All Forum Posts by: Dave G.

@Kevin Moules yeah, some of us need to work harder at it than others. Especially those of us that have $13k of motivation (3% co-broke of $443k). 

Not that you needed one more vote on this, but I'd go shop deals in OH. My last acquisition in AZ was 2017.

Most realtors suck, plain and simple. Find a good one and hang on tight to them because they are rare.

For some people, being a realtor is as close as a person can come to being unemployed (or retired) while still saying they have a job.

$1000 spread between PITI and gross rent? I don't see a deal here. What about Property Management costs since this would be a remote investment. Say that's 8% of gross rents = $270. What about HOA fees of $360/month? Now you're down to $370/month spread. What about maintenance costs & turnover/vacancy allowance (albeit small for the hot Phoenix market but still not $0)? What about special assessments from the HOA? And capex?

Unless I'm missing something, this is a loser. And remember you put $110k down on this deal.

Not trying to be argumentative, just chiming in with my view since there are new investors reading posts like this getting what I consider to be only half the story.

I'm nearing the point to start working with an advisor to discuss a retirement financial strategy. Looking for any recommendations local to Phoenix as I lean to not work this remotely. 

I will only work with a reputable, experienced Fee-Only advisor. Not interested in anyone that is paid any other way than hourly by me (I've dealt with otherwise and there is always a COI whether obvious or buried). Approx 1/3 of our assets are in rentals, so an advisor that is also a real estate investor themselves is preferred. 

Thanks,
Dave

@Isaac Pyle My response to your question is not a No but rather a Maybe or It Depends.

There is nothing wrong with paying attention to a historically accurate, predictive-value metric like the Yield Curve. I do. But it should be part of a basket of key metrics (many of which are local to your market) you should follow to complement the myriad of personal factors that play into when & what YOU should look at investing in.

Example - J. Scott is a very successful investor and he pays attention to the curve (recommend podcast below). And a lot of people pay attention to him as he's an accomplished author and has been a BP podcast guest on 3 shows.

BiggerPockets Podcast 311: 6 Rules for Investing in Real Estate in the Coming Economic Shift with J Scott

But I would also consider that if you're young, with a long-term horizon to weather lengthy market cycles, a pending recession plays a much smaller role in considering investing then if you were nearing a traditional retirement age (50-60 years old?).

Happy Investing,

Dave

Sounds like a contract law situation to me. Hope you have some reserve funds set aside for a legal battle. 

Hope you prevail since the other party sounds like scum.

Quarter million dollar transaction is worth hurting someone's feelings over. 

Follow the money. Do what the numbers tell you to do. Walk now and at a minimum you gained some valuable education with the experience.

You can't expect any meaningful feedback with so little information on your situation provided. 

It's like asking "what tool should I use to work on my car?" providing no more information.

As you look at selling a property, don't forget about depreciation recapture. 

Especially one you've owned for more than a few years. I'd be curious from a CPA on BP about how things would look with, for example, a $20k recapture component is this scenario.

For me, there would have to be a heck of a lot of meat on the bone to burn calories pursuing something like this....