Results for ‘Buying’ category

The economics of buying a home in an improving neighborhood

You can now get regular financing on a house under $419,000 for up to 95% of the purchase price. These aren’t FHA loans with high mortgage insurance payments; they’re relatively standard bank loans. Thought I’d run the numbers on a standard, $350k house in an up-and-coming neighborhood to determine if it makes sense for renters to

The gestation of an idea

I spend a lot of my time kind of aimlessly drifting. It’s pretty weird that I do this; I think most business people are much more focused than I am on a day-to-day basis. What I do is read a whole bunch of stuff and talk to people. I’m not necessarily specifically looking for an

A pretty amazing success story

Yesterday, I got a call from one of the first people for whom I ever brokered a deal. He is in the process of refinancing the mortgage on the small apartment building I helped him buy. He was calling to see if I had any tips for his upcoming appraisal. As I always do before an appraisal, I

Where are interest rates going?

I have no idea and anyone who says they know for certain is either: A liar; or Should be trading interest rate futures on Wall Street That said, having a view on interest rates is pretty important in our business. Why? Because the price of income producing real estate is highly dependent upon the cost

Ballpark returns

Had an interesting conversation today with a guy looking at building condos / small lot. One of the questions he had was what kind of returns a developer can expect. I’m far from an expert on ground up, but I’ve run the numbers on a lot of projects. Right now, here’s where I think you

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