All Forum Posts by: Billy Daniel

What about construction?  With that schedule, being an agent might be difficult.  If you're unavailable every other month, you're not going to be able to build a client base.  You'll also abandon any clients you get before they make it to the closing table since most closings take 30 - 45 days.

If there is a construction company that would take you one, they could be more flexible with your schedule.  You could pick up some strong construction knowledge that would make you a strong flipper.  You could also look into home inspections or appraisals.

There are many people who purchase out of state!  David Greene literally wrote the book on it (check out the BP Bookstore!).  You want to look into several things, including finding your "on-the-ground" team.

As far as location, the south and the mid-west provide the best pricing (at the moment).  They are typically a little more landlord-friendly as well.  OH has been a hotbed of investor activity.  A $30k down payment will go a long way in some of these states and markets!

I'm a realtor/investor in AR, so if you'd like more information on investing here feel free to send me a message!

I don't think it was the rate itself that scared buyers away, but the rate of change of the rate.  After a ridiculous run up last year, they are fairly stable now.  I think they will remain that way for a while.  I'm not sure more FED rate hikes will have a large effect unless they continue the overly aggressive hikes of the Fall.

The end of 2023 will see rates between 5-6.25%.

So, I just watched The Big Short for about the 20th time and it got me wondering.  Are there indicators out there for the real estate market that very few know about?  I know mortgages are not the same as they were, but is there something else?

My first thought was syndications.  Many of those were bought on adjustable rates that will start coming to the end of their initial term in the next year or two.  On top of that, it seems that a lot of inexperienced operators made the leap and could be in over their heads.

Thoughts? Some other REI sector?

It's the cost of business as a rental owner.  You have to pass that along to the tenant.  Wanting to raise rent by $200/month because you want a new car is one thing, but raising it $200/month because the hurricanes just don't stop is another.

A huge swath of the gulf coast is experiencing the same things, particularly Louisiana!

Welcome to BP!  There is so much knowledge available on these forums!  When you get stuck, reach out and ask your connections for advice.  Most investors love a good real estate challenge!  Let's connect!

Welcome to BP!  There is so much information available here and so many are willing to help.  When you get stuck, reach out to your connections and ask for help!  Lte's connect!

You have to find the balance between catching up to market rents and risking losing your tenant.  The better the tenant, the smaller your rent increase should be, IMO.  Unless you want them out, a $150/month increase seems pretty steep to me.  $50-$75 seems pretty reasonable if they take care of your property and pay on time.

Check out commercial loans.  They require 20% down, but you can have another party in second position (at least with my preferred lender).  We had a deal under contract last year structured exactly as you describe.  20% owner financing (in 2nd position) and traditional bank financing for the other 80%.  Shop some lenders and ask.  It's definitely possible!

I used The CE Shop since it's 100% online.  They also gave me my post-license course at a discount.

The RE exam really doesn't contain a lot of useful information for being successful in real estate.  The stuff about fiduciary duties and real estate law is important and useful, but the other 75% of it is pretty worthless (IMO).  My best advice is to get through the initial exam quickly and focus on the post-license material.  

Find a brokerage that provides solid training and powerful tech.  I'm partial to NextHome since we own the franchise here in our area.  They're big in CA, so make sure you include them in your search!!