All Forum Posts by: Nadja Pritchard

Hello! Did you end up working with turnkeyinvest.com in Memphis? If so, how was your experience? Thank you!

Jen, thank you for your reply and recommendations. We are in the process of negotiations and have to find out the extent of the foundation issues in both properties and get an estimate on the repairs. Seller may not want to do extensive/expensive repairs and we don't want to end up with a huge problem after we close. 

Hello everyone! We are new out of State investors in the South Bend, IN area. We are originally from Omaha, NE and our initial goal was to start investing there. The market there is currently crazy and after a year of looking at investment properties and loosing a few "bidding wars" we decided to look elsewhere. South Bend met many of our investment criteria and we decided to look at some turn key properties as we thought that it would be the best route to go for a first time investor from out of state (even out of country as we are currently located overseas supporting U.S. Military).

Long story short, we got two properties under contract and were very excited about these opportunities until we received our inspection reports back. High levels of moisture in the foundation walls and even standing water was found in the basements in both properties (please see attached pictures). Both properties are older ( 1921 and 1910 ) and have a hollow block/ hollow block and poured foundations. There are also signs of settling and even bowing in the foundations (see pictures).

We would like to have an independent licensed foundation/ waterproofing expert inspect both properties and gives us some feedback on the damage and how to remediate.

While looking in the Omaha, NE area, even at older homes, I have not seen anything like this before. We know that foundational and water issues can be either fixed easily or end up costing many thousands of Dollars and affect the value of the property. We

need to ensure that we are not getting ourselves into a huge mess.

We would be grateful for any recommendations for a licensed foundation expert in the South Bend area as well as any input from the investors in that region.

Thank you!

Hello everyone! We are new out of State investors in the South Bend, IN area. We are originally from Omaha, NE and our initial goal was to start investing there. The market there is currently crazy and after a year of looking at investment properties and loosing a few "bidding wars" we decided to look elsewhere. South Bend met many of our investment criteria and we decided to look at some turn key properties as we thought that it would be the best route to go for a first time investor from out of state (even out of country as we are currently located overseas supporting U.S. Military).

Long story short, we got two properties under contract and were very excited about these opportunities until we received our inspection reports back. High levels of moisture in the foundation walls and even standing water was found in the basements in both properties (please see attached pictures). Both properties are older ( 1921 and 1910 ) and have a hollow block/ hollow block and poured foundations. There are also signs of settling and even bowing in the foundations (see pictures).

We would like to have an independent licensed foundation/ waterproofing expert inspect both properties and gives us some feedback on the damage and how to remediate. 

While looking in the Omaha, NE area, even at older homes, I have not seen anything like this before. We know that foundational and water issues can be either fixed easily or end up costing many thousands of Dollars and affect the value of the property. WE need to ensure that we are not getting ourselves into a huge mess. 

We would be grateful for any recommendations for a licensed foundation expert in the South Bend area as well as any input from the investors in that region. 

Thank you!

Nadja

Hello! I am an out of state investor looking to invest in a single family rental property in Jacksonville, AR. Any recommendations which areas of Jacksonville to look at at and which to avoid. Any input is greatly appreciated. 

Hello! My husband and I are trying to get pre-approved for our for a conventional loan for our first rental property (2-4 units). Our situation is somewhat unique because we are contractors currently located in Germany and have an APO (military) mailing address and no physical address in the US. We are retaining our legal Nebraskan residency and would like to invest there. 

We tried to get some quotes through Zillow and the representative on the phone told us (after asking an underwriter) that we would not be able to get a loan due to A. having no physical address in the US, and B. they have no way of knowing if we incurred debt in Germany while living there. 

We also spoke to one local lender who is offering us an ARM loan, which is not something we would want to do.

Did anyone else experience this? Any advice would be greatly appreciated. 

I hope it all makes sense. I apologize if it does not, we are both new to the real estate investments and are learning as we go. 

Best,

Nadja