All Forum Posts by: Vivian Hernandez

Why are you discussing this with her at all?

True; 'Wholesaling' is an investor concept; RE and Banking don't use these terms that I know of.

@Vivian Hernandez

Turn-key is not fully passive, as it takes effort on your part- but again, what's your time worth?

I think @James Wise and @Jay Hinrichs said it: you must vet the team and manage those that manage your property. Go meet them and do a tour of the market with several providers, talk to several Property Management companies.

Technology is also your friend. Have your PM's send you videos, pics of everything, if they perform any work, know what is a fair, competitive cost. They must account the income and expenses of the property with a software platform that you can log into and track. Also, email, text, Skype, and BP are an efficient way to communicate with your managers.  Ask tons of questions and learn as you earn-good luck!

 I am a provider so my answer to that would question would be biased. 

Here are a few ways you can have passive Real Estate investments:

1. Turnkey Fully Management Solutions ... as you mentioned

2. Become a joint venture partner with an active investor (rentals, fix and flips)

3. Money Lender

You can usually find these by attending local real estate investing group meetings. You can also do a search on "real estate investing" or "mortgage investments".

With turnkey investing you are usually far away from the properties and are paying others to do everything for you. With this and anything else in life when you sub it out vs do it yourself the cost will of course increase on everything you do. This goes from management to toilet repairs. You will need to have to let go and entrust a very large investment into others. That can be very scary.

The flip side is that you do not have to do it. It is all about what you best and highest use of your time is. If you can do I.T. work for $100 an hour and decide to pay someone $50 an hour to fix your house vs you fixing your house for free are you really loosing $50 an hour or making $50 an hour as you can spend the time you would have been fixing your house doing more I.T. work.

@Vivian Hernandez

Turn-key is not fully passive, as it takes effort on your part- but again, what's your time worth?

I think @James Wise and @Jay Hinrichs said it: you must vet the team and manage those that manage your property. Go meet them and do a tour of the market with several providers, talk to several Property Management companies.

Technology is also your friend. Have your PM's send you videos, pics of everything, if they perform any work, know what is a fair, competitive cost. They must account the income and expenses of the property with a software platform that you can log into and track. Also, email, text, Skype, and BP are an efficient way to communicate with your managers.  Ask tons of questions and learn as you earn-good luck!