House Plans 1-13

House Plans by Countybank Mortgage
Saturday, January 13th

House Plans by Countybank Mortgage

00:42:26

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Welcome to house plans pledged we will lose Keith has determined that this is the first show to and that's it's finally get all of the Italian actor yes it's time now you've had enough relax it's time to get plugged the end. And be ready to give you don't absolutely it has finally turned that page yes on lap I just the first thirteen days disappeared. I thought that was cast but it was thing that he is Larry everybody else is already set their goals mapped it out. And keys like welcome January I let's get those guys must gather won't take on the kitchen yeah Veronica well a party of one right yes if yes. Yeah Clark party won with a well assured me he. And I am must subordinate to SE and using your own performance surprise drug. Yes it does kind of funny but here's the funny thing about as I understand it completely. Yes our main it is I think I was cold weather got everybody kind of messed yeah and so we're not used to be and you know twenty degrees for a 190 days that are coming days when there's like five or six days all right that was unbelievable and lies in July when I can't we can't believe that college is not a story about coming lower down on the brink and they need yen and it's. Yes do I sound like a bitter you can think yeah I mean they got out callous with Sam there. They they set up my ball in December than not going back to the middle of January in the charge me 20/20 percent more to send them back yes I mean goodness gracious what a bad deal that is. Yeah I experiments he once and it was a constant yes she's gonna whom Bonnie yeah and down. She used to us used to come home probably three out of five weekends at least yeah you know from. It's college and you know when Josh came around and she's a Kindle shall miss me. I guess this I ever need you we'll MIT I yeah right all yeah. Now stay away from thirty love you and I will miss you app to have it and again it's good god first and she keeps Gatorade around and of that. Yeah he's will be Bennett admitted although Bennett of that is truly a homebody than Hillary he is a little bit now he became downright mean he's technical advice you have facial hair and other dogs and yes everything is he really update may make disappeared in that media. Christmas. Cars we're not only is is how come all that craziness is going downtown in the rules that marking Keith and there was anything about it oh my gosh he tells me maybe I was asleep at the Swiss cheese Flemmi tea. It is it is spread like I'll talk JD and I. Have have been fortunate enough to buy property 2004. That would bar in 2000 NT. In 2010 for 40000 dollars or else you're yes you don't know how else yeah yeah and senator JD and our application that the guy got really releases. In and had a game since he left and C. And has been in there and I'm telling you we have not put. I think we will go to work when Bonnie yeah yeah I'll I'll I'll remember what was analysts say five green and a grander some yeah into the house when I. In in 2000 NT. And today in this one gasoline they are the whole time and green mile as there is she had passed and he stayed there and he'd stop pain and it was just around again doing right now and we're talking about ran at about 35400. About well we are written nothing for four. Which was a zeal to. He thinks if yes is where you go that's right and so. You know the funny thing about it was when we were looking comps yesterday. And you know use you you would think that we're pleasure palace well they don't really wanna play this is sending some words he's gonna need this too we wanna put a bathroom what are we wanna do you. And now one street over I don't know what the dividing street Louis do you remember. Here remember making a major street. Go over the other side of the street same square footage with two bedroom wood to wood three bedroom two bath 240. Yet. When I said the party yeah. So I taught us and I got called again Comcast and I don't like Oliver Brando and as well a lot of writers colony listen we talk about it. Every other week only shallow right. Do you guys SA TM I says here's an old drizzly day here's the property Bob Bob Bob tell me about the process I just give me your honest opinion you know I'll be back in the years in what he owned a merit and massive well we can do you know just about any thing but. You tell me any civil look if you don't cut corners. He has not put about a 160000. Lying in a minute there he said he didn't cut corners against probably only about one Ford. And what he meant by cutting corners is arguably the winds and yes contact search going aren't easy to do granite are you gonna be right you know are you don't do linoleum means trying to. But. Even even all of that we know we were a little shell shocked money because I guess we talk about one's talked about the pricing I was more shocked about how. Are you win that desire. To live downtown had to dial yep that's what surprised me I mean obviously knows. You know what's hot down there we're gonna cover at all. After the break that's absolutely. Unattractive is crazy is crazy at all for slowly and steadily making gave birth to harassment at. Yeah well we didn't know what we did an OK is it causes us a strike will listen if you got a question up buying selling. Anything to do with the real estate including investing in real estate ministering 8664 Forte. 