All Forum Posts by: Stephen Stokes

@Qing Willow bring in a partner with more experience than you.

@Trevor Caswell

Great post and wonderful advice!

@Travis Washington

Based on your numbers, assuming $200k in equity and $112.50/mo cash flow (75% rents minus PITI) equates to 0.675% cash on cash return....not a great COC return. Can you get better cash flow investing somewhere/something else? Do you need the tax advantages of depreciation to help offset any earned income?

@Austin Bright

Narrow your scope of properties and become more targeted. I get calls from people every day that are just wasting my time and theirs because they have no idea about the market or my property. They call and ask if I am interested to sell. Well the answer is not really but if the right price of course. From this response you should ALWAYS make an offer, at least something even if I just say no thanks. But in reality these people never follow up, never get to a number so I don’t even get to say no!

When I say narrow your focus I mean go from 1k potential to 10-15 and work them until you get to the actual owner and give them a number and they say no and don’t call me again or get off my property. Then get another 10-15 and work those. Call the owners directly and if you cannot find their phone number go knock on the door! But be prepared for when they say “how much are you offering”. Know the market and know how to make sight unseen offers. Contingencies can be verbal, such as is the property in good condition with no major repairs needed, etc.

@Renee Ren I am in the exact same situation but I will continue to be patient.

@Royce Sanders

Check out Sonora bank

@David Ward

Have you looked at material prices lately?

@Renee Ren

I can only tell you what I am doing. Holding onto what I have but certainly not buying any property at market value. Warren Buffet says be fearful when others are greedy and be greedy when others are fearful. You hit the nail on the head with your comment on interest rates rising and the impact that will have.

Tea leaves. The down payments matter more to people that are worried about cash flow. Rates impact that as well. This is a forum about investing right?

@Matt Stricklen

On Friday, March 19, 2021, according to Bankrate's latest survey of the nation's largest mortgage lenders, the benchmark 30-year fixed mortgage rate is 3.320% with an APR of 3.490%. The average 30-year fixed VA mortgage rate is 3.090% with an APR of 3.310%. The 30-year fixed jumbo mortgage rate is 3.350% with an APR of 3.430%.