All Forum Posts by: Bryce Henson

@Anna Strausbaugh Thank you! I would love to connect and will reach out soon. I really appreciate your response! 

Hey all, my name is Bryce and I've been a member of the BP Pro community for a few months now. I just finished the BiggerPockets Rookie Bootcamp, and now that it's over I feel like I'm missing an appendage! I live in the Seattle area, and I'm a licensed Journeyman Electrician in both Washington and Idaho (not a licensed contractor, fyi). I've been in the electrical & construction biz since I graduated high school (for 18+ years now), and while it's provided me with a great career, I am SO ready for change. My goal is to continue down the path of real estate investing (I currently own an STR in a resort town in Idaho) and to eventually make real estate investing my primary focus. And while I have learned so much from the BP community, I'm realizing that I really need to be around more like-minded folks who are doing what I would like to be doing! All that said, if any of you are looking for an ambitious, charismatic, energetic and able-bodied individual to help with *almost* anything in the real-estate world, please DM me. Currently I'm working for a residential GC & Electrical contractor and my roles are: Sales, Management, Customer relations, Estimator and of course, field electrician.

I can offer a few hours per week, depending on your needs. To be clear, I'm not asking for anything in return except knowledge and working relationships. I look forward to hearing from you!

Another post with such invaluable information! I really appreciate everyone's input. Such great perspectives and pointers. It appears that with the interest rates rising so much, owner carry will be more appealing to more sellers as they try to sell their homes at the high prices I'm currently seeing. With all the rate hikes, home prices only stand to go down over time.  

@Sebastian Marroquin MIND BLOWN! Wow, I'm sure this strategy has been explained to me before, but the way that you put it out there just hit me differently. So essentially, it's a conventional loan where the seller is financing the 20-30% down payment on my behalf to the lender, and the lender is providing the remaining 70-80% to the seller. And somewhere in there the seller and I have an agreement based on the 20-30% that they provided, yeah? So then that would mean that the balance after that is between myself and the conventional lender, correct? This is kinda bending my mind partly because it feels like the "loan" from the seller is a 3rd party, which most conventional lenders don't like, right? 

Thank you for taking the time to explain your thoughts! 

@Will Fraser @Steve Vaughan Thank you both! This is all great advice. Steve, would you be willing to share an example of one of your offers? Feel free to DM if you prefer! Will, I see you're a broker, while Steve is a rental property investor; when it comes to presenting your offer to the seller, do you contact them personally and present your offer or do you have an agent that works as the go-between? Again, thank you both for your feedback. 

Hey all, I'm a pretty new investor and I have a question regarding owner-carry financing. As rates continue to increase, I'm learning more about creative ways to finance. When it comes to negotiating owner-carry financing, is it uncommon to negotiate a lower sale price along with owner-financing for the same sale? It would stand to reason that the seller would think that because they're agreeing to carry the loan that they would then ask in return that the buyer won't try to renegotiate the sale price, but perhaps that's short-sighted thinking? As always, I appreciate the hive mind and all of your help! Have a great day. 

@Sherief Elbassuoni I attended a get together last night hosted by Leka Devatha, and her guest speakers were saying the same thing. It seems the name of the game right now is being conservative with your numbers while having a solid exit or pivot strategy. I appreciate your input!

@Ryan Kelly That's great advice! I am actually a journeyman electrician by trade, so I do have somewhat of an advantageous perspective from the construction side of things. My biggest hurdles are 1) Coming up with the money for a down payment 2) Market uncertainty 3) Trusting myself and my numbers! Being new to this and being on my own in the process makes things a little extra daunting. 

Again, I appreciate yours and everyone's feedback. This post has generated a ton of discussion which is invaluable!

@Dave Skow thank you for the honest feedback. I'm sorry to hear about the issues your builder acquaintance has been having! That must've been stressful, but at least he came out in the black. The overall vibe I'm getting right now is that if you're buying and holding, this could be a great time to invest, but if you're looking to flip and and you're a noobie, that it may not be the best thing to do right now- which does make sense. There's a lot to think about when considering a flip, least of which is "how am I gonna sell this when I'm done?". I think if the numbers work either way (you can sell or flip the property) it could make sense... but then, as I had mentioned before, there's the whole issue with coming up with the down payment! Stuff is still really expensive!

Again, I appreciate everyone's feedback. Y'all are pros, and I appreciate the opportunity to learn from you all. 

@James Dainard Thanks for your input. I was listening in on your webinar the other day, and I know if anyone knows the market, it's you! 

I'm new to real estate investing (currently enrolled in the BP rookie bootcamp) and I've got my eye on a property. I've run the numbers to flip it and also to buy and hold and I'm *pretty sure* the numbers work out either way. But I'm having a hard time trusting myself... and an even harder time coming up with the initial deposit! I know I'll eventually make a move, but I'm wanting to gain more knowledge before I really dive into something. That said, I'm looking forward to your next webinar!