7553. But the toll free Colin of course the tax line has opened 71307. At 71307. Christian JD from county bank mortgage Heath Clarke from the buyers breaker give this ago. That's right 866427553. Total freedom realists in the house plans JD Chris from Carrie Mae mortgage. Keith cart here with the buyer's broker is do you like to text us. Instead of of phone a phone call and call into the show you can do that is seven point 307. That's 71307. Is the text line so issues it takes we'd love to hear from me for sure. You would get textile news just talking about paid Europe in the blue ridge area and there's a small. Home community only Cunningham. About fifteen of them in their now do you know anything about that market went and Larry we talked about that twice in the last two weeks stood over national hockey town yeah that's community this. That's coming out and not make that trip but I promise I'm going out there and so the question is housing going to be. Yeah and and are these guys tomorrow you're gonna embrace that concept are they gonna be mobile or are they going to be. A Phoenix yes well I think that's the function of a tiny house is is that you on the house yup right so you can take it or. OK leave it there for ten years whatever yeah most of the ones I should pay a lot. Police and had a lot at least. In the end in this particular project when I read a homeland was that. That the lot release is 4450 eating cleats to sue there at the border. Utility and back it up could get a track. In the end and end the units running anywhere from I guess you can put your own unit. Mr. they will build one for you from it probably 7200. And these are a hundred and that 400 to 450 square feet they may meet in May be tiny and they may be mellow Mobil one and they won't be as funniest. And better every cash today tables well you know that'll be interesting conversation because it's gonna need to be titled I would imagine if you don't wheels via and of course you'll have to get a very much like a mobile home loan because it's not attached for Boeing and training and for anyone not apply again he makes a good point we instantly Wailea thinking it was like Kenny Cunningham knows it we didn't we were around we area in the end it was it was we have said I think the first time recently while he's just being appointed a cell phone late Cunningham and ends well usually you know it would be interesting to see how bat product rolls because. You know 400 square feet not that mine now is very strong in this lifestyle my friend. Outside the house on inside I am trying SRI. That happens yeah I mean I think that's similar signal I mean it. The ranking and yeah I think and hey you know they'll be no football party today. I. They're both outside and no doubt site you 200 blow up things that low blow up screen and you know project on the that you want to ask a yes but you know we are talking about the downtown market. I was just really astonished you know and do it but I didn't know where we came reality T despray there. As far as the distance and and where it had spread and queer. Things had turn were what surprised me the most I mean. You can still buy some houses and there that are that are not improved and you know that's a television and I understand where seat we saw some sales in their for forty right. And then we also saw some stuff that had been renovated that was selling and that 160 to 180 so it is definitely a transition market. And you know there's some opportunities there to buy improve. And and to the appraisers point if you do it right to get some real money because just the proximity is what people are. Yes and you do and we were talking off near you can draw a circle around downtown and yet what Chris is referred to as he would wasn't really three very that it went that far I have so if you go out 123 it'll take you past them. The Milliken mail out there should get her out 183. It'll take you all the way to where the swamp rabbit cafe he has yet if you go north up. Is that Norton of that southeast out orange road. It'll take you all the way to Parkinson meals a weenie thing. From parking is mailed back in the game he really now between Malden angering both. There's only a couple of miles yes in the and you run into them that our car project and all the new apartments are all new apartment chairman there. So what we're talking about is the market moving from a medium size market. Barreling towards a large market right hand and Z is. Purchasers used to think about. Geographical location. Is attached to. Value or. Or are premium you paid a premium for being but when you have people coming from outside the market right they don't do that and they look at the numbers in if they see about 50000 dollar house. A mile east of this 200000 dollar house right and I can diet that they'll buy an emperor has. Because and that's what happens yep absolutely yet notice in this and have anything do with real estate but she used you sit Satan is one of these things you feel is when you go out on Friday night to dinner somewhere. Okay you have reservations attract you can't just show up anymore and at least you say this JD yeah they put in their front and that I don't I. I necessary necessary and they say now let's say we if you GO week from Thursday up at 9:30 AM asset and we like become a dinner Friday you know and they say OK we get what we January 30 not on 9% Obama. You know I mean it's crazy it really is. Syria it. It is kind of crazy about all that but there's tons of competition tape so I think they'll be some strain on trying to you keep the service level. You know and to keep the the food prices reasonable enough to keep places fold because the the rants definitely don't know. Terrorists don't call it a lot more to be down Meyer AM and you will see some turn there's no doubt about it so will be interesting to see if they can support it. But