All Forum Posts by: Marco G.

@Michael Needle

You’re worried about buying a value add asset and being stuck with it in case there is a downturn, but don’t have the same worry about the more appropriately priced income asset with lower cash flow?

It sounds like an easy decision to do the condo and take that money and do the next deal with $300k instead of $100k in your bank account.

@Jesse Simpson

Not to sound brash, but the best use of your time is to call banks and credit unions, not posting here. Different banks in different regions have different criteria. If you have more than 20% equity in your home and can qualify, you will be able to get a loan. On what timeline? It depends on the institution’s criteria.

@Jack Zhuang

I bought at the peak of the market in 2015, right before it was about to go down. Pretty much anyone who bought in the last 4-5 years bought at the top right before it was about to go down. And here we are, right before it’s about to go down.

Thankfully, the area I invested in “at the top of the market cycle” has appreciated around 35% since then.

Hopefully this post doesn’t jinx the domestic real estate market.

@Kendrick Salazar

Too expensive, you can find better rates and lower fees. Try bankrate.com’s mortgage rate search to get an idea.

@Trey DeJohn

You have more flexibility on roommates than tenants regarding rules. The ones you mentioned are very reasonable and non-discriminatory.

@Kevin Santos do it! Many people start out this way. I used craigslist. Make sure you can get along, a roommate is very different from a tenant!

Have multiple vacancies that need all new kitchen appliances. Home Depot comes out to about $1100 per set without refrigerator for stainless (range, hood, and dishwasher.

Anyone finding better deals?

Following a hail storm my roofing contractor performed inspections on three properties directly adjacent to each other (call them #1, 2, and 3) and found hail damage. I made claims on each with my carrier, and each was assigned a different adjustor.

Of the three, two adjacent ones (#2 and 3) were approved. One of the three (#1) on the end was denied, upon a second inspection by a field adjustor.

My contractor was beside himself and advised that the adjustor was “walking right by golf ball sized hail damage” and not marking it. Since his initial inspection 3 weeks, 4 other houses on the block have gotten hail-induced roof replacements per my contractor.

Has anyone been in this situation? I tried talking to the adjustor after her inspection but she was unmoved and subsequently closed the claim. Any tips would be appreciated, I plan on calling the supervisor first thing Monday.

I did in a 2bd-2ba with a roommate. It can be tough living with someone as an adult, but it was easy when I was working 80hrs a week and single though ;) Re Airbnb - is make sure the CCR’s allow it. Mine did not and the HOA docs were from the 70’s.

Lower payment should lower your DTI. The ding from credit check should resolve in 60-90 days.