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.
Account Closed
I have a few FSBO Questions
24 March 2024 | 25 replies
Most people haven't done very many deals though, that's why they benefit from working with a professional.Some recent examples in my 1st hand experience... last year I witnessed a FSBO seller leave $400k on the table.
Sage Jankowitz
DO NOT CALL list
22 March 2024 | 81 replies
I started by asking for more clarity on his post from a year ago (I guess I had no way of knowing that i was "poking the bear") and he immediately responded with accusations that I am a monster who doesn't give two ***** about bothering people ...
Marcus Lane
W2 & 1099 Realtor - Real Estate professional designation
21 March 2024 | 11 replies
IT was a guy who was a sailor of some kind I believe, and he had witnesses attest to his hard work that allowed him to challenge the audit result successfully.
Jacopo Iasiello
Data is change in 2024
20 March 2024 | 0 replies
Miami's real estate landscape isn't just about properties; it's about dreams coming true and aspirations reaching new heights.Dollar Volume: Witness the economic powerhouse in action, with the dollar volume soaring by an astonishing 32.0%.
Jack B.
Thinking of selling my properties off slowly over time.
18 March 2024 | 15 replies
Sounds like you're at your wits end here so it may be like ripping off a band aid, just getting rid of all of them at once.
Travis Steinemann
WARNING: DO NOT TRUST ZILLOW BACKGROUND CHECKS
14 March 2024 | 23 replies
Check the sex offenders list, require two years of consent employment, don’t pull credit scores, do run a drivers records check, do run a state background check through your state police and do a local county courts check, list each category on your application and have them initial and sign along with a witness of a notary. 9.
Gene Jung
Certain amount: looking for investment opportunity
15 March 2024 | 31 replies
But, there are also some great operators out there, who happen to raise money for their deals from outside LPs.I do think we have witnessed/are witnessing a lot of investors that will forever be turned off of syndications.
Joe C.
tenant says he's afraid that his infant will cut her fingers on brand new radiators.
15 March 2024 | 37 replies
They don't bill for their time unless they win, but they do bill for court filing fees, postage, investigators, expert witnesses, etc.
Yechiel W.
Which city in Ohio to start out?
15 March 2024 | 31 replies
As an investor based in Columbus, I've witnessed firsthand the favorable market conditions here.