Anna Watkins
My recent Tax Lien Auction experience in Tennessee - lost, but got an education
30 March 2024 | 18 replies
The judge said more than once that I needed to "bring a witness," for what I had no idea.
Brandon Beaudoin
Real Estate Investor? Fund deals doing THIS...
28 March 2024 | 16 replies
Not one thing that I started is false or a lie as you accuse without any evidence.
Andrew Syrios
No, Wall Street Is Not Buying Up Main Street—Here’s Why It’s All a Myth
26 March 2024 | 0 replies
And that doesn’t mention the variety of illegal and dubiously legal schemes they’ve engaged in over the years.But of late, an almost bipartisan chorus has emerged amongst critics of high finance: Wall Street is buying up houses across the country to drive up prices and making homeownership unaffordable for most Americans.Senator Elizabeth Warren, like many Democrats, accuses Wall Street of “hoovering up a significant chunk of the housing market.”But many Republicans have also been saying similar things.
Judson Heess
Noise complaints as a landlord living in rental
26 March 2024 | 10 replies
You should have been telling, not asking, and it should have been within the confines of your lease, to wit: "Hi, I hope you are enjoying your new home.
Calvin Thomas
Keep your eyes peeled on your real estate agent for prospective renters
24 March 2024 | 2 replies
That's probably a great practice so you don't get accused of being discriminatory.
Michael Courtenay
Review of American Private Money Group, FMC Lending
25 March 2024 | 26 replies
Then he accused me of trying to extort money from him!
Logan Allec
California City, CA - is this town going downhill?
25 March 2024 | 28 replies
I grew up in CA and Az and witnessed many BFE locations like Cal City that we thought no one would buy, build upon, or live in, that are now completely developed.
Gustavo Tellez
rent increase on tenants
23 March 2024 | 12 replies
Gustavo you always need to take a witness with you when you are dealing with a beligerant Tenant.
Ertha Luma-Gruber
New to BiggerPockets
22 March 2024 | 21 replies
Can conceal and carry also mate.Toledo is the place to be 😁 Guns, Reefer & Cash Flow.....If Toledo gets a River Boat Casino, I'm moving there tomorrow. haha love itHollywood Casino mateIt's not bad - https://www.hollywoodcasinotoledo.com/I prefer your Jack Casino tho in Cleveland Am I witnessing a budding bromance between @Engelo Rumora and @James Wise?
Jonathan C.
Losing money on turnkey property. Should I sell?
24 March 2024 | 19 replies
Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed.