All Forum Posts by: Bryan Devitt

I haven't looked into OZs in a while and last I looked they were so confusing that I have ignored them since. Do you have any links to more info on funds? I doubt I will invest in any but I am curious about them just so I am no longer ignorant when they're brought up. If my portfolio was larger I would probably be more interested in them but I have developed a plan for how to use what we have over the last few years so deviating from that plan would take a lot at this point

Before this even started the Federal Reserve adjusted their inflation target from 2% annually to 2% averaged, so this year when we were at 3% even using their BS numbers they were still trying to push it higher. That was before they started printing this much money. I think the only "safe" bet is gold, even with how volatile it has been over the last couple weeks as people panic. There are other riskier assets that I think should go up but they are far more of a gamble so I am using our retirement money for those. Personally I have been in short ETFs for a while now so every day the market is in the red I am grinning ear to ear. When it hits the bottom I will pull out of those and spread it around to stocks that I think will recover very well over the long term (vacation type stocks) that were hit the hardest so far and will probably continue to go down more over the next couple months. With all of that said, in the next year or so I think will be prime buying season for property, so you have to weigh how much worst case is for inflation vs worst case for anywhere else to put cash right now and see which one you feel better about.

@Andrea Cole I don't own STR but I don't expect a full refund because a show/concert/expo was canceled. Are hotels in the area giving full refunds? I am of the philosophy that if you wanted a refund in the future you should have bought insurance.

 I will take a day and spend the couple hundred dollars for a flight to make sure I don't get scammed out of $10-20K. 

@Jonathan Newsome there is one reason people need to see things for themselves... Clayton Morris. All your "boots on the ground" were in on the scam. I wouldn't buy a piece of property without at least a 30 minute walkthrough

I wouldn't and here is why.... the market is pricing in a 100% chance of a 0.50% cut by the next meeting (18th?) and a 51% chance they will be at 0.00% in April. So there is a very low chance rates will go up any time soon with a very large chance they will continue to drop in the next couple months. If you're going to be upset that the rate goes below 2% in two months, then I wouldn't do it. If you will be happy about what you saved and not care about a large drop later, then go for it. Personally I am gambling and holding out for a while longer 

$200-400/month with $50k in equity is good if all goes as planned, even if you don't get any cash out at refi it is literally free money every month and equity in trade for sweat equity, I will take that ever day. 

Is that $10k what you will pull out at the refi after the BRRRR is done? How much equity will there be when it is done? What do the rent numbers look like? I would also start low and see what they say. If you start at 10% down/8% IO they might ask for 15%/12%. If you start at 5%/5% they won't try to jump you to 15%/12% hopefully.

If you put a tenant into your property that can blow your appraisal within 5 months of moving in (which would be very tough) then the least of your issues in the future as a real estate professional will be getting that refi done. You say no one talks about it but literally everyone talks about it, just not for long because it is a non-issue to most. You either deal with the 6 month season or get around it. 

 There is no right answer to that question. Personally I would rather anything major be taken care of and inspected before purchase. Others would rather credit at closing and hope to get it done cheaper once they have possession. Just make sure you have enough in reserves for anything that isn't taken care of because if it is going to break, it will be in the first two years, probably 2 months really but if you count on taking the profit to pay for repairs after a year or something like that, it won't make it until when you planned.