All Forum Posts by: Vivan Bhalla

Hi everyone,

I wanted to share my experience with Rent to Retirement (RTR) and ask for advice on what I should do next. I hope my story helps others avoid the headaches I've encountered.

I was referred to RTR back in 2022 and decided to use them for my first real estate investment, a turnkey property in Akron, OH. In April 2024, I finally saved enough money and pulled the trigger. RTR identified a property in Kenmore, an area they said would soon be transformed by the city. My point of contact, Adam, gave me lots of assurances about how this investment would be a great opportunity. The house was sold by Steve Yoak from Yoak Enterprises, and RTR recommended his uncle’s company, KS Yoak Enterprises, for property management. I went through the process, and everything seemed to be in good shape: the inspection came back clear, the appraisal was spot-on, and I was excited to get my first tenant in May.

That’s when the problems started. The property manager, KS Yoak, found a tenant without my approval or background check, but at first, everything seemed fine. I received my first rent check in June, but then things went downhill. By mid-July, I wasn’t getting rent payments, and KS Yoak was completely disorganized. They couldn’t handle the situation, and after months of frustration, I ended up dealing with the tenant directly to collect rent myself.

RTR knew they’d messed up and even paid me some money as compensation, asking me not to post anything negative (which I’m clearly not doing). Fast forward to April 2024: I canceled the contract with KS Yoak and tried to get the security deposit, but they sent it to the wrong address. In the end, I was left dealing with the mess they made.

Now, I’ve decided to sell the property, but it's been a nightmare. I bought it for $135k, and now the realtor is saying I might only get $125k. The basement, which Steve Yoak supposedly renovated, has openings, and there are rodent issues. The air conditioning doesn’t work, the fridge is broken, and the property is far from "turnkey."

I realize I should have done more due diligence, but I trusted RTR, and now I’m in a difficult situation. Does anyone have advice on what I should do with this property? Should I sell it as-is and take the loss, or are there other options I should explore? Any insights would be greatly appreciated!

Thanks in advance!

Hi,

I have finally decided to invest in a house hacking strategy and have two options, I am very confused between both and would love to get some opinion from folks here

1. Philadelphia, Penn 

Pros: 

1. Good numbers- I will be essentially able to live for free by renting out the units and eventually cash flow when i move out

2. Cheaper- The houses in Philly are almost half or less than LA and you get more value for your buck. This will essentially mean that I will have less stress on my pocket

3. Closer - I live in NYC and Philly is closer to me.

4. Economy: Philly has better schools, a better financial sector and job sector than LA (I am guessing but would like some opinion)

Cons:

1. Less Appreciation - LA in general has more appreciation and more equity buildup than Philly

2. Weather - LA has a way better weather than Philly. I hate the weather in eat coast and will have to tolerate it for a year or two until I live there.

3. Lack of people I know - I know more people in LA than Philly, basically more people to help me if something comes up. I consider this a factor because eventually if I move out of the country then I would have trusted people around.


2. Los Angeles, CA

Pros:

1. Weather - No description needed haha

2. Better apprecation

3. More friends/known people

4. Economy might be better?

Cons:

1. Super expensive - this is the only major deciding factor, if the house is vacant even for a month or two, I will loose a lot of money

2. No cashflow - It is impossible to make it cash flow or even break even. 

Any comments and help appreciated from folks.

@Nicholas L. I have looked at other listings around the neighborhood and thus calculated the ARV. I can message you personally as well to get more information.

Investment Info:

Multi-family 3bd 1ba duplex in 43205 Zipcode Columbus, OH

Asking price: $205,000
Renovation Cost: ~$15000

What made you interested in investing in this type of deal?

This is an off market deal, the other houses in the area are of the range 400,000$ for a similar 3bd 1ba duplex. The rent according to rentometer is expected to 1300$ each side and thus it exceeds the 1% rule. This property could help me build equity as well as cash flow.

How did you find this deal and how did you negotiate it?

I used an agent who got me this off market deal.

How will you finance this deal?

Thinking of going conventional with 3.5% down and doing the renovations. 

This is my first BRRRR and would need some advice from people who are in the market if this is a good deal or not and whether or not should I pull the trigger. It will be a great help if someone can guide me here. If there is any more information needed please let me know

Thanks

Hello,

I am a software engineer who works remotely and lives in Jersey City. I am planning to invest in a house hack using the FHA loan. I have close to 50k to invest by Feb 2024, that is when my current lease ends and I am planning to pull the trigger. I have the following markets in mind but just confused on which one will be the best (my goal is to achieve FI, I need 2000$ extra cashflow to get to my number):

Jersey City and surroundings - This is good for me because this is where I live and would want to live in the future as well. I know the market and I know it is growing and the quality of tenants is good. I can go a little bit far from NYC and find good deals. The only issue is the tax rate, NJ has the highest property tax and this could hurt my profit margins. Another issue could be to find the best deal as there is a shortage of MF houses in the range I would want

Columbus, Oh - This is a market about which I have heard from a lot of people and my research shows it is quite fabulous. There is growing economy and population and the house prices have still not caught up. The only issue here would be that I will have to move to Columbus for a year (which is not the biggest issue), and also get a car (I do not have a car in NJ). This might just add some extra expenses.

There is one other option in my mind which is Florida - I love warm weather and I love the beaches. The only issue here is the possibilty of natural hazards and the increased insurance rate.

Would love to get idea from people who have done house hacking in these areas or still investing to get an idea as it is very easy to use someone's plan and replicate it.

Thanks in advance

Thanks all for the comments, definitely helpful

Hi,

I am a 29 yo investor who is planning to make an investment in the coming future. I live in Newport, NJ and pay close to 1600$ in rent and share the place with roommates. I am sick of paying rent and moving everytime because the building decides to increase rent. I believe the NJ, NY area is pretty good and would see myself living in the future. Thus, I was considering doing a house hack to save on rent. 

From my research, Manhattan is definitely not an option but other boroughs like Queens, Bronx might be. Also, Jersey City could also be a good option to house hack. I tried researching and could not find much posts of people who do this. 

Is there anyone in the forums who currently does it or has done it in the past, I would like to understand your situation and see how I can do it for myself. 

Thanks

interested in the next one

Hello,

I recently started my investing journey by buying a turnkey property in Ohio. The property has had some hiccups but things are looking better now. I got some money in savings which I was thinking to put into another real estate investment. However at this point I have a few options and I confused-

1. My first option is to buy a new construction for less down payment and seller financing from the same company I did the turnkey deal with

2. The second option would be to go with another realtor who is helping me finding better deals like fixer upper deals or deals where I can renovate and make them into turnkey. This is also in the state of Ohio. I can use a second home loan and put less down payment here.


3. The third option would be to invest internationally. This is the option where I am most excited and leaning towards. I have two cities in mind - Tulum and Dubai. Dubai being the next big hub of everything and just being closer to India (my home). Tulum being a destination which I love. However, Tulum has more risk than Dubai as in Dubai the economy is not just dependent on tourism and there are no risks of things like the cartel etc.


my goal is to achieve FI asap, I am planning to buy rentals which give me good passive income. My goal is 3000$ in passive income and right now I am at 1200$.

would love some help from the community here. Thanks