All Forum Posts by: Mark Shaffar
Mark Shaffar has started 27 posts and replied 316 times.
Post: Investing in Lincoln Nebraska - UK Citizen needing advice
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Originally posted by @Rich P.:
First things first. You need to get a SS card and build some credit history. The same way international students do it. You can get a social security number. That will then let you apply for credit cards and you can build some credit. This is the bare minimum you would need going to any kind of conventional lender fyi.
That's a great place to start, but there are banks who will loan without an Social security card. Kind of like a non-recourse loan. Feel free to PM me @ess dee
Post: Taxation of foreign/US earnings
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
@Account Closed
she seems to have experience in that area
Post: Partner wanted to exchange ideas and challenge my plans
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
I got my start buying turnkey rentals while I was working in China. You're on the right track!
Post: How to find chinese investors
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
you could also network at Asia Real Estate Association of America events. They just had a summit in Chicago.
Post: Investing in US or UK rental properties?
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Originally posted by @Max Kim:
The U.S. offers much lower prices as a function of rent (a purchase price of less than 10 times annual rents in many metro areas). I have been able to purchase in Atlanta, Georgia for 4-5x annual rents (two years ago I paid as little as 3-4x annual rents for properties). The UK has a serious home affordability issue with borrowers reaching 3-4x annual income for home purchases. Once interest rates rise, prices will have to adjust because there will be a much smaller pool of buyers outside of Hyde Park and other foreign buyer enclaves.
I agree with Max, 2% deals are still available in the US. I also just talked to a bank that does 15% down on investor loans.
Post: Hello from Baltimore
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Welcome to BP! It can change your life.
Post: Looking for indianapolis Turnkey buyers
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
@Kortez Walker Great idea for a topic. Good luck!
Post: Turnkey 4/1 in decent Milwaukee neighborhood
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
@Mehran K. I just noticed your signature. I loved that podcast! You were working with @Dawn Anastasi right? She is awesome and I am hoping to meet with her this week. I think she sourced you some killer deals. I think she will also tell you that prices are rising in these neighborhoods. As far as why retail buyers didn't jump on this at 60k I can only speculate it had to do with the broken furnace. Here are the comps I am looking at:
| 4720 N 62nd Street. Sold 9/14 $92,700. $67.71/sqft |
| 3BR/1BA, 1369 sqft |
| detached garage, brick and frame, built 1953 |
| outdated except bathrooms updated to rental grade |
| 1.1 miles away |
| *4418 N 64th Street. Sold 6/14 $90,000. $81.45/sqft |
| 3BR/2BA, 1105 sqft |
| detached garage, frame, built 1950 |
| granite counters, new kitchen cabinets, stainless steel appliances, new kitchen flooring, retail grade bathrooms, new carpeting and fresh paint throughout |
| .1 miles away |
| 4559 N 60th Street. Sold 10/14 $90,000. $78.67/sqft |
| 3BR/1BA, 1144 sqft |
| detached garage, frame and stone, built 1957 |
| no pictures at time of sale, interior condition unknown |
| .6 miles away |
| 6350 W Leon Terrace. Sold 9/14 $85,000. $72.28/sqft |
| 3BR/2BA, 1176 sqft |
| detached garage, brick, 1958 |
| completely outdated |
| .5 miles away |
| 4138 N 61st Street. Sold 7/14 $84,500. $68.76/sqft |
| 3BR/1BA, 1229 sqft |
| detached garage, brick, built 1956 |
| no pictures at time of sale, interior condition unknown |
| .6 miles away |
| *6124 W Spencer Street. Sold 5/14 $95,000. $77.05/sqft |
| 3BR/1BA, 1233 sqft |
| detached garage, brick, built 1954 |
| retail grade throughout |
| .6 miles away |
| *4151 N 61st Street. Sold 11/14 $95,900. $73.43/sqft |
| 3BR/1.5BA, 1306 sqft |
| detached garage, stone and frame, built 1955 |
| granite backsplash, old kitchen cabinets, refinished hardwood floors and fresh paint throughout, updated bathrooms |
| .5 miles away |
| *4466 N 54th Street. Sold 7/14 $75,900. $55.73/sqft |
| 3BR/1BA, 1362 sqft |
| detached garage, frame, built 1937 |
| new kitchen cabinets and counters, new flooring, rental grade bathrooms, no new paint or carpeting. |
Post: Starting in Turnkey REI
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
disclosure: I bought turnkey rentals in St. Paul and recently started working for that company I purchased from (Calhoun Ventures/Midwest Equity Partner)
Especially if you are buying out of area you really want to do your homework. Tour their rehabs, get to know the people you are working with. Chris Clothier has a great video introducing the concept
Post: RentalVest - turn-key residential income-producing properties - RetnalVest.com Review
- Real Estate Agent
- Madison, WI
- Posts 328
- Votes 88
Good reminder not to jump to conclusions. It could be a misunderstanding