All Forum Posts by: Aaron Barber
Aaron Barber has started 4 posts and replied 62 times.
Post: how often should you buy rentals
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
1. Whatever works best for your situation. There is no wrong answer. Could be 1 a year. Could be 1 a month...
2. You don't necessarily NEED a realtor at all. But I definitely would not use one that isn't familiar with the location I am investing in.
Post: Looking for smart lock recommendations for an Airbnb
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Originally posted by @Anthony Angotti:
Originally posted by @Aaron Barber:
Hello, I am Looking for smart lock recommendations for an Airbnb. Any other tips or tricks are appreciated.
I want a lock that is reliable, and that makes it easy on me and the tenant.
Thanks!
Do you need to be able to change the code remotely? I like Schlage options
Yes, I need a lock that i can change remotely, preferably through my phone
Post: Looking for smart lock recommendations for an Airbnb
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Hello, I am Looking for smart lock recommendations for an Airbnb. Any other tips or tricks are appreciated.
I want a lock that is reliable, and that makes it easy on me and the tenant.
Thanks!
Post: COVID HAS ONLY INCREASED MARKET PRICESS!!!
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Oh interesting. New Mexico and Texas. No attorneys used here.
Post: COVID HAS ONLY INCREASED MARKET PRICESS!!!
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
what do you mean attorney review? I never use attorneys when buying properties.
Post: Refinance Quotes - What Interest Rates Are You Seeing
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Originally posted by @Matthew Mueller:
For NOO on SFH, I have been quoted 3.875% on 75 % LTV with one lender, and 3.375% on 70% LTV. Has anybody been able to get a rate better than 3.875% on a NOO Investment SFH?
I locked earlier this week with low VA rates. 25% down, 1 pt 3.35%. But even with 1 pt their fees were the same as many others because they dont charge an Org fee.
Post: Refinance Quotes - What Interest Rates Are You Seeing
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
I just closed on a refi for my primary res. 2.5% no pts through north pointe bank. 15 year loan
Im currently locked in for a rental 3.35% 30 year buying 1 point low VA rates
Post: Who do you use for PM of a short term rental?
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Las cruces NM
Post: VA loan or not? Pros and cons?
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Originally posted by @Steven Macdonald:
Ok thanks Aaron. Nice! You you were able to use your VA loan a couple times after freeing it up? Or were you able to use it twice?
I used it once on 2 properties. You have a max $ amount as a benefit. Lets pretend its $500K. You could buy 1 home at $300K and then later buy another home for the $200K thats left from your benefit. And I haven't done this but im told once the home is paid off, you can get a 1 time reset of your VA loan and start all over.
Post: You have 6 months to liquidate your assets
- Rental Property Investor
- Las Cruces, NM
- Posts 65
- Votes 38
Originally posted by @Thor Sveinbjoernsson:
Again, please stop with the personal attacks to anyone to does not agree with every word you write. Also please stop generalizing. There are plenty of examples of people buying at the top still being under water. See examples below that took 2 minutes to find:
1. Sold for 2.3 million in 2007 - now on sale for 2.2 mill. You invest that at 8% avg return for 12 years and you have 5.5 million today. Thats 3.2 million dollar loss - https://www.zillow.com/homedetails/35-Muscogee-Ave-NW-Atlanta-GA-30305/35901424_zpid/
2. Sold for 3 million in 2008 - now on sale for 2.8 mill. you invest that at 8% avg return for 12 years and you have 7.5 million today. Thats a 4.5 million dollar loss - https://www.zillow.com/homedetails/1220-W-Wesley-Rd-NW-Atlanta-GA-30327/35917213_zpid/
3. Sold for 2.6 million in 2008 - now for sale for 2.8 million. you invest that at 8% avg return for 12 years and you have 6.5 million today. Thats a 3.9 million dollar loss - https://www.zillow.com/homedetails/2969-Andrews-Dr-NW-Atlanta-GA-30305/82626237_zpid/
I do realize there are plenty of examples of houses being valued more now than at the top in 2008 but I am reminding people to be careful.
You do realize that most people buy houses with loans right? Your math is fuzzy because you are acting like they paid for those million dollar homes in cash at the top and then sold at a loss later on. So yea they could have invested that $ at an 8% return for 12 years. But it would have only been whatever $ they put down... Not the full value the house sold for.