.

Browsed the turnkey-reviews.com website and it's pretty much all five star reviews.

Of 110 reviews, there is only 1 one star review and 5 four star reviews.  How much astroturfing is going on?  Is there any way to tie user reviews to their biggerpockets account?  Or create a TK review forum on Bigger Pockets?

Without a way to verify the veracity of these reviews, I'd caution everyone to take these reviews with a grain (or bucket) of salt...

What are the best markets for buy and hold of A class properties?

I'm well capitalized -- not enough for California! -- and it seems that most of the turnkey companies operate in B and C class properties.  I'd rather avoid the hassle of those tenants and associated capex.  Looking at purchase price of $2-300+K.

Anyone with a portfolio of just A class properties?