All Forum Posts by: Caleb Heimsoth

FHA loan, you live in one of the units and only need 3.5 percent dkwn

The more people on BP the more subscribers BP will have and more money. That's why

Hi Erik Hyde, I have talked with several providers in Memphis, and would be happy to provide feedback privately if you want. Just shoot me a message. - Caleb

Are you doing this through a turnkey company or just on your own?

I'm personally of the opinion that unless it's a top 25 program it's probably not worth your effort. I have a family member who's worked in finance for over 25 years and has told me his MBA is basically a placeholder, and his was paid for by a former employer.

I'm relatively new so I could be wrong, but won't the bankruptcy make it very hard to get a mortgage ?

Diane G. By saying Memphis in the new vegas are you saying vegas is having an oversupply of rentals and not enough tenants?

If you can pull out your equity and buy a condo/Townhouse in cash with that money that you get, I would say that's a good deal.  Personally, I am all for leverage but also use caution with it, as you don't want to be over leveraged.  So with all of that in mind, I would also say it depends on how many other mortgages or how much other debt you have.  

Hope this helps.  I'm still very much a novice, so take what I say with a grain of salt.

How much of that 100k in equity is money you put into the property when you bought it? If you bought it with 20 or 25 percent down and it's simply built up, I'd personally do nothing but that's just me

Curt Davis Thanks for the input. In your opinion, what would be a reasonable cash flow after all expenses? I was hoping to get at least 250 per month. Do you think that's pushing it with the turnkey model?