All Forum Posts by: Dan Grove
Dan Grove has started 16 posts and replied 32 times.
I am planning on scaling down my W2 hours and scaling up my real estate hours depending on whether or not I succeed. I am planning on long term holds for rentals. I am starting with one and then will scale up slowly at first depending on how it goes. I am wary of syndicates and passive investing because I would be too removed from the assets to not have significant anxiety about them. Thanks for all the advice to everyone. God Bless BP!
Quote from @Mike Dymski:
You can get a CD right now that earns 5%...same for US Treasuries (with no work or learning curve involved).
Is this for the BiggerPockes or the SmallerPockets site?
Quote from @Nicholas L.:
i have to ask.
when you say "liquid" do you literally mean you have $360K sitting in a checking account?
or do you have "access" to $360K via HELOCs, other loans, etc.?
you said in another post that you want to BRRRR. do you want to BRRRR?
Both
Post: List of questions to help interview potential team members
- Posts 33
- Votes 13
Perfect! Thanks so much!!!!
Post: List of questions to help interview potential team members
- Posts 33
- Votes 13
Hello BP friends,
I am in the process of building my very first team and have been interviewing many people. During these interviews I often find myself unsure of what questions I should ask.
Does anyone have a list of questions that are good to ask a potential:
1. Agent
2. Property manager
3. Contractor
4. Lawyer
5. Accountant.
It would help me greatly to have a ready made list of questions to ask that I can have ready to go for these interactions.
Getting closer to property #1
Thanks
I am a rookie investor looking for suggestions on good markets around the country that are investor friendly but not too expensive. A real estate agent reference would be awesome also. Thanks
I have about $360K liquid available. I have no real estate investments. If you were in my position, what would you do? Invest in a single family, more than 1 single family, multifamily, etc? Looking for some differing opinions. Thanks!
Post: Assumable mortgage Question
- Posts 33
- Votes 13
Quote from @Eliott Elias:
Do not assume the loan if this is an investment property.
Any reason why not? Its at 3.1%
Post: Assumable mortgage Question
- Posts 33
- Votes 13
Quote from @Wayne Brooks:
@Dan Grove
How much cash do you have? At $200k they will be looking for the $58k difference. You could make an offer with them carrying part of the $58k as a second mtg, but they may not accept.
Yes, it would be great to assume this low interest rate loan. You will have to apply to the lender and qualify just as in get a typical mtg.
Post: Assumable mortgage Question
- Posts 33
- Votes 13
Hey all,
I am going to make an offer on a house that has an assumable FHA mortgage at 3.1%. The sale price is $200,000 and the loan balance is $142,000. The lower rate obviously has a huge impact on the returns.
1. Can I take over he loan?
2. Is it a good idea?
3. What are the requirements?
Thanks so much