All Forum Posts by: Trevor Lohman

Can anyone share some info about a deal they've done with USREEB? Not that I'm not interested in learning more about whether or not @Account Closed is or is not the best! lol (Dude, Leaf... note to self... referring to whether or not someone is a turn on publicly on the internet... not a wise move lol.)

Just curious what type of numbers someone has gotten. I've always just bought of the MLS and hired a PM, I've never gone the turnkey route. What extra are you getting by going turnkey? I'm sure its a lot more streamlined and you have a nicer property?

Anyone care to share a specific deal? Totally understand if not of course!

Trevor

Looks like @Avi Garg broke it down well. 

The lender I use charges a flat 750 dollar origination/underwriting fee, so i guess you could technically get it a little cheaper.... but like Avi said, most of those charges aren't even coming from the lender. 

@Matthew Dreiling

My first deal was an OOS turnkey, and I don't regret it at all so far. 

That said, I don't think you're in that crazy of a market. 

Where I live you are in some pretty rough neighborhoods if you're looking at anything under 300k, and that's true 2 hours in any direction from me. 

At least in Atlanta you have surrounding areas you could look at right? Even if you have it professionally managed but it's with in driving distance. That's what I would do if I were you. I get emails from a turnkey provider in Macon all the time. Maybe you find an area like that, one that you could technically drive to, but it have it managed just to put your mind at ease on this first deal. 

@Peter Bui

Hi Peter,

It's not technically required, but it's something most agents are going to ask you for. The market is so competitive right now, that the last thing a seller or an agent wants is for a house to go under contract and then fall through because you can't get financing. Pre approval just helps reassure the seller and the agent that wont happen. 

Its just a coupe points on your credit score. Just decide if you want to buy a house and if you do then get a pre approval. Worst case you ask your lender to extend it. I don't think it dings your credit much. 

I'm no expert though. Maybe someone else will chime in. I've gotten 8 pre approvals in my life and the effect on my credit was pretty minimal. 

Hi @Jason Castillo

I'm in Redlands so not too far from you. Not sure that I'm qualified to be your mentor, but I definitely meet the "like minded" criteria. 

Are you wanting to invest locally or out of state?

Forgot to mention that my company is headquartered in Dallas. That makes a big difference of course! One less variable to worry about. I like it too @Account Closed. Ft. Worth is a little more my style, but I like them both. 

I think my wife and I would like to stay, but there's something pretty appealing about being able to go from us both working to only one of us working with pretty much no lifestyle change. 

We'll see! It's not set in stone yet, but we're meeting with a realtor tomorrow. If we can sell for 200 more than we paid it'll be a done deal. Anything less and we'll have some tough decisions to make. Wish us luck!

Do you live in Cal: I live in California currently and have lived here since 2003. 

Where: I've lived North of Sacramento, then Orange County, now Redlands. 

Are you leaving?: I'm planning to move to a suburb of Ft. Worth once I sell my house here. 

Why: It isn't because I disagree with the politics or the government (although I do) or anything like that. It's just that I have a 3k per month mortgage here and with the equity in my home I could go up in house slightly and own my home outright in Ft. worth. Also the schools have significantly better ratings on great schools and I'm in a good school district here. the local highschool here was 43%, and the district we're looking at moving to is 96%. Plus there are the tax perks and all of that. 

Income: Full time income was 250k, but my wife stays home with our daughter now so its 150k going forward. That's also a part of the reason for the move. 

Great poll @Karen Margrave

Oops @Scott Hibbert beat me to it.

I've read a few horror stories on here over the years regarding Morris invest, and specifically one of their PM's that they worked with... Ocean Pointe or something I believe. 

I don't remember all of the details so I won't besmirch anyone's reputation beyond what I've already said. 

That said I would definitely try to find one of the handful of negative threads on here that I've seen in the past. I'm sure a few minutes using the search feature will be illuminating!

Good luck,

Trevor

Interested, can you please PM me details. 

Thanks,

Trevor