Keith. In you actually interested in in when we're off here you can read what you read is. But it's it's just that downtown market is very much a separate mark. To attract has become a separate mark yes there we in the last I would say in the last year so we have this conversation last January. When the prices jumped from about it about condi could bath for laissez. Two under and fifteen dollars a square foot jump to. They were asking 350. Square Friday in its went to 400 in some places yes in so we've had this conversation yes. But as it becomes is it differential. Between the suburban market and the damned tale market becomes larger. And then it becomes it's only entity that I separate market share where that boundary exist. That's where your speculation and risk of cars right shortly investors are always trying to push that boundary. Because they have to make the numbers work. In they'll go a little further than everybody else chair right say EC jets and their. Generally the most optimistic about how far schemes well and well they don't try to create it in high end in a particular player or Y yeah and and we've witnessed that mean what year was it. I know we had the youngster that wanted to buy. Over by the does face off field and we were all like oh yeah mail that ask what year was acts like a home run at Michigan says The Daily Show and and we were all like this is a little early. You you may wanna be a little careful and he was all in 100% of your accent and what a great by. In that that turned out laughing at us we were all talking I mean we ask. Has lasted in us and I'll say it is we get a meals on wheels running you know we do meals on wheels to accounting banking we rightly we drop Delphi a meal Meehan I'm Brandon. Dropped off a meal down there with the end. A hundred yards of his house gang. And it was and for sale sign in the yard over there and save your brains can go and exit door and delivering a sentencing with it. How almost dying you never equate the now we talk with Julie and I'm disposals 12150 square foot house probably maybe 14100. And and two blocks from the baseball today and revised from the base Mario and rich street and it was it was for sale for like 300000. And I about fell how not caught our eye. In any if you wanna talk about that goes all the way out how to Wear it you know does she updated her handing. Know ask ask you talked of Ericsson. About a year ago actually asleep every funny I hear him we we did the numbers on that particular house and for that are his what we're talking about is one block from the stadium on red streak yeah yeah idea. And him we weren't even they and conservative but since that time that he did that a year go to Carly in another three high. Yes leftist well you know yeah I think about me I mean if I were decide to to move down. All right. The first thing that I would start thinking about is OK let's look at the Condit so I don't have to do this I don't want to do that. And then I would come to this pretty much the same decision you just on the Nike does I would say 450 foot. Or 200 foot I have my own little yard Bob. Even though 200 discount crazy to me I would go that way. And then I would also be the person to be worst the 175. Henman faced yet. How about my own hundred into eternity in the 300 and it you know so I would be willing to creep a little more because I would. You know be thinking it's gonna komen says it is an interesting when you're looking down there and then you have to have the patience and the willingness to do renovation. And Yasser have to have access you gotta have the cashed our panel under that'll do them alone on you know when you're known for something like that because. You know that's where the real money that. I mean JD I think he had a buddy that actually bow a lot downtown and this is a different market that. On Augusta split the lot but another house on it sold that house paid everything. Sure you may actually had a house a double wide tore the house and hail right. Split the lie in and yet in the reason you can do day. Did that JD is that there are no restrictions on the property damn there's when those neighborhoods were bailed him the damn town market. There are zero restrictions apply and and I'm not sure. Dissolving prevents them from doing multifamily so single families owning your own financial terms of the size of the lot are the restrictions. You have to create those. Through the cam running to his city lived through your city governing body. I listen we got changed changed things here we have Leah listener that texted him if you've got a question you wanna texting you can reach is set. Seven point 307 this gasses I am very proud of my wife she just finished real estate school. And I'm going to be an agent what kind of tips. Do you have for her are ideas that you'd like share and I think the one key says the most often is probably the best one and that's build team. You need a you know first of all you need to make sure that you work on your competence all the time. And then second of all you got to surround yourself with the team professionals. They'll support your biz machine because. Days even McClain is still in the world don't have a bomb and you need people that are really Smart they can help you work through them right don't. And and somebody you can trust and you have confidence in hand. Mean that's the piece of advice I'd give what would you as the. Well and I've had this conversation recently with somebody in. One of the the conclusions that we as brokers in charge have come to is that. You really can't do our quality real estate transaction NT fifteen years of experience now object when I say that what I mean his. The