All Forum Posts by: Torey Chumbley

Hello BP family! I’ve spent many hours researching turn key real estate and I am about ready to finally pull the trigger. I have about 100 K saved to start my first deal but wondering about my strategy to pay off my home. I have been adding about $3400 per month to my mortgage for the last year and a half and will have it paid off in full in about another 3 1/2 years which is also when I plan to retire. Should I continue to pay down the mortgage or use the money to buy rentals? Also wondering if it is better to leverage the rentals or pay cash? I would love to hear your opinions. Torrance

Hello everyone!

I am interested in working with a company in Northern California called CCI investments and Robert Merchant. They sell, consult and manage trailer parks throughout the US. Has anyone worked with them in the past? Or, do you have any feedback that you can give me about them? I am considering buying a small park in AK and letting them rehab and run it for me. 

Thanks! 

@Larry FriedI do like the southeast markets for some reason and Jacksonville is one that I have looked at briefly in the past. As a matter of fact, I met a guy here in Sacramento the other day from Cash flow links that is working in the Jacksonville area.  I would be very interested in knowing who you use down there too.  What kind of numbers are you getting there?

Thanks Ali,

I'm not stuck on any particular market, I just happen to like the the N Carolina area. People are nice and I wouldn't mind visiting there a couple times a year. I'm always up for suggestions though. Where do you like to invest? 

Btw, can someone explain how to notify or reply back to a post? I see you all using the blue @ with the name, but I have no idea how to do that. 

Thanks!

After lots of research and many months of searching my local area (Sacramento, Ca), I have decided to take the plunge into buying rental properties through a turnkey provider out of state. I have narrowed my search down to North and South Carolina, (Charlotte, Raleigh, Charleston and Greensboro) and the Dallas area. Can anyone recommend companies that they have worked with or know about in these areas? 

Thank you!

Hi there BP community! 

I need some help deciding what type of property my first (and likely others) will be. I live in Northern Cal where the market for single and multi family homes is too high for any type of cash flow. I have been scouring the listings and working with an agent for a month and nothing even comes close to 1% without at least 125k down. So my question is this; Do I buy out of state using a TK provider/MLS, or focus on condos locally? I have run the numbers for both and they are pretty similar for price and cashflow. Each have their merits. Owning an actual house in the mid-west in very appealing, but I worry about long distance management and dealing with PMs. Owning a condo in my area gives me the peace of mind that I can drive by whenever I want. The down side is that I will need to manage it myself to make the numbers work, which I'm not crazy about. I'm stuck. Your suggestions and experience would be appreciated!

T

Hello BP members,

I am looking into some multi-family and small apartment buildings in the Sacramento, Ca area. Does anyone in this area know what the average cap rate is here? 

@Aaron Moore & @Bryan Rodriguez, I am interested in typical 3/2, SFRs in good quality neighborhoods, at least 10% under market value. If you deal in turnkey properties, I would be interested in looking at what you have. 

T

Hello,

I am interested in checking out the Colo Springs area for buy and hold rentals. I used to live in the area and think it might have potential. Can any of you lend some advice or have had personal experience there? 

T

Hello my name is Torey and I am new to Bigger pockets. I am also new to investing in Real Estate. I am a small business owner in the Sacramento Ca, area and am looking to build a rental portfolio to help with retirement. Property is too expensive in Cali to provide cash flow, so I will probably invest in other states.  I'm not looking to build huge wealth, just want to live a comfortable life of freedom.  I look forward to meeting some of you and learning as much as I can from the forum.