All Forum Posts by: Jeremy Karja

Do you have a service through your energy provider that fixes your appliances for you at not cost?  In Minnesota we have a company called Home Service Plus through Center Point Energy.  They cost about $5 per unit but I use it on my personal home and they fix the furnace, dryers, fridges etc at not cost other than your bill.  

The question is do you think this service insurance would be worthwhile?  Let' say you insured 10 items and the annual cost  was $600.  Would that be worth it?

Is anyone going to MN REI tonight? Love to connect with you if so!

We all know the answer is, NO!  There is now and always will be plenty of good deals but I have a friend who thinks that most with the very rare exceptions is yes.  I know that is not correct but can't help to notice that most guests on BP and other podcasts got their start in 09, 10, 11, 12 time-frames and makes me wonder I may have missed a really good spike but I know there is still plenty of houses out there that are good deals.  

My question is simply, what can I tell this friend who knows the business a little since a lot of my podcasts, books, and research are showing a lot of the successful ones did do it in those low years?  I have done a lot of research, networking, reading, meeting with lenders RE agents, potential mentors etc.

Thanks!

@Ian E.What is your ARV? What will the cashflow after expenses be when you pull your money out?

Thank you @Tyler Jahnke

Thanks again everyone, great things to consider.

@Tom Ott - They sell it with the rehab included in.  Then they turn you on to their recommended management company most use to get it filled.  They buy about 55 houses a month in this area they said and don't seem to have too many problems.  Of course this is one side and like others have mentioned you have to do the full due-diligence before you pull any triggers.

Best response I have had on BP.  Thanks everyone.  I promise to do more homework before I sign anything.  I am not looking for D properties in D areas so it may be a deal breaker for me.  I will do the homework on it all. Thanks.

I should say they said B- to Close areas and likewise tenants in the Marrion county.  Does the sound correct Craig?

If you use private money... IE find people who have cash and use theirs and give them a good return.  Us an equity line, home equity line of credit...Heloc, IRAS, hard money etc.  These are all considered cash buyers.  Hope that answers the question.  If you think about that...most people out there have access to at least one of those.

Thanks James and Craig.  Great points.  I did ask and they make money on the sale and rehab. I am sure other places too.

I will definately analyze the specific deal and post them here to get thoughts.  

I will find out specifically how much and what rehab they do to better analyze expenses.  

Any other thoughts and considerations are appreciated!