All Forum Posts by: John Singer

@Brett Rounkles @Logan Freeman @Luther Wilson III First off, I apologize for the less-than-timely response, but thank you all very much. I was hoping to never need this resource for this reason, but that's how it goes I suppose!

Best Regards,

John

Hi All,

Can anyone provide a solid reference to a real estate attorney servicing the Kansas City, MO metro area? I am experiencing major headaches with my current PM, including potential breach of contract, and would like to have a few of the details reviewed. I would be happy to provide limited details here, or shoot me a PM if you believe you know someone I could speak with!

Happy Friday,

-John

Chris, I am only interested in finding out if those programs are legitimate/active. Are the lenders you worked with listed on the site as those who recognize the grant? There is a group of lenders provided online.

Hi BP, For those of you that have experience with turnkey investments (good or bad), what are come best practices when finding a provider that you know you could or can trust? More specifically: What are the types of questions that you asked that yielded valuable information while building trust within the relationship? What is something you could have done differently in hindsight after completing a purchase? Do you recommend meeting a POC of theirs physically before engaging in business? Anything else would be beneficial as well. I just want a solid grasp on small ways to mitigate the risk of investing remotely. Thanks in advance! -John

Apologies on the timeliness, but thank you both for the advice.  I figured it couldn't hurt to ask!

I have since (w/ furthered education) decided to look into more conventional methods of financing.

I am new to RE investing, but am very ready to pull the trigger on purchasing my first rental property outside of CA (where I live).  I understand the CA market is poor from a cash flow perspective, and the barriers to entry are very high from a cost standpoint.  I work a full-time job, have a strong/stable income, near perfect credit, 3 days off/week to dedicate to RE, access to frequent and inexpensive airfare, and enough saved for 20-25% down on a 50-150K property.

My criteria would be at least a triplex (preferably a four-plex) that needs minimal rehab that also falls within a relatively-stable rental market.  My searches have led me to explore various parts of Indiana, Tennessee, Ohio, North Carolina, and other states - mainly because my criteria is accessible at my target price point in these states (I plan to purchase conventionally).

Ultimately, what is the best location for me to hone in on deals?  I would like to cash flow positively with minimal upkeep (obviously), but I just mainly want to take the plunge on my first deal to get my feet wet, learn, grow, etc.  I would also like property taxes, PM, insurance, and vacancy (+ whatever I am overlooking) to all be factored into my monthly expenses.

WHAT IS THE BEST LOCATION FOR ME?

ARE YOU CONNECTED w/ ANY INVESTORS/REALTORS in IDEAL AREAS?  

As of now, I have just been blindly looking into any location that I read up on online, sparks my interest, has low prices, etc.   I am open to turnkey opportunities as well.

Thanks in advance as any advice will be a huge help,

John

Hello all, I am new to RE investing, but currently seeking my first multi-family deal in CA. I am young, have my sales license, and a good paying job, but insufficient capital needed to finance in any other method than FHA. I have been thinking of different ways to fund my deal, and an opportunity I have identified is the equity in my dad's home in southern CA. He has lived there for ~16 years, purchased it for $265K, and it is now worth just shy of $400K. I had asked him recently if I could borrow against his equity, and he is fairly ok with the idea overall. I just had a few questions regarding this idea... Will a lender allow me to take out a HELOC although the property is his and my name is not on the deed? Would this effect him in any unforeseen way? Is there any limitations on how they can normally be used (i.e.: his home is in SoCal, can I purchase in NorCal)? Am I still eligible for first time home buyer tax incentives if I purchase conventionally later on? Is this an overall good idea? We are both financially stable,have nearly no debt, good incomes and credit scores (mine: ~775, his: 800+). Please advise. Any help will be appreciated. Thanks in advance, John S.