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14 May 2024 | 31 replies
G'Day Trevor,Just posted the same below to another investor asking about turnkey and my advice stays the same 😁There aren't 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.But 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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12 May 2024 | 21 replies
Welcome to BP & congrats on your new venture in real estate!
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12 May 2024 | 9 replies
With a background in retail and customer service, I believe I possess skills that could be valuable in this field.However, before diving headfirst into this new venture, I want to make sure I have a clear understanding of what exactly co-hosting responsibilities entail.
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12 May 2024 | 2 replies
@Kyanne MaderTo expand your property investment venture, contemplate property slicing in Nashville, examine adjacent markets, moving to an alternative market, varying investment tactics, and connecting with other financiers.
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14 May 2024 | 201 replies
I believe fear is natural in your first big venture/big risk high reward.....So I am trying to know as much as I can to make sure delays are at a minimum (preferably none at all but we know thats not feasible haha), materials are ordered ahead of time to account for supply chain issues going on in this country (windows is the most backlogged and its one thing I may not be able to order from the jump because things could change)but I cant help myself but think to take 1/4 of what I think my profit will be and sell them because of covid and its uncertainty , rates going to go up eventually (maybe that helps people rush to buy if I get them done in time), inflation etc etc....But I also feel its more about the money and more about seizing the opportunity and feel if I back out then I will regret it, you know
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11 May 2024 | 5 replies
How that type of business venture would pencil out I am unsure and I think @Rachel H. would be more in tune with those numbers.
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11 May 2024 | 4 replies
It sounds like a worthwhile venture, so best of luck!
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16 May 2024 | 158 replies
However, I still think it was worth it because it catapulted my entrepreneurial mindset and gave me more confidence going into different ventures.
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10 May 2024 | 7 replies
.”* Some kind of joint venture or common interest development.