All Forum Posts by: William Byers

Find some hard lenders and get some projects under your belt.  Banks don't like investors generally.

Water resources.  We can survive without oil, but we can't live without water...

@Jon Holdman and other world economic nerds...

You might enjoy following the World Economic Forum.  I can send a link to your PM rather than post it here.

I'm glad to see this post provided an opportunity to share some really insightful things beyond pure RE. I agree with @Roy C.  @Jon Holdman in the respect that our economy will continue to evolve and be driven by ever increasing automation and efficiency. Big data and consumerism is what is driving this machine (2/3 of GDP is consumer).  One thing that will not go away is the need to feed and house people. 

@Roy C. has your brother in law ever compared amazon (google/facebook, etc.) to the Matrix. 

Thanks @Jon Holdman I'll double check that next time I copy and paste.

@Account Closed Isn't that a Benjamin Disraeli quote?  One of my favorites. Two others of his I like:

"Nurture your mind with great thoughts; to believe in the heroic makes heroes."

"The secret of success is constancy of purpose."

Take heed investors - "the majority of millennials (59 percent) would rather rent a house than purchase one." according to the recent article below...and there are 80 million of them.

http://www.msn.com/en-us/money/other/why-millennia...

The article linked below highlights the 2015 predictions for housing by Fitch Ratings analysts.

http://www.housingwire.com/articles/32625-fitch-6-...

1. Home price growth will slow.

2. Interest rates WILL rise in 2015, but it won’t be as bad as you think.

3. Rising rates will cause a decline in mortgage volume.

4. Delinquency rates will improve.

5. Prepayments will slow down.

6. The rate of homeownership will remain low, permanently.

Note that homeownership is predicted to remain low, making a case for buy and hold investments.

I had a moment while waiting on my delayed flight in Louisville this evening to catch up this thread, and it's interesting the reaction to what I believe is fairly common in most markets.

New investors/wholesalers believe they can put out some craigslist posts and some bandit signs, get a phone call from some "motivated" buyer, and get it under contract before anyone else. They haven't really assessed true ARV or repair costs, or considered what a buyers exit strategy might be. Do they even have a max offer in mind or just try to get it as low as the seller will come down at his kitchen table the first time they meet.

I didn't mean to question anyone's manhood or the extent of everyone's global buyers list, but if this thread offends you, then it obviously strikes some chord.  I will continue to credit those that have mastered the craft of WS because it's probably the hardest part of the business.  It's where the value is created and everyone down the line benefits.   

@Christopher Salazar 

Motivation is what drives this business as we all know, and I love the thoughtful discourse because in the end we all just want to make a living doing what we love (at least that's what motivates me).  I truly mean I provide constructive criticism, and offer my assessment of a deal and why it doesn't work for me, or my clients.  If I can show them what it takes for me to consider a purchase, we both win long term.

Check out the site

http://www.ccim.com/ 

It requires completing a curriculum, passing a test and building a portfolio of investment deals completed (I think the current threshold is $20 million, or 20 transactions total).

@Tiffany Noble 

I respectfully disagree that I "slam all wholesalers in one rant" and buy in another. I know it was early morning when I was commenting, so I went back to read my comments and here is my intent and my basic position, exactly quoted.

“I give anyone credit who goes out and works hard to put together a deal. I am happy to pay a WS for the value they create finding and getting a true deal under contract. But I pay them for "value created" not effort.”

If you are co-wholesaling, or whatever the gurus are currently calling it, I don't and can't do business with you because I am licensed. I deal only with the party having equitable interest. Period.