All Forum Posts by: William Fields
William Fields has started 8 posts and replied 17 times.
If per se you had to be either which choice would be the best and why ? Are the tax laws different from either or ? If said agent/broker was working really closely with an investor what benefits could be expected ? Pros and cons ?
Post: This may be a dumb question….
- Posts 19
- Votes 3
Quote from @Russell Brazil:
Well why wouldnt you just not cash out refi, not incur the cost of the refi if you're going to sell?
Post: This may be a dumb question….
- Posts 19
- Votes 3
Hey, just a thought on cash out refinancing and selling a property. Is that something that could be done typically or no. I know of people cash out refinancing and holding the property but couldn’t you sell it after the refi ????
Post: Brand new to real estate investing.
- Posts 19
- Votes 3
Quote from @Michael Smythe:
Beginning investors need to STOP believing all the fluff about rental investing, especially with the overheated real estate market trending to historic norms. Many believe unrealistic assumptions and often apply those assumptions to the wrong property classes.
In our OPINION (always verify your area for yourself!):
Class A Properties:
Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.
Vacancy Est: Historically 10%, 5% the more recent norm.
Tenants: Majority will have FICO scores of 680+.
Class B Properties:
Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.
Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.
Tenants: Majority will have FICO scores of 620+, some blemishes, but should have no evictions in last 5 years
Class C Properties:
Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation. Can try to reposition to Class B, but neighborhood may impede these efforts.
Vacancy Est: Historically 10%, but 15-20% should often be used to also cover nonpayment & evictions.
Tenants: majority will have FICO scores of 560-600, many blemishes, but should have no evictions in last 2 years. Verifying previous 2-years of rental history very important!
Class D Properties:
Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciation
Vacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.
Tenants: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
Make sure you understand the Class of properties you are looking at and the corresponding results to expect.
Post: Looking for local real estate investor clubs
- Posts 19
- Votes 3
Hey, I’m lookin for local real estate investors in my area. Anywhere around mobile, Washington, and Baldwin county.
Post: Brand new to real estate investing.
- Posts 19
- Votes 3
Quote from @Jared Boundy:
Welcome and good luck @William Fields. You'll figure out the best way to start in your market (or perhaps a nearby one). Prices are all relative. For a 2-3 bedroom starter house like you mentioned in my area, you'd pay more like 550-600k.
In that kind of market, what exactly would be your initial investment strategy. Buy and hold, wholesale, etc…
Post: Brand new to real estate investing.
- Posts 19
- Votes 3
Hey my name is William out of Washington county Alabama. I’m looking into getting into real estate. I like the thought of single family homes,but in todays market I feel like I wanna go multi-family dwellings. Prices in my surrounding areas are relatively high. I was looking on the mls. 180K for a 3 bed 1 bath house.1050 sqft. It’s insane.