All Forum Posts by: Ryan Beinner

With the fed increasing mortgage rates to near 5%, and assuming a .5% uptick each fed meeting until the years end (reaching potentially 7%+), is now still a good time to invest in TurnKey ?

Choosing TurnKey for lack of time and to get my feet wet in the game. But now should I wait for supply to increase and rates to lower? Or do REI pro's still outweigh the cons of high rates?

Any and all feedback is appreciated.

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Originally posted by @John Barrett:

@Ryan Beinner I would suggest that you start looking at the agents who are listing properties (for sale or rent) that most closely match the properties you would be interested in purchasing. From this list you can then reach out with an email detailing the type of property you are looking for and the questions you would need answered to feel comfortable moving forward.

From this you can narrow down which agents are a good match to work with you.

Best of luck,

John

Hey John, thank you for the tip. That is a great place to get started - I will heed your advice.

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Originally posted by @Sher J.:

Now is not a bad time. If you are able to find a deal and know if something horrible was to happen you have reserves to cover.

I am house hacking a duplex. Feel free to ask me any questions.

As @Matthew Brill mentioned, make sure your partners align with your end goals.

Thanks Sher! I would love to connect.

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Originally posted by @Matthew Brill:

If the deal works the day you buy it then it's a good deal even if the housing market pulls back. You can potentially be under water on the mortgage but if it is a residential mortgage (1-4 unit property) then you can only default if you don't make the payments. So as long as your are cash flow positive you're good. You may not be able to sell without taking a loss but you can wait out the market as long as you want if you can make the payments. It's a different story for commercial loans.

I would be weary about going into a house hack with partners though. Depending on who they are and what the structure of the partnership it.

Thank you, Matthew! That was helpful insight - I figured I could wait it out if cash flow positive but your assurance is great.

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I am looking to establish relationship(s) with Real Estate Agents or Brokers in the greater Seattle area that can help me navigate the rental property game in this area (bonus points for investing experience).

Please share any and all names that you recommend!

THX in advance.

1 Vote

I am considering purchasing my first rental property with two partners this summer through an FHA loan and renting it out after one year of residency (House Hacking).

Is now a bad time to try this? Considering a potential market correction, is it likely for my mortgage to go upside down and default?

THX in advance.

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Buying with profit built-in is important. What is more important is knowing what prices are actually low in a specific area. What's the best way to start learning?

1 Vote

All Forum Posts by: Ryan Beinner

Ryan Beinner has started 5 posts and replied 10 times.

Post: Systems to track the numbers: ROI and Income/Expenses

Post: Systems to track the numbers: ROI and Income/Expenses

Post: Systems to track the numbers: ROI and Income/Expenses

Post: Mortgage Rates (5%+)

Post: Seattle Agents or Broker Recommendations

Post: House Hacking in 2021

Post: House Hacking in 2021

Post: Seattle Agents or Broker Recommendations

Post: House Hacking in 2021

Post: Best way to familiarize w/ a cities real estate market?