body of knowledge has become so deep and wide right colluding regulation. That the law itself. The real estate business is pretty complicated. And a and a lot of people. Would say they kissing with he admitted that it is an on and so what I would tell you to do is because it takes so long. You really need to be part of a group of people. That can transfer their knowledge to use. Without you making the mistakes one of the things that try to teach mass my son is that. Wisdom is he's gaining knowledge without making mistakes right answer is most Douglas it's funny when when you were talking about the downtown market. We talk about it all the time here right but he never became a realty utility to you were involved tell us exactly where I so I mean you see it on paper clip to solve all day long but that's the same way when your learning. Is a lightbulb comes on somebody could've told you something content right he didn't hear it. When the light that comes owned yep they had they Israel if all of a sudden you'd learn it. In so in order to be competent. You need a combination of experience in education here so the more time you spend on education. You can that's that's a function of your commitment to the business. But in terms of experience you need to surround yourself with a lot of heart quality ethical experience and a team of professionals. They can do. What you can't day. In your case of need as a reason I hang out with you guys is. When when the financing comes down I don't have to worry bad act included a bit I don't have to direct Carl JD and say what's going on how much I just. And half half I do it's because he'd say yeah. Well and I think I think you're making good point Keith and I think you know. JD I know that that the pre call. Is is probably the most important thing for new agent is. Please don't put people in your car. And to you know they can about what they can buy and howl. They can buy the structure and now whether you used county bank mortgage or way to use somebody else find you a professional. They can really lay it out because. I know meaning many times JD has said this is what you can do and not only what you can do but how it's cool have to be done. And it can save you a lot of time and trouble and headache run and down the rude because if you don't if you don't do that up front you know. Knows you know he has increased his ill harm your reputation only sex drive and our businesses are represented I don't know. You don't and don't forget about how important quality closing agent in us exactly right. Listen we're headed there are bottoming out or break your listen houseplants 86604. To 7553. Takes on as open as well as 713 or seven. All welcome miraculously and house plans glad you could be released today talking a little real estate. And if you have a question about buying selling anything to do the real estate 866. For 147553. Or you can always reaches some attacks on 713. Or seven that seven. One and 307 we do have a follow what text to our conversation about. And Asian and the question is she thinks she can do it part time what do you think in the answer is there are meaning. Successful part time agents but that. Ten year time frame you were talking about on your page just it seems to take longer because if you're not doing it full time you're not gonna be doing as many transactions. I end and it makes it a little tougher but once again I still stick by my answer. How good food. Is your team how good as your broker in charge have beauty your insurance agent referrals how good leisure attorney. Have beauty your mortgage lender if you're gonna do it part time coming out of the gate. They better all be superstars. Yes they're down about Dan I don't disagree with the actress but the and out and I don't think part time as a bad idea I think the body of knowledge that you need to learn before he can do a heart quality real estate transaction. Is such that that's the biggest obstacle in my mind he'd just don't JD stated earlier in the show were off the air. He'd really don't know what you don't know from frank in so. I think oftentimes. Brokers sometimes won't productivity out of agents that. This may or may not be qualified to do right when they're coming now worked at a T and transactions. Cash and if I should say they act after 65. Three or four I'm don't know how to do real state chair in front and center and take 3040% of whom they don't really just don't let he or isn't there. Also a difference and and we're not on color I mean things that he and there are also a difference about which firm he chooses to how much. Training and support and it and I'll bet if you're gonna be part time you need to make sure that you select an agency. Our and a broker and charged is committed to to have in the training and teaching you the stuff in mind that's going to be Paramount chilly that's what you learn as go. And what she learned when you're when you're working. Two different things. No actually I think is the most important thing they're not sure why we can put that out front but the most important to see Asian. That an aging would make is who they get to work for right and that as they would not just affirmed that the people in the far right and isn't that good match does it match with your approach. To life and culturally is in Afghanistan and any course I am up I've been a single person firm now for teen years you are key part party are finally not as qualified to discuss his said he may be some of the other brokers. But I do know that. The a broker in charge from one firm. Compared to the team of a broker in charge of another firm. They all have the same exact total grind grind Roddy has is saying equipment if you