All Forum Posts by: Firoz K.
Firoz K. has started 2 posts and replied 6 times.
Quote from @Eliott Elias:
I am shocked your market is still receiving multiple offers. That is not going to last for long. Be patient, it will soon become a buyers market.
Thanks for the kind and supportive words- @Eliott Elias- will continue to learn and wait for an opportunity to come by
Quote from @John Clark:
Quote from @Firoz K.:
Rookie investor here.. just bought my first rental property a few months ago but impossible to buy the second one- even with interest rates over 7% here, every property I make an offer on has 7-10 competing offers with most getting 30-50k over asking. What's one to do ? Keep making offers? Its looking harder by the day to make any cash flow on any of these properties..
Re-examine your investment model. Cash flow is great, but sometimes you can make an appreciation allowance in your model.
Who are the other buyers? If they are investors, too, then compare notes about your investment models and personal aims, risk prferences, etc.
Quote from @John Clark:
Quote from @Firoz K.:
Rookie investor here.. just bought my first rental property a few months ago but impossible to buy the second one- even with interest rates over 7% here, every property I make an offer on has 7-10 competing offers with most getting 30-50k over asking. What's one to do ? Keep making offers? Its looking harder by the day to make any cash flow on any of these properties..
Re-examine your investment model. Cash flow is great, but sometimes you can make an appreciation allowance in your model.
Who are the other buyers? If they are investors, too, then compare notes about your investment models and personal aims, risk prferences, etc.
Quote from @Henry Clark:
What are you looking for? Pick something else.
Example. Let's say you're looking for 3/2. Meeting lots of competition. Switch to buying 2/1 with the potential to ADU to 3/2.
Buy a commercial property that you can convert to MFH.
Fantastic advice, thanks @Henry Clark! Much appreciated
Rookie investor here.. just bought my first rental property a few months ago but impossible to buy the second one- even with interest rates over 7% here, every property I make an offer on has 7-10 competing offers with most getting 30-50k over asking. What's one to do ? Keep making offers? Its looking harder by the day to make any cash flow on any of these properties..
I have had a terrible time dealing with American Home Shield for my primary residence. Anyone else have the same experience. Any recommendation for an alternative in Wisconsin for residential or rental property?