All Forum Posts by: Sachin Amin

@Jim K. totally with you on this... 

@David Epstein I personally have a CPA who does my filing for all my REI and I would recommend looking at local classifieds(google locally - you will find very knowledgeable cpa's and you can check out their reviews) rather than fancy names or out of state CPAs who will charge you a bomb. I pay appx $500-$600 on CPA (for jointly filing and 7 units between 2 LLCs - my CPA has all my details as I have been filing with him for couple of years) it saves me time and hassle and if anything goes wrong or any audit I know who to call. But most of the REI do on their own using Turbo tax but I am definitely not one of them, I would rather spend my time researching or listening to interesting podcast which would add value or help me in making my next deal.

Happy Investing!!!

@Jay Hinrichs Absolutely!!!! I exactly know what you are saying.. :-)

@Ekta Patel Yes need to be very careful when choosing and picking markets and all I request fellow investors to do extra due deligence when picking the markes they want to invest in. (drive there , stay there for few days and then decide if its right for them

@Christopher B. totally agree with your opinion and I believe in REI too - what I am trying to say is "Diversify" REI on its own will not create wealth for you - in my case I started(2015) with 100K in REI and 100K in Stocks in (Robinhood self managed) - also depends I am a hands off Investor (mostly Turnkey) as I have a full time job

My returns are average or REI but great on stocks "so far" and that might change may be in next 5 yrs , that doesn't mean I am going to quit REI - they both have pros and cons. Stocks allow me to liquidate today and I can have 100k by tonight in my account - it gives me that flexibility - but of course every one has diff goals and perspectives - my goal is to adapt and embrace anything which would create wealth for me. Cheers!!! and Happy Investing!!!

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..