will for America a better term right. And that the difference that dramatic difference. In this team's approach to the business in another team's approach can be 180. Well you know I think it's cultural city you can ages same thing for mortgage operation G you have a guy that works it. One firm in one office and the guy that works at the same Furman another office one office. May be very collaborative. We are super collaborative and we talk amongst ourselves hey I've got something it's a little weird here. How would you structure what would you do how would you make sure this. Does not create an issue and then you might have the same person working in the same not for us that you might have the same person working for another big firm. Where they worked as individuals and they don't help each other that'll be a huge difference. Because we knew we need to along with county bank. You've got 25 people working on it they might not Albie involving you may never see it be to cut 25 sources yen of experience insight and Oliver's twenty years or more. Well one thing I was gonna say in this adroit question for both you gadget how how often do you run into a situation. That is news to use even being in the business as long as we have. I still to this day yes if you know Annan also wants a month maybe once a quarter. You know I'll run into some on the I wound unless that's something new that I'm not I don't know the answer I gotta go find out after. Asked Chris analysis or this the same way. How learned something in every single real estate transaction on day there's always something and it is for Chris his dad's playbook and page yeah yeah up for me is she surely something about the house I recently. Did a transaction where's the sun there. Reflected often adjacent windows in a neighbor's house. In melted deciding. How much Hayat is yes I'm assess underscore distortion here. I had never sing out sing the melted signing bound you know real on the back yeah I had never seen it. From an adjacent house speaker and I had to do the research on that yet but what do we do that critical thinking skills that we have that we've learned over the years of the I've been in the business. Allow me to navigate it even without any significant. Turbulence. So let me say about the one we have always had. And in this is somewhat unusual happen this week he's got to the table. And the attorney says no you know he can't build favorites. On the slot. And hand the client and said wait a minute I've already written the you know restrict us as a covenants and says you can't have a fear is as long as a depraved he said he can't. But not own the slot one because of where the lie Syria it was specifically excluded. From being able to have affairs and the deal fell apart at the table because the the purchaser yeah had dogs came and was like well I'm not bind mishaps. And and you know here you are. All the way act the table. And says now where was it discovered Korea's worst discovery and pat. First some reason things and you serve I he had turned I don't think so my understanding was the attorney knew it. From the title. The eight news or somewhere in tight times can say he just told everybody. Hey I just want and or somebody reached up grabbed change not a bus yeah. And here we are going I don't know what I'm trying to scare this real estate agent but we're just trying to point out examples. Of where you have that body of knowledge and you know everybody's had the warning if you do just long enough where the the car Porter defeat us for the something. That's utility building is over the property line. And say you need that group of professionals that have dealt with that before work. Including your brokerage charge you can tell you hey here are some solutions and who once had an aluminum. Double car carport. That became a single called call for a man to get it off the property AM and you know because it was over the property lines and those are the types of things that we're talking about. And and they happen alive well. Say this today you know you guys are really that discussion where ham and enjoy coming operation standpoint doing the right thing and doing a job I'd try and that kind of thing. Yet the other approach that ballots they use from the sale signed. You know for her being part time. Yes where you're leads gonna come from PS yeah where where who're you gonna do business with way type of business are you going to do that brought you going to target because I can tell you this. I don't know one person in Greenville who doesn't know five realtors at least deaths and crime and neuroscience. And. And how psyched that one simple one simple statement. Your database is your most in valuable asset yes yes so it doesn't matter whether you work in the million dollar range of 50000 dollar price point. When you work on he said the west side the northside Southside your database is your most valuable asset and that's where you really need to start in terms of being six. European marketing concept out of the ground thinking about how I honestly can't see him collect it. What am I gonna do with it and in town I'm our charity. Market to it to stay in touch wood those people that the you know that I wanna stay in touch wood right because sometimes it's a long drawn out playing them and we've had people that we work with key. For a year you'll find people that say listen I'm getting out of the military and come back from Hawaii I won't be coming back for nine months. And then I'm most heartless. We you know way if you stay in touch for that person don't go by yes now and now we're catching up. Exploit that overstressed and let's look at us and accept yeah. Well I think it's