All Forum Posts by: Mark Delgado

Quote from @Noah Bacon:

Hey @Mark Delgado!

You can find the download from Dave's IG post here!

 hell yeah, thank you Noah!

Quote from @Nathan Gesner:

Quote from @Mark Delgado:

Sorry! BP sometimes cuts my messages short because I use a cut/paste for common questions.

Check out File Place: https://www.biggerpockets.com/...

The link is located in the footer of every page on the left side. This is an area where members can share spreadsheets, forms, documents, pictures, and more. You may find something there.

If you find a file you like, be sure to leave it a review! 

 Thanks for that link. Doesn't look like Dave uploaded it there, but maybe I'll find an older version of it. 

Quote from @Nathan Gesner:

Quote from @Mark Delgado:

//file

Hi Nathan, I'm not sure what "//file" means

Hi All,

Back on April 9th, Dave Meyer posted a reel to his ig account asking "Real estate is harder than it used to be…so is it still worth it?" In that reel, he showed a shot of an awesome looking spreadsheet that was helping him analyze an on-market deal his agent had sent him. I messaged Dave on ig and he promptly & kindly replied that it would be uploaded to the BP resource hub for Pro members. I've searched for that spreadsheet every day since, and I can't find it here on the BP website. And I've noticed in the comments section of his ig post that I'm not the only one who focused in on that spreadsheet. Does anyone here have a link to where it can be found on the BP site?

Thanks, Mark 

Quote from @Jay Hinrichs:

seriously ???  if your a young realtor like I was  started at 18  and got my brokers at 20.

how are we going to qualify we dont have income yet..

And what about the area you live in..  lets say you live in Cleveland or Columbus and a perfectly good house not in the hoody can be what 200k 250k..

Now lets say you live where I grew up Cupertino and well perfectly good house that is not in the hoody ( although there are not Hoodys on that side of the valley) is 2 mil plus. 

how is that going to work.

And not everyone wants to own a home.. just like not everyone wants to be a landlord so are agents who dont want to be landlords not suppose to sell income property>.  Like me rentals are way down the line of what we like or invest in. 

This reminds me of a fellow agent that gave out advice to new agents: If you don't make over $100k in commission your first year, you should quit.

Worst advice I ever received as a new agent. 

Most of us start at square one and move onward and upwards from there. People dishing out crap advice or proposing ridiculous limitations are speaking from positions of fear. Not a good look. 

Hi Taylor, are you planning on 20% down? 25% down? or a higher amount? And what's the max price you're looking for? 

So many people want a repeat of the 2008 bursting bubble because they have regret over either 1. not having purchased any real estate or 2. not having purchased more real estate while the market was bottoming out. Because of this pent up demand, that is salivating for another "once in a lifetime" opportunity, I doubt we will see it again anytime soon. That being said, make sure you're storing away some dry powder just in case it does happen.

Quote from @Greg R.:

Mark, rather than cashing out on all 5 properties, maybe just cash out on one, and purchase (1) STR in NC. A lot less risk in this strategy and you'll be able to gauge whether it's a good idea or not. Yes, rates might go up to "x", but I would personally advise a more measured approach as opposed to the "all in" method. Who knows, maybe you do the one, learn the ropes with STR and a when you're ready to do more the rates might dip down. I personally feel like we are near a market peak, but I don't think there will be a big crash. My opinion is that the market will likely stabilize and perhaps a moderate correction in home prices.

 Hi Greg, thank you for the reply. I like the idea of testing the water first before jumping in. I don't have any experience with STRs, so I need to do more research on it. I read the bigger pockets book on them and that had a lot of great info. My hind sight has me wishing that I had completed the cash out refis last summer when rates were below 3. But you're right, overreacting at this point isn't wise. 

Quote from @Joe Villeneuve:

Quote from @Mark Delgado:

I live in California and I'm debating whether or not I should complete a cash out refinance on 5 properties that I own free and clear. In this scenario I would pull 60% out of each at a 4.69% rate which would result in roughly 1.2m cash out. If I do this, I'd reinvest the money long distance into 5 additional SFR LTR properties at $240k ea in North Carolina. One item that has me reconsidering is that the CA rental market is a lot stronger/higher than in NC. So while all refinanced properties will continue to cash flow, my monthly net will decrease by about $1,200 a month. If you were in my shoes would you still complete the refinances and move forward? Or would you wait for rates to go down and then refinance? Or would you not refinance at all and use the annual cash flow to more slowly increase the portfolio? Thanks in advance for your replies and advice.

~ Mark

So, what you're asking is ,"should you refi on these 5 properties, even though your accumulative cost to buy each one will go up, your cash flow will go down, and you will lose money.

Hi Joe, thanks for replying. I saw in a different post involving a STR that respondents advised that as long as the property being refinanced continues to cash flow after equity has been pulled out of it, it is a no brainer to complete the cash out refinance and buy additional properties. When I ran that scenario , it resulted in less monthly cash flow than I currently have. But do others with more experience feel that the potential that these additional properties have for appreciation compensate enough for this short term negative impact? That's the question - and it is partly influenced by the debate of whether or not we are near a market peak. But that is a separate question that no one has an answer to.

I live in California and I'm debating whether or not I should complete a cash out refinance on 5 properties that I own free and clear. In this scenario I would pull 60% out of each at a 4.69% rate which would result in roughly 1.2m cash out. If I do this, I'd reinvest the money long distance into 5 additional SFR LTR properties at $240k ea in North Carolina. One item that has me reconsidering is that the CA rental market is a lot stronger/higher than in NC. So while all refinanced properties will continue to cash flow, my monthly net will decrease by about $1,200 a month. If you were in my shoes would you still complete the refinances and move forward? Or would you wait for rates to go down and then refinance? Or would you not refinance at all and use the annual cash flow to more slowly increase the portfolio? Thanks in advance for your replies and advice.

~ Mark