All Forum Posts by: David Roe

@Ronnie Allison

Rich Dad poor Dad

Cash Flow Quadrant

Quit Like a Millionaire

Richest Man in Babylon

Never Split the Difference

**** Your Feelings

Third Circle Theory

Un**** yourself

Permission To screw up

The three day affect

@Caleb Heimsoth

It’s a created unemployment, the government sent everyone home. This has never happened before! You can’t compare a water bill from normal living use to a water bill that you filled your pool with and think your water bill will be that high for each month to follow...

@Joe Cassandra

2008 people “lost” their jobs, 2020 the government fired 33million people by closing everything. 
it’s proven now that COVID was already in the USA n November&Dec Ohio claims they had cases in Early January.  
I don’t know one business owner here in Ohio that will wait longer than the State allows or plans on doin more than they require.  They are protesting and opening anyway against orders by the state.  

Far as unemployment now we have people collecting a $600 bonus to not work, of course they will stay on it till it runs dry, my nanny got paid $500 a week to work, now she makes $856 a week on unemployment...  Guess which one people will chose?  

Any way, this post isn’t about COVID just curious if all the other states and markets are slow to lending and it sounds like it is.  

Dave  

@Jeff S. This isn't even comparable to 2008 in the least bit, 2008 had record Unemployment and unemployed (there's a difference) Mortgage companies were financing 125% LTV Oil was High.... List goes on. Entering 2020 the Economy was the strongest it has ever been, Stock market was great, Unemployment lowest in history and unemployed lowest in history, oil prices moderate, lending normal. Then a virus that started in Nov Dec of 2019 was seen as an opportunity to collapse a legacy, inflated numbers were pushed onto the public to force unconstitutional closing of schools, businesses and travel. Death rate is 0.024 if you get it... and 0.009% Chance to both get it and die from it. Once the election is over the pandemic will be over and everything will return.

I understand lenders are protective of their money and only want sure bets.  Just seems like they are over doing it with this virus.  

My market is unaffected by COVID Sales are still within normal numbers from last 2 years, growth has stalled a little.  Even so when people don't buy they rent.  

Seems like getting lending is over complicated and no-one wants to make money. I have done 5 deals on my own in the last 3 years 3 in the last year. 720+ credit score across all 3. And about $28k in the bank, LLC with steady income and I make over 130k on my 9-5 w2 job.

Just bought a SFH 3/1.5 40k Purchase, 40k rehab ARV $135-140k Closed on this on May 1st and will be a FLIP

Also on contract to close a Duplex 4/2 1800sqft per side for $30k Purchase, $40k Rehab and ARV of $115-120K Rents are 850-950 per side a month... scheduled to close May 18th and will do a BRRRR

Every hard money lender i have contacted is non responsive, slow to call back or no products because of COVID-19

I've done my past houses with my own money, doing two at once with out funding will be difficult, but it seems no-one wants to lend?  Every one else see the same problems?  

Dave Roe

Depends what you're doing... 

STR aka AirBNB Co-cross sex renting is normal and normally no issues... ( all doors have Digital Locks)

Recovery homes or Safe houses... etc need to be single sex: dont want sex abused people, or drug recovery, or alcohol recovering mix of sexes in one house...  

Assisted Living aka older retired folks the mixed rentals are ok, but need some sort of live in nurse/management to prevent or attempt to prevent bad situations....

Co Living long term rentals are ok and are actually becoming popular.  I'm wanting to do one here in Ohio ... something like this... 
https://coliving.com/what-is-coliving

@Jesse B.

Yes currently until I get to many to do so

@Ricardo L Knight

Posted above, thank you and good luck to you also

@Robert Ellis

2/1 and yes Dayton does well. Lots to do in Dayton with Colleges, WPAFB, Art, down town, drinking, food, river walk, 70/75 corridor.

It’s not a vacation spot but it’s still busy.