All Forum Posts by: Tyler Hodgson

Yeah it's those commissions and bonuses that'll get ya. 

Still not there with the rental income on those properties included?

Nate - per Fannie guidelines the fact that you changed industries does not mean that you W-2 income will not be accepted. If you can prove stable and predictable income then you should be good. Is this salary income, or commission/bonuses?

Hello Ryan, and welcome to BP. 

It sounds like you aren't in a good financial position and have some trade experience that will help your real estate investing career. You're on the right track. 

What works well in Dallas? Honestly there are so many different niches and strategies that work well in Dallas. I don't see our economy or real estate market slowing down soon. Your niche is going to depend on your personality. What's your risk tolerance? What is your financial situation? What is your skill set? 

Personally I am not much of a handy man, so I try to find long term rentals that don't need much work going in. It can be very difficult to find a move in ready property that still cash flows properly. Currently I have 2 rentals and my primary residence. 

Do you feel more comfortable doing flips, or buying a long term rental? 

My niche is finding tenants who want to own a home but don't qualify yet. I rent a house to them with an understanding that they can buy the house in X number of years a specific price. They take better care of the house, and typically are getting their finances in order. It's not a true rent-to-own agreement (those can be tricky). And I am okay whether they purchase or not. 

I hope this helps. Keep learning here on BP, this is the best place to be for new investors.  

Hello @Trevor Reed, and welcome to BP.

I've started my SFR journey, and getting ready to start jumping in MF's soon. I want to analyze as many MFs deals as I can, network with other investors who have large MF experience, and of course get the financial side of the picture in order, so I can jump on a deal when I find the right one.

I work as a Loan Officer / Accountant for a local conventional lender. If you or any of your clients need help with conventional financing, I'd love to help out.

Hello @Harrison Sharp, and welcome to BP.

I was where you were about 10-12 months ago (regarding just discovering BP and trying to soak up as much knowledge as possible). Since then I have purchased my first primary residence (house hack) and two rental properties. I am looking to do a rehab flip soon. If you are truly serious about it, you will do well.

I'm an accountant as well. I just finished my first 2 CPA exams, so 2 left. I'm finishing my Master's at UNT in May. Your financial knowledge and overall understanding of business and finance should be a strength for you. 

I currently work for a local mortgage company as the Controller and a Loan Officer. If you have financing questions please reach out to me. I can definitely help you get in the right position to be able to buy your first property and continue buying properties. I love helping out other investors, and a multi-family house hack is a great way to start.

Good luck with everything!

Thanks for the response @Account Closed. I can't make fun of the Navy too much since we are part of the Navy (the men's department!)

Hello BP,

Now that things are slowing down for the winter, my partner and I are looking to do a flip (or a BRRRR). We have an MLS search set up, but we all know a good deal on the MLS only comes once in a blue moon.

I'd like to connect with a wholesaler in the DFW area who can help us find our next deal. Specifically we are looking in Irving and the surrounding area. 

Post a comment or send a colleague request and we can set up a time to chat. 

A little about me:

-Marine Corps Veteran

-3 purchases in 2016 (house hack & 2 rentals)

-Finishing up Masters in Accounting

-Finishing up CPA exams (2 out of 4 done)

-Loan Officer for local lender (conventional financing, but I love doing loans for investors)

-I'm passionate about physical fitness, self-improvement, and business/real estate. 

Thanks!

@Jeff B. I completely agree. FUD is always a major factor in huge market swings. The Fed increase of the federal funds rate should actually help bonds slightly in the short-term (as investors move money out of equities into safer securities). So hopefully this will bring mortgage rates back down slightly to end the year and begin 2017.

Gotta love how the Federal Reserve controls the monetary system and has such a significant influence on the world economy.

@Henry J. the main cause of the bonds sell-off (and corresponding rate increase) is actually do to fears of inflation. Inflation is bad news for bonds. A 3.5% return on a bond is okay when you have 1% inflation, but not so good when you have 5% inflation. Investors fear that Trump's presidency will lead to higher inflation due to less foreign imports and trade deals. U.S. workers are expensive and by bringing overseas work back to the U.S. inflation will certainly increase.

Not sure if it is really tied to "all the borrowing / building Trump said he wants to do."

Absolutely yes. Rates have increased anywhere from .5 - 1.0% since the election. The surprise of the election and the resulting rally in equities markets has killed bond markets. Mortgage interest rates have an inverse relations ship with mortgage bonds. This means as mortgage bonds decrease in price, mortgage interest rates increase; and vice-versa. Below I have a one-month chart of FNMA 3.5 Bonds to show you the drastic drop in the last 2 weeks. 

If you are interested in rate movements I suggest you track 30 YR FNMA 3.5 & FNMA 3.0. All conventional lenders' rates will be based on the movements of these bonds.