All Forum Posts by: Chris Mackinlay

We'll see what happens. I live in Midland, oil is the industry here.

A lot of people in town are optimistic about coming out of it. If you've been in oil for any amount of time, you've seen ups and significant downs. Maybe not this significant, but like I said, people are optimistic and hopeful.

I had 3 conversations today with people telling me to "buy oil"!

I can offer nothing to this other than it's an area I am considering. Thank you for posting!

Agreed with the others to increase your "savings account" for this property with higher capx and vacancy numbers.

If the property value is trending downward, is the rent doing the same?

@Felicia Hamilton

Sorry. I missed that!

If you're find paying $2k to cut down a tree, why not see if you can't pay them $500 to not harass your plumbers?

Coronavirus fears could push mortgage rates past 4-year low

https://www.cnbc.com/2020/02/24/coronavirus-fears-could-push-mortgage-rates-past-4-year-low.html

In y'all's experience, will this cause more owner occupied house purchases?

Also, not to sound bitter or wish the worst for people...if someone is going to go into foreclosure, what is the average length of time in their amortization schedule this happens in y'all's experience?

I was driving through a town about an hour away from where I live and thought about buying some property there.

I went through the steps in my mind:

1. Learn market

2. Find realtor

3. Find and purchase property

4. Find contractor to do work (I can't do the work with my job, so this SIGNIFICANTLY increases my repair costs)

5. Find property manager and pay out the nose

6. Make $200/month CF

7. Wonder every day about tenants I don't really know, storm damages that go unreported, and trusting a management company I don't really know.

Or I could buy another in my hometown after saving a few more months.

That $200/month profit isn't worth it to me to invest far away.

@Adnan Dizdarevic

Zillow will sometimes show the selling price.

As far as the terms, connect with a realtor who works with investors and ask what sorts of contracts he/she is seeing.

Ask your realtor or other local investors to help you structure a strong offer.

I'll add that you're not "unable to start". You have started! There is a mental difference there.

Keep stoking the fire and persevering! You'll get as many as you want.

You might try talking to some realtors (not sure if you've signed an agreement form with one). Demonstrate to them you are serious and see if they'll call you as soon as the house is available.

It's a relationship business. There just happen to be houses involved.

Are your contract contingencies comparable to the winning offer's contingencies?