All Forum Posts by: Caleb Heimsoth

@Nicholas DeFelice no need for an agent. Contact company directly.

That being said, don’t buy any turnkey. Returns are awful.

@Jean Santiago don’t buy turnkey. Your numbers look about right and the return is awful. Invest in the stock market. Better returns

@Cameron Riley I have owned some rough stuff.

Pros: bottom barrel pricing and amazing returns.

I paid 25k for a duplex, that rented for 850. I held it for a couple years. Did nothing to it, collected rent for that entire time and sold it for 40k. My total return was north of 50 percent.

Cons: I had another duplex, that I had to evict the tenant out of. The utilities had been off for a month. I got in there, the toilet had been filled with human feces and left to “marinate” for that entire time. This was in the summer in the south. That’s a con...just FYI.

@Sunny Sunnyvale any of @Annchen Knodt suggestions for PM or inspector is good.

I also live in Durham. I’ve used triangle-radon for inspections. The inspector there is named Jonathan.

I’ve owned property in 3 states, and I’ve used Jonathan for all my NC stuff. He’s done a lot of inspections for me and he’s as good as they come.

Straight shooter and former contractor so he can tell you all you want to know about the issues he finds during the inspection.

@Dawn Brenengen or @Tiffany Alexy are good realtors to talk to.

@Mikhail Loshkarev what PM fee would you still be paying?

Unfortunately, you can offer the tenant money but realistically it may not work.

If they don’t leave you have to wait. It’ll take 6-8 weeks to evict under normal circumstances.

@Jeff Plotkin make the repair. You’ll spend more money on insurance long term if you dont

@Teresa Matias the only sure fire way would be to keep enough cash on hand to pay off the PML if you can’t refinance.

If you don’t do that, nothing else is ever guaranteed. Of course these events don’t happen often but two things like this have happened in under 10 years.

You could also find another PML at a lower interest rate and refinance with them.

@Teresa Matias no I meant have the private lender amend the original terms.

Maybe it’s higher interest rate but interest only. Or maybe it’s higher interest rate and longer amortization and you pay points/extension fees.

It’s hard to give advice on this option because I don’t know what the original loan terms were.

@Julie J. Give me the 60k and I’ll spend, I mean “invest” it for you

@Danny Greene if you buy my super secret wholesaling system about how to make millions, with no income, no credit and no time, I’ll show you how it’s done.

It only costs 9,999 payments of 1 dollar. (Per month, cancel anytime!)