@SacAppraiser Price it like they would any other condo - lower than the comps. Use the assumption as a potential sweetener. It doesn't appeal or work for everyone anyway.
@mortgagesinDC@HomeLoanBill Gotta keep that in mind whenever you are considering a switch. This particular message is from a top 10 lender. But I'm not moving anyway.
@DeerwoodRealty Back when I owned a piece of an IMB, we stacked up a bunch of signing bonuses to buy a group of folks. It sorta worked. The strategy is to buy someone who would signal to others and make them curious about moving.
@mikesimonsen@gvtslave It is growth. Anemic growth. Each year the people who need to make a change, but chose to wait the year(s) before, are coming forward. A little more each year.
@mortgagetruth@HomeLoanBill The debt consolidation folks just want the pain to stop. If it's that or an eventual BK, turning over the debt is better. I've gotten some pretty ridiculous calls to cashout for like $20k. But when it's $120k, different ballgame.
@JCacciapaglia@DeerwoodRealty In your business, you can (and need to) draw from way outside your immediate region. So that makes a lot of sense. Different for a Realtor or a lender.
@shawngorham Yep its mind bending for many. But the whole play for most investors is getting someone else to help pay down the balance, while the home appreciates. In order to cash-flow, it often takes 40%+ down payment. And the cash on cash return is crap.
@JCacciapaglia@DeerwoodRealty Except X is shouting into the abyss and FB is pinging people within your circle. Depending upon your goal, the differences can be enormous.
@HomeLoanBill@mortgagetruth I've seen some really elaborate rationalizations posted online to justify a cashout Vs a HELOC. I'm a simpleton & just look at the total blended rate either direction. I've yet to encounter one where cashout 1st makes more sense.
@1RentalataTime@TheICHpodcast Could do a whole series on professions that pay well but historically spend too much on stupid things. Would be super entertaining!