All Forum Posts by: Vinay H.

@Jennifer Lee Did you move forward with the wetland project and how did it pan out?

mortgage applications have risen, home-builders have reported better traffic, and (importantly) 30-year mortgage rates are about 50 [basis points] off their high with the Fed’s help — this could set up some stability for housing through the first half of 2019,” he said.

Here we go, in like a lion. The spring real estate market kicks off with a jolt, pending home sales on a tear at 5% up. All nay-sayers and fear mongers and bears can hibernate for another year lol...

@Russell Brazil It’s not all oVER rEGULATIONS. There is an increase in inventory in spec homes and lot developers offering plots that are sitting waiting.

@Shannon M.P. Lewis Can you tell us the loan terms. Interest rate etc? Also how did you find a bank to lend on a 60k property using commercial terms? What documents did you have to provide? Congrats and best of luck by the way. Can you post pics of property and hopefully keep a diary of the progress? Sorry for the questions but I am so excited to learn as well.

@Jesse Kreun

It's time to take the bull by the horns and allocate time and effort for you to do a site visit. You need to be there on the ground to observe what is taking place. Is it the tenants, the area, the management staff?

Once you get an insight, then you can develop a plan of attack. In addition, perhaps you can work with a mentor or financial adviser with Real Estate experience to determine the path to follow.

Finally, it it is still too much for you or you just need a change in scenery, start working on selling some of those underperforming assets...

@Susan Xu Certainly

Apartment complexes in downtown Boston, Cambridge are going for 500k-750k a door, less than 5% cap rate and banks are asking for 70 to 75% LTV and commercial RE interest rates in the high 5s....

The math is not working .....

Originally posted by @Matt M.:

I just looked at an open-door place. They bought for $365k and have it listed at $380k. They've already dropped the price $10k. Even if they took a 6% fee from the seller, that margin is razor thin for that kind of exposure. 

LOL - I definitely want to bet than in 2 years, 2 out of 3 (open door, Zillow and offer pad) will be out of business...

Originally posted by @Bevla Reeves:

I'm starting to see Zillow yard signs pop up along with Open Door and Offerpad.  The rehab work is shoddy in all of the ones I've toured.  The business model is bait & switch for the sellers, I wonder how long will it be before sellers realize that and avoid selling to them again.  Does anyone know if these companies are getting much repeat business from former sellers?

I agree wholeheartedly. Offerpad, Open Door and Zillow means we have reached peak rehab/flip craziness...