All Forum Posts by: Ruchit Patel

Great point. Every investor goes through the same situation. I have tried to find the answer and the answer was kind of obvious, expected, and maybe also disappointing!

It does take a long time, starting out is hard! Including people who we see on YouTube at the top level, even for them, it took forever to get somewhere comfortable but then they took dramatically less time to reach a high level with their connections, experiences, the extra money made with hustles, and HELOC on older properties. When that happens, they become more famous and we get to see that part of their life, but not when they were grinding like a college student on ramen noodles!!

Early grind is real, good luck with that. 

Congratulations on your first property. If you don't mind sharing details of it, how you bought it, how're the numbers looking, etc. people would like to know that too! 

 Yes, I have been in that boat. Then I gave up the idea of investing in the backyard and tried out of state. We can connect to talk about my turnkey midwest experience.

As you said, it's the multi-variate question. so, your range should be something where you will get a good night's sleep after investing! Simple. 

You are not buying an entire state. Nobody does. Neither you are buying an area.

One person buys a few thousand square feet worth of place, and as long as the tenant there pays your mortgage, you are winning.  There are good deals, bad deals, good markets, and bad markets everywhere in every state. There can be a good deal and a bad deal side by side in the same area! So depends on who you are asking, you will always hear mixed things.

With that said, I love the Florida market. I have two deals there. One in Cape Coral and One in Ocklawaha. 

 Feel free to message me. Happy to help. 

Every number is subject to mark risk, specially when the market is changing so fast in a chaotic manner! 

One of the best ways to learn something is by doing it, and one of the best ways to start passive real investment can be by using a turnkey provider! 

In the space turnkey, yes RTR has an excellent reputation. 

I followed that philosophy and I have experienced with them. If you wish, we can talk about it. 

Valid point, Sounds like you are being charged around $150K and appraisal near $125K. Definitely, I would not have a smile on my face while singing! 

Can you share cash-on-cash numbers? That would help a lot in deciding whether it's worth paying that much. 

Btw, which turnkey provider is that? ( better dm me instead of writing it here so their reputation doesn't get affected )

One of the ways to learn something new is to learn by doing it, and that's where turnkey providers can be pretty handy! 

If you like that idea, then why not give a try!  

That's how I started two years ago. 

In a hard economy, be grateful that you are in a position you can think of investing. Most people are losing jobs and their houses. 

With that perspective in mind, be grateful that, properties are breaking even at a 7% interest rate. Entire Asia and Europe have no cash-positive properties in their economy.

With this knowledge in mind, now look at the same property that is breaking even in your backyard, might appreciate well enough, you might learn to enjoy that, and embrace current economy, and buy that, and patiently wait to make money in a long run.
 

When I was a beginner, I decided to go the turnkey route. Why not learn by doing it, eh!!