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Updated over 5 years ago on . Most recent reply

User Stats

89
Posts
23
Votes
Eric Piccione
  • Investor
  • Cincinnati, OH
23
Votes |
89
Posts

Turnkey Investment for First Property, Few Questions Though....

Eric Piccione
  • Investor
  • Cincinnati, OH
Posted

My wife and I are interested in turnkey investing towards a duplex. However, we could not find any information about what happens if we do not need their services anymore. 

1 Is it possible to tell them to scram and then we take care of the property ourselves? 

2 Also, do they keep 100% of the equity and also 10% of monthly income when we are working with them. 

3 If we decide we don't want to use them anymore, does the equity go to us from the date of them leaving onward? Hopefully we can get this cleared up because we wanted to get started but we don't want to make a huge mistake off the bat by not properly analyzing a deal enough and it costing us thousands more than anticipated.

4 Likewise, is it possible to get an FHA loan only requiring 3.5% down to acquire the property.

5 Last question I promise, if we are to get a turnkey property, what are some of the average returns to be expected so we can account for that when going on our journey.

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