All Forum Posts by: Will Barnard

Great. I enjoyed speaking. Anytime, you are welcome to contact me Matty.

Heather,
Another option for you is to auction your property. I use auction companies who have a 95% success rate as opposed to the MLS/agent success rate of approx. 53%.

Luther, I couldn't agree more with your post!

My pleasure Rob.

Jon makes a great point as well. When I pointed out the 20% down figure, it was not intended to imply that was the standard necessary on a commercail mortgage, only as an example. The DSCR Jon mentioned is one of many figures the commercial lender will scritinize/examine. Also note that in this current lending market, lenders are wanting a higher dscr than the past of 1.2, however, even if you exceed this mark, does not guarantee you will qulaify for the loan. As I said, there are many factors the bank will look at.

Originally posted by EarnestMoney:

So Jason,
Do you want to sleep soundly or gamble on a bigger return?

You can "sleep soundly" and still obtain good returns. You can earn good returns without "gambling". I find this statement to be just another common metaphor that lacks foundation or any proven results. There is no question that RE is a sound and profitable investment vehicle. The choice to use leverage or not does not constitute "gambling" "risk" or any other catch word or catch phrase people enjoy using. Those statements show the presence of fear, which is the most common trait and discourager of success.

Barbara points out exactly why each and every investor should hold on to their wallets anytime a guru is within a mile or two.

Thanks for the correction Matty!
Great to see you at Rosie's investment club meeting and see you in person.

Brian,
While your question is broad, the answer can be quite complex and depnd on a variety of factors. First and foremost, do not buy in a market that stands to lose up to 20%. Secondly, the location and what you should buy depends on your strategy and goals (are you short term or long term, cash flow or future appreciation/net worth, etc.) YOu could always buy homes at 65%-75% below current market value to protect your "cash down" Even if the market went south further, as long as you bought right, you are safe. The other option is to buy and hold for the long term, not considering the amount of cash flow (so long as you are not negative) and wait it out until the market has not only recovered, but appreciated. At that point, the sheep will be buying which is your cue to sell.

Reasons to buy now (assuming the right pruchase is made): cash flow, future upside appreciation potential, immediate tax deductions, and the current buyer's market makes for good deals.

Local property managers, RE agents (investor friendly), and the following websites:
www.apartmentguide.com
www.apartmentratings.com
www.apartments.com
www.forrent.com
www.ziply.com
www.rentometer.com

Hope that helps!