All Forum Posts by: Mark Whitted

I would be careful and find out what they mean buy "don't meet their numbers". But this makes sense to me. I think I would like to try it later on. We want our first property to be post-rehab fully turn key though. Morris Invest in Indianapolis will do either option. Also, Good Success in northern Indiana, mostly the Chicago suburbs, promotes something they call "active turn key" who ch is basically the plan you describe. They also like lease options, but you don't HAVE to do that. They were originally a construction company so they have the rehab and maintenance covered for sure. But they provide everything now. I'll be following this thread to see what others think and how this works out.

Update: Do to some mixup I received my first payment a month EARLY. Being a nervous newbie, it took a little bit longer to close on this. The original note originally had a first payment date of 6/1. Just before closing, they asked to change that to 7/1, which I agreed to. But the first payment arrived early this week. Can't argue with that!

I saw this house yesterday and it looks as good as the pix or better. Really nice. Nice 2 car+ garage with new openers. Great basement. Clean neighborhood.

I do not have any property with them yet. I would probably buy from them though, especially in Cleveland. I just met their team on the ground in Cleveland yesterday. Matt and Ben are sharp guys who seem to know their stuff. I would buy just about anything we saw in Garfield Heights assuming the numbers worked out. Peter and the crew in Miami are great to work with also. I closed 2 weeks ago on a note backed buy 4 of their properties in Cleveland. That whole process of loaning them funds from my IRA went very smoothly. And I received my first payment EARLY. This is a great way to park funds until you can buy the next house. Good luck!

Jimmy S. Ahh... You're one of those evil self employed types. 😉Welcome to the club. You'd have to look at private lending. They would look more at the property and whether or not IT was a good risk. How much cash do you have in the property now? It looks like if you could take even 50% of the current value out you would be in great shape.

I'm a newbie, but cash out refi? And professional PM!

OK. So as of today, I can answer this "yes". I was a little nervous about the whole thing, but Peter and Rosanne made everything really smooth and overcame every "fear" that I had along the way. (OK. Still just a little nervous about wiring $100,000 from my IRA, but...) I am not officially a real estate investor.! Rosanne held my had through the whole thing and put up with all of my newbie questions, concerns and mistakes. The next time should go much more smoothly. Rosanne has worked with my IRA custodian (Equity Trust) before so she knew the whole process and filled out the paperwork. Everything that I asked for to help me feel more comfortable was delivered usually in a matter of minutes. I'll update this thread as the term of the loan progresses. Thanks to @C. Timothy Murphy for Ohio legal guidance.

Rudy Manna Take a look at Good Success. They use something they call "Active Turnkey". Sounds like just what you're looking for. They help you find the house. They have contractors that you use to do the rehab. And they have property management.

David Woz I believe American Real Estate Investors (AERI) does property management for properties not purchased through them.

Carol Otis Glad to find your post. We are just getting started. Our goal is buy and hold rentals for cash flow. That would be tough in the Dallas area (or most anywhere else in Texas due to high property taxes) so we are looking out of state. We've been looking at the usual suspects - Indiana, Ohio, Tennessee - but I have been curious about the Wichita area; my folks were originally from Mulvane. I spent some time in Mulvane myself growing up and we still have friends and family in the area. So... what IS the SFH rental market like in your neck of the woods?