All Forum Posts by: Noah Wright

Brandon, I totally get where you're coming from. Dealing with unreasonable reviews, especially when you’ve done your best, can be frustrating. Your instinct not to reply is valid, especially since you already have a strong base of positive reviews. Most prospective guests can indeed see through an overly picky critique.

However, there are ways to respond to critical reviews that maintain professionalism and avoid coming off as defensive:

1. Keep it Short and Professional: A brief, polite response shows that you care without getting into the details. Something like, “Thank you for your feedback. We strive to provide the best experience possible and will take your comments into account for future guests.” This reassures potential guests that you care about service quality without engaging in a back-and-forth.
   
2. Address Any Legitimate Issues: If there’s any valid criticism hidden in the hyperbole, acknowledge it briefly. This shows you're open to improvement but won’t let a picky guest's minor grievances dictate the narrative.
   
3. Avoid Emotion: Keep the tone neutral and professional. A calm response reassures potential guests that you handle issues maturely and are focused on their experience.
   
4. Future Guests as Your Audience: Remember, your response isn’t just for the reviewer—it’s for potential guests who might read it. So frame your reply as something that reflects well on you, even in the face of an unreasonable complaint.

In the end, trust that your positive reviews will outshine the rare picky one. Being selective about when and how you respond is often more powerful than addressing every single critique.

Quote from @John Patrick Lasher:

I am in the process of purchasing 3 properties all right next two each other. 1 multifamily and 2 commercial office space of which we plan on using a significant portion of for our medical practice. Coming up short on 20% capital. Would be interested in some ideas to bring that number down. 

Kinda hard to make $760,000 appear out of thin air, haha. There's hope:

1. Seller Financing: If the seller is willing, you could negotiate a deal where they finance a portion of the down payment, often called a "seller carryback." This reduces the amount of upfront capital you need.

2. Mezzanine Financing: This type of subordinate financing can help fill the gap between the primary loan and the equity you're contributing. It's often more expensive but can work if the cash flow from the properties supports it.

3. Cross-Collateralization: If you have other properties with equity, you might be able to use those as collateral to secure better loan terms or additional funding.

4. Partnership or Syndication: Bringing in additional investors or partners could help you raise the required capital. This could be structured as equity or a preferred return to your partners.

5. Retirement Accounts

6. Wealthy People You Know / Are Related To...

Good luck!

Hi Rohit,

Congrats on completing your first flip! Managing costs, especially with landscaping, can be tricky. Here are some ideas that might help:

1. Front Yard First: Since curb appeal is critical for renters, focusing on sod in the front makes sense. It creates a great first impression and you can delay the backyard until cash flow improves.

2. Mulch or Ground Cover: For the back, you could lay mulch or gravel temporarily. It's affordable and helps prevent erosion while providing a cleaner look compared to mud.

3. Partial Sod or Seed: If sod feels too expensive, consider seeding instead. It’ll take longer to grow but saves money in the short term.

4. Artificial Turf: If you're open to alternatives, artificial turf might be a long-term solution. The initial cost can be high, but no maintenance or water costs afterward.

Good luck with your project! 

Quote from @Felicia Richardson:

Hello! I need some lender insight. I bought a Duplex in August 2022. I reside on one side and I Airbnb the other. I'm outgrowing my side and I want to buy a Single Family Home.

Would I have to get a secondary home loan therefore having to put down 10-20%? Can I qualify as a First Time Home Buyer and utilize FHA or similar programs?

Thanks in advance!

Hi Felicia!

Congrats on your duplex purchase and your Airbnb side hustle! Since you already own a property, you wouldn’t qualify as a first-time homebuyer anymore, so FHA loans with their low down payments may not be an option. However, since you're planning to buy a single-family home to live in, it would be considered your primary residence.

For primary residence loans, you typically won't need to put down 10-20%. Conventional lenders often allow down payments as low as 5%, especially for owner-occupied homes. Keep in mind that each lender may have specific requirements based on your credit, income, and other factors, so you’ll want to check with them directly.

I don’t do conventionals but I’d recommend reaching out to Brandon Croucier with All Loans Funding on here for those he’s really great. 

Good luck!

Quote from @Griffin Malcolm:

Hey everyone, I'm in the refinance step of my first BRRRR and am thinking about how I can fund my next deal. I had to put about 25k of my own money into this first deal between the down payment, agent commission, inspection, closing costs, and holding costs, so I'd like to get as much of that covered as I can on my next deal. I'm familiar with how a hard money loan is structured, but structuring a deal from a private lender seems like the wild west. Is it purely interest? Points and fees like a traditional bank? Obviously would change from person to person, but I'm curious what people have used before that has been effective for both parties.

