All Forum Posts by: Josh Autery

@Yolanda Thomas is this a personal deal or business?

You should list it on the MLS AND notify investors in the area. Let me know if you need help listing on the MLS.

@Bryan Tasumi

I think @Jon Ree said it right. I can't imagine a scenario where buying new builds would be profitable unless your area is experiencing huge appreciation.

For many/most of us investors, betting on appreciation is too risky.

Anyone investing on both sides of the border? 

I am wondering how complicated it is to manage both states taxes, PM, etc...

WOW! @Jordan B.  that does sound like a great deal!!

Is your lender local? My short-term goal is to find some better lenders for expansion...

@Jennifer Salazar

Like @Dawn P., I use COZY.co and its a great free service! I also use local Facebook groups for the majority of my advertising. I also list on the MLS sometimes.

If you list on the MLS, you should be prepared to pay a small fee to a realtor who brings a tenant.

Facebook groups have probably been most visible/responsive place and it is free. I think the Cozy/FB combo is a pretty effective route.

@Danielle Brown You might have to reference one of the videos to get a more specific answer, but...

Many times investors focus on working ON the business rather than IN the business, that may be what he is referring to.

Also, I think he has been working with some fellow investors in his area.  If he is mentoring a deal and not doing the leg work, then he would be an investor.

@Matthew Hamilton

Yep... make sure you check for lenders who offer FHA alternatives. There are mortgages that are built similar to the FHA style (less than 20% down with PMI), buy many/most of the other loan packages will allow the PMI to be dropped after the LTV reaches >78%.

While FHA is a great investing vehicle for a new investor, it may not be the BEST option.

@Matthew Hamilton

@Ben Wilkins makes a good point. Refinancing is definitely still a viable option for "removing" your PMI.

However, make sure that you also plan for a second round of closing costs.

Also, should the bottom fall out of the market in your area, you may not be able to refinance at your current valuation.

Finally, you should take a long hard look at interest rates.  We are currently in a pretty low interest rate environment 4% range.  By the time you are ready to refinance (maybe 3-5 years) we may be looking at rates closer to 6% or higher. That 2% difference may outweigh the benefits of refinancing.

That being said, I am not implying that the buy is bad.  If you 'only' make 68 dollars a month, you may still be coming out way ahead when you compare to not ever having house-hacked at all!! Just make sure you're looking at all the angles over a good 5-10 year horizon.

Technically, @Joshua Rolfe you don't have any right to put up signs or advertise for that house until you close, unless you have made other arrangements in the contract.  The property isn't possessed until closing and funding.

The same, however, can be said about buyers cleaning the house and/or moving things in before closing.  It happens sometimes and nothing generally happens, but it is taking a risk.

Probably not worth the risk imho.