All Forum Posts by: David DuCille

 There is a big difference between being an agent/broker and real estate investor though.  Huge difference.  I agree it comes with the territory.  My point is it's been getting very excessive beyond normal amounts recently and I'm not talking about my personal email box, I'm talking about here in bigger pockets specifically.  

 Amen, bonafide real estate people really don't need to put "deals" out to the masses, they have enough relationships to make them happen on their own.

 I think this is the best and most accurate response yet!

This was an amazing resource when i started investing a few years ago. In the past 6 months to a year all I get is spammed by wholesalers.  Has this site gone the way of Facebook and grown a bit too much?  These are "pro" members as well so bigger pockets probably doesn't care because they are making money off of them.  

are there any rules against overt spamming and solicitation on here?  I'm tired of getting bs messages that say "hey I'm a wholesaler in Tampa I got deals". They are always absolute junk...  And the people contacting me are early 20s inexperienced people that haven't really done deals.  They are clearly being hired by someone to essentially cold call/lead generate.  We all gotta do business but it's become over the top lately.  This used to be a site where when you had a bonafide deal you could network with people not grasp at straws.

If they won't pay the increased rent are there others that will with ease and no lost time? Then absolutely increase.  Many tenants get pissed hearing about a rent increase so they start looking around.....and realize your rent increase ain't bad at all.  

are they GREAT tenants?  Not good but GREAT.  I have one set of tenants that are great, she is a bartender, he is a carpenter.  If anything breaks they always fix it and just give me a heads up about it.  Everytime I drive by the house the grass is always cut.  If I ever have to go inside to repair something beyond their means, the house is always tidy.  Most importantly, rent is always paid on time.  Market value says I can raise their rent by probably a good $150 now but it's not worth it to me.  They are super low maintenance.  I may bump them up $50 because taxes have gone up a few hundred on that property.

Agree fully, I wasn't sure what your current house would be considered in your market at 200k.  Here in Tampa that is now definitely starter to low end starter home but would be right in the prime rental wheelhouse.  

You have on your hands something that I specialize in, good problems!  Don't you hate it when you have to choose between making money and making more money? Hahaha

So I would say that based on your age ( btw, I had to zoom in really tight on your picture to even remotely believe you are the age you say!) Your strategy may be to split the difference.  Put a large down payment of say 50% and do a 10 or 15 year mortgage.  Then turn around and buy 1 additional property .  This gives you the best of both worlds, it still let's your money work for you but also limits your families exposure should you pass on. 

3.75 is just such a good rate and while I do feel we are due to have our economic boom end sooner rather ths. Later, things are still rolling along right now, you should easily be able to invest and get a far better return than 3.75.  you mentioned that you own half of your current portfolio free and clear.  I. Assuming the other half has loans that are higher than 3.75% rate so obviously paying them off first would make sense.  Any reason not to keep your old house and make it a rental?  Should easily cover the payment on the new house I would think

Its not against the law but it's against the realtors code of ethics.  There is very little reason why a short sale seller would give these instructions.  They arent getting any proceeds so why should they care how big or little the offer is?  If they still feel this way they should be listing the property at a higher price.  Last but not least to the OP, don't ever initiate a deal with the listing agent.  Have your own agent that represents you and your best interests the listing agent represents the sellers best interests.

 That's because if a condo allows short term rentals Fannie/Freddie won't back mortgages on them.  Basically if a condo but molex.wantsntonallow short term rentals you have to sell to someone paying all cash other alternative financing

Havehave been planning for a while to get into the Airbnb game but the timing was never right for me now the timing is right as I have a rental that is becoming vacant at the end of this month and being that I'm in Tampa Florida winter months are prime time for the short term rental biz. But seeing the numbers that Airbnb is suggesting then I charged and knowing that this particular home is my previous home that I lived in fully renovated and how high end it is I refuse to take such a small money that they are suggesting.friends that also do Airbnb are telling me that if I don't take those small numbers I won't get any bookings. I can't help but feel like Airbnb has gone the way of uber and Lyft the market is so saturated with everyone trying to get rich quick that's driven the prices way down.  I can afford to try it out for a few months and take a hit if it doesn't make money and then turn it back into an annual rental in the springtime which is Prime season for me to get Top Dollar on an annual rental not sure what I'm going to do at this point.  Certainly an active marketing plan outside of Airbnb to directly book people myself and eliminate some of those Airbnb fees would be great but I don't know how feasible that is