All Forum Posts by: Tim Greenfield

 Thanks! - I'll check it out. Have a great week!

 All new renovation, thanks for the offer. At this point, i think I need to keep analyzing deals over the next few weeks. Have a great week

@Robert Salazar- Thanks for the last update, that puts it in more perspective. I think the bottom line is with TK I am paying a premium on the TK providers effort which brings the prices more in line with MLS but it is difficult for me to say look for BRRR when I am in different timezones and still have my work. Not sure where go but like I said I am just starting with the numbers to get a better focus. Thanks

 Thanks I will check it out tonight

 Thanks I appreciate your feedback

I am a newbie but I have 1 rental property in Albuquerque which only breaks even. I currently live in Arizona and I travel a lot overseas for work so I am looking at TK providers. My primary residence is paid for in full. I just obtained a $92,000 HELOC on it and I have $60,000 cash to invest. I was going to use the HELOC initially to test the waters and keep the cash in reserves. I am still putting everything I save into my cash reserves to keep building it up. Due to my travel I was going to use a turnkey provider and I have been in contact with a few of them. Listening to podcasts I know that a quick rule of thumb to determine whether a deal is good or not is the 50% rule. But whenever a put the numbers that are provided by various TK providers, they never cash flow or are marginal? Further, the examples provided by the TK do provide for taxes but NOT insurance, vacancy, maintenance, PM fee.

Example- Memphis property in zip 38118 C or B neighborhood. 3/2- Complete rehab by a TK with a good reputation from what I understand. Price 87,000. Finance 69,600 finance, 910 rent and estimated 1321 a year taxes.

Monthly Rent: 910 so makes the 1% rule

-50% for expenses (taxes, insurance, vacancy, maintenance, PM fee)

_________________________

NOI: 455

Debt Service expense: 368.12 without taxes/insurance

Cash flow: 86.88

*****************************************************************************

Example 2 different TK provider- Texas Property A or B neighborhood property in zip 75063. 3/3

$154,100 Purchase price

$30,820 down

$123,280 finance

$1495 Rent so less than 1% but close

-50% expense(taxes, insurance, vacancy, maintenance, PM fee,HOA fee)

__________________

$747.50 NOI

$644.58 debt service without taxes/insurance

102.92 cash flow

This TK provider provided a little more information with exception of vacancy and maintenance. If I add in 10% for each I come up with even less cash flow of $33.58.

Am I figuring this correctly? My plan was to buy some properties that are strictly cash flow and the other with less cash flow but a better upside potential for appreciation. These two actually cash flow, some of the others that I looked at dont' even do that.

Any thoughts/advice would be appreciated

Thanks,

Tim

In my experience in researching these 55 plus neighborhoods they often did not appreciate or have the same resale value as comps. But I.am just learning

Interesting, I guess VA loans have changed over the years. I had one loan and it was paid off by a refinance. I was told at that time ( 2005) time frame that it was usually a one shot deal but once in a lifetime I was told I could appeal and get my full benefit back. I did so and have full benefit. The tiers were never explained to me. I need to check into this as an opportunity.

Greetings! My name is Tim Greenfield and I hail from Sierra Vista Arizona but originally from Maryland. Currently work for the government and travel a lot for work. Lived in Korea for 3 years and loved it. Rotarian for 12+ years and love international projects and helping out in my local community. Currently traveling around Europe so I am not home much. Have 2 SF rentals and have been socking away cash for investments and have HELOC ready. I am interested in Kansas City, Indy, San Antonio, Alabama, maybe Arizona. Originally, thought of purchasing more Cash Flowings SF but I am considering multifamily for next investment. At my age I am only interested in Cash flow and not on appreciation plays. Look forward to meeting great people and creating long lasting relationships.

Greetings! My name is Tim Greenfield and I hail from Sierra Vista Arizona but originally from Maryland. Currently work for the government and travel a lot for work. Lived in Korea for 3 years and loved it. Rotarian for 12+ years and love international projects and helping out in my local community. Currently traveling around Europe so I am not home much. Have 2 SF rentals and have been socking away cash for investments and have HELOC ready. I am interested in Kansas City, Indy, San Antonio, Alabama, maybe Arizona. Originally, thought of purchasing more Cash Flowings SF but I am considering multifamily for next investment. At my age I am only interested in Cash flow and not on appreciation plays. Look forward to meeting great people and creating long lasting relationships.