All Forum Posts by: Dave Payerchin

I have know and worked with David Phelps for about 6 years.  I consider him one of the most influential people in my life because of how much he has taught me.  Specifically about Private Lending and structuring deals.  He is the real deal and has the upmost integrity.  I would highly recommend checking out his group Freedom Founders if you're in Dentistry.  They not only help with real estate/alternative asset investing,  they also help with the Practice Management and Business growth.  I have personally made life long relationships from the Freedom Founders group and I will be forever grateful for my friendship with David Phelps.  

We pretty much use google for everything.  I just took a class about quickbooks and the guy that presented was a real estate guy.  He swore up and down that Quickbooks desktop version was way better, faster, and cheaper.  We currently use Quickbooks Online but I'm considering making the switch

 Hi Todd!  Thanks for the Reply.  Average value is approx $75K.  I have several I would be looking to bundle together.  What is the best way to contact you to discuss off of BP?

Our buy and hold model is to buy homes in Columbus Ohio with private capital, stabilize the asset, and then refinance to put more permanent financing in place.  Does anyone know any lenders I should be looking at for the refi? 

/

Hey gang!  Does anyone have experience using private investors to fund Buy & Hold properties?  

Hey guys!  There is very sound advice on this thread.  Everything that was discussed is 100% accurate.  My company provides turnkey properties in Columbus Ohio and we've been approached by a seminar company in the past that wanted us to acquire low income properties to rehab and rent so they can mark up and sell to unsuspecting students.  This is a train wreck waiting to happen.  Needless to say we chose not to work with this company.  There are a lot of people getting screwed by 'middleman' type outfits that are selling properties in rough areas for WAY too much.  The poor student is probably never going to be able to resell the property and one can assume the tenants will be less than ideal.  It's refreshing to see there are professionals on here doing business the right way.  

Hey gang!  Our company provides turnkey properties out of Columbus Ohio.  We don't sell or buy properties in Georgia but I can personally vouch for Ken Corsini and GRP.  They are very knowledgeable and work with integrity.  Ken actually had me on his Deal Farm podcast recently and it was a very good experience.  

Thanks for sharing.  Sorry to hear about the break in.  We've been using Simpli Safe alarm systems.  They are transportable and quite effective.  I'm not sure if this helps but I thought I'd throw it out there.  Also it's refreshing to hear that you are working with a turnkey provider that is still providing service after the sale.  We provide turnkey properties here in Columbus Ohio where we live and invest ourselves.  We've built our company on creating long term relationships and being fully transparent.  I think the 'not so good' turnkey providers have more of a 'middle man' mind set.  

Our company buys a lot of lower income rentals for our own portfolio here in Columbus Ohio.  We buy them for cash and we're comfortable with them because we live here and real estate is our full time business.  When it comes to selling turnkey properties, I think it's important to be as transparent as possible.  Of course with the lower income properties the opportunity for a higher R.O.I is available, but if the property is being sold with a lot of deferred maintenance and/or the turnkey provider doesn't have good mgmt systems in place, it could really be a nightmare.  Some of the worst experiences we've had in our own portfolio building has been when buying properties with 'hold over' tenants.  We prefer to buy properties vacant so we can be in full control of the rehab and the leasing.  This is ideal weather we're buying for ourselves or selling turnkey.  I think it's very important to set the expectations upfront with the tenants and that opportunity is lost when buying occupied properties from a tired landlord.    

 I'm pretty sure they are a company that seeks out turnkey properties from market providers and then sells them in a seminar type environment.  I think @Jessie Chang hit the nail on the head when it comes to vetting out a potential turnkey provider.  Here in Columbus, we are actively adding to our own portfolio in addition to selling turnkey properties.  I also think investing in B+ or A- properties is a good move.  Especially if the investor is wanting to use financing because those type of properties make it easy to use leverage.