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All Forum Posts by: David Roberts

David Roberts has started 35 posts and replied 344 times.

Post: Need help studying or my real estate exam in Michigan

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

I did the online class and did alot of practice exams.  Went over the sections I felt weakest on. 

Even then, the actual test the curves but you could think through it.

I passed first time.   Don't stress too much,  just study hard. 

Post: Foundation Crack - San Jose, CA

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

Check Youtube for some videos on the different cracks and what they mean, and what repairs might need to be done.   Its a great start before calling companies to give free inspections.   It has been my experience (Limited) that foundation companies dont want to give free estimates unless you are the listing agent or the owner.  So, shyof lying, they might want a fee for coming out.  Its an education though,  so might be worth paying once or twice if you cant find someone ro come out for free

I have found raising rent on great tenants is hard to do.  I still admittedly bring emotion into my decisions a little bit.  

If you dont raise the rent though its like taking a dividend cut because taxes,  insurance,  labor costs are all moving higher.  Cost of materials is up, and your unit degrades over time. 

I hate when my bills go up so i hate contributing to someone elses bill going up.   But if i don't raise theirs,  im basically raising mine down the road.  

Post: Mold property

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

love the vanity top in that bathroom

Post: Flipping - One of the Most Risky Strategies?

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98
Originally posted by @J Scott:
Originally posted by @Adam Bartomeo:

@Ian Walsh

Your argument doesn't work. Given that everything is equal flipping is much more risky. Here is an example based on what you have said.

Let's say that you are in your market which you know very well. You buy 2 properties that are the same size, right next doors to each other, put the same amount of rehab into them, everything is identical. For both properties you go over your rehab budget. 

You are now stuck with a failed flip or you rent and make your money back through equity and appreciation. 

B&H wins

So, the numbers don't even matter?  Every property is a B&H win?  No way to lose money with a B&H?  Every house is going to appreciate?  More than inflation?

Sounds to me like you haven't been doing this very long, or you've gotten very, very lucky.

B&H can be a very safe method of investing, but certainly not the way you laid out in your post above...

 One only has to experience buying a dividend stock that loses value,  and then the divy get cut while you are on the red to know buy and hold don't always work.   Holding on for years and years thinking "itll come back" costs you time which you can't recover. 

I like holding,  but i love flipping.  Real estate offers several ways to grow that bank account fast, and i wish i would have discovered it earlier in my life! 

Post: New Member from Michigan

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

hi, welcome, jump in

Post: Two car garage increase prop value.

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

In my neck of the woods a garage adds value. 

And i tend to think itll be easier to sell.   People like garages.

Post: RE Newbie. Vagabond in Detroit

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

welcome to the neighborhood

Post: Finding the right agent

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

I'm not sorry about the experiences.   I became an agent because of it and now i can help others do what i do for myself.   Its a win win :)

Post: Adjustable Rate/Ballon Payment Crisis Ahead?

David RobertsPosted
  • Brownstown, MI
  • Posts 344
  • Votes 98

i tend to agree, although friends of mine that bought their homes with ARMs ten years ago while i bought with a fixed rate let me know how smart they are lol.  You would think the rush is to the upside with ARMS these days but rates just continue to fall.

I tend to think its a good time to leverage up now while rates are low, with fixed if you can. You would think rates would have to go higher sooner than later, but who knows.  If rates go higher them paying cash makes more sense than leveraging.

Ive personally gone to a flipper mentality lately given that the higher prices go, for me to cash out a higher dollar amount to get my cash back lowers cash flow and the risk is to the downside on prices,  so i want to be in and out.   To get the better return it seems you have to move down a class of neighborhood and i dont want to do that.  

But that's just my opinion. For once in my life,  can i be in cash when an asset falls? Sheeesh lol