All Forum Posts by: Storm S.

@Richard Xyminies even if you don’t get property insurance always have liability insurance.

@Neil Polehn there are two and only two rules for bidding wars. I’ve presented them below.

Rule number 1:

Don’t get into bidding wars

Rule number 2:

If in doubt refer back to rule number 1

@Liam Mullins you can make a ridiculous amount of money here in Santa Barbara by buying a home and converting a detached garage into an ADU. The capital gains and tax benefits are so good that, I think it's impossible to find a investment out of state that comes even close to the returns you can make here.

@Cornelius Charles I feel you on this one.

@Mysonne Johnson in my area wholesaling was always dead

@Kishun Barker that’s the ideal situation, write an all cash offer with no loan contingency to beat everyone else out and then either get a loan once your in escrow or refinance after closing. That’s the best way to do it.

@Hemant Patel hello, we've helped clients through the ADU process, we did a garage conversion, in the Westside of Santa Barbara that's just finishing up construction. I'd be happy to talk about the process with you.

@Isaiah Bolton definitely go locally you’ll get better returns.

@Joe Splitrock mortgage backed securities can't be profitable in the first years if they were never profitable in the first place, most mortgage back securities are paying 1-2% for 30 years with a continued wave of prepayments into the lower rates as people refinance with these no fee mortgage lenders. If you look at some of the REIT's balance sheets some of theme including retail shopping malls such as Simon Property Group they have negative interest rates on some of there loans in Europe and other countries outside the U.S. As a investment Mortgage backed securities are where you park you money when you're over the FDIC insurance and don't want to lose your money to a bank default. If rates go down you could make a decent amount of money in capital gains on them due to there resell value but if they go up it's not going to be pretty.

@Ben Zelenka Yotta savings is the best in my opinion I’m a math and economics major and a I wrote some software to calculate the expected savings rate and the expected average savings rate would be in between 1.6% and 3% depending on how many users are apart of the bank.