All Forum Posts by: AJ Singh

Alex Craig Count me in. Love to meet you all

Sarah Lam Good luck on your journey!! You will learn a lot from this investment than a lot of people who keep on posting, asking details on various postings but never pull the trigger

@Eugene Lee

Bartlett and Cordova are excellent choices. i have invested in both cities myself but not the turnkey route.

Good luck !!

@Douglas Skipworth

i thought he mentioned multiple SFRs. Steve can definitely take care of him upto ten loans

BTW thanks again for State Farm Rhett Parker Insurance referral. i have saved a bundle compared to nationwide.

@Douglas Skipworth

@Terrence Branley

i should have mentioned that i already have ten income property loans so was searching for a lender. Evolve bank started the application for our five home package deal and three weeks later, i was informed that loan cannot proceed forward due to debt income ratio. since i am self employed, their credit analyst did not even analyse our tax returns properly. we have enough cash flow every month to serve the mortgage and have reserves for capex and vacancies.. 

Also two more referalls for lending said they dont lend to out of state investors.

Steve Bighaus is available to fund upto ten cheap loans and after that our choice is portfolio lending where we have another criteria of each property to be at least 75k or 100k in value

@Terence Branley, Please PM me if you have to finance more than ten loans. i can share some insight.

@Terrence Branley

Evolve bank only offer fifteen year amortization loans. they are extremely hesitant to loan out of state investors. 

Chinmay J. Being a fast food franchisee myself, I will strongly urge You to evaluate the numbers. They look rosy on paper only. With $15 minimum wage on the way, payroll plus workers comp is a huge cost. Franchisors are not raising menu prices to combat the increased labor. Neither they give a break in royalty or advertising to combat slow sales. Look at any QSR and they are running a promotion all days of the month. There are value plays in every restaurant which are least profitable. Either you scale to five or more stores (invest 1.5 to 2 million ), hire a general manager and u will have a comfortable life. But you will be still involved every day. There is no hands off in restaurant mgt. I have seen enough people try to run a fast food franchise through their family members while doing their day job. It's not the best scenario. Good luck.

Michael Sarrail I will second Steve's advice and add umbrella policy coverage for a few hundred dollars. Peace of mind.

Jamie Henkin There are lot of posts on buying 50k or less price point in memphis Please be aware of the neighborhood before committing to a contract If you really want turnkey in Memphis, research BP for @chris clothier, @Alex Craig, @James Wachob etc

Aaron Moore Please make sure your condo can be sold via financing in the future years. Lot of times complex has more renters than buyers and units donot qualify for fha financing