All Forum Posts by: Carlos Lizarazo

@Zeke Liston

I have been doing some research about that and recently an agent guesstimated what my house is worth without and official appraisal. she doesn’t think I would get much on the refi but houses are selling for a lot more than she appraised my house.

Yeah we are going to look into refinancing and get my home appraised but people are just paying way over what houses are worth right now. 

@Mei Ling Schulz

Ok sounds good

Originally posted by @Mei Acosta:

Originally posted by @Carlos Lizarazo:

Originally posted by @Mei Acosta:

Thank you so much for your input!! I wouldn't buy if I sold my house. It is like you said "In my particular market it is a complete bloodbath bidding war where buyers are willing to pay egregiously inflated prices including over  appraised value to secure a property...". I'm thinking I would rent. I believe even tho I'm new I can make profits from my OOS investments after running the numbers. I guess I have to get over the fear and take action.

If I wanted peace of mind like you mentioned I could also just keep my house and still invest my savings (50k) and start small. I just thought the smart thing to do would be to take the profits from selling my house. What would you seasoned investor do in my place?

 '

Great! Now no one can predict the future of course but if your house has appreciated this quickly it will very likely continue to appreciate (much more slowly though) over the next several years. Perhaps it would be wise for you to analyze your area and projected appreciations.. My parent's own their home in Seattle where they could sell for a KILLING but then would never again be able to get another home in the same place and dream of the same type of equity.. If you goal is ultimately to buy and hold then frankly, that's exactly what I would stick to (again if your predictions of the area support this). Does that make sense?

I appreciate your comments and it does make sense. thank you 

How does one analyze the projected appreciations ?

Originally posted by @Mei Acosta:

Thank you so much for your input!! I wouldn't buy if I sold my house. It is like you said "In my particular market it is a complete bloodbath bidding war where buyers are willing to pay egregiously inflated prices including over  appraised value to secure a property...". I'm thinking I would rent. I believe even tho I'm new I can make profits from my OOS investments after running the numbers. I guess I have to get over the fear and take action.

If I wanted peace of mind like you mentioned I could also just keep my house and still invest my savings (50k) and start small. I just thought the smart thing to do would be to take the profits from selling my house. What would you seasoned investor do in my place?

 '

1. I bought the property for my family with no plans to sell at the time. I recently fell in love with real state investing specifically with buy and hold. I have been saving as much as I can to invest but being so new to investing (fear and lack of knowledge) I haven't pulled the trigger. I have been reading a lot of books and analyzing deals on a daily basis. My market is too high right now which led me to consider selling my house.(100K) I have been studying Ohio and the numbers would be great over there.

2. As far as my standard of living I wouldn't buy right now. I'm thinking of renting for now until the market isn't so crazy. I also have to get my wife on board with selling our house.

3. I want my business model to be buy and hold but to make it work it has to be OOS. I never thought of selling my house but I don't want to pass on the opportunity of making that much money. I figured the equity plus my savings could jump start my investing career.

@Joe Villeneuve

That’s a good point Joe. The only issue I’m having is trying to get my wife on board with selling. Also we would have to find a place to stay. I would like to use the equity to invest in Ohio as an oss investor. I’m still educating myself as much as I can and doing research. I think I might rent if I do sell my house.

I have a dilemma..I purchased my first house 3 years ago. The market is crazy as we all know. I'm a new investor and I have been looking to invest in a rental property (no success). After speaking to my realtor I learned that if I were to sell my current house now I could make a profit of 100K after all the fees are paid off. But, I want to be a buy and hold investor. If I were to rent my house and purchase something else, I would have a cashflow of $300 a month. what would you do?

@Daniel A.

Thank you so much for your advice. It was really helpful

There a piece of land (1.6 acres) listed for $40900

In SC. it’s been on the market for a year. It’s requires and engineered septic tank. I know the seller is highly motivated to sell. What would be a good starting offer during COVID times? Cash or financed ? TY