All Forum Posts by: Allison Karrels

@Michael Williamson - I still have the same 2 LLCs with them that I started with.  Invested $40,000 at the start ($20k each) and have received a total of $9,371.31 so far in quarterly earnings.  The bigger test is still a few years out when they go to sell the properties, but overall I am happy with this investment so far. 

@Jared Shurtliff  - 20% down on all my properties.  Not sure how many I had when I originally posted but I have 3 houses in Memphis and 1 in Houston with them.   All doing well. 

@Maggie H.  The cash flow I listed on the 1st page of the thread is before any contingencies.   If you look at buying a house with them they will send over several spreadsheets and they do factor in repairs, vacancies, etc in their estimate of monthly cash flow. 

Sounds like they had some people transitioning and you fell through the cracks.  I have been working with MI and specifically Ashley Tinker for a couple years now and have always had really fast response times.   Hope you get it all settled out because MI really is a solid company to work with.

Good luck!

Banks like to look at 2 monthly statements of "seasoned" money.  So I got the loans, waited 2 months and then applied for mortgages. 

@Nicholas Q. - never pursed it any further.   I did get a personal loan from my mother-in-law and father and used those to buy a couple rental properties.  I just paid off my dad's loan this month and have a couple more years on my mother-in-laws loan.  Found this route the cleanest and the least complicated. 

I use Trend Management Solutions for my 3 properties in Gainesville, FL and they do a good job. 

I am invested with them through my self directed IRA. I have invested into 2 LLCs both in Indianapolis. They have since expanded to Dayton, OH and are about to offer a multiplex LLC. My goal for returns is 10% during the 3-5 year holding period. So far the return on the 1st LLC which started in May 2016 is 11.94%. The second LLC I joined in the Fall and the return will be around the same 10-12%.

When the appraisal came back low their first response was to officially challenge the appraisal showing them comps of their own and the scope of work that they did with the rehab.  I think they would have been willing to come down on the price some but I told them I would rather leave this deal and find a different house.  They were fine with that and willing to find me another property. 

Not sure the exact reasons why the appraisal came in low, its been a few months now and my brain is a little foggy :)

Its similar to buying a house.  You put 20-25% down and its a 15 year mortgage.  The boats range greatly in size and features but new yachts range from $400,000 to over a million.   We are looking at a 40foot Leopard catamaran which is about $450,000 after all the features are added to the base price of $380,000.  

So its not super cheap but we would vacation on it during the 5 years and then once its ours and we are retired we would live on it so it will be our house.