All Forum Posts by: Sachin Amin

Here's my analogy - "Robinhood People" - we "the small guy" kicked hedgefund's a**

Robinhood users - 13 Million

Avg balance - $10,000

Robinhood Pot Money - $130 Billion 

that's enough fire power to take on any stock and any hedge fund out there - the crowd decides the rise and fall of any ticker symbol - definitely risky but it has opened up a new equation in the stock industry.... 

and these mushroom groups in reddit and webull forums are going to shake up the stock markets...

and yes the COVID + stimulus checks played a factor as folks were sitting home on thier apps - load up Robinhood with $600 stimulus check and Fire up :-)

@Ben Bartels I started with similar situation - so let me share my story -  I wanted to ride on both horses :-)

I put in 50k for down payments on 2 properties in REI and I put 50k in Stocks (self manage Robinhood) - (100k seed money) when I started few years ago - both are doing good - REI is little slow but steady, I thought Stocks would fail or lose to get me returns in 2020 but to my surprise Stocks beat REI hands down in December 2020 and I cashed out at right time. (exit strategy is very important and "I" made it worked in my favor)

So my 2 cents "Diversify" - bottom line is these are all vehicles which would create wealth for you in long run. tweak them as you learn day by day. and finally - be very aggressive and make every dollar work for you!! not the other way round..

Happy Investing!!!!!

@Adrienne Green that's a great point you brought up - one of my tenant's lease expired Jan 31 2021 - its currently being made rent ready. so yes I would drop a note when I have my new tenant with all the costing + lease up fee (another thing i forgot + half a month rent turnkeys usually charge, sometime they take up entire month) - but I would say a month. (so that's a one month rent loss ) so to my above example I would take another $250 out of the door (so I would be making only $1,250 on this unit this year(2021). (unless I have more surprises in store later this year and eats up my cashflow further).

Hope people are taking notes from my real world lessons with Dollar to Dollar accountability!!! :-)

one way I am trying to give back to the BP community is to provide each and every detail with actual numbers or as close as I can be.

Cheers!!!

I live in Columbus OH, and have invested in in different states like TN , MS, MD, OH etc.. I actually like Tennessee and actually drove there to check out Memphis Turnkey properties, REI nation , Mid south home buyers and met all of them -(in waiting list since 1 and half year for Midsouth) - they all are great companies - I am invested with Memphis turnkey properties at the moment(2 properties). 50-75k range is now little tricky but yes you can get if you are lucky. what I am finding out with turkey's as I learn day to day - if a property is making $250 per door cashflow after (mortgage + escrows) that's $3000 income on that unit. However - when your lease expires or the tenant moves out after 12 months - the cost to get the property rent ready is avg $1 or 1.50$ per sqft (900 sqft unit) or something I provided in example below- so that is around $1000 to $1500 in rent ready expense. so literally I am only making $1500 on a unit in TN.

also I forgot to mention - add in couple of maintenance calls @ $100 each (labor+parts) which will eat up your income further down. so on the paper I made only $1200/year cash flow on one of the units. not trying to discourage but no one gave me this detail picture(dollar to dollar) when I started out. (REI nation, Memphis turnkey they all have fancy spreadsheets with proformas - but on the ground when rubber meets the road is little different)


if I had put in  50k-75k in S&P 500 ETF I would have made 30%+ return :) just kidding - different factors, parameters are in play here and pro's and con's on both sides :-)... but bottom line is Turnkey's are I would say still ok "ish" not great per my learning so far. Investor need to be little aggressive when it comes to demand bang for a buck - I am diversified in Stocks, real estates, 401k - all over - and all I care about is who is making me rich and creating wealth for me :-)

I started my journey couple of years ago to try out and I have learned a lot from BP community , youtube video's ,local meet ups podcasts.. 

Rent ready example :

$150 - carpet clean

$200 - cleaning

$100 - yard clean up

$400 - paint touch up

$150 - misc repairs - HVAC filters, batteries, door stops, etc.

Happy Investing!!!!!

@Juan Rivera

Absolutely and I can refer you to the sales person I worked with..

@Juan Rivera

Here are few

REI Nation (formerly Memphis invest)(bit expensive and numbers didn't meet for me)

Memphis turnkey properties (I have 2 with them)

Norada real estate (I have 2 with them too)

Let me know if you need anything else .. I can share few more details

Cheers

Hello BiggerPockets community

Any one invested in Belize? If you can share your overall experience and how are numbers looking when renting through AirBnB

Cheers

Sachin

@John Erlanger

They did mail me , we lost time in back and forth as my PM was unaware as letters would come to me and I would then notify my PM

@Kenneth Garrett

Thanks for sharing, I have paid the fines and issues have been mitigated

I have given the PM contract to city for future correspondence

Hello BP community - I own several SFH nationwide and recently I ran into a violation with one of our Property in Ohio (Middletown(near Dayton) - some kind of Historic town ?????) - the City had put 2 violations on tenants door and we failed to respond back in time that too because tenant was not reachable (I do have PM - freedom group) managing the property in spite of that I ended up paying $300 in fines. what's the deal with these Historic towns , at the time of buying I was not made aware of the historic aspect which comes with additional scrutiny.. I wanted to check any of you own properties in historic locations because they are worse then HOA as I tried to call and explain the city I am out of town and we did address the issue but they would not listen. Is it bad idea to invest in Historic location due to extra scrutiny to landlords ???

cheers

Sachin Amin