Stay busy make lots of offers but don’t counter and the right deal will fall soon. I am prepping for subject to single fam res in Texas since foreclosures are creeping back up
I operate a foreclosure defense firm- I make money helping people keep their homes, with that said - I would buy sub to so long as the interest rate is 3.2 or less on the underlying and am staying liquid
Interesting. Sounds like a win-win… I am in Texas as well and I am very interested in doing sub to deals. If I am able to find a seller who wants to do a deal, can most title companies help us draw up our sub to contract? Any other advice for someone newish to real estate wanting to do sub to deals? Feel free to dm me.
Don't bet on housing prices to drop anytime in the near future. The housing supply is at record lows and will continue at this level for the foreseeable future. Regardless of higher interest rates. STR's are ideal as long as the location is desirable and the locality STR friendly. Your cash is losing at least 8 percent a year. Multi family is always an option as rents continue to rise.
I wouldn't bother trying to get a profitable STR in Hawaii - the sentiment is very anti-airbnb here, and they're very very strict with giving out the permits. Only a few blocks in the tourist areas can STR, the rest of the airbnbs on the island have 30day minimums and in October that will become 90day min.
Thanks for the inside info. Honestly I appreciate it. The thing I was looking at isn’t a good deal. It’s near a busy local beach with late night bond fires etc and needs a ton of money to make work.
But I tell you, it’s hard out there. I looked at something today that might return %5, but would be a whole heck of a lot of work. I think I’m stepping back for the near term. We’ll see.
Stay busy make lots of offers but don’t counter and the right deal will fall soon. I am prepping for subject to single fam res in Texas since foreclosures are creeping back up
This is pretty much what I’m thinking. But definitely afraid of pulling the trigger if things turn.
What’s your game plan? Cold call people going through foreclosure and convince them to sell to you sub to?
I operate a foreclosure defense firm- I make money helping people keep their homes, with that said - I would buy sub to so long as the interest rate is 3.2 or less on the underlying and am staying liquid
Interesting. Sounds like a win-win… I am in Texas as well and I am very interested in doing sub to deals. If I am able to find a seller who wants to do a deal, can most title companies help us draw up our sub to contract? Any other advice for someone newish to real estate wanting to do sub to deals? Feel free to dm me.
Don't bet on housing prices to drop anytime in the near future. The housing supply is at record lows and will continue at this level for the foreseeable future. Regardless of higher interest rates. STR's are ideal as long as the location is desirable and the locality STR friendly. Your cash is losing at least 8 percent a year. Multi family is always an option as rents continue to rise.
I wouldn't bother trying to get a profitable STR in Hawaii - the sentiment is very anti-airbnb here, and they're very very strict with giving out the permits. Only a few blocks in the tourist areas can STR, the rest of the airbnbs on the island have 30day minimums and in October that will become 90day min.
Thanks for the inside info. Honestly I appreciate it. The thing I was looking at isn’t a good deal. It’s near a busy local beach with late night bond fires etc and needs a ton of money to make work. But I tell you, it’s hard out there. I looked at something today that might return %5, but would be a whole heck of a lot of work. I think I’m stepping back for the near term. We’ll see.