All Forum Posts by: Allison Karrels

In a few years when we sell our house I might let the buyer assume my loan. I have an 30 year VA loan at 2.875% which might be a nice selling feature depending on what the average interest rate in 3 years. However the sale price should be ~$100,000 more than my balance so the person might have to get 2 loans and it could actually be more complicated.

Granted I was comparing their lender (supreme lending) to Quicken Loans - but the rate and terms were the same for me.

I am about to close on my first Memphis Invest property May 15th.  I went there last weekend to inspect the property with my home inspector. The rehab was good, and by talking with a neighbor the house is much improved from what it was originally.  The whole process from selecting the house to closing took 2 months. The staff are very accessible and quick to return emails, calls or texts.  I haven't gotten to the rent collection part of things yet but the tenants have been approved and once we close they are moving in shortly after.  I am happy with my decision to invest with them and am sure I will buy another house with them in the future.   The fact that it is a family business and they want it to be a business passed down from father, to son, to grandkids, etc gives me faith that they want things done right and for the long term success of both Memphis Invest and their investors. 

@John Padeken

@Emily Powell

I have just started talking with Maverick as well.  I really want to add some duplex or triplex to my portfolio and they were the first company I found that had several multi-family properties for sale.  I don't mind B neighborhoods if the location is good.

Thank you Dawn and Ben for your comments.   "Buy and Hold" for me is owning rental properties for 20+ years.  Honestly I have no exit strategy at this point. I have been slowly adding single family homes to my portfolio and I am now about to close on #4.  I plan to move into multi-family (2-3 unit homes) next.  My goal by 2025 is to have 20 units cash flowing $200 each, but I know soon it is going to be hard to keep getting traditional financing.  If all private lending is short term (< 1 year) then I doubt it will work for me - I would need to continue to learn more about the options out there (looks like Ben's website will be stop #1 for creative financing education).    Perhaps private money for the long term cash flow investor is mostly seller financing and not an independent 3rd party investor - because to make it work I would need 15-20 year terms on most home purchases.  If the private lender portion was just for the 20-25% down payment payback could be 2-3 years of monthly payments.

Most private lending seems to be for flipping properties.  Are there investors out there that use private lending for long term buy and hold properties. And if so, what are the typical terms of the loans.      Thanks,

Allison

@Engelo Rumora Does Ohio Cashflow currently work in other markets besides Toledo?  I would be intrested in Dayton or Columbus

They are based out of CA, but they have turn key markets in : Birmingham AL, Atlanta GA, Indianapolis IN, Kansas City MO, St. Louis MO, Memphis TN, Cincinnati, Cleveland & Columbus OH.

Epic real estate investing and Turnkey real estate investing are the names of their podcast which is why I started to research them.

I am early on in my research process for turn key companies.  Thanks for any feedback.

Hello, I have been researching turnkey providers and came across the Epic real estate investing and Turnkey real estate investing that Matt Theriault does.  Has anyone on BP purchased a home through their turn key service.  I have communicated a lot with them via email over the past week and they do an excellent sales job but I am trying to do further research on them as a company.  

Thank you for any feedback!

Allison

Welcome to BP.  I own 3 rental in Gainesville and am looking to buy another this year or next.  I use Trend Property management as my property manager and they do well for me.  If I need a rehab in a future purchase I will look you up