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Dec 1 - Mortgage Rates drop 30 something basis points!!!



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topics gone triple plat - Number 1 spot 3X PLAT




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 2 months ago '13        #1
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North!!!  topics gone triple plat - Number 1 spot x12
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Props total: 140917 140 K  Slaps total: 12596 12 K
Dec 1 - Mortgage Rates drop 30 something basis points!!!
 

 
image

If rates trend down

Definitely no major crash

Plus there isnít enough inventory to support a crash

There are way more buyers and people that want to buy than houses available so houses going to stay kinda high though May have some slight decreases

+3   



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43 comments
 

 2 months ago '07        #2
pete jr 
Props total: 13702 13 K  Slaps total: 1429 1 K
Fed pivot coming
+8   

 2 months ago '13        #3
North!!!  topics gone triple plat - Number 1 spot x12 OP
Props total: 140917 140 K  Slaps total: 12596 12 K
 pete jr said
Fed pivot coming
If they decrease by 50 Basis points or less

Things may be better in the horizon
+6   

 2 months ago '16        #4
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
Been waiting on this sh*t to refi out some of my portfolio. I don't even want to cash out, just a refi to increase cash flow. Also may take some of my flips that have been sitting on the market, do a cash out refi on them, pay off my hard money loans, and use the other proceeds to buy furniture for them and make them into midterm rentals. The insurance companies been breaking bread on midterm rentals. They need the housing for people that are displaced from their homes and they pay like $3000-4500/mth on 3-6mth leases
+17   

 2 months ago '13        #5
North!!!  topics gone triple plat - Number 1 spot x12 OP
Props total: 140917 140 K  Slaps total: 12596 12 K
 Usd2bDrich409 said
Been waiting on this sh*t to refi out some of my portfolio. I don't even want to cash out, just a refi to increase cash flow. Also may take some of my flips that have been sitting on the market, do a cash out refi on them, pay off my hard money loans, and use the other proceeds to buy furniture for them and make them into midterm rentals. The insurance companies been breaking bread on midterm rentals. They need the housing for people that are displaced from their homes and they pay like $3000-4500/mth on 3-6mth leases
I hear like traveling nurses, traveling businesspeople, flight attendants

Are good for that 30+ day rentals
+7   

 2 months ago '08        #6
daluckychild 
Props total: 11464 11 K  Slaps total: 295 295
 Usd2bDrich409 said
Been waiting on this sh*t to refi out some of my portfolio. I don't even want to cash out, just a refi to increase cash flow. Also may take some of my flips that have been sitting on the market, do a cash out refi on them, pay off my hard money loans, and use the other proceeds to buy furniture for them and make them into midterm rentals. The insurance companies been breaking bread on midterm rentals. They need the housing for people that are displaced from their homes and they pay like $3000-4500/mth on 3-6mth leases
I got about 250k in equity in a townhouse I've been itching to get my hands on to use and get another property.

These sec 8 rents looking delicious right now
+8   

 2 months ago '16        #7
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 North!!! said
I hear like traveling nurses, traveling businesspeople, flight attendants

Are good for that 30+ day rentals
Traveling nurses is a definite money grab! But even with my properties that I have used for traveling nurses, that bread still ain't quite as good as the midterm rentals. If you can get on with a company that does frequent travel for their employees to areas where you have properties, you on!
+5   

 2 months ago '08        #8
HulkColegan 
Props total: 6073 6 K  Slaps total: 1229 1 K
Wild I’m sitting well sub 3.
+3   

 2 months ago '17        #9
2007 
Props total: 31469 31 K  Slaps total: 8408 8 K
Those are hard money loan numbers. Not good
+3   

 2 months ago '16        #10
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 2007 said
Those are hard money loan numbers. Not good
Bro those aren't even close to HM loan numbers right now. I got quoted just Monday for 7.65 on a 30yr product from a HML, 9.85 on a 18 month product and 10.45 on a 12 month product. If a hard money lender offered me any of this rates listed in the OP, I'd jump all over that sh*t.


Last edited by Usd2bDrich409; 12-01-2022 at 10:03 PM..
+5   

 2 months ago '06        #11
MyStYlEaRt  topics gone triple plat - Number 1 spot x1
Props total: 2619 2 K  Slaps total: 317 317
As an investor, I want interest rates to go up so prices come down. 20% down payment and refinance in a few years when rates go back to 2.5-3%.
+9   

 2 months ago '04        #12
nwking  topics gone triple plat - Number 1 spot x6
Props total: 32714 32 K  Slaps total: 3575 3 K
 MyStYlEaRt said
As an investor, I want interest rates to go up so prices come down. 20% down payment and refinance in a few years when rates go back to 2.5-3%.
Bro not sure we will ever see below 4% again in our lifetime
+4   

 2 months ago '07        #13
Bullseye 
Props total: 11987 11 K  Slaps total: 2466 2 K
 MyStYlEaRt said
As an investor, I want interest rates to go up so prices come down. 20% down payment and refinance in a few years when rates go back to 2.5-3%.
What if the don't' go back to 2.5-3% in a few years?
+2   

 2 months ago '16        #14
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 MyStYlEaRt said
As an investor, I want interest rates to go up so prices come down. 20% down payment and refinance in a few years when rates go back to 2.5-3%.
The investor side of me feels the same exact way. Don't know if we'll see sub 3% again, but I've k*lling taking over properties subject to recently as well as negotiating using creative financing on on-market properties that have been sitting longer than 60 days. Those have been the new low hanging fruit.
+1   

 2 months ago '16        #15
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 daluckychild said
I got about 250k in equity in a townhouse I've been itching to get my hands on to use and get another property.

