All Forum Posts by: Chris Webb

Hi @Daniel Sanchez, I created an excel spreadsheet that works out some of the initial math on my properties. I look at at CoC return as my main metric, basically I want to know how hard my money is working. I check the market everyday and it is only about 20 minutes to review. Let me know if you ever want to take a look at it.

Chris

I admit that I have not found an off market deal, but my strategy would be to direct mail owners from the county website if possible. I know when I was in Tucson, you could find the owners on the assessors website. 

UPDATE:  Given what is happening in the world today, I am not sure my prediction of 50 BP will be true, it might only be 25. We'll see. 

Hi @Joe Villeneuve, I think you may have misread the post. I said look for great or "better than average" deals.

I am saying that someone is investing in every market and earning a profit. I agree that if you cannot find your metrics in one place look at other places. However, I would also argue that you need to know your average deal and see if their is movement in to different inflection points. This cannot happen by looking at a market only a few times and then returning a few months later, at that point it is to late. Knowing your average deal is what is critical and often overlooked by investors. 

Hi @Anthony Arender, I would ask what is an average deal in the market you are looking in. There is someone who is earning a profit and they probably bought a great deal. However, you cannot find a great deal until you know what an average one looks like. Review your market and run your ConC calculation for a few deals and look for similar numbers. If you find a few that are similar, that is probably average. Now just look for deals that are better than the average. Good luck and keep the faith, REI is a long term play and the deal of a lifetime happens weekly.

Would you use a Tenet database that follows the tenet like a credit score? Credit score measures likelihood that someone pays debts; this would measure the quality of the tenet. I am also curious if something like this exists already.

Hi @Jacob O'Malley, I think @Grace Walser can help.

Hi @Ron Riffe, the questions I have are What is the level of income that you will eventually need from RE?  Also, you mention appreciation, what is your plan with that? Are you going to sell in 5-6 years and pull cash out? Turn it into an annuity?

To answer your questions – Is that a reasonable way to think? - yes, it is reasonable to think that REI can supplement your retirement.

What else should I be considering? I would not fully discount leveraging REI, the leverage is where you can experience high growth.

If that was your situation, what would you do? I would focus on a 10 year time frame and really focus on recycling money so I did not have to put all my cash into every asset. Once I did retire, I would focus on four years of growth and then retire with multiple properties bringing in monthly cashflow.

Keep the faith if you are on BP and all you see is "Fix and Flip" or "Rehab to Riches," REI has several ways of allowing people to earn income and wealth. Find your lane and focus on it and you will succeed. Let me know if you have any other questions.

@Brandon Montgomery there is definitely upward pressure on rates, but I would expect some upward pressure on demand as buyers come off the sidelined and purchase over the next few months. Your time table is tough as I am not sure this pressure on demand is going to last until July. Getting the Refi down with comps is going to be critical. Best of luck! 

Hi @Hugo Flores, you are at the point where you need to be. The only thing about this point that sucks is the waiting, lol. As @Chris Davidson suggests, saving and paying down the mortgage are great options and they are really unexciting. However, if the goal is financial freedom, they are necessary. Keep the faith, this is a long term play and you are doing a great job!