All Forum Posts by: Eric Foss
Eric Foss has started 1 posts and replied 5 times.
Post: Possible to find $30k turnkeys?
- Westchester, NY
- Posts 5
- Votes 0
@Andrew Johnson @Jay Hinrichs @Kyle McCorkel Thank you for the advice
@Nicholas Weckstein Thanks, will take a look
Post: Possible to find $30k turnkeys?
- Westchester, NY
- Posts 5
- Votes 0
duplicate
Post: Possible to find $30k turnkeys?
- Westchester, NY
- Posts 5
- Votes 0
Originally posted by @Nathan Mairs:
Please note these are obviously high crime communities and your renters are likely to churn often with that said you can easily achieve your cash flow target of >$200.
I suspected this might be the case. Not really to keen on a high crime area. It seems I'd need more cash to do what I want to do.
Post: Possible to find $30k turnkeys?
- Westchester, NY
- Posts 5
- Votes 0
Originally posted by @Nathan Mairs:
If you're based in NY how will you manage/maintain the property?
I would have to use a PM company.
Post: Possible to find $30k turnkeys?
- Westchester, NY
- Posts 5
- Votes 0
Are you able to get a turnkey for $30k in a Class C neighborhood that generates at least $200/month cash flow? This would not be a downpayment, I mean all in for $30k (could come up with closing costs separately).
I've been wanting to get into rental property investing for a long time but never had the money (I might still not have enough, I'm 47). I have $30k which is from an equity loan on my home. I made the mistake of buying my home in 2005 and took a beating on it, but that's a story for another day. The area where I live is very expensive so I think I would have to go for an OOS turnkey. I have a strong background in contracting/construction although I don't do it for a living anymore. Ideally I'd buy distressed properties, rehab, rent and manage myself, but the prices here are way out of my range making it impossible and frustrating.
Thanks for any input/opinions, Eric