All Forum Posts by: Caleb Heimsoth

Do they have a rental income guarantee? Is that how you could get paid even if the house is vacant? Typically if they have an extended rental guarantee you want to avoid them. TK providers I've researched to varying degrees are Memphis invest, Memphis turnkey and smartland (Cleveland). PM me if you have questions

250 is cheap. I know lawyers that bill 1000 an hour. They aren't real estate lawyers tho

What's the interest rate on your debt, besides the credit card debt? I would be careful about being over leveraged. I wouldn't go with anything lower than the FHA. 1 percent or zero down loans could have you in hot water fast if you lose your job or something similar.

William S. great post. I'm actually going to be in the Milwaukee area soon. I would love to get more of your opinion on this stuff. I'm in the process of getting my first turnkey property and think I can get my second (under contract) before the year ends. We also seem to have similar backgrounds as I have a mechanical design engineer background.

Most quotes I've seen or gotten from several lenders are 4-5 grand

I once thought 15 was a good idea too, but for all the reasons listed above, 30 is better. Just make sure there's no early repayment penalty

This looks very similar to the house I am current trying to buy. That being said my numbers account for PM and I cash flow about the same as this house you're thinking of buying. So with that in mind, I'd probably pass, unless you can get higher rent say, 850.

Because more than likely you'll just be wasting your money. These programs often costs 1000s of dollars. If you wanted to spend a couple hundred bucks to do that, I'd say go for it, but likely it'd be 10-20k and that's not worth it

Hey Ed! Also a recently graduated mechanical engineer here, who's also local. I'm just starting my real estate journey myself. If you wanna meet up or just compare ideas, just message me. -Caleb

I would avoid paying for a mentor at all costs.