All Forum Posts by: Timothy Lewman

@Chris Jargens here's the Pepsi Challenge of housewraps. https://youtu.be/T55CEuKfdP8

@Jason Crain no that's crazy. Walk away and find another wholesaler who will let you inspect the property.

@Harrison Falwell I had this exact same dilemma, albeit with smaller numbers. Basically, just look at the blended interest rate on the loans and compare to investment return. Which number is bigger? Hint: investment should win every time. If you want to get your loans paid by someone else, a good method for starting out is to owner occupy a multifamily. Depending on how many units, renters will pay most/all of your mortgage freeing up cash for excess loan payments. That's what I would do. Best of luck and congrats on completing medical school!!

@Timothy Lewman forgot the link. https://www.businessinsider.com/housing-market-bubble-risk-ubs-2018-9

USB shows Boston market fairly valued. It's somewhat surprising as prices for Mass overall continue on their tear as "last month the median single-family sale price increased 5.8 percent to $402,000, up from $380,000 a year earlier. The median single-family home price has now exceeded $400,000 for three consecutive months. Single-family home sales in August totaled 6,818 transactions, a 0.8 percent increase from August 2017. Year-to-date, the median price rose 6.4 percent to $389,500 while sales edged 0.6 percent lower with 40,035 transactions." Condo prices showed no releanting either with sales in August totaling 2,618 transactions, marking a 1.1 percent decrease from a year earlier. "Meanwhile, the median condo price climbed 6.9 percent to $365,000 – the highest price ever achieved for the month of August. Year-to-date, condo sales increased 2.6 percent with 16,986 transactions compared to the same period in 2017, while the median price rose 10.1 percent to $375,000." Source: Banker and Tradesman. It's clear that the Feds relentless drive towards higher interest rates are not having any effect on demand on Massachusetts market. This is a great time to invest in Massachusetts real estate.

@Doug Pretorius thanks for the breakdown, I'm trying to learn more about LO. So your cost is 1800 monthly, what are you then leading it out at and the how much down?

@Dennis Haefner I have that book, picked it up 2nd hand on line for $3.99. Its geared for the beginner, talks up the pros and cons of each REI model. Walks through the basics of lease option, which he thinks is the best business model. For under $5 it's worth the read, even if you only get one thing out of it. I'm trying to learn more on these forums as well.

@Jaylen Byrdo dont quit, get some deals under your belt. Wholesaling is a difficult job to pull off successfully and repeat.

@Pedro Hardy this has a typo on the purchase closing costs. Also, make sure you are saving for general maintainance, Cap ex, 1 month vacancy/year, property mgmt. Once you account for everything are you still cash flow positive?

@Fabi Bani direct mail letter introducing yourself and follow up phone calls every couple of days until you get to speak to them. Be persistent but respectful.