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17 August 2024 | 3 replies
To "soften" or reach a compromised we agreed to ONLY have $30K of the $60K in funds be considered "OPTION CONSIDERATION" funds (giving us the EXCLUSIVE RIGHT to buy the property at the $300K Purchase price) and the OTHER $30K of funds would be STILL be given to them but we informed them that it likely will be consider TAXABLE INCOME to them.
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16 August 2024 | 19 replies
I finally found one at 20% higher than I was paying, but with a higher deductible and greatly reduced coverages (loss of rent from one year to 3 months, liability from $500K to $300K, everything else cut or excluded).Personal opinion (I work in insurance) and those of pretty much everyone I've spoken to in the industry feel we are at least a few years away from anything softening.
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15 August 2024 | 0 replies
However, we can see that the increase in listing inventory may have caused prices to soften as the summer progressed.
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12 August 2024 | 1 reply
While this could lead to a temporary softening in rental demand, it also opens up opportunities for investors to acquire properties at more favorable terms.ConclusionThe recent drop in mortgage rates to their lowest point since May 2023 presents both opportunities and challenges for the housing market.
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9 August 2024 | 17 replies
Gotcha a in other words rents could soften or are softening based on supply demand issues.. thank you for clarifying that.
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6 August 2024 | 5 replies
I don't think I will ever fully retire but I plan to be doing less active work in the future, i.e. not focusing on writing new loans and not flipping.I am lucky that I can easily handle a down turn and be just fine if things soften even for an extended time but I still hope that doesn't happen.
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7 August 2024 | 23 replies
as the market softened with Interest rates I had to move back to 2% and some of my competition went to 2.5 and 3.0 to drive traffic and buyers..
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4 August 2024 | 10 replies
That's a lot of potential future guests.Also, there are a LOT of potential owners waiting to buy a STR as the market softens a little that will swoop in & buy & prevent a crash.
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9 August 2024 | 184 replies
At first we won't see much moving but, the market will adjust and this will help soften prices.
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31 July 2024 | 11 replies
That said, that now that the market has softened a bit, folks wanting the work permitted is probably going to be more common so it may not be a bad thing.My final thoughts are about your hard money lender.