All Forum Posts by: Chris Webb

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! 

Hi @Anthony Parsons, two things. One, you can use your VA loan for more than one home. I have a home in FL and one in TX with VA loans on both of them. To do this you will have to talk with a good lender who understands how this works ( i have one if you need their contact info.)

Two, if you do not intend on buying right now, I would keep the low interest rate on the rental home and refi when you plan on buying in the future. Conventional loans will have higher rates unless you buy them down. Great job asking the question and using your benefit to improve your financial security.

I am in a similar situation in that I sort of fell into investing. Now I cannot wait to buy my next home, let me know if you have any questions.

Chris 

I see it playing out like this -> 0.5 % higher in March  to shock the market and 0.25 for the next few meetings. They are going to cause a recession to combat inflation like Volcker did in the late 70's/ early 80's. 

The aggregate amounts look outstanding. However, we are now a payment society. Average length of payments would be a better gauge. Buying a $400K home on a payment of BLANK over 5-8 years and then trading up does is not really accounted for in the metrics listed here. Same goes for car, student loan, and other payments. 

With the better than expected jobs report last week and the new CPI report and given the Fed’s dual mandate, I think at least a 0.5% rate increase.

I am curious what has the impact been on your BRRRR projects in your target area? Have you been waiting on windows? Lumber? What are your cost issues? Has any of this made it to your bottom line? I hear horror stories locally, but I am curios as to how this is playing out around the US.

Hi @Grace Walser, congrats! Buy and hold is sometimes looked down on here on BP, but don't worry there are several of us B&H investors here. Best of luck in 2022! 

Hi @Robin Pentecost, I do not know what coliving is so I will have to listen to the podcast. I do have my ear to the Lynchburg market as I live in the area. I have yet to see very good cash on cash return, which is my one metric, however I know that it can exist here. I would be happy to chat with you if you are ever in the area, let me know. 

@Kathy Corressell, That is great! I invest out of state and I believe I would not be able to do it if I hadn't built a team in the states I invest in first. I am in Texas and Tallahassee right now and I am going to build my Tallahassee portfolio over the next few years as the yield is higher there. Keep up the great work!

Hi @Kathy Corressell, that sounds great! Are you already investing in Miami and Indianapolis?