*Hi David at **54:00** you answer on Return on Equity and the advice you gave him can you make a more detailed video on your thought process around equity return doing a cash out vs selling and 1031 into another, when to do either? Thank you* Edit: at 1:00:00 you start explaining exactly what im asking above
I purchased a two unit property in detroit, and i will be rehabbing it. I running into the problem of ARV comps. Most two family units in the area are being work on for buy and holds, so there’s no good comps to compare. My goal was to BRRR this project. Now I’m starting to think 💭 i may have paid to much for it. What would be your advice.
You seem like a cool guy. Listen. Rents are too high. Rents are up 20% in the sunbelt and wages are up only 3%. So next month is slated for the highest number of national evictions ever. If other landlords act irresponsibly it will drive down revenue. Just as your house is only worth what the bank are willing to loan. It's not supply and demand once wages can't support the price. The stimulus, pay plus up, ppp loans, and evictions and mortgage moratoriums caused this
If you have no credit how can you get a loan for a house or a multifamily unit is there anyway to get the loan based on the property and not your credit
Find a lender who can manually underwrite your loan. It’s a lot more work for the lender, but the good ones will do it. What’s the location? Might be able to direct you on where to start.
The analogy that you gave with the lender is so true. I wasted three months/ four months with one and I pulled the trigger right before signing because I seen the okey-doke so to speak. I ended up with a loan officer that knew his stuff and he was able to get us so, much more all around in the deal. Wish we could vet the experience of a loan officer before wasting time. Boy did they try and pull out all the Big dogs the higher-ups to get me not to walk. I wasn't desperate it was just going to require more time and the next lender did it in 30 days as promised and delivered.
I love your answers on the vision for what agents should become. It was refreshing to hear about how you’re running your business and giving more value to clients, especially new buyers. The “speed dating” analogy is spot on and the reason why I think some struggle to see the value of using/paying agents. Most times, it seems the agent is just there to coordinate paperwork and nothing more. Great segment
Dave, is there a risk of conflict of interest when you have so many arms? I remember my mortgage broker telling me there was a rule to keep appraisers separate from the loan process. Maybe inspections also. Thought there was a rule to prevent corruption.
I am really curious how you handle a loan for a personal residence, when you own a lot of rentals you must have a high debt to income ratio... I went to buy a primary residence 4 plex and got denied from debt to income because of my one rental property.
Thank you for talking about the loan officer issues. I feel like I miss out on a lot of business because the borrower is being told what they want to hear from competitors instead of the truth. I like to be upfront about fees and the process because I’ve been through it as an investor while other loan officers are solely salesman.
Dude so my fiancé and I are 23 years old. We have 450k in home equity.. we need help or rather advice. We live in Northern Arizona. I been selling solar for almost a year on a 10-99 and I make solid income. My fiancé works in retail but has been at the same job since she was 18 and has gotten raises and bonuses regularly. Combined We make 100k at least, but it's looking more like 200k due to my income. Our home we bought also has a detached fully finished 2 bedroom guest Casita we plan to AirBnB. Can you give some advice please?
The only big issue is where to get a good cash flowing deal. Prices are up the roof right now. Where to buy a good rental property, for me, is the question!!
You have to buy in a place where where the rental rates are high enough to cashflow. I had an investor client here in VA, who bought a 170k house (2bd, 1bth, 900sq ft) put 20% down ($34k down). Her mortgage was $750/mo and she was able to rent it out for 1450/mo!
I love your description of working with different types of agents... You have amazing examples and verbiage to express the situation. I also love how you tell them how to handle going with a different agent for different situations & explaining how to go about it by giving referrals to the other realtor.
Thank you for all your advice David! I have been following since you started in Bigger Pockets. ¿Don't you think that if the Fed starts increasing interest rats, and they are talking about a 1% increase, could sparkle a big contraction in the market?
There is huge yield in Defi though...Hex is an almost guaranteed 40%...the yield is in fact and reality much much larger than that but I digress....pulsechain is going to dominate right out of the gate
David I have a mobile home park that I'd need partners to join me on this project and I just Google mapped David green team in California and call the number and Kristy Keller is the voicemail and I don't understand why I'm calling the day the green team to be introduced to Christie. I didn't leave her a voicemail and explained that I was calling for the David green team and I left my phone number in the hopes that she would return my call. Just thought you should know since you get so much impersonation
The first caller is yet another wannabe guru trying to build his own brand. That’s not what these shows should be about. His question was just a humble brag and an excuse to get on the show. Poor form.
@@AlexKairoff Oh I get your position on the subject since its legacy... but Im already working on automation to facilitate. No need to pay a real estate agent at all when you list with our automated system :). Give it about a year you will hear about it.
@@Dimrain13 if you thought that , then you wouldn’t make such a misguided statement …lol it’s cool man GL with it …. nothing in life is complicated if people are experts in their field and have self mastery
This is so cringe and makes me so mad😡 Cool. So you guys are bragging about buying multiple homes meanwhile I can’t even land a home in my own city due to being outbid by greedy investors like yourselves. Shame shame shame!
Complain more or do something about it. Want to learn how to out compete others follow me. I'll help you. But quit the bad attitude that's rule number 1
