All Forum Posts by: Ed S.

Sorry for the delayed response.

Inflation was 1% a month (12% year). The Fed decided the only way to break inflation was to jump the Prime rate (lot of history that drove inflation -- worth the research time). I believe prime capped out at 20.5%, it stopped inflation and just did a gut punch to the economy! Everything here in the Midwest slowed to a crawl - by 1985 the Ag economy was in full recession, lots of farms foreclosed on and a number of banks closed by the FDIC. Hard to cashflow any purchase (or debt on a variable rate) at 18%!

Take door #1 The 30 year fixed. Being a old man, I still remember mortgage rates way way past 10%. Pay the premium (risk premium) for protection.

Worth a try --- LOL!

Ash Patel laid it out on the table. Get to know your banker, sooooo they know you --- goes both ways. Invite your banker for a tour of your properties, market yourselves!!!! Don't chase rates, chase relationships!

Pay the costs for a CPA at least to start up (first year). Ask other investors who they use. My CPA owns rentals, so they know the gig well (in my opinion).

Equifax is hiring IT grads -- LOL! Seriously: You are 22 miles into your marathon, complete the race!

Econ 101 Supply and Demand!

This may sound crazy, I ride my bicycle. I live in a Smaller town, and I use my phone camera and Google Keep. Works great! Very convenient, burns calories, saves gas, and just dang fun! I get a few looks with bike helmet, bright bike shirt, and taking pic's. Just be careful taking pic's with others around. Police will ask what you are doing!!!! Safe riding🤑🚴

This may sound crazy, I ride my bicycle. I live in a Smaller town, and I use my phone camera and Google Keep. Works great! Very convenient, burns calories, saves gas, and just dang fun! I get a few looks with bike helmet, bright bike shirt, and taking pic's. Just be careful taking pic's with others around. Police will ask what you are doing!!!! Safe riding🤑🚴

I would suggest that you settle on a city where one of the partner's live. It's tough (from my own experience), to manage a flip/remodel when you don't have boots on the ground.