All Forum Posts by: Tom Ott

I constantly hear ads for memphisinvestmentproperties.net on the biggerpockets podcast. Has anyone bought any properties through them? How has your experience been?

Just wondering what would people do right now if they had 70k cash on hand. Where would you invest it? Would you just leave it in a savings account for now?

Hey, and thank you in advance for reading my post. I have been reading these forums, listening to podcasts and reading books for the last two years on REI. I just recently finished my residency and started earning a much higher income. I think I am finally ready to pull the trigger on REI. I believe at this point in time, I am looking for very hands-off, passive sources of income. 4 strategies I have been thinking about are listed below. I can probably afford $5,000-7,500 a month towards these investments. I am really trying to get the ball rolling right now, as I do not have a wife or kids and my income is pretty liquid right now.

The ultimate goal is to move in to commercial real estate (not syndicated), but realize that may be 5-10 years down the road. 

Syndication - I have been looking at therealestatephysician.com. The work with physicians and I like the idea of mobile home parks as well as apartment complexes. Does anyone have any experience with this company?

Turn-key houses - I have been looking at REI nation and like what I have been hearing about them. Getting $200-300 cash flow properties in decent areas, while having them completely managed for me sounds pretty appealing.

REIT's - Personally I am not super excited about this idea. I'd likely pursue turn-key or syndication before this. 

Hard Money lending - I wouldn't even know where to start with this. The more I hear about it though, the more it interests me. 

Before anyone starts hating on turn-key properties (a lot of the posts I have read seem to hate on them), I am very career focused at the moment and do not want to do the work necessary to have a successful BRRRR business. Also, I live in New Orleans, LA and have a lot of family ties in Charleston, SC. Both of these markets, from what I can tell are pretty competitive. So I feel like I might have to manage properties in out of state which seems like way more work if you go BRRRR.

Thank you, Will

Hello BP community,

I live in the Bay Area and would like to purchase my first multi-unit property in south western Pennsylvania. I am from Pittsburgh and this is where I am most familiar with the neighborhoods. Given that I am out of state and a first-time investor, I’d prefer my first property require minimum upfront updates. I have spent the last few months researching and evaluating deals, however, nothing seems to be hitting my numbers and I am unfortunately feeling a bit stuck. Below are the high level criteria I am basing my decision on before making an offer on a property:

• B/B- Neighborhood
• CoC >=8%
• Asking price <=180k
• Required updates <=10k

For the Western PA investors out there, is this doable? Or have I missed my opportunity for getting a rather turnkey multi-unit at this price point?

For the out of state investors, how have you successfully managed putting in a bit of work in on properties while not being regularly present? What kind of team do you need to have in place? What works for you for engaging with this team?

Thanks in advance!

I’m looking for turnkey rentals around $60k.

My name is Anthony and I live in Southern California. My goal is to have enough passive income to replace me and my wife’s income and then some. We love to travel and have 3 kids and would love take them around they world.

I am a first time real estate investor and am eager to acquire my first deal but at the same time I’m being very cautious and taking this step by step. I currently have a decent amount in savings and would like to start out of state. I’m setting the budget for our first buy and hold property at under 150k. My first thought was a brrrr but after some thought I switched to maybe doing a turn key ready property form one of those turnkey companies. I thought this would be a good way to get my feet wet into the real estate game.

Does anyone have any recommendations on turnkey properties preferably in the Midwest (if not that’s fine as well)?

Any information would be great, whether good or bad. Also is now a good time to jump into a turnkey investment?

Ok, so Columbus here I come! haha   Thanks for the advise I will look into it and contact everyone.  I truly appreciate it.  I want to get rooted with a solid team in one location for consistent success.  I am sure it will all work out. Also, if there are any wholesalers in Detroit and/or Cleveland please reach out!

Hey Bigger Pockets fam! My names Matt and I am a 26 year old new investor. I have been doing my research, reading, and learning about different investment tactics. The main problem I have at this moment is my job. I work on a yacht, which means I am always on the clock, do not have nearly any free time to work on my business, as well as spotty wifi and cell service to manage anything. But having said that I LOVE what I do and want to keep doing it for the foreseeable future. What I am wondering is, what would be a good investing avenue to take. I have looked into Turnkey properties because of their all inclusive nature, but I wanted to know if there was anything else similar where I do not have to be present daily. If there is not anything similar, then does anyone have suggestions on reliable Turnkey properties that have proved faithful?

Thanks! All the best, Matt