These sec 8 rents looking delicious right now
Were you thinking of doing a heloc or a cash out refi? Depending on what your current interest rate is right now I may choose heloc over refi if I were you. Either way, if your head is in the right place in this market, it's time to eat! Let's eat bro!
+1   

 2 months ago '17        #16
2007 
Props total: 31469 31 K  Slaps total: 8408 8 K
 Usd2bDrich409 said
Bro those aren't even close to HM loan numbers right now. I got quoted just Monday for 7.65 on a 30yr product from a HML, 9.85 on a 18 month product and 10.45 on a 12 month product. If a hard money lender offered me any of this rates listed in the OP, I'd jump all over that sh*t.
I wrote my message wrong brother. I was saying those type of interest rates are what Hard money loans were offering before our investment world went to sh*t.
+2   

 2 months ago '08        #17
daluckychild 
Props total: 11464 11 K  Slaps total: 295 295
 Usd2bDrich409 said
Were you thinking of doing a heloc or a cash out refi? Depending on what your current interest rate is right now I may choose heloc over refi if I were you. Either way, if your head is in the right place in this market, it's time to eat! Let's eat bro!
Cash out refi was my original plan but I'll take a closer look at a heloc.
+1   

 2 months ago '17        #18
2007 
Props total: 31469 31 K  Slaps total: 8408 8 K
 Usd2bDrich409 said
Been waiting on this sh*t to refi out some of my portfolio. I don't even want to cash out, just a refi to increase cash flow. Also may take some of my flips that have been sitting on the market, do a cash out refi on them, pay off my hard money loans, and use the other proceeds to buy furniture for them and make them into midterm rentals. The insurance companies been breaking bread on midterm rentals. They need the housing for people that are displaced from their homes and they pay like $3000-4500/mth on 3-6mth leases
What state are you in?

 2 months ago '17        #19
2007 
Props total: 31469 31 K  Slaps total: 8408 8 K
 daluckychild said
I got about 250k in equity in a townhouse I've been itching to get my hands on to use and get another property.

These sec 8 rents looking delicious right now
Section 8 people are very annoying. Choose wisely.

 2 months ago '17        #20
LostTenets  topics gone triple plat - Number 1 spot x52
Props total: 120979 120 K  Slaps total: 33768 33 K
 Usd2bDrich409 said
Were you thinking of doing a heloc or a cash out refi? Depending on what your current interest rate is right now I may choose heloc over refi if I were you. Either way, if your head is in the right place in this market, it's time to eat! Let's eat bro!
What do you consider your head being in the right place, what should we be looking for and doing
+1   

 2 months ago '04        #21
MacMan84 
Props total: 9 9  Slaps total: 1 1
What lenders are yall using. I'm looking to build up from my one rental. These property prices and the interest rates pushed me out of buying this year. If I can get heloc on my rental and a lender that won't k*ll me with crazy closing cost fees and points I'll be good.

 2 months ago '16        #22
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 2007 said
I wrote my message wrong brother. I was saying those type of interest rates are what Hard money loans were offering before our investment world went to sh*t.


All good G! I miss them days bro. I have a couple Colombian private lenders who will still give me rates like that because they think anything above 9% is a scam, but they hella conservative so I gotta be super selective on the deals I send them.
+1   

 2 months ago '16        #23
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 LostTenets said
What do you consider your head being in the right place, what should we be looking for and doing
I consider your head being in the right place if you understand that even though interest rates are high, it is now a buyer's market. The higher interest rates don't scare you because you know that simply means you can get houses for cheaper. Yeah you will pay a higher interest rate with less cash flow for a short period, but when they come back down you simply refi and get a lower rate and more cash flow. Never in the history of US housing have rent rates dropped so play the long game and you'll be set for life. 2 things happen in a market like this, people go broke and people get wealthy...ain't much in between. The middle class is eroding so you have the power, if you're willing to take risks and feel short term pain, to choose which side you're going to be on. You should be looking for foreclosures, properties over 60 days on market, bank REOs, and learn creative financing. Get this bread bro. Remember, housing prices may fluctuate, equity comes and equity goes, but the cash will always flow.
+2   

 2 months ago '10        #24
Account001 
Props total: 6526 6 K  Slaps total: 1524 1 K
Hey gurus...

Whats the best way to buy a new property if you already have 2. One with equity and one without?

Property 1 - Rented, long term tenants, 60% paid off
Property 2 - Purchased in less than a year, duplex. Technically 0 equity

Want Property 3 - Live in single family home. Nicer, but not luxurious
+1   

 2 months ago '16        #25
Usd2bDrich409 
Props total: 3694 3 K  Slaps total: 106 106
 daluckychild said
Cash out refi was my original plan but I'll take a closer look at a heloc.
If you have a solid interest rate, definitely take a look at a heloc first. Let's say you take the refi and get a higher interest rate, but don't find a property for a lil while that you can purchase...now you're paying interest for money you aren't even using. At least with a heloc you're only charged for the money you use when you use it. You'll just always have it in reserves and you can keep your same interest rate on your current property
+2   



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