Had a client score a deal 30K under asking. It was listed for 1 week. I sent it to my client and told him let's lowball. We offered under. Some agents despise throwing out lowball offers, I've found it's always worth the try. A few reasons why I think it's worth doing and what we thought of going...
October payrolls came in at 165,000. The consensus was around 55,000, unemployment dropped to 4.1%, and August and September got revised up by a combined 84,000. On a normal day that sends mortgage rates up. They didn't move. Mortgage News Daily's 30-year index ended Friday at 7.17%, the same as ...
November is the time I look at slow season and make calls on how to manage it. What I see a lot: The first two weeks of December look empty, so the host cuts the nightly rate 25% across the board. Sometimes that works. A lot of the time it just gives away money on nights that would have booked an...
Rates finally slipped under 7% this morning, about 6.86% on the 30-year. First time in roughly seven weeks. That means the question I get on almost every offer right now is going to get even louder: should I ask the seller to cut the price, or ask them to pay to buy my rate down? Let's run it fro...
My son goes to college in Buffalo, NY. I am looking at buying him a house and renting extra rooms to his roommates. What should I be worried about and how do I mitigate any risks with this venture?
Hello Bigger Pockets, I have a midterm rental property, and I do allow pets on case-by-case basis. I recently run into situation with German Shepards. A couple had two dogs, but my insurance does not cover them because they are on prohibited list. I unfortunately had to deny them and have vacancy...
Hello, I am in the early stages and need to build my team before I buy. I'm also trying to learn how to analyze the deals myself rather than just relying on someone else to tell me whether a property is a good deal. I am working on understanding ARV, comps, rehab costs, rental comps, DSCR, refina...
The most expensive part of a Baltimore rental isn't the rent you lose. It's the turnover between tenants. Landlords budget for a week of paint. Then the walkthrough happens and the week becomes six. **Budget the trash-out before you touch anything else.** A standard 2BR rowhouse trash-out — furni...
Hi everyone, I am new to real estate, have been on BP for a few months, have been watching/listening to the youtube videos and podcasts. I'm looking for some guidance on where to start my out of state investing joruney. I currently live in NYC and would rather not live in this area utilizing an F...
Hello everyone, I am super new here and want to learn about airbnbs and real estate investing. I want to connect with some local Seattle area investors and also wanted to know opinions about investing in San Juan islands and if there are any agents in that area that can guide me during my first i...
Hi everyone! After Hurricane Isaias, Florida has about 47,000 insurance claims so far (Florida OIR). I come from renovation work in Switzerland, and we're getting ready to work in Florida, so I'd like to understand how the process really works here. A few questions for anyone who has been through...
10 Great Lies Sold to Newbies You can make money “wholesaling” with no capital, experience, or knowledge Your brand new business entity can qualify for credit even if you personally can’t qualify When you identify a great deal money will follow and you can own it all with no investment capital on...
People assume the strategy changed when the portfolio got big. It didn't. The buy box at door 100 is the buy box at door 236. I still buy single-family in Memphis under $100K, in the same nine ZIP codes: 38109, 38111, 38112, 38114, 38116, 38117, 38118, 38122, 38128. I still need ARV of $180K to $...
Past the flat roofs, basement water, and chimneys I've covered before, here are four more things I check on a Baltimore rowhouse before I write an offer — all visible from outside, all expensive if you miss them. **A bulging front wall means the ties let go.** Stand at the curb and sight along th...
Turnovers used to run on hope for us. Now they run on a 21-day schedule, and the clock starts the day we get notice, not the day the tenant moves out. We manage 236 doors in Memphis, mostly single-family and heavy Section 8, so an empty house is real money sitting still. A 3BR here rents for $1,3...
What is the best real estate analysis formula or combination of formulas that you use? Is it IRR? CoCR? Cap Rate? NOI? Is it appreciation? Whatever you find useful, share your formula and why it is the best. Maybe it will become my favorite.
I'm currently in Arizona and plan to get my first property here but I don't plan on staying here so I'm open to investing out of state but the only thing is that hiring a property manager. Does having a property manager kill your cash flow and is having a property manager worth it with a small nu...
Hi all, I'm interested into speaking with property managers in the Worcester, MA metro area. This would be for management of small multi-families of 3-4 units and 5-10 units. I'm also interested in real estate agents who represent buyers in this area and for these size apartments. Anyone have any...
Section 8 inspections trip up more new landlords in Memphis than rent collection ever does. Here's what it really checks, in plain terms. The inspector is not judging your rehab quality. They are checking health and safety: does everything work, is it safe, and can a family live there without a p...
I have a 4-plex apt bldg with a market value between $350-400k and a loan of $97k. I was looking to do a cash out refi to pay off some debt (less than $25k). I also own a 3 bay SS car wash with an MV around $75-100k and a loan of $30k. I am also looking at doing the same with the car wash. I’ve t...
I'd love to hear what other investors are using to manage their renovation projects, particularly when it comes to coordinating the scope of work and tracking progress. There are so many different ways to handle it, from spreadsheets and shared Google Drive folders to dedicated project management...
Investors! I am curious about 2 things and would love a great discussion and feedback. I am a Realtor, investor, and property manager in Michigan and would like to hear your thoughts on the below, as I am trying to grow and make more connections, find better resources, share resources, etc... 1. ...
I have my eye set on a townhouse in South Carolina. Would you purchase with a newly created LLC? If so how do close with no money
I came across a situation this year that every STR investor should sit with for a minute. Picture an investor who buys a three bedroom cabin in a small resort town, and the deal only pencils because of nightly bookings. 18 months later the city council votes to ban stays under 30 nights for non o...
Jimmy Napier - Fix the Financing Jimmy Napier used to teach a course he called fixing the financing. The gist of it was that an Investor could profit by buying (or investing in) real estate where either a “bad” loan encumbered the property or the owner was unable to obtain a loan at all. Jimmy pr...