All Forum Posts by: Joseph Charles

Thank you both. @Caleb Heimsoth Not sure if I know the mechanics of what you propose.  Any resource that I can use to look this up?

Hi everyone, Happy new Year.  I am new to real estate investing and had question about turnkey property evaluations. I found a company who sells using non-traditional financing.  In a conventional loan there is both an appraisal and an inspection prior to closing. Neither of these are done with a cash purchase.  Because of where I live I will have to do an out of state purchase.  I plan to use an individual 401K to pay for the property.  How an I protect my interests? Do I have to just go by what the turnkey operator presents as the home's value and condition?  Any input would be greatly appreciated.

Thank you everyone! Great replies.

I am a former Dave Ramsey fan who as very warily converted to the Robert Kiyosaki "Good debt" thinking. Had $418,000 in debt five years ago and will be debt free ($28,000 left) in May 2019.  After weeks of research I am now OK with getting into real estate to speed up my accumulation of wealth( age 53). After watching several of the podcasts its seems that as long as each property is cash flowing, no one seems to have any limit as to how much debt they take on.  What are the really bad things that can happen with the large debt loads that some people have.  Some podcast guests seem to be millions in debt.  Because of of the cash I have available and good credit I can run up the number of properties very quickly.  I need to plan how to use my resources with some idea of debt limit in mind( I think). I am currently reading the millionaire mind and the millionaires interviewed specifically are debt averse. This almost sounds too good to be true.  Please let me know your thoughts. Waiting to take the leap.