All Forum Posts by: Jay Hurst

 I agree, but in this case, historical trends don't matter. All that matters is that buyers feel like rates are high and are reluctant to buy. Also lots of sellers have locked in <4% rates and don't want to buy at 7%

I just read this article from Redfin (Housing Market Predictions for 2025) that predicts mortgage rates will stay at 6.85% in 2025.

That seems like one of the few predictions saying rates will stay that high. Are they way off, or could they actually be right?

In my local market (College Station, TX), high rates in 2024 already caused a big jump in inventory, which created some good buying opportunities. If rates stay high, do you think inventory will keep climbing, opening up even more deals for buyers who are ready to pounce?

What ever happened to dropping interest rates? I thought we were supposed to have rates that were more favorable? We got a small drop last month but nothing worth bragging about.

I was thinking of doing a refi with dropping rates but doesnt seem like thats in cards currently...

Thank you

I'm looking to purchase my first investment property and need help figuring out a strategy that will work for me. I have about $300k in equity (based on a BPO performed in July 2023) but no cash. Whatever I do, I would need to do with a HELOC—effectively financing 100% of the property (down payment and closing financed with HELOC, rest of purchase financed with a mortgage).

But I'm having trouble finding any properties that I could rent, BRRRR, or flip where I would even break even—let alone clear a profit or cash flow.

My question is: When you hear that I'm essentially doing 100% financing, does that make it clear to anyone what strategy would be best? Does that make anyone think, "If you're not bringing any capital to the table then you probably want to avoid this strategy or you probably want to go with this kind of investment"?

Today my thought was it is possible to grow too fast.  

It is possible to buy too many too fast and put yourself in a financial hardship.

Have you ever heard of a startup store that done real good and added another store that done good? The excitement then went through the roof and the owner wanted to do three or four at the same time and the next thing you know the whole ship went down in bankrupt.

Just something to think about.

Thanks for the confirmation everyone. Definitely what I was thinking and sounds like it can be done. 5.25-% rate on a 1.2$ house is definitely more appealing and opens doors up as opposed to 6.7+ rates. 

I saw another builder local to me offering 4.99% financing. 
my question is how or who can offer financing like this on houses I build ? I am guessing there is either a preferred or in house lender with large amounts of credit to get to this? 

I want to learn more. 4.99% for buyers is a game changer selling 6 new construction houses 

Hi,

I have two BRRRR loans with Fixated Funding, both starting and closing on the same day. One loan was locked at 6.9%, the other at 7.1%. However, I just received the closing docs, and the rate on the 6.9% loan has been increased to 7.8%. I wasn't notified about this change until I saw it myself.

When I asked why, they said the home inspection found some issues that were fixed and re-inspected, but I’m confused why this would result in a rate increase. Also, Fixated moved my closing date a few times, but luckily I didn’t have another deal at risk.

Does this sound typical? I’m mainly concerned about the rate change happening without prior notice, especially since both loans started and are closing on the same day.

I’m scheduled to sign tomorrow and close on Friday. Any advice would be appreciated!

Thanks!

New to this community, heard great things. New investor looking to learn a lot. Thank you in advance. 

As I mentioned I'm a new investor. I am creating an llc with a couple friends as we go into this new endeavor. My questions is. When getting a DSCR loan whose credit score is the lender going to use? Will they require all members or just one?