All Forum Posts by: Calvin Thomas

@Jay Hinrichs  I think that assumes the banks will lower the fees.    Also you can make the same argument for brokers that people make to favor the relator model (i.e. you get a better deal). I am not sure it is true in either case. I also think you can get a bank loan in most states and I don't know what the split is on how many people do. Basically, the big lending companies like rocket and quicken have pushed the home buyer away from local banks and that in part changed the market. My parents weren't going to a mortgage broker, they went down to the local bank. So that was the climate of the 50/60s. We live in an electronic world so people don't favor doing that anymore. And as a builder don't you have a prefered lender who is easier to work with that you refer cliente's to.

@Calvin Thomas Grant funding I think will actually increase prices as the grant money comes from taxes so you are paying it anyway. It will drive up prices to compensate. Other people will want to profit. 

The real thing that will decrease housing prices is increasing supply, either by building more homes in an affordable range (and therefor probably smaller). Or you decrease demand.  Less people become willing to live in high priced areas.  

@Calvin Thomas

agree with you on one.  on two, the institutional buyers...  as far as I can tell, i think this only affects certain markets - Atlanta, Charlotte.  i can't tell how much they've contributed to the increase in prices.  certainly haven't helped.

https://www.fastcompany.com/91215924/housing-market-wall-str...

Hi All,

I would like to hear your comments about the following property, which I think, based on the analysis I made, seems to a be a potential good investment:

* Purchase Price: $98,000
* Monthly Cash Flow: $310
* Annual Cash Flow: $3731
* CoC ROI: 15.86%
* 5-year annualized return: 15.35% (with a profit if sold of $25K)

Also, what are some of the disadvantages of buying old houses? Is there any particular maintenance that is required in a regular basis?

Something I noticed that is making me doubt about making an official offer is that it seems to be in an area with high crime.  

Appreciate your comments.

One or two cans of this and you're all set! $5/can. https://www.homedepot.com/p/Spectracide-18-5-oz-Wasp-and-Hor...

Has anyone had a successful relationship with BongoStays for either furnishing your STR property or management of that property? Since signing a contract with them I am unable to get anyone to answer emails or phone calls and am curious of others experiences.

I will be closing on my 1st STR/MTR this month. I am sooooo excited but also nervous. It is a 1940s 2 bed/1bath that has been renovated by seller. They put new hardwoods throughout the house except in the 2 bedrooms which has new carpet. Arrggg. Question. Should I replace carpet with hardwoods so that they are continuous throughout house? Cost approx $3000. The other STR in my area mostly have hardwoods throughout and I personally don't like carpet which I feel many guests may feel the same. Also, having to interrupt stays to replace later doesn't make sense. I know in LTR the thought is to keep carpet until it gets messed up and then replace. Just want to get thoughts from experienced STR investors.

Thanks so much 

April in GA