All Forum Posts by: Lowry Coe

Hello,

I bought my first home about four years ago in my early twenties. At the time I was even greener than I am now and I’m still pretty darn green.

I didn't put 20% down and was forced to put PMI on my loan. I understood this and was okay with it at the time. I thought that I would be able to refinance once I got to a certain amount of equity and remove the PMI.

Fast forward to the present. Wells Fargo tells me that my PMI is for the entirety of the loan and there is no way to remove it. Which sucks because I'm still making $50/month on the home and without the PMI I'll be making a few hundred.

What are my options to remove this PMI? Can I get a loan through a different bank and pay off my current loan?

Any ideas are welcome and thank you for the advice.

I have a business where I provide virtual reality film study solutions to college and high school football programs across the country. We have a web based platform that syncs in real time with our iOS app and allows coaches and players to view 360 practice footage directly from their phones.

With coronavirus situation all schools are currently out for at least a few more weeks and I have time to consider other use-cases for our technology. I am aware of the matterport, which I would consider a bit more of a luxury than what our product would be (main difference is the 3D rendering feature) and I’ve found a few other VR resources but none seem to have the mobility part down like we do.

I guess what I’m asking is: what are the gaps/voids in this technology currently? Is there a future for growth in this space?

Regarding potential adoption, it would take any agent (with no experience in 360 video) about 30 minutes to go from taking photos/videos to having them on the app for viewing to distribute to the public.

Thanks for any insight you all have!

Explain to me like I’m 5:

the decision to lower the federal interest rates today and how it will effect home buying for me?

Girlfriend and I might be moving to Tulsa from DC and have been doing a ton of research into the city recently. We are both shocked at how nice Tulsa seems. Looks like a lot of things are happening and the city is trending in the right direction.

But it’s still Oklahoma, I know nothing about it have never been before. Friends of mine in Dallas told me that locals have started to spend long weekend in Tulsa and that it’s pretty cool.

Anyway, if we move there we’d like to buy two properties out of the gate.

What are your thoughts on Tulsa for rental income or for flipping homes?

Can someone breakdown refinance best practices in the BRRRR method for me? It's one of those things I hear on the podcast or read/conduct research on and like I hear it and I get it..... but it's just not clicking for some reason.

Can someone give me an explanation like I'm five? Or can I get a real world example with some numbers so I can visualize it better? 

Thank you!

Me and two to three other buddies are considering investing in some properties together. We each own one home of our own and want to invest in more but we each only have about 10k of disposable income right now. We figured we could pitch our money into an LLC and invest together with about 40-60k to make a larger impact.

Two questions:

1. Would I be better off taking my 10-15k and investing in something on my own?

2. If we decide to invest together, what are the pros and cons of investing as an LLC vs just investing together?

Thanks for the tips.

Appreciate the advice y’all! Quit my job to start a business so money is tight. Very easily panicked these days 😅 I’ll probably hold tight on it as long as I can keep it filled. 

@Russell Brazil would love to get your thoughts on Frederick? I purchased a home there about three years ago with the hope that the money keeps flowing up 270 like it did to clarksburg and Urbana. I’ve also heard from some friends who work for various builders that there seems to be a lot of upcoming investment in the area.

Got it. Sorry relatively new to this, I thought I was providing a lot of information. It's about 2 miles from downtown frederick. The community is approx 600 units of condos, townhomes and single family homes. All built in the last 4 years. So far (according to the Zillows and other products like it) my property has appreciated by 1% about 20-40k depending on the site you use - and seconded by my real estate agent. 

It was sort of a general question since in my mind a 7/11 isn't exactly the kind of construction that I imagine would be built in an area that has a ton of high aspirations. Like I imagine the property developer has a checklist of like Whole Foods and Starbucks and moves on down the list trying to sell the space. My thought process was that 7/11 most likely isn't very high on that list and they may have exhausted or failed to convince some of those flagship brands to move in. 

That's my general thought process. 

Hello,

I purchased a new build in Frederick, MD about three years ago. It was my first home (still my only home) and my goal was to househack it until I was ready to leave the DC area. I had roommates paying about 75% of my mortgage while I lived there for the first two years and over the last year I moved out and a new tenant is paying 100% of the mortgage for me. I'm breaking even but gaining equity. 

When I purchased they told me that once the residential section was complete the construction on commercial and retail properties would begin. They told me a grocery store, bars/restaurants, coffeeshops, some retail, and even a hotel would be moving in. Breaking ground on that side should have begun after three years based on the timeline that they provided when I purchased my condo. We are past the three year mark by about 7 months and nothing that was promised has begun. However, I've been told that a 7/11 is now being built. 

Looking for some some advice. I purchased the house with the intent of it being a stepping stone to something in a less expensive market that I could use for some additional monthly income. My goal was to hold on until the community was built and hopefully get some appreciation out of it. With this latest news, I'm thinking that maybe I go ahead and move on. 

My question is; is the 7/11 a sign of more things to come? Or is it pretty much a desperate attempt by the developer to get SOMETHING in there?

Thanks for the advice. First post! Long time podcast listener and hoping to get more involved in the BP community. 

Cheers!