All Forum Posts by: Preston Dean

I'm about to do a cashout refi on a rental and I'm torn if I should buy down the rate, or wait hoping that rates will drop and refinance sometime in 2024.  I'd appreciate some thoughts and advice 

The rate is 7.9 percent, the one point buy down would cost 2k and lower the month payment by $137 per month. Loan cost would be an appraisal and about $800 origination fee. 

So, as it stands now, it would take about 14 months to break even on the buy down. But, my concern is that I could refi into an even lower rate in the next 6-8 months. 

Any ideas, thanks.

Hi,

  I'm Lacey, and currently in Mississippi excited to be here! I'm new to learning about real-estate and I'm here to get guided and connected with people who can teach me how.

My questions are, do I need to register entity with my state, and if I want to virtually sell from another state, how does this work? Do I need to open an LLC?

So I stumbled across this site a bit by accident, while looking for reviews on Crexi Intelligence. Their sales guy keeps hounding me to sign up. That said this seems the right place to get some advice.  First a little background.  I inherited the management and ownership of a few mobile home parks back in 2010, and another in 2014.  I Ran these the way My mom and Dad used to and they made out ok.  I sold all 4 parks in 2018 and 2019 and upgraded to some commercial investments.  I currently hold a State-occupied building worth about 1.8 million and a state funded Medical treatment facility worth about 600k, currently for sale.  I recently sold a converted office, which I paid cash for, (Never again,) for about 350k.  I'm in a situation where I will have about a million in capital in the next year or so, related to all this, and am not sure what to do with it

Here is the problem.  I feel like I have no idea what I'm doing.  I get emails from Crexi, scan Loopnet, and generally keep my ear to the ground, but when I look at the market I don't see the opportunity.  Cap rates are in the 6's and if you're lucky 7's, but with interest rates in the 7-8% range where is the money to be made?  I listen to guys like Grant Cardone talk about these great Multi-Family investments, Dan Pena talking about Making Billions, and have come to the conclusion that I'm not as informed or educated as I thought I was, even though I'm 1 or 2 decent investments from being able to leave my 9-5 and focus on Real Estate permanently.  I hear people talking about "building a team."  Right now my Team is my wife and I, but mostly just me.  I don't even know who should be on this "team."  At first I thought maybe it was just imposter syndrome, but the more I learn the more I realize that even though I'm staying afloat, I'm pretty bad at this.

So here is the question:  How do I re-start my path in Real estate to change from floating along, to driving results?  What does a team look like?  where are the opportunities?

I was wondering if you had any input as to the closing costs that you typically conduct deals with and charge buyers and sellers.

Is it different based on the state that you operate in?

Hi All - 

Excited to jump into the world of REI. The amount of information is overwhelming, but these forums seem like gold. Very inspired by the rookie investing podcast as well.

I'm in the DFW TX area and looking to connect with other investors.  Going to try my hardest to avoid analysis paralysis!

Matt

Hey I was wondering if anyone knew of a really good brokerage in Houston ? One that actually helps new Real Estate Agents…most that I’ve seen don’t really take the time to reply to questions or there not really invested into the success of the company.