All Forum Posts by: Bryan Clement

Hello BP, 

Recently I've noticed my motivation to do things is declining, and after a serious self-evaluation, I've come to realize that a lot of my lack of motivation has to do with my fitness and eating habits. Does anyone else notice a correlation between their physical condition or diet and their every day work success? What do you guys do to keep yourself focused and in the game? Thanks! 

@Stephen Thomas don't know how helpful this would be to you but if you haven't maxed out your HSA contribution you could do that also. Might help a little! 

@Josh Bustle leave the equity "in the property" and get a line of credit on it. This way, you can have that debt available even if the values of the properties drop, and, if you don't use it, you won't be underwater on your mortgage. I can't remember who said it on the BP podcast but the idea is get your credit lines when you don't need them. You'll tend to get better rates and higher loan values. Have fun! 

Go the house-hacking route with a duplex. IDK what Canada's version of FHA, USDA, or VA loan programs offer but if you can get low down payment on your personal residence, do it. Then, you can free up your capital to then go and buy another duplex or three or four houses! Good luck!

@Samantha Miller I had a similar experience with mine... except my lender required an extra $2,500 down at closing with two weeks notice! Hang in there, maybe use this as an opportunity for renovations of said rooms! That's what I've done, and I am about to lease my SFH to a 12 month lease. It'll have a good ending, just wait it out!

@Brandon Ribeiro if you are in a rural area, try an RD loan. Those can be 100% financing for SFH. My wife and I had to put down about $2,500 total cost after the new homebuyers' assistance program, whih ended up being 1% down, including fees. They also don't do home inspections on your property unless you go past due, so you could feasibly rent it out without needing to refinance.

Popcorn, anyone?

one of the key factors to property values (especially multi-family) is population growth. Even in a market downturn people still need a place to live, and people still have kids graduate and move out of their parents houses. The only other option is homelessness, which in my market (Maine) isn't viable. Price downturns should only happen in places with severe oversupply of new builds where the market can't sustain it: even then, the population will eventually grow to fit the additional supply.