All Forum Posts by: Tracy Ross

Save that beautiful baby! Any house previously I have sold in order to purchase on the other end I look back in 5 years and think Dang! I should have kept that property. I don't think we are ever going to see rates that low again. If you're looking for long term wealth hang on to that puppy and long term rent it!

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Raleigh, North Carolina

Not sure about Florida but here in Idaho there are some discount brokers who will list on MLS for a flat fee (like $500 usually) Best of luck!

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Quote from @Bruce Woodruff:

Quote from @Tracy Ross:

It is. But it's really a small percentage. Let's remember that we only hear about the horror stories....the great guys that do the awesome work never even get a thank you :-)

Oh I love my good contractors! And I give them as much business and referrals as I can! But it's taken me over 3 years to build up a good base of contractors/subs. I think it's just hard because out there you never know what you're going to get- but it's like that in everything!

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Hi Lythe!

Welcome to the BP community! I would say watching the bigger pockets YouTube channel and podcasts is very helpful. Also, There's no better teacher than getting out there and doing it! I would see if there's an investor meet-up in your area where you can soak in all the information from other experienced investors!

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Dallas, Texas

That sounds amazing! Have you looked into the difference between long term renting and vacation rental in Spain? I would think you could get more as an Airbnb but I'm sure it depends on the area!

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Boston, Massachusetts

Fantastic Idea! I know I'm in an investor space but I have a huge part of my heart for my primary home buyer clients who have a dream of home-ownership! It should be a possibility for anyone! Love this- please keep us updated on how it goes!

1 Vote

Charleston, South Carolina

Quote from @Carlos Ptriawan:

Quote from @Tracy Ross:

Boise Realtor here! Thank for sharing this but I think it's funny when you say "time to sell in Boise" From what I am seeing we saw HUGE growth in 2020-2022 (and even before then we were making top 10 best place to live lists for a decade) Our market has held strong around $530-$550k average home price for the last two years even with rates doubling. I am currently seeing multiple offers, lower on market time and high confidence in our market. I personally think it's the best time to buy in Boise because I don't think our prices will ever be lower than they are now. We have HUGE companies in the tech sector investing billions here and Idaho being a red/landlord friendly state is still causing a lot of migration from west coast states.

If rates do go down this year I think we are prime for another explosion.

See James now every realtor would defend their market :-) :-) this is why I no longer post something that our friendly realtor would not like to hear LOL nothing wrong though .... hahaha

Well- we are now having multiple offers on homes at 6-7 and $800,000. I'm just out here trying to help people understand our market is still strong. I'd like to re-visit this post in 6 months.

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Quote from @Katelynn Malivert:

Quote from @Tracy Ross:

I agree with @Chris Seveney. And potentially look into hiring a real estate attorney who can at first send a letter to the contractor threatening to file suit. If that doesn't get him moving then at least you have someone on retainer in case you need to follow through.

Yes, we actually did contact a lawyer and it would have costed us $2500 just to send out a demand letter. Because this was blatant fraud, we highly doubted the contractor would be spooked enough to pay up. We deemed it would’ve been a waste of resources. However, if we weren’t lucky enough to recoup our expenses from our CC company we were definitely prepared to follow through with litigation but that was our last resort as it would’ve been timely and costly. Luckily for us, our CC company paid us back every dollar that was paid to this contractor.

That's amazing- It is truly horrific what some of these contractors are out here doing to people.

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Awesome! The best way to learn is to close your eyes and JUMP! You can do it! This time next year you'll look back and be so glad you started now.

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Depends on the location. I own an STR on the Oregon Coast- there are STR restrictions in almost every county along the coast. So my unit becomes more desirable because if I were to sell, the buyer wouldn't have to apply and possibly wait years to STR it.

Other than that unique situation I would say it's pretty much just based on comps for value.

2 Votes

All Forum Posts by: Tracy Ross

Tracy Ross has started 3 posts and replied 75 times.

Post: Selling vs renting

Post: I got a property under a contract a couple of days ago and I am having hard time sell

Post: HELP! Contractor Woes on my first investment property!

Post: Newbie in Real Estate investing

Post: New member from Boston -- Investing in Spain

Post: Helping Single Moms with Home Ownership- a rent to own model?

Post: Declining Home Prices In These Cities

Post: HELP! Contractor Woes on my first investment property!

Post: New Investor, Finally Coming out of the Lurking Shadows

Post: Short term rental sale valuation