All Forum Posts by: Mark Shaffar
Mark Shaffar has started 27 posts and replied 316 times.
Post: Turnkey Deal Gone Bad...
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Seems like plenty of positive turnkey reviews on turnkey-reviews.com. I know I had a good experience. I also work for the one I was buying from so I'm not exactly unbiased.
Post: PM and owner move in checklist
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
"I can think of several instances where I could have saved the owner more money if they wouldn't have gotten so involved."
funny
Post: Would like advice on strategy
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
@matt 50k wouldn't stretch on a ton of deals. Some lenders will loan on 15% down. You also need to be aware of the market you are buying in. Sub 40k rehabbed houses can get pretty dicey in Milwaukee but 60k will get you a solid place in a good neighborhood. Other markets 60 is also far too low end.
Post: Turnkey Deal Gone Bad...
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Originally posted by @Gaurav M.:
Originally posted by @Jay Hinrichs:
the main difference is hiring a contractor from afar can be something that is very hard to do bordering on a nightmare scenario... I think closing on the deal once it has all been updated and rehabbed .. then doing your own post rehab inspection is safer than risking a contractor walking off with your dough.. if your not in the business and passive this can be very risky approach
Agreed! I should have mentioned that its not faint of the heart. Also the emphasis on great property manager and contractor.
Yes there are many things that can go wrong. I did long distance rehab on a few properties in Phoenix area a few years back. I guess I was lucky that it didn't turn into a nightmare. But I also did have a great Property Manager and contractor. Someone whom I could trust to not rip me off.
Seems like the general thrust of this thread comes up on threads related to any real estate investing. You need to do due diligence on your contractors, neighborhoods, PMs, and/ or turnkey providers. DIY without turnkey doesn't eliminate risk.
Post: Would like advice on strategy
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
use the 50k as down payments on a bunch of high quality rentals. save the cash flow and over time use it as down payments on the next one. Also, read Mrmoneymustache.com and lots of BP. Good luck!
Post: Flipping Rentals
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
you might want to look at starting a property management company as well or at least finding a good one to recommend.
Post: What scares you most about getting started in real estate investment?
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Thanks for the post. I fear failure. Plain and simple
Post: United we fall...
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
There's got to be some areas with better cash flow
Post: Lima One Rental30
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Lima one was good for foreign buyers right?
Post: Just starting out. Milwaukee Wisconsin. Kind of long. Lol
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
better cash flow. gross $2400 per month rent vs $1700