All Forum Posts by: Nathan Williams

what about Memphis? from google maps its a manageable 3 hour drive away from Nashville. If i was in driving distance to Memphis that would definitely would have be my first option. Ive calculated some pretty impressive ROI %s on some properties there but they were in D/F neighborhoods.

We recently used a inspector in Indy.  His inspection report wasnt the most detailed one Ive seen but it was sufficient and he charged only 245 which was a good amount less than other quotes we got.  Let me know if you'd like his contact info.

I am an out of state investor who has closed on 4 properties so far.  All have been bought without my wife and I physically seeing it.  All were properties that we found ourselves instead of a agent sending it to us.  None were purchased from "turnkey providers".  None needed notable work performed to make it rent ready.

We started with high level research with searches such as "best rental markets in USA", "highest rental return cities", "fastest growing cities and such and then honed in from there reading up on whatever we could find on that market. From the top 1-2 cities we started looking for agents (it was HARD to find agents willing to go all out on the price ranges we were after while doing our own MLS searching). For the most part we only considered homes that were on the market for < 30 days. We analyzed crime maps and compared to areas we knew locally to get a rough bench mark of the neighborhood. We also scrolled through google maps street view of the surroundings. We looked at previous sold homes to get a feel of market value.

Theres absolutely no way Id consider that as a home seller unless the realtor is going to go well above the expected duties of a realtor such as basically act as a property manager and coordinate any necessary work done before listing/closing.  But even then I'd consider that at only a extra 1%.

not sure which is favorable for you situation but what I do know is:

car loans will impact your debt to income ratio, but as long as you are in the preferable % range the lender wants to see you are good 

also installment debt utilization does impact your credit scores.  A >95% utilized installment loan will have a negative impact on your scores.  But that impact could be completely insignificant to your approval odds and rate bucket of your new loan.

a local agent would know whats standard/appropriate for your area.  Do you have one?

sorry to hear the issues you are going through.  Did you get a home inspection on purchase?  That would be an effective way to validate most of the work a turnkey provider claimed to have performed and a good inspector would take pictures of everything.

And yes I ask for pictures of every repair job performed.

Does the tenant have a lease agreement in place that has not yet expired? If not you can serve a 30 day notice. If they do, you may be low on options depending on the state.  One option could be to give a bit of financial incentive to get them to move out.

Definitely echo the sentiments that $0 money investing is much more myth and marketing snake oil than being plausible.

Closest thing I know to quick easy funding is a 0 fee, 0% credit card balance transfer but not everyone can command 30K plus credit limits and I wouldnt recommend that path unless you are equipped to handle that debt once the promotional APR expires

definitely understood that about Columbus and can understand why many would want to invest there.  But for me cash flow is a huge priority at this point in my real estate ventures where I'm trying to ramp up funds to help pay off loans and/or save for my next purchase.  And yes Im aware Im asking for alot... took us months to search and research, about 8 unaccepted offers, and a property we had to walk away from in escrow until we found our latest purchase.