Ultimately, my vision is partnering with a private lender so I can spread my funds across multiple deals at once and scale quicker; I'm really happy so far with my agents, contractor, and refi lender, so I feel like getting a great lender would be the next step for me. Thanks in advance!

There are definitely a lot of ways to structure a deal, and several abstract factors can come into play. To make things more concrete, it helps to get specific. For example, sharing details like an example property address, how much of your own capital you're able to contribute, your goals for the property, and what your exit strategy looks like can all help potential lenders better understand the situation and make informed decisions. The more clarity you can offer, the easier it becomes to align with the right financing strategy.

Quote from @Account Closed:

Hey Daniel,

I ran some numbers for you using the Cashflow Analyzer Pro ...

 This is such an amazing community, just another example. Thanks for sharing that tool John, really fantastic 

Quote from @Account Closed:

Quote from @Noah Wright:

Quote from @Account Closed:

Election…

Surely you’re not implying politics are involved ? That would be absurd /s

Hey Kim, welcome to the world of real estate investing! 🎉

It’s awesome to hear that you and your husband are ready to dive in. Frisco and the broader North Texas area have incredible opportunities, and it sounds like you're already doing some great research on your options!

Whether you decide to rent your current home and move or buy an investment property to rent or flip, having the right financing strategy will be key to making sure your deals are profitable and sustainable.

Here are a few loan options that might help based on your strategy:

1. DSCR Loans (Debt Service Coverage Ratio) – If you're looking to buy a rental property, this could be a great option. DSCR loans are based on the cash flow of the property rather than your personal income. This can be really helpful if you're planning to scale up your portfolio or if traditional financing methods don't work due to self-employment or limited traditional income.
   
2. Bridge Loans – If you're leaning towards flipping a property or doing major renovations, a bridge loan can give you short-term financing to get the property ready for sale or refinance. These loans are flexible and designed to help investors move quickly on properties that need some TLC before hitting the market.
   
3. Cash-Out Refinance – If you plan to rent out your current home, a cash-out refi can unlock equity to help fund your down payment on your next property. This is especially helpful if you've built up significant equity in your current home and want to leverage it to grow your portfolio without tying up all your cash.

Since you're based in Collin County, you're in an ideal market for growth. I’d love to connect and chat more about how you can leverage these options based on your goals. I specialize in investment property loans, and I’m happy to help you figure out which loan type would fit your strategy best.

Also, regarding your question on meetups—there are some great real estate investment clubs in North Texas (Dallas REIA, for example) that host regular networking events. I used to live in McKinney and there are great communities to meet seasoned investors, agents, contractors, and more. Might be fun to organize an outing to Top Fun Ranch, they just had new zebras :)

Feel free to reach out anytime, and let’s get you closer to your first deal! 😊

Best of luck to you both!

Quote from @Account Closed:

What was supposed to help the market, just went the wrong way. Yes, I understand why, but that doesn't help matters.

"The average 30-year fixed-rate mortgage rate jumped 27 points from 6.26 percent to 6.53 percent on Friday"

I guess I go back to buying properties with zero down, taking over 3% mortgages. (instead of getting new financing)  A $300,000 mortgage at 3% is $1,264 - but a $300,000 at 6.53% is $1,902 - so I simply save / cash flow $638 a month. I love those deals.

Yes, the spike in rates on Friday was largely driven by the strong jobs report. The U.S. economy added more jobs than expected, which signals robust economic activity and pressures the Federal Reserve to maintain higher interest rates to combat inflation. A strong labor market can lead to wage growth, which further fuels inflationary concerns, making the Fed less inclined to cut rates in the near term.

However, many recent jobs reports have been revised downward after their initial release. This has become a trend, where the initial numbers appear strong, but subsequent revisions show a weaker-than-expected labor market. If this happens again with the most recent report, it could indeed alter market expectations for the Fed's mid-term trajectory, potentially putting aggressive rate cuts back on the table.

In the short term, though, the market reacts strongly to the initial data, and the Fed remains in a "higher for longer" stance regarding rates. Investors and market participants are pricing in the possibility that rates could stay elevated. That being said I see clients achieving 2x monthly cashflow returns on investments even with 7% mortgages. It's not the loan, it's the home.

Hi Ido,

Welcome to the community! Your journey from professional fencing to real estate is truly inspiring. The discipline and precision you've honed in sports will surely serve you well in your new venture.

It sounds like you’re already making great strides with your rental and flipping projects in St. Louis. Collaborating with a local investor can definitely enhance your efforts and provide valuable insights into the market. I'd love the opportunity to provide some low numbers for your next round of financing,

After all, in both fencing and real estate, it’s all about finding the right opening!

Best,