All Forum Posts by: Mike Hurney

@Brie Schmidt I usually track the Median Income to see if it can afford the Median Home Price in an area and once that's out of reach I've noticed a flight to Condos from Single Family houses. Once the Condos are being sold for more than the Single Families it seems the ether is wearing off and a correction occurs.

However

Right now they say that nationally we have the lowest inventory since it's been tracked (1959) and with the large growth in population we'll continue to see Sales Price exceed Listings Prices and DOM to remain low.

So it might be time to "cull the herd" of any dogs you have, only get into short term projects and always check for opportunities in more resistant areas e.g. Cambridge MA

@Olivia Umoren Are you working in the field where you received your degree?

Working in the field where you will be getting your masters?

I think your employer should be paying for any advanced degrees Unless you're in medicine or law where an advanced degree is necessary. by the bye Honeywell paid for my MBA but I paid for my Engineering degree when I started.

@Olivia Umoren Welcome.

Now if you know where you'd like to be in 1 & 5 years we could probably help you even more...

@Timothy Spillane Welcome.

It's easier to help you if you have a more detailed plan

e.g. Where do you want to be Financially and Personally Friday, March 15, 2019??

@Jason Bott then I don't need your contact! and I''m sure if you beat my current prices you'd jack them back up the 2nd year.

I understand you need to make a living so whatever it takes. I like to shop and follow up!

@Ericka G. Your "dear friends" (really you?) should go after everyone involved for this "fell through epically" problem. My table stakes in this would be, if your dear friends aren't interested in going after everyone involved, then why should you be?

By now they should have consulted a Real Estate Attorney with experience and a track record in this field, start with a Title Insurance company for their recommendations.

Again, you shouldn't be interested in helping someone more than they are interested in helping themselves!!!

wanna guess how I know this;-)

Next, what properties have you looked at in the past week?

In our "farm", we just reviewed a dozen Open Houses to help with our "comps" and 15 upcoming foreclosures to see if we can get the notes. Also grinding through Quick Books to update for our 2017 taxes:-( 

@Maksud H. seems high. Once a year I take all my Dec pages, redact the premiums and shop with new insurance carriers, usually worth it.

Can you bundle the 3 family with your own residence and your vehicles?

@Ericka G. Nothing like a lawsuit to get everyone's attention.

If you think your friends have a case they should go for it! I'd go after the Seller, Broker and Bank jointly and severally. Folks have a lot more rights as idiots (Consumers in an Owner occupied deal) than Investors or anyone with a license (professional license not a drivers license;-)

@Leon Henry Can you swing the 25% down?

@Brunno Goncalves As a Flipper you must be "driving for dollars" and see some houses under construction, you could stop and ask, when you see something you like...