All Forum Posts by: Breynan Hammons

@Jay Hinrichs foreclosures may be a while but if this goes on for a while I think liquidity will be the issue for most.

As Warren Buffet said: “Be fearful when others are greedy and be greedy only when others are fearful”.

@Jay Hinrichs yep things are going to get interesting.

@Kyle Bumpus

Just curious why you think airlines and big corporations need a bailout? Small and local business owners only get the option of a 3.75% loan from the SBA, when they are getting money at a 0% interest rate?

Seem to be a large disconnect most people haven’t pointed out.

Would a loan to big business be a better solution than a handout?

@Brian Garlington

Love to connect. I’m out of state as well but have been traveling back to Cleveland every three weeks looking at the market.

Keith Turley simple answer is no, but there are a lot of factors that go into it. A lot of people have stated some of those above. I'll give you something to review. Look at the home values of Detroit, Vegas, and Miami over the past 20 years on a graph. Depending when you bought the house it may or may not have appreciated for you. Again a lot of factors play into that. If you are looking to buy a house in Vegas now understand you are buying when people are over bidding on properties because supply is so low. Does that mean the house is worth 10k over asking price? (Not in my opinion) but no one is going to tell you that because everyone involved in the transaction (bank, agents, sellers) are going to make a pretty penny off of you back while you assume all the risk. I always tell friends look at the true purchase of the home based on the loan over 30 years. Also consider that most people move ever 8 years. Last remember you're really renting the house from the bank (paying a bunch of front loaded interest on the loan). So think of the end in mind when purchasing. What is your long term goal and exit strategy. Good luck!

Miles Kinney we just closed our second deal this week at a $160k purchase price one in Henderson one in Summerlin, happy to share some insight or help if I can. Feel free to pm me or give me a ring.

Basecamp and Harvest (getharvest.com) there is also a time tracker on upwork. Good luck

Najla Sanders unless I'm missing something here, you, the seller is responsible for paying the commission to the agent. Why did your buyer contacted a RE agent?

John Blythe there is some good advice in here and some really bad advice in this thread. I'm not going to point out either one but will say the bank "can" execute the "due on sales clause". I've personally never seen or heard of it executed and I network with over 8,000 investors. My suggest is meet with a "real estate attorney" in your state that has experience. Ask them about asset protection. I think you mentioned you set the LLC up yourself? If that's the case I'm sure you are leaving the LLC open to exposure of being pierced.

Joshua Martin figure out what your goal is first. Are you looking for active income or passive income. Post above have touch base on strategies for both.