All Forum Posts by: David Roberts

I was 3 years old at the start of the bond bull market, wtf do i know about rising interest rates?  Lol

in my experience,  investor friendly homeowner agents don't know jack squat about investors,  i don't care what they say.  If that agent doesn't have investments themselves that's a red flag.  How are they going to know and understand how you want to use your money,  run numbers,  understand desired return? 

Investor agents will understand on the buyer side that you want the lowest price, and shouldnt have a problem negotiating as low as possible since they know this going in.  Investors can be alot of work when they are new so ya better buy something when the deal presents otherwise you will quickly move down the list of a serious buyer.  The agent doesn't get paid until you close on something!

You can get a HELOC rate under 4% on an investment property? I know they do HELOCs on investment properties, but under 4%?

there's no way that's not another investor in your area lol

 Keep us posted.  Ive been on the fence about getting it.  Is he specific about realtors?  It seems most content is about selling products from YouTube,  but he does say alot that its a people thing not a product thing.  As a realtor we sell ourselves!

invest in yourself.  It cannot hurt!

Hi, the wife and I went through Michigan institute of real estate.   It was pretty good.   We did all of it online.   Passed the state exam on the first try. 

How that helps

good discussion, as i watch the US treasury rates tank and so are mortgage rates.

Very interesting time we are in.  In SE Michigan housing is tied pretty tight to the auto industry.  I work for a major supplier.  Alot of other engineers are starting to wonder if we are peaking.  With the auto industry will go home prices around here in my opinion. 

And theres an article on CNBC right now alleging that the FED has notified banks to prepare for NIRP (negative interest rates).  Lol.

Im thinking flipping (with exit strategy of holding in place as a second exit) is the better way to go right now,  what with foreclosure prices so high.   Juat might be that time in the cycle. 

Sylvia, that's not the case.  He's into construction and lives on these jobs.  He does do both homeowner and investor stuff and made it a point to tell me hes done work for lots of other guys in this business and not one of them have 1099d him.   My answer before being cut off quickly was "well maybe they aren't running their businesses properly".

Im sure it was a surprise to him,  which i take responsibility for. I didn't know i had to 1099 until a few weeks ago,  but i still take the responsibility for that.   Constantly learning,  and I'm sure it won't be the last time i find out something late. 

He works hard no doubt and i dont think he was out to screw me over or anything malicious.  Id keep using him if he would be ok with 1099 even if he charged me alightly more.   Hes good.  

When it comes to business i pay everybody i intend to deduct with a check or some other form other than cash.  I like the paper trail just as well so i can go back and look at the checks that the bank shows on my statements.

The roofer was paid by check for both roofs.  

I have only been in business officially for just over a year so im learning.   This is my first tax season and it was due to a BP article about being sure you 1099 all your contractors that tipped me off to it.  I didnt know what I didnt know, but BP saved me again.

According to the roofer, as hes yelling at me, hes going on about how nobody ever 1099s him and I'm acting like he did 15 roofs for me and such. 

I just think he doesn't know.  If he knew the rules i think he wouldnt have called me, he woulda just never returned another phone call,  or he would have said "hey Dave I thought this was under the table" or whatever. 

I appreciate all the opinions.   I learned alot and grew from the experience.