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Posted (edited)

1/4 point today and MAYBE another 1/4 in December.  

IF I was in yall's business I would be calling folks hard this afternoon about getting in now.  As there is a real possibility of two bad things happening in the next 30 days that could derail lower rates going forward.  The main one is an upward trend in inflation.   Second, is perhaps perhaps the most real chance of a government shutdown we have had in a long while.  I would bring up both these factors to my clients, to hopefully create a sense of urgency.  

Looks like my prediction around this time last year of us getting lucky to see a 6.25% MMI last year by September seems spot on right now.  

Edited by horn4life
Posted
38 minutes ago, horn4life said:

1/4 point today and MAYBE another 1/4 in December.  

IF I was in yall's business I would be calling folks hard this afternoon about getting in now.  As there is a real possibility of two bad things happening in the next 30 days that could derail lower rates going forward.  The main one is an upward trend in inflation.   Second, is perhaps perhaps the most real chance of a government shutdown we have had in a long while.  I would bring up both these factors to my clients, to hopefully create a sense of urgency.  

Looks like my prediction around this time last year of us getting lucky to see a 6.25% MMI last year by September seems spot on right now.  

I'm sure there's several that have bit, and oodles more that can attest that I've been burning up the airwaves to get people's refinance in, especially with UWMs pricing incentive. If anyone I haven't worked with previously or is new wants to take a look at a quote you can DM me here or if easier just email me - pdubord@prodigymbo.com

  • Hook 'Em 2
Posted
Quote

I certainly wouldn’t want to draw conclusions from a datapoint of 3. Rent prices can swing a lot even within a state, and if you’re just doing trends based on number of sales and price, the the bigger cities are going to skew averages that your every day landlord doesn’t see as reality. 
 

We bought our first 2 in 2018 and third in 2019. Our planned forth in 2021 but instead we live there now because we enjoyed the atmosphere (rural, woods, etc). We’ve taken some very dilapidated bordering on unlivable houses and done a lot of the repairs ourselves. I enjoy doing it, but it becomes a lot when you have an actual job and a family.  “I’m going to be done in 6 months” turns in to 2 years. 
 

We started as an alternative to trying to fund our retirement only by saving in stocks because neither of us wants to care / learn about the market. Goal was to have income producing houses in retirement. Taxes and insurance have gone nuts (and I’ve never had an insurance claim). We’re not profiting. My hope is that value  outpaces inflation plus our losses, but I’m terrified I’ll look back in 20 years and have a lot of regrets. 
 

We did STR (still doing one that way). I wouldn’t wish STR on my worst enemy. 

This is a quote from @UT_OB1 from the markets falling thread.  I wanted to move it over here to get feedback on his investments, since you guys know I am leaning towards talking all my inheritance (and likely writing a check) in my parents home.  A lot of similarities to my situation and the concerns of taxes and insurance wiping out rental income over time is a real concern. SO much of his situation seems similar to mine, except my big advantage would be a high stepped up value of the home at my Father's passing.

I also agree with my desire NOT to do STR and want on only do MTR (medium term rentals) of 30 days or more.  Because I don't want to deal with cleaning services, and constant move out inspections mainly.  I do not want to rent long term, because of my concerns about potential damage to the property.  A great deal of the reasoning for MTR is the property is on Septic.  And they spray emitter system by the lake while fine today, might not be up to code if something went wrong. That could be very, very bad, and very very expensive.

-----------------

Anyone here do Furnished MTR?  Seems like somebody who posts here primarily does that with their rentals, but I cannot remember or search and figure out who.  But I remember I this from maybe 5 years ago?  If this is in your personal wheelhouse please post or PM me.

 

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