All Forum Posts by: Raheel Chohan

Mike D'Arrigo Mike I appreciate the sound advice and useful information that you have provided. Bigger Pockets has proved to be an invaluable resource as myself and my business partner continue to vet turnkey providers and promoters. We are planning to be careful with our selection process and will be going into any deal with our eyes open. At the same time we understand it's not all roses and chocolates and there will be hiccups. Hopefully they are minor and we can overcome those to proceed with getting our portfolio started.

@Jay Bhatt

Yes that is correct. Memphis Turnkey does not invest in Texas but I got several recommendations from other BP members on Alex Craig and his stellar reputation so I definitely wanted to check them out regardless.

@Jay Bhatt 

Thanks for this information. It is really helpful. I am looking specifically into the Texas markets, Houston to be exact since I have family there and that would help me to have an actual physical presence if need be for things like a property tour or a home inspection. At the same time if the right opportunity presents itself in a MidWest market then its a matter of doing the due diligence and executing. Some of the turnkey providers that I am looking into are MemphisInvest, NoradaRealEstate and MemphisTurnkey.

Hi Jay, Thank you for this discussion since I am also looking into acquiring turnkey properties and your post contains some important items for consideration. I would be very interested to know which turnkey companies are you working with in Chicago ? Regards, Raheel

Thank you for the great advice and kind words everyone. I am sure we will be conversing on numerous topics in the near future.

Hi Everyone,

My name is Raheel and I am a huge Bigger Pockets fan. Technically I am not a new member since I signed up with Bigger Pockets last year but since I never introduced myself so I guess I could consider myself new ;-). I am currently reside in the DC/MD/VA triumvirate area and just bought my primary residence 2 years ago. I work in the healthcare information technology domain. My primary goal from real estate is to generate passive income and amass a large enough portfolio to quit the 9 to 5 grind and earn my financial freedom. I have also started to prepare for the real estate salesperson license in Virginia since I seem to believe it is a very helpful tool in assisting the REI process. I am not sure how much value it would bring though if I am not looking to invest in Virginia.

I started listening to the Bigger Pockets podcast last month from scratch and have been playing catch up. I am essentially a newbie to REI so trying to be a sponge at this time and soak up as much information as possible. The entry points for real estate are very high in the area I live in and the returns on cash flow do not make sense so me and my business partner have been looking at avenues in other states. We have been looking at turnkey providers as well as look at properties that we can purchase ourselves and hand over to a property management company.

Me and my business partner want to hold onto our day jobs since they provide us an excellent source of capital for REI. At the same time it has proven very tough to pull the trigger because we seem to be at the crossroads of either going with a turnkey provider or identify a property we can purchase ourselves which is rent ready and hand it over to a property manager. In either case we know our cash flow will be impacted by the management fee which I guess is the cost of doing business.

I have had some introductory conversations with MemphisInvest which plays in the Memphis, Dallas and Houston markets. I am planning to get in touch with Marco Santarelli's company next to see what they have to offer. It would be great to hear from the community in terms of their opinion on turnkey vs. the specter of having to identify an out of state property, go through the purchase process, make it rent ready and then market for  a tenant.

Regardless of how my foray into real estate investment pays out, it is always re-energizing to get on Bigger Pockets and absorb the wealth of knowledge available here. I will be honest, I have not even begun to utilize the capabilities the site has to offer in terms of the tools available for investors. I plan to immerse myself in the site capabilities. Any tips on the most useful tools to get to know quickly would be greatly appreciated. 

Raheel

Hello Himan,

                    Good to see you on here.