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14 May 2024 | 11 replies
G'Day Bob,Not many "true" turnkey companies around anymore and I've seen a trend where investors want to DIY out of state and country.Personally, I think this is an even bigger recipe for disaster than buying turnkey.bBut that's just my opinion.Back in the day you had many "turnkey" companies selling crappy properties in crappy areas for a lot more than market value.Then they pass you on to a 3rd party PM that nickel and dimes you to death.Granted, if you want to DIY I would always advise moving to the market that you want to invest in.Spending enough time with key people needed to make your venture a success.Yep, easier said than done 🤷‍♂️If you DIY from out of state, you will probably find an "investor friendly" agent that will flog you expensive property from the MLS, refer a "good" contractor and then you will most likely also get nickel and dimed by a referred "trustworthy" PM.IMO, you are safer finding a reputable turnkey provider in a market that you want to invest in and go from there.If $#%@ hit's the fan (Which it always does in real estate), at least you have everyone to blame under the same roof.A true turnkey provider will have everything an out of state investor would/want and need under the same roof.No finger pointing is allowed lolI'm bias as we offer turnkey so take my words with a grain of salt.Just happy to offer my 0.2 Aussie cents.Wishing you much success
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14 May 2024 | 21 replies
Other ways is to ask in groups like this if people have invested in the company and name the company.
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14 May 2024 | 6 replies
NEVER pay for those programs, they are mostly scams to make the people who offer them money and they will try to sell you another program.Real estate is unlikely to make you a lot of money quickly.
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15 May 2024 | 12 replies
That being said, I do know some people who invested in real estate before buying their own primary residence and they are successful!
13 May 2024 | 6 replies
“Wealthy people buy real estate.”
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13 May 2024 | 2 replies
*This is the new aspect for me, so if you guys have any extra tips like "try calling the utilities rather than doing a search", or "always double check with the zoning & permitting boards if you plan on doing STR for air b&b licenses", or even seeing if there are any extraneous departments that can cause headaches later like city inspector or the fire marshal, or some other thing that would be good to know about.Thanks so much in advance everyone --Side note, it is so refreshing to come to a site where people *want* to learn about title.
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13 May 2024 | 1 reply
i want to keep the group small. not like industry scale crowdfunding.if I can find a property which has okay cashflow (which is hard anyways). and can collect around 10/20Â people who wants to invest some cash each.I build a company to own the property and give each person a share. and give yearly dividend to each, until sold.
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13 May 2024 | 2 replies
@Brady Parmentier, you need to tell people what state you're in because how property taxes work differ quite a bit from area to area.
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13 May 2024 | 13 replies
A lot of people get stuck in analysis paralysis and the cost of the special training/programs combined with the equity lost by not being in the market and passing up on good properties ends up costing them more in the long run.Â
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13 May 2024 | 7 replies
Many people lose money on their first flip so this is not bad at all for a first one.