All Forum Posts by: Ethan Gidcumb

 Hey Gina! You can find the article I read here: https://www.attomdata.com/news...

The states with the highest portions of equity-rich mortgaged properties were: Vermont (77.5%), California (63.3%), Montana (60.9%), Florida (60.4%), and Idaho (59.4%). 

The states where homeowners facing possible foreclosure were critically underwater were: Mississippi (12%), District of Columbia (11%), Louisiana (10%), West Virginia (10%), Illinois (7%), and Maryland/North Dakota/Missouri/Indiana/Kansas, all with 6%.

Hey Stephen! In what scenarios do you think House prices will drop?

Hey Zachary! Talking to other investors in CA, I don't think you could go wrong with a LTR if you're looking for appreciation 4 years from now. Also, I know a couple of guys who have STR's right on the beach in Oceanside and they cash flow well; so, if you have the capacity to do so, that is also a very nice option.

Speaking with other borrowers, the best way to go about using private/hard money would be to make sure the property can cover the expenses by itself. I would not go into a high-interest rate payment with a property that would only cover the expenses once you refinance. But, if that is the right strategy for you, best of luck!

When considering how to get the money for the next down payment, have you ever considered networking with other like-minded real estate investors? 

I would suggest a DSCR loan as well because you can get long terms at low rates when comparing it to other hard money loans. As long as your properties produce enough cash flow to cover your monthly expenses, you should have a good chance at going the DSCR route.

Hey Shawn! TitleEase is a company with a great team out of Rhode Island that I got to know personally. I know they aren't in the Savannah area but I figured if you couldn't find one within your timeframe, maybe TitleEase would be a great place to search next. Best of luck!

I like to first determine which areas are seeing an increase in migration. For instance, you can use https://www.nar.realtor/blogs/... to check where people migrated to in 2022. From there, I would also check the population growth, what industries are affecting the areas, and any other local information that might pertain to your niche. Best of luck to you!

I would pick MTR or LTR. I've heard a lot of success coming from MTR when landlords provide housing for traveling nurses. Also, I prefer LTR because that is what I have decided to focus more of my time and self-education on; however, I have family who have generated great returns through STR with AirBnB, Vrbo, etc.

Good morning!

According to Pavan Agarwal on the HousingWire Daily, a Harvard study showed that the average person spends about 41% of their time doing work that a personal assistant could do. This means that you could save around 3.5 hours per day by delegating certain work to another individual. 

My question is: How have other real estate professionals started doing this with AI or even virtual assistants?

Hey Ben! I would guess that this type of question would be answered between you and your lender in whatever agreement you set forth. If you can float the whole rehab and it makes sense to save, I suppose that could be okay depending on how your lender feels about it. But, the draws will help keep the lender in the loop on the progress of the property; so it might make them feel more confident in the project.