WARNING: If You are Writing Offers on Real Estate Today and This Happens YOU PAID TO MUCH.

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good morning good afternoon good evening

folks michael zuber one rental at a time

back with the boys from convoy jonathan

and dustin how you guys doing

good good how are you i’m doing well so

i wanted to have an honest conversation

uh i think the real estate market is

crashing but

i don’t think investors including my

followers

have yet appreciated how much power and

opportunity is in front of them i

believe people doing the work

are excited because today is different

than last year last year was hard you

had to be fast you had to overpay you

had to waive conditions you had to do

stupid things

today has clearly changed listings are

exploding fear of missing out has gone

from the buyers to the sellers i want my

followers in in

uh students to know i’m excited for you

right

write better offers right you guys have

been this you’ve seen the markets i

think investors are getting excited

we’re getting some deals

but i want you to write better deals so

let’s talk about it what do you guys see

and what’s going on

yeah i would say

right now a lot of the as you just

touched on in the last minute or so

the

you know powers kind of switched from

the seller to the buyer in this market

specifically on you know investment

properties right um we’re seeing on

average you know the amount of

offers that are getting accepted let’s

say in two to three days without any

sort of counter offers from the seller

you know on these investment properties

have you know significantly increased

just from six months ago and then the

you know amount of uh you know

contingencies and and requests from the

seller that may have been in place six

months ago such as you know no appraisal

contingency no inspection contingency 21

day close all of those are being removed

because they know that the market

or amount of people that can now qualify

you know to buy their investment

property has shrunk so they can’t be as

you know over uh um you know requesting

of

all of these guidelines on their own

personal end right so

it’s a great time for investors because

of the fact that there’s a lot less

competition and if you’re writing

deals you know six months ago

well the deals that you can write now in

my opinion

are a lot better because it’s cheaper in

terms of the cost yeah the the uh you

know month month-over-month payment

because rates have went up may be

different but just because the rate and

the payment’s higher doesn’t mean that

the spread or the cash flow that you can

make

is going to be less than what it was six

months ago yeah dustin i want to hit a

couple of things you said because i

don’t think people will pick up on it

and if they did

oh well it’s my show

uh first off you had said kind of early

in that that you’re seeing more and more

offers accepted without counters

my um

coaching to my followers as investors is

offer less

100 if your seller accepts your initial

price you probably are overpaying

just my opinion

again i’m only writing great deals i

talk about i teach good and great good

one out the window the market’s coming

to me i only need to do two or three

deals this year so i’m only writing

great offers and

again i think personally my opinion not

these are not your words these are mine

if you make an offer to a seller and

they accept

you pay too much i’m going to offer

numbers that almost force a counter

because i want to again my my job as a

buyer is to buy an asset i want to hold

the rest of my life

and i’m going to put on a debt i don’t

give a rat’s ass of the debt six seven

eight nine ten percent that’s the cost

of capital it’s just one variable in my

spreadsheet

i’m gonna put that in there i’m gonna

make sure the yield which is what i

teach and talk about hits my minimum

expectations then i’m going to lock it

up with 30-year debt or if you’re

younger maybe 40-year debt

and

if in five years i can refi do a

rate-and-term refi and lower my payment

great if i don’t who cares

i’m locking up cash flow day one i’m

locking on a great deal day one i don’t

have

freaking hope i don’t have appreciation

i don’t care any of this freaking

nonsense

i’m gonna do great deals today and i

gotta tell you if you’re writing offers

that get accepted day one

you offer too much what do you guys

think i think so as well and and you

know what i kind of see is

over the last year i think a lot of and

this is kind of unrelated to loans but

like a lot of real estate agents kind of

hit the market right and

i think a lot of them are might not be

providing the best advice in terms of

offering because a lot of if you are

working with an investor or a real

estate agent and you’re not writing

offers or doing something by yourself or

it’s not an agent that you’ve worked

with um extensively that has a long

history of being able to you know kind

of work through the market um they’re

kind of almost encouraging these higher

offers that go in

and obviously

once they do that then and if you’re not

like an experienced investor or whatnot

then you know unfortunately like you

said the offer will get accepted right

at that price or more

and um and you’re going to be walking

away paying more a premium that will

take longer time to recover if there is

a crash yeah

i

i’ve told all my students i’ll tell them

again here

the last two years have been hard it’s

been hard for me right it’s tough out

there the next two years are not going

to be hard it’s going to be easy to

really easy to find good or great deals

you have to be disciplined you have to

know your numbers you have to do the

daily work but they’re out there

and

really what’s important what you just

said jonathan is i want everyone and

this includes homeowners

everyone who’s experienced the last year

written 10 20 offers been outbid is

frustrated

i need you to ball that experience up

in a tight little ball and throw it in

the ocean it is irrelevant if you take

that experience to the market today

you are going to overpay and do

something

stupid the market changed a crash in

transaction is occurring at a rapid rate

right now use it to your advantage

sellers are getting scared

use it to your advantage

write better deals what do you think

yeah i think that sums it up right there

you go yeah

yeah so folks if you want to understand

you need some non-qm money for whatever

reason these are the boys at convoy they

also do qm loans as well how do you want

them to reach out

uh email private client at

convoyhomeloans.com

or go on our website convoyhomeloans.com

and fill out our web form and let us

know that you’re from orat

yeah and apparently dustin will take

care of you so thank you very much guys

take care

right thank you

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