All Forum Posts by: Nick Gann

@Chris Srichankij

If you had alot of people, why is it not rented?

You need to look at what surrounding market supports. And price accordingly.

Owning a business in the contracting world, I don't use owner provided materials. But to be fair rentals are the smallest portion of anything we do.

Where things like sealing and staining are concerned, a homeowner and products from box stores have no place and likely their knowledge is less than stellar when it comes to chemical compounds and one kind of acrylic vs another etc. If for instance the surface already had some kind of coating, the customer is not going to know much about compatibility. And I just get better pricing and quality of product from independent distributors.

The long and short from my perspective is, it probably depends. What service are we discussing, how specific is the situation, and is this a house youre living in or renting out. Among other things those answers would affect strategy.

@Jamie Heinz

Qualifying will depend on what route you go. If conventional most likely youll end up running through your personal finances, etc. However, there are lenders out there that will put you in a 30 yr loan at a slightly higher rate and maybe a couple points and only look at the DSCR and no personal financials. In the end you have to use your own best route. The thing about points and slightly higher rates: if pulling out the money is the main thing keeping you from getting your next deal, then the higher rates are actually favorable in the sense that you have an option to pull out said money. Just work those numbers before finalizing your deals and it's no problem.

@Frank Rolfe

If anyone here can guide you it's this man. Im however many hundred hours into listening to him. GOT TO FIND A PARK!

@Kaleb Woods

It sounds like you should just send the deal my way ;)

 Ok.

@Colleen F.

It's worth understanding that China is a country obsessed with control. Fear is a great way to do that. Could it be that economic losses are far less important for a country like China than an uprising? We have to look at everything China was facing prior to the "infection" as well. Fear, is a very important currency to deal in, unlike printing bills the inflation of fear is not without its benefits to a country like China.

@Marcus Auerbach any relation to Dan from The Black Keys? Love his music!

We always have to do our best to separate the signal from the noise. There's a lot of noise out there.

Beyond not being able to get a recovery stick for a Razer laptop I recently purchased because it comes from China and the coronavirus... I see little impact to local housing markets. Its going to affect widget markets for sure though.

@Mani Poudel

Rent the house out, buy a new house as primary residence... in one year rinse and repeat.

Advice? I'd tell myself to get very comfortable being an idiot. And just keep surrounding myself with as many people as I could who were smarter or better than me in every possible way.

@Trey McKinney Jones

Started out as an investor, then got my agents license. The agent I was using ended up becoming a mentor. So Id say thats a success.

Nothing out of the ordinary happened in that time. But a few things we did to sweeten the deal: he answered some basic questions for us at an in person meeting so we sent a giftcard to a great local bbq spot to his office. He showed us a property and then became our agent on it, toward the end he doublechecked we didnt want to think more on it... we said nope, no need to think and we closed. We discussed our goals for mobile home parks which turned out to peak his interest, now that I ak an agent he and I are acticely looking to take over managing a few and also potentially purchase as our relationship builds. Along the way, we always thanked him for his time and were careful to not overburden him asnwering basic questions, our questions were targeted and specific.

In a roundabout way, while there are many methods to give back and most will be based on how you all jive together, respect and trust will be the main factors that make it a great relationship. Do what you say you will do, and don't rob the agent of their time. You want them excited to answer the phone and have you as a client, not thinking "jesus not this guy again, hes gonna ask me about the paint color inside the house or something."