All Forum Posts by: Joel Zwemer

I bought a SF home in Lake Worth, Florida using a line of credit.  I am attempting to mortgage the property to pay off the line of credit so that I can pursue other deals.   The amount needed is only about $130,000 and the property is worth at least $190,000. So far the loan offers I obtained seem unreasonably expensive in terms of points and loan costs. I am retired so I do not have earned income but good credit score.  Any recommendations on where to seek a reasonably priced mortgage?

I have a single family property under contract. It is intended as a long term rental. I am buying with cash, but want to take out a mortgage after closing in order to pull cash back out for other investments. We would like to take title in an existing LLC that my wife and I own. I have heard that it may be more difficult to get favorable financing if the property is held by an LLC. Is that correct and are there other considerations of which we should be aware?

I have a contract on a single family residential property located in South Florida intended as a rental unit.  It was constructed in the 1950s.  I ordered a standard inspection and the inspection firm immediately recommended that I also order a sewer camera inspection, which essentially doubles the cost of the inspection (still less than $800).  I ordered the additional inspection. I am curious to know if others think that such an inspection is warranted and what other types of inspections investor, purchasers order.

@Bryan Blankenship. I would love to hear your tips to avoid getting screwed by a turnkey operation.

@Joel Owens. Do you think syndications are safer? why?

@Elizabeth Garcia. Did you pursue and purchase? How did that go? I am looking at doing the same thing myself.

@Hank Keller I saw your post regarding real wealth investors. I am considering a turnkey investment and would love to learn any tips that I can.

Engelo Rumora: Could you please identify what criteria you use in your market?

Bigger Pockets frequently recommends using realtors as one of the funnels for investment leads. I would like to know what criteria investors are providing to the realtors for their listing searches to screen for good investment leads. Does anyone care to share their criteria?

I am interested to find out if this potential project has progressed.