a great discussion and and I you know I just think that if you. If you do it right it can be one of the best careers in the world just like being alone officer. But that coaching that were given this stuff that we used because we did it wrong at some fast car was trying to share that wisdom ms. keys saying please El Paso police are as funny you said that wisdom I think is what it tell Mitchell Thomas and listen anything you've ever felt. Anything you wanna do you have already been there so if you ask me back and healthy. Yeah that's right if you'll last if you Elaine there's no new ideas yourself that. All the way the we're on his last break you got a question comment a 6644270. Baht 53. Takes on 713 or send. Who. Lesson number 86644. To 7553. Year listening to you house poignancy. Jay being Chris from Kelly they mortgaged Keith Kerr with the buyer's broker we appreciate dollar techsters today at seven point 307. So I feel free to reach out here in the last segment and death texas' seven when three or seven or give a serene. We do have mica has called me from Spartanburg was talk about tiny houses they might tell you. Jordan oh man. I get back up the and I thought. So they're. Out pretty quick guide to act. Well. And also that we all people. Nobody got so open. Have. Owner that. You technical apparently. A little. Are you familiar with it because you've looked at editor are you just aware of it. There are. So you were saying about and now are we right that there you know three to 400 square feet does that sound right. Interest in and out what kind of price points did you see for purchase and then what can arena price point. I'm out. They ought. Under. Or. And you. Oh it's important. Well looking. Oh wow. Okay that's a lot more than we wouldn't fall. For 400 square feet. As a C accuracy it has been brilliantly things well that looks like that's what they're trying to date ninth and a high turnout magic in revenue generator out in front running and maybe we should get together about four yes the team and I got another wanna spend around 400 square foot house. Partner with the caliber. It. What about. What about number that I mean what was its total lines. Quote I brought it pretty. And it ought. How about it a lot to know her pop under a dollar a lot grow a lot with all your ability. There yet said like JD said the developers sticking his toe in the water and you almost want out there that police don't go there give us a forward in order to pictures yeah absolutely. Well listen guys we appreciate the insight we were. We have had this this topic on the show three or four weeks in a row now. And so it seems that there's quite ability interest and driven by some of us that he just a tiny houses has taken over tax questions. How popular. This. It. Absolutely. Listen we appreciate golf in my attic or do you assert your head up. Yeah sure. It. Pick up. All court. Asked a lot more time so as a percentage return OK got it I sure will hang deafening answer that question Ari thank charity golf. So Keith we'll let you start from realistic perspective when you do in the math Larry what kind of turned a year ago what kind of returned your investor clients generally looked yeah that. That's very interesting question because what your talking about as your return on your investment what typically in a commercial industry that refer to is a camper right. So when you invest him back commercial piece of property. You you create a schedule a projection and determine what she's saying is the camper right yup and typically in the commercial world. My guess eases that pain in residential that number has come down from them along. Traditionally it was a net ten plus or minus one. Young Jason you do it can't break ten plus or minus one yeah but because of the low interest rates in the lack of return on investment. My guess is investors would drive that down today where if you got a seven or eight yeah right percent return on your money. Yes you know I think investors look at it as a cash on cash usually. The case and yet how much cash of I got in the deal investing is different. Because you can control of 400000 dollar my eyes that's too that you can control it 250000. Dollar asset. With twenty fab or 40000 anywhere in their. What's investment today to 15% minimum a minimum yet you know building they end up Menem I don't think 45% preferred fifteen. Is is an animal object so typically if you if you are purchasing. 200000 dollar house for as an investment. You're gonna need about 40000 of your own money I try and so when you run the numbers you've of course again getting the benefits of depreciation write. The tax that property taxes are gonna triple. In when you beat him maintenance vacancy. When you put all those things management fees if you're having somebody else hey you need to see an 8% return on your mind. Yeah otherwise that investors will move that capital into another. I have to another hard hit class and then of course as far as renting the home goes Keith. You know who each segment amend priceless so the market. Is gonna have you know who pluses and mom I try and so you know if you're looking in that 75000. Dollar price point. Did you know that first time home buyer market because there's a little little. Inventory. This can be tight end in if you do have that type of property is probably gonna rip fairly well. Fairly quickly you know Jay-Z and our haven't discussion about a property this week. And and the question was do you invest this money into the property to fix it up or do you just cashing out the cellar right now. And and one of the questions we asked the management company was what how quickly. Will this rain and he said I haven't