All Forum Posts by: Tim Healey

Hi All, 

I have some questions for CPA's about how they're handling PPP applications. If anyone has time to chat, send me a PM. 

Thanks

Hi Teren, I sent you a PM with some details of a lender who can help. 

Well I guess you should let the math answer that one for you. A lot of the other guys have given some good thoughts on both options. But if you run the numbers and compare what you would generate by selling and reinvesting elsewhere vs mortgaging it and taking out a portion of the equity to invest elsewhere that would be a good start. 

There are so many combinations you could employ here, I guess you just need to model them and figure out a good solution. I'm sure it's out there, you will be able to improve this situation somehow.

 Hi Eli, Noah is making a decent point. You need to look at your overall situation and your goals too. If you're a high income earner and can gather cash to invest in another place quickly, then sitting on it and taking the roughly 4% return might not be the end of the world, particularly if you get some appreciation too.

If you need this particular cash to make other investments then I guess you should look at pulling it out per one of the suggestions on the thread. 

 Hi Milo, my thoughts probably work in either case.... But renting rooms will get old soon! There was a BP podcast in the last few weeks with a guy who got his start renting rooms in Austin, it's a good story. 

@Cody Harris I'm not too sure about AirBNB, I've never really looked at it as an investment strategy (mainly because I'm clearly too lazy). One of the things I have noticed when I have looked at it (for family to come and stay etc) is that it seemed pretty cheap, and there was lots available, which doesn't seem ideal for investing. It was probably during summer, but you would have a serious low season in the summer. 

Another angle around here is buying something to take advantage of the spring training baseball people. Either fans or players. I have known people who have made good money on short term rental specifically to players. Then maybe AirBNB the rest of the year, or try to get someone in on a 6 month lease. 

The BRRRR thing would be great, it will probably just take time and determination to get your hands on the right property, it will be a needle in the haystack, but it might well be out there.

Tim.

@Milo Mincin If you can make the numbers work on a house hack in your local area, do it! House Hacking is such a powerful tool; in it's ability to get you into properties you may not otherwise be able to afford to live in or own, it lets you rent by the room which can be quite lucrative, and you would certainly learn a lot about management and maintenance. 

Also, House-Hack while you can... It only gets harder as you get older. Moving in with a loved on, having kids, the general decline in tolerance of others that comes with age (meaning you become a grumpy old man) etc all make it harder and harder to do as you get older. I say do it while you can. 

@James Anderson I've been investing north of you in Palm Beach Gardens for the past 7 or 8 years. These days the issue is getting your hands on a place with enough room to get the rehab done and then get the ARV high enough to pull a meaningful amount of money out of it. This have just been competitive in the past few years. Probably just require some effort and creativity. Please share your progress as you move through the process, be great to hear about some local success!

By my reckoning @James Wise has probably done several thousand deals (James.... care to throw a number out there?). Yet there is really very little negative press on him (I looked when I engaged in a deal with him). If he was dodgy, he wouldn't be on a platform like this. The negative feedback would warn anyone off in a heart beat. That's the beauty of this platform. 

And the @Engelo Rumora pants-off ending is nothing less than Champagne Comedy. 

I'm currently working with James and his team. They have been straight-forward and honest. It seems to me that @James Wise brand is all about being pretty brash and blunt about this business. But I think that's probably why people want to work with him. Direct, blunt etc is kind of refreshing in a realtor.