All Forum Posts by: Ahmed Youssef

@Andrey Y. I'm not sure what you mean, could you please explain? 

I did but they didn't budge and asked to cancel the contract, I didn't know that KCMO market is that hot, I know it a good market to invest in, but I don't think it reached the level where I should bring 30% of the down payment as extra cash to the closing table.

@Mike Dymski @Theresa Harris I absolutely don't want to do that, specially with my first investment property, and that's why I walked away from the deal despite it was a decent one. but $10K is a hell lot of money compared to the $32K down payment and will bring the COC down aggressively

@Account Closed I'm still new to RE investing, and honestly I can't afford investing where I live in CA nor have the time to travel to a different state to manage a rehab project, so I though turnkey is they most suitable option for me, and from what I've been reading everyone says that turnkey doesn't necessarily mean I've to pay more or pay a premium, they buy distressed houses at cheap, rehab them and sell them at the market price. So, what I was looking for is the market price, I wasn't looking for adding instant equity after closing not low balling a seller. If that option wasn't part of the contract and the appraisal came low the seller can walk away from the contract, but with this condition, I have to bring $10K to the closing table or lose the $2500 EMD. More out of pocket means less COC and $10K is a lot of money compared to the initial expected 25% down ($32000) that would have brought the COC 4~5% down

I'm I not reasonable for not signing my turnkey contract because it has this condition? 

"If the property appraises for $120,000 or more the buyer agrees to purchase the property at the $129,950 purchase price indicated in this contract."

Do you find that condition common in turnkeys contracts?

@James Wise Thank you this is really helpful

@Adrian Kar Have you decided on a turnkey company in KCMO? if so, how is your experience with it?

@Juliano Silva Could you please explain what happened? 

@Jeff Betschart I'm in the same situation right now trying to decide whether to go with USREEB or not, did you go with them? if not, who would you recommend? 

I know it's probably very late to ask my question, but did you get an answer for your question? or have you worked with another lender who was fine with transferring the title to an LLC?

Hello everyone, I'm still a novice and not even sure whether this is a question that could be answered, but I'm gonna count on your help for this one.

Assuming a perfect financial situation, what is the lowest interest rate that anyone can get to finance a rental around the $100K assuming 20% down, that leaves us with a loan of $80K. 

What I heard is since the loan is less than $100K the rates will be higher, or you might get hit with some points to make it viable for the lender.