All Forum Posts by: Raushanah Glinton

Thanks to everyone for all the great replies. For me, I am getting near the aforementioned 15-year mark in my career, and while I do enjoy my job and want to continue in it for many years to come, I've realized there is no real upside in either position or salary. At the same time, I make more than I currently need, so even after contributions to my 401(k), I am accumulating some cash in my bank account that is hardly earning any interest. If I put it to work now, it could eventually lead to enough money to change my lifestyle, and possibly provide a cushion to fall back on if my company decides to cut me loose before retirement age.

I became an accidental landlord over eight years ago, but only recently has the rental market improved to a point where converting my former home to a rental is finally starting to look like a good idea, and it occurred to me that I already am a real estate investor. I just need to learn how to be successful at it. I've had a fairly easy time wrapping my head around all the fundamentals of REI, and many of the concepts are so simple I can't believe they never occurred to me all these years when I was losing money every month with my rental. All the number crunching and analysis with spreadsheets....I have plenty of practice with that already with my day job. So I do believe I am cut out for this, although I am still weighing my options on the next step (i.e. becoming an intentional landlord).

Does it? I enjoy engineering. 

Engineering brings a lot of initial capital that you can use as a stepping stone into REI.

@Raushanah GlintonGreat questions and I definitely think it depends on several factors. For example, my wife and I are high W2 earners, however, we do not have the time to find, manage and maintain a pipeline that would give us deal flow for houses. Instead, we turn to turnkey providers, like Rent to Retirement (R2R) to help us find deals that make sense for us. These aren't home run deals by any means, but they are certainly nice base hits. One of the recent properties we did with them was a new build project in SWFL that they helped us navigate. We are nearly complete with the build, have about $100k in equity (once it's done), and will probably be able to rent it for $2,400 while the PITI will be around $1250. Feel free to reach out with any questions! I'd be happy to help.

Hello!

There are A LOT of posts on BP about turnkey properties and the companies that offer then. Turnkey has its please in REI, which is why these companies have done so well over time, however understand your returns diminish as a result of them doing all of the work for you. One way I help my clients get into turnkey type properties without such a big diminish on returns is to show them the same type of properties in our area, without them going through the turnkey company that has a line of buyers for the rehab properties they have worked on. You can pair up with a realtor in your area to find turnkey properties that are ready to go and rentable from day one, OR could even help you find properties that are currently rented. All of the properties I have bought for my portfolio have been "turnkey" without working through a turnkey company.

Hope this helps!

You BRRRR and buy dilapidated property so that you can be all in at significantly under market value. You can do the same thing with turnkey, buy at 70% LTV.

Hey @Raushanah Glinton, you might want to post this over in the long term rental forum as well. 

Yes turnkey all the way! In my market it's key. Plus it's my personal investing strategy. I think everyone is always looking for the deal. But sometimes the best deal is to conservatively underwrite a turnkey STR in a major vacation destination.