All Forum Posts by: Account Closed

Thank you for the insights, we can only hope it gets better! Very surprising that bonds can have such an effect on mortgages!

Hello! I'm seeing that mortgage rates have been rising for the past 4 weeks where 30-year mortgages are at around 7% and 15 year-fixed mortgages are at somewhere close to 6.5% now. I've read that this is because of the yields from the 10-year treasuring bonds which have been affected by the interest rates. Does anyone know how true this is and if mortgage rates will keep going up? 

Hey @Aliya Landers, I see that you are new here. Welcome to Bigger Pockets! Usually the most accurate ARV you can get is through a property appraiser. What I like to do is look at Comps and come up with the ARV myself. It can be slightly time consuming but I usually feel more comfortable with the numbers when I do it myself. And if you are new I recommend calculating ARV for 1 or 2 properties yourself, its good practice!

I found this article by BP on calculating ARV, I hope it helps! : https://www.biggerpockets.com/blog/estimate-arv

@Arn Cenedella congrats on your journey! I've started my own journey about a year ago in wholesaling and I'm working towards the ultimate goal of multi-family and commercial investing. Just the stuff I needed to read, so thank you.

@Miguel Hernandez it's also worth finding out if the place already has an auction date set. Some properties can be in the pre-foreclosure phase for months but once an auction date is set you have a deadline that you need to keep in mind. Also worth noting that in some counties, after a successful bid is made the auction house grants 10 days after the auction for any outsider purchase on the property. I recommend you give your local auction house a call to verify. Hope this helps

@Petar Stojanovski thank you for the recommendation. Managed to check out one episode on organic farming. I enjoyed it, really informative

Thanks for the recommendations @Kevin Hintz, I'll make sure to check those out

Been listening to a lot of podcast lately when I am reaching out to sellers/ marketing/ working in general. I've been enjoying a lot of good ones like Biggerpockets Podcast, Jordan B Peterson and JRE as they help me concentrate, ironically. Was wondering if anyone else is on the same boat, if so what are you guys listening to? Are there any that's worth a listen?

Hey @Calvin Peterson, I am in the South East Florida market wholesaling houses as well, I'm focusing on off-market houses and I'd love to connect with you! 

Have you tried local Facebook groups in your area, they are usually filled with wholesalers. Based on my experience I would focus on Facebook rather than other social media platforms such as Instagram, but its worth the shot to try an connect people from Instagram. 

Also check out platforms such as "Meetups" or "Eventbrite" if you haven't already. You can find loads of online and in-person real estate events where you can meet many wholesalers!

Thanks @Jaime Duron! Doing a title search was always the most important thing for me when I looking at pre-foreclosures/ auctions. And I'm glad to hear that there is another potential list of leads to look at, this information really helped!