Anyone here into real estate investing?

#26
#26
mrorange211 said:
Using debt effectively and responsibly will make you rich.
Click to expand...
More than one way to skin that cat and I guess “rich” is arbitrary. I paid my last interest when I was 38 and retired comfortably at 55. I would have hated to of been carrying a bunch of debt through the 2 big market corrections but that’s just me.
 
  • Like
Reactions: Go aeiou and Big Orange#1
#27
#27
yoyoyoyo said:
Strong correction is highly unlikely nationwide. Could it happen in spots, sure. There has only been one nationwide correction in housing prices in the last 100 or so years and that was in 2008. This is nothing like that. Foreclosures are basically nonexistent and that will only trickle back over time. Demand will vastly out pace supply for the next 3-5 years. People that think the sky is falling need to look at factual data and not go off feelings. Using emotion in real estate is how you lose your a**.
Click to expand...
 
#31
#31
BAJAvol said:
My main strategy is the BRRRR. I love finding a piece of **** and doing a full Reno, and pulling the majority of my investment back out when I’m done. Then renting it at a $400 minimum cash flow. Hard to find these right now but my website ranks #1 for motivated sellers. I do flip as well if it’s a bigger house or there is too much money to be made.
I use a private lender now, but I use companies that use DSCR loans to do my refinances. Rates are higher but as long as I hit my cash flow target I don’t care. You just have to know your ARVs, Rents, and construction costs before you buy. You make your money when you buy. I am loving this market correction because people call me every day wanting me to buy their piece of **** house. For flips, look into a reputable hard money lender like Kiavi and Longhorn if they service your area. I also used 401k loans. Paid like 4% on the 401 loans to profit 72k on my last flip.

I own 4 rentals right now that average $425 per month in cash flow. All have been refinanced and I have left a total of $8,700 in all 4 deal combined. That’s like investing $8,700 for a 234% return. Real estate is king

Read BRRRR by David Greene. Also read the book on flipping houses by J Scott as well.
Click to expand...

So much good info here. I appreciate it. Just ordered the two books mentioned off Amazon.
 
#32
#32
yoyoyoyo said:
Strong correction is highly unlikely nationwide. Could it happen in spots, sure. There has only been one nationwide correction in housing prices in the last 100 or so years and that was in 2008. This is nothing like that. Foreclosures are basically nonexistent and that will only trickle back over time. Demand will vastly out pace supply for the next 3-5 years. People that think the sky is falling need to look at factual data and not go off feelings. Using emotion in real estate is how you lose your a**.
Click to expand...
US home prices to plunge ‘substantially’ on ‘cratering’ demand: economist
 
#35
#35
BAJAvol said:
I hope this does in fact happen (unlikely). Because as an investor, I will buy everything I can at a discount
Click to expand...
World’s Frothiest Housing Market Cools in Global Warning Signal

Looks like you’ll know by the end of the year/ early next year. The US Fed started raising rates in June this year (and we are already seeing a major slow down). New Zealand started raising rates in October 2021, and they are currently in free fall with home values down double digits as of June.
 
#36
#36
#38
#38
Land is the investment to go with. The Good Lord isn’t making any more. In west Tn farm land is going at a premium price.
 
  • Like
Reactions: BAJAvol
#40
#40
walkenvol said:
Mortgage rates doubling this year disagree with your statement
Click to expand...
Ok I’ll raise my rents accordingly? Everytime your taxes and rates go up my rent goes up. Voting has consequences 😀
 
Last edited:
#43
#43
Picked up a pretty nice 4/3 in a great area of fountain city this week that I intend to flip.
here are the number break downs
purchase:$155,000
Estimated rehab; $90,000 (going high end)
Estimated ARV: $375,000
I could honestly probably get 400k out of this house but I want it to move quick so I can relax for the rest of the year lol.
 
  • Like
Reactions: Vol since 77, malinoisvol and walkenvol
#45
#45


Should be some deals coming soon. Nashville now on third consecutive month of median home price decline.
 
#47
#47
Big Orange#1 said:


Should be some deals coming soon. Nashville now on third consecutive month of median home price decline.
Click to expand...

I looked into Nashville for some STR investing but it’s way overpriced. Gatlinburg and pigeon forge is the same way. Exploring Chattanooga and Cape San Blas right now for STR
 
#49
#49
wme6uq5bihj91.png


Highest new housing inventory since the great recession. The housing shortage has basically evaporated overnight.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top