All Forum Posts by: Levi Gale

What if you own your portfolio free and clear? Would you decrease the amount of reserves you keep, or refi and readjust your reserves to your preference?
I'm surprised so many on here have such a large DTI, and am intrigued by the use of credit for reserves. I like the info this thread has put out thanks to all that have contributed.

I’m contemplating offering owner financing, but my property is listed on the MLS. Is it worth offering owner financing if you list through the MLS, and if so would adding it after the property was listed hurt anything?

Thank you all for the replies I knew something was weird about that. The sign was put up per my request, but I think I’ll be taking the “Next†advice for my next one.

I’m not really concerned with theft it’s not a bad area. Why would a realtor not want to put a sign up; is he just being lazy? I figured they would want one up more than anything to advertise their services.

Ok so I have a house going on the market soon, and will be listing with a realtor. The home is staged set and ready for looks, and should go on the market tomorrow.

The realtor is telling me that putting a sign up front will let everyone know its empty and risk theft, but my opinion is the sign will get more looks at the house. I want as many looks as possible especially this first weekend, and think the reward outweighs the risk. Any thoughts; is my thinking legit?

I understand your point on waiting and I agree with you, but I wanted to know does the current market change that at all? I mean buyers have plenty of options right now so if you get an offer at your asking price on day one would you lock it up, or try to get a better offer? Does waiting to get more risk the potential buyer? They now have time to think about their options, and look at more homes. But all that is out the window if the bank won’t loan that much.

If you do your due diligence you can assume appreciation; however it would be mighty difficult to predict the future at least for me it is.
Check the demographics of your area of interest; follow the city and county websites, read the local newspaper. If you find out a business is coming to town and will cause an increase in population and create X amount of direct jobs, and X amount of indirect jobs then you can assume with some facts. Like any deal if the numbers are there the risk is lessened so get the numbers.
If betting on appreciation appeals to you then do your homework on your area of interest, and sure you might just be able to have a cherry on top.

You covered a couple of options in your post, and IMO you should figure out what option best suits your goals. The one benefit I think you missed was equity build up, and to me betting on that is much safer than betting on appreciation. You will get your initial investment back via the equity you build while you cash flow. Look at appreciation as a bonus not an investment strategy that’s my opinion.

Because you are an out of state investor I don’t see any reason why you shouldn’t familiarize yourself with several areas. When a deal pops up in an area that interests you perform your due diligence, run your numbers, and jump on it. I wouldn’t limit myself to just locating deals via redfin, however I’m not aware of how good the service is. The bottom line of your post shows you have the right idea; network! Leverage other people’s time to create inflowing deals create win-win situations.

I really can’t say stick to a certain area, because deals are all over the County, and I think this post has already pointed out several. Check them all out, hop on ARMLS.com and research some numbers that apply to your areas of interest.