All Forum Posts by: Matt M.

I'm seeing guys more active and MORE DEALS from wholesalers with better margins than I've seen in a long time. We've closed on 3 just recently. I even bought one from one of the big boys in town, which I never thought would happen. 

Don't be afraid of an ARM. I've used them a bunch. My lender has a 10 year that hasn't been beat. ARMs get a bad rap from the 1-3 year arms that hit in 2008. There's a duplex just south of me on the market at $650k, so you can find them if you know where/how to look. On market is showings some deals finally.

I'll send you my contact's info. They portfolio some loans, so they have more flexibility.

How much cash do you have? I have a triplex that can go owner carry. There are quite a few other owner carry homes out there if you know where to look.

It's been softening for a while. I do still see multiple offer situations for turnkey homes in great locations, BUT it's not $100k+ over like I saw a lot of 1st quarter. 

I'm closing on one tomorrow, so I'm still buying and several of my clients are too. Most of the wholesale stuff I've seen is junk lately though. Buyers are pickier now, and so am I. 

You should really read up on the 203k loan and its requirements and weigh that against going with just 5% down or so. I would also look into the STR laws regarding ADU use. @James Carlson would be a good resource to reach out to in that regard. 

If you find a deal, I'm a buyer. 

They just had a presentation last week on it with the City.

https://westminster.novusagend...

People... 5.25% is still really good. Wait until we hit 6 this year and maybe 7 early next year...