All Forum Posts by: Anthony Bellesbach

some rules i believe are you have to close in short period of time  It has to be a similar deal usually more debt the governent wants. Should have 3 deals Lined up incase a deal or 2  falls thou or your paying the capital gains if not. As far as if you got money you want out of that you would be paying capital gains tax on that amount. I believe 

I would talk to others that got a turnkey house from them or get a address and check a couple out.  Or look at bbb and see whats up or any law suits and things. Mostly they talk it up and you dont get that or have a contract or something to help you but i would not invest that much for sure or at all but thats just my take on it.

Well you should of worked out if they get a bad tenant. That they wave the fee of the next one. And first month rent to hold them on people they get .   But i would try to find a new pm if you can. If not call them out on repair cost they can charge a mark up but should be in your contract.  I will say im newer to rentals as well but thats my take. 

I would open a credit card or 2 use for gas or bills so you can get rewards from the cards as well and help your score out and show you can handle money. Do not use more then 10% of the total limit or it will lower your score and make sure you pay the full balance off so your not paying 18 % interest

I would say do buy and hold if it cash flows and can get some equity out of the house to fund your next deal.

Would you be selling with agent? Cause that would be a big profit gone with that price of a house. Then if your going to pay half of closing . next issue would be can you find a good deal ? Also now the interest rates will be higher around 5%  not the high 3 or low 4 %  

Maybe lower your risk so your more likely to do what your looking for . Or just go for it and have a backup plan if things dont work out. But always going to have fear for the unknow just matters how you handle it.

you should try and work out a deal for some of ur debt issues and if they are on collections  do not just pay them off . your better of getting them to work out a deal. For less money if they will. But the biggest thing is making a deal that if you pay whatever amount of it that it will be taken off your account . but if you dont have much of a credit history it could hurt you if you do that as well 

May want to talk to real estate lawyer to make sure you have it set up right .

Debt is not always bad. If you can make money off a deal and cash flow it would be much better. That would be good debt. Now credit card debt you rack up thats bad debt to have.