November 24, 2023

How to Tackle the Current Financial Climate

14 minutes

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.

Challenging Times for New Investors:

Many new investors are navigating unfamiliar territory.

Interest rates are fluctuating, and it's crucial to explore multiple lenders.

Don't rely on a single lender; consider local banks, credit unions, and mortgage brokers.

Avoid DSCR products if possible, as they often come with prepayment penalties.

Protect your credit and DTI by strategizing your mortgage applications.

Importance of Underwriting and Education:

New investors should focus on learning how to underwrite property performance.

Bill teases the upcoming launch of a "Rookie to Intermediate Mastermind" for novice investors.

Proper education and strategy are essential in today's challenging market.

Interest Rates and Economic Outlook:

The economy has shown signs of slowing down, but there's uncertainty about when it will stabilize.

Interest rates have fluctuated, making it a challenging time for investors.

However, if a deal makes sense financially and you can get it done, it's a good investment.

Repositioning Properties:

Repositioning properties through refinancing can lead to substantial savings.

Bill shares his personal experience with refinancing and its impact on cash flow.

Emphasizes the importance of not relying solely on cost-saving benefits when buying properties.

Financial Preparedness:

Have at least six months of carry costs set aside to weather any downturns.

Calculate all expenses, including mortgage, insurance, utilities, and fees.

Having a financial cushion provides security and prevents hasty property sales during tough times.

Conclusion:

Determine your cash-on-cash return and cash flow based on your unique situation.

Bill follows a minimum of 15% cash-on-cash return, but each investor's threshold may vary.

Investing in today's market is possible with the right financial strategy and education.

Thanks for joining the STR Unfiltered podcast.

Learn more about your ad choices. Visit megaphone.fm/adchoices

...more

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By Bill Faeth

4.8

9494 ratings

November 24, 2023

How to Tackle the Current Financial Climate

14 minutes

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi!

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.

Challenging Times for New Investors:

Many new investors are navigating unfamiliar territory.

Interest rates are fluctuating, and it's crucial to explore multiple lenders.

Don't rely on a single lender; consider local banks, credit unions, and mortgage brokers.

Avoid DSCR products if possible, as they often come with prepayment penalties.

Protect your credit and DTI by strategizing your mortgage applications.

Importance of Underwriting and Education:

New investors should focus on learning how to underwrite property performance.

Bill teases the upcoming launch of a "Rookie to Intermediate Mastermind" for novice investors.

Proper education and strategy are essential in today's challenging market.

Interest Rates and Economic Outlook:

The economy has shown signs of slowing down, but there's uncertainty about when it will stabilize.

Interest rates have fluctuated, making it a challenging time for investors.

However, if a deal makes sense financially and you can get it done, it's a good investment.

Repositioning Properties:

Repositioning properties through refinancing can lead to substantial savings.

Bill shares his personal experience with refinancing and its impact on cash flow.

Emphasizes the importance of not relying solely on cost-saving benefits when buying properties.

Financial Preparedness:

Have at least six months of carry costs set aside to weather any downturns.

Calculate all expenses, including mortgage, insurance, utilities, and fees.

Having a financial cushion provides security and prevents hasty property sales during tough times.

Conclusion:

Determine your cash-on-cash return and cash flow based on your unique situation.

Bill follows a minimum of 15% cash-on-cash return, but each investor's threshold may vary.

Investing in today's market is possible with the right financial strategy and education.

Thanks for joining the STR Unfiltered podcast.

Learn more about your ad choices. Visit megaphone.fm/adchoices

...more

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How to Tackle the Current Financial Climate

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More shows like Bill Faeth Unfiltered

BiggerPockets Real Estate Podcast

Tax Smart Real Estate Investors Podcast

Slick Talk: The Hospitality Podcast

Thanks For Visiting

Ken McElroy Show

Real Estate Rookie

Short Term Rental Secrets Podcast

BiggerPockets Daily

The Short Term Show

Good Morning Hospitality

The Hospitality Mentor

On The Market

Short Term Rental Secrets Podcast

TRAVEL redefined

STRonomics

STR Data Lab™ by AirDNA

The STR Sisterhood

The Vacation Rental Micro-School

The STR Home Financing Podcast

The Rich Somers Report

Short Term Rental Management

The BetterLife Podcast

The Pink Elephant with Chris Adams

Short Term Rental Pros Podcast

Short Term Rental Solutions

Workflows & Espressos

Cash Flow Positive

The David Greene Show

Suite Success: Masters of Hospitality

The Hospitality Breakroom: Certainty Served Weekly with Inhaven