rented before I finish the work here. Yeah he's stick to send any ardent and for taxes and it'll rain and the arena. From the last comment entering into this time it was and from from the last contract this one point I don't Xen is going to 25% increase. And he said you might can even go higher than that it might just take me a week or two longer ran. Internationally and in the question of rant is always. A very very important. Investor question yes the old rule of thumb was 1% in fact can pay you find you 1% renal out of it yet what percent of their value yes that was a thumbnail rules to jag eight. My guess is is probably point 82 point oh man yeah I'm percent of the value of the property yet so it 250000. Dollar house might grant for. 2000 bucks anywhere from 1850 to 2000. Well we found out who. That exact topic on their tail on the road have inherited when racial gangs now no no listen traditional. For suburban environment yeah when you get downtown. All bets are off OK but so one bedroom apartment a one bedroom 600 square foot apartment Michael she. Twelve on about driving and about X that's exactly right two bedroom two bath might cost you 1657. Visit it and I guy. It nice just to work and a healthy market that yes. I mean I had a tea I think sometimes we forget how blessed we are to be working in the market where your employer even here in the downturn we didn't have a ton of speculation. We didn't mean it it existed but I wasn't. A long ago when we are taking calls layout bought a property for 280000. And I need to refinance some pain in five point 75%. Dip in my house is only worth 240s get what do I do I do like Dave. We got this thing coach Hart says. And you know I was just read some stuff this week about how. I think 25%. Of the properties that sold. This was a national thing. Sold for more than. Than asking saying Anna to fast track it happened. It and I was like. Really I thought I found it to be. It was it was actually over 25% I was like you've lowered its abyss amazing and then the number as we all know who are or should know the number of delinquencies. Is continuing to fall to it just all Tomlin levels which is kind of interest in. And then of course the number of affordable houses as Austria vulnerabilities becoming more about becoming an issue. All driven by appreciation nitrate. I've got a client mind's free daughters can be ready when you exactly add friend of ours in the air moving from the suburbs how where we aren't they want a new downtown now she wants project and there and to ministers now on this and in the end they were under contract on our property. And it fell out for one reason they discovered asbestos is something right. And so they were raven well yeah I'll talking to her she was over the house the other day and she studio we're definitely moving downtown and we won a funding deal. Tallahassee. That is deleted all the time. Well I never happened. Yeah I don't. Don't we are not timing out and more convinced that you listen I'll just go and out of Sonoma are you guys on this worth 150 wanna sell for fifty Paulus yes I was about her but a but. You know I think they're portals and don't well I think it's what Keith pointed out earlier and I think we're off here. It's it's that investors this woman again just a little bit further out. This willing to have that Oscar optimistic approach of the market that's willing to buy the 42000 dollar house. And have the vision. Of woman who would put the second half hour may tolerate the wrist yet tolerate it and thestreet visions part of it yeah recent Tolle risk tolerances well. Analysts say not as yet there's 200 wings set highway. Via hidden from downtown. It passed Tommy's and head straight on out torched your radio keep on going outsourcing firm in my predation is that isn't going to be a hot area. Guess why are not under I like the clinic at half. I know but you're right about if you were looking for an opportunity. He be speculating a little bit we've talked on the show a number of times about the industry. The brokers. We felt that that TR area would jump. When they did to place it meant more riding we felt the clears that mountain park would be the catalyst. To add to tell all the development and T are in guess how wrong we were it was their rabbit trails. Yeah absolutely. Yeah yeah it's crazy mean. And never would have thought. That. The market is is the downtown market in a bike trails. Okay I was not colony. And a unstable Miami and you are gonna go about how. Maniac. That's a prized possession of both that's very sad empty all for us and I never been on the swamp rabbit trail maybe I'm just one in Houston initially analysts. Mama. I was an Alabama. I think when when Morgan was. Was tour and down they are looking at the school and some guys. Young guy eight years old and his dad got on the elevator would there bikes and when I told him I was from Greenville they said no. The swamp rabbit track is so its domestic work is mostly World Bank's it's amazing it's amazing how that market is that changing and I'll tell you this of Keith wrote about it in his newsletter and if you'd like a copy of it. She is an email asked JD accounting bank mortgage dot com. He hit keys written perspective about that of course if you look at for mortgage buying selling. We're heading in the home buying season you better start early JD staying starter early give jedi ecology tell how to get attention these. 331 home is a phone number or email ask JD SAS cage 88 county bank mortgage dot com years older we get the cooler were not how. Out of three it's after I have a good way Gillis of the house plans will be back next week.
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