All Forum Posts by: Mayank S.

@John Hodson

I think this is current market rate for 30 year fixed 20% down conventional loan. I talked to couple of lenders today and they told me in the ballpark of 4.375 - 4.75. Obviously more downpayment or points you would pay upfront, lesser the rate however I wouldn't pay more than 20% for first 4 properties. DP requirement will anyways shoot up from 5th property onwards.  

First and foremost you need to focus on areas for investment where you are most comfortable with. Check out with in 2-3 hour driving radius for any market with positive cashflow. I know CA is not positive cash flow market. If nothing within 2-3hr radius, expand your search further and switch 2-3 driving equation to flying radius that will land you in many cash flow markets like Kansas city/Indiana/Ohio etc. lot of opportunities there but before you jump in, zero in on a market and start researching as much as you can about macro economy/population growth/jobs/neighborhoods etc, network with other fellow investors and take feedback about their investing experience in that specific market. This is what I would focus on first before digging any further. 

Can someone recommend me good home inspector in Dayton area? Joe asked me to check in this thread so let me know folks if anyone have any recommendation. Also any title company that you recommend.

Can someone recommend me good home inspector in Dayton,OH area? Thanks!

Congratulations!

To name a few:

- Conventional loans

- Private investors (friends/family/acquaintances)

- Hard money lender

- portfolio lenders

- Joint Ventures or partnerships

I am sure I missed other creative ways to get money. Other will help!

IMHO you should go and renegotiate the asking price. Turnkey companies do inflate prices but always 3-4k less than appraisal if allowing financing. Atleast this is what I have experienced. Sometimes shady providers don't allow appraisal/financing if their product can not support their asking price.   

I am wondering too if it is worth going here. Anyone? share your experience.

I am under contract as a buyer on one of the investment property in Indianapolis which fell through due to issues found during inspection. I am backing out however I was asked to turn the utilities ON from Citizens utility company for inspection which I did. Not sure if that is normal as ideally seller should do that. It was a regular MLS listing and not any bank owned or distressed one. There was no deposit or starting cost asked by Citizens other than my social. Did I make any mistake for doing that instead of asking the seller to do (my inexperience probably)? I am going to call them tomorrow to shut them off but wanted to check if any one has any experience with this and what should I expect tomorrow.