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Top related persons:
Sam Primm - 2 Lucas Walls - 2 Primm - 2 there's - 2 Sharon Tseung - 1 Tseung - 1 Chris Gerbig - 1 couldn't - 1
Top related locs:
Primm San Francisco Bay Jacksonville , Florida Lemoore , California refinance St Louis , Missouri
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Primm - 2 San Francisco Bay Area - 1 MLS - 1 Federal Housing Administration - 1 Department of Veteran Affairs - 1 Department of Agriculture - 1 Faster - 1

Search resuls for: "Sam Primm"


6 mentions found


☆ 5 tips on how to buy property in a high-interest-rate environment from 5 real-estate investors who started with little or no money down
  + stars: | 2023-10-17 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +8 min
The average 30-year fixed mortgage rate hit a whopping 7.43% on Monday, a level unseen in the US in almost two decades. That same setup would cost $2,222 a month with today's mortgage rate. Regardless of which direction the pendulum swings, investors can still navigate their way through the housing market with a few tips. If a buyer were to purchase it today, with a 20% down payment, monthly mortgage costs would be $3,350, according to Insider's mortgage calculator. He then secured the remainder of $910,000 from a bank at an interest rate of 6.5%.
Persons: Sam Primm, Lucas Walls, Primm, there's, Sharon Tseung, Tseung, Chris Gerbig, couldn't, Gerbig, he's, Matthew Tortoriello, Tortoriello, Ana Snider Organizations: Primm, San Francisco Bay Area, MLS, Federal Housing Administration, Department of Veteran Affairs, Department of Agriculture Locations: Primm, San Francisco Bay, Jacksonville , Florida, Lemoore , California
☆ A 35-year-old real estate investor who bought more than 200 properties using none of his own money shares 5 adjustments investors can make to keep thriving amid the highest mortgage rates in decades
  + stars: | 2023-10-07 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +7 min
In the past, he recommended investors aim for a positive cash flow of $300 to $500 a month. The new normal could be a monthly cash flow of $100 to $200. Depending on a local bank's risk tolerance, growth strategy, and strength of their books, they can offer competitive rates, Primm said. A few units reserved for mid-terms that are furnished are renting for $2,250 a month: that's a 125% increase in cash flow, he noted. "But if there's enough people and there's enough concentration, there's going to be a fire, there's going to be a tornado, there's going to be something happening all the time."
Persons: it's, Sam Primm, who's, there's, Primm, Lucas Walls, Lucas, arbitrageurs Organizations: Primm, Faster Locations: refinance, St, Louis , Missouri, Primm
☆ A 35-year-old real estate investor who bought 58 single- and multi-family homes during the peak interest rates of 2022 shares his top 4 tips to lock in the lowest rate and beat the bank
  + stars: | 2023-02-14 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +6 min
He recommends shopping for mortgage rates at small local banks. Primm is no stranger to high interest rates, but they have never deterred him from investing in real estate. This allows the buyer to keep that ultra-low mortgage rate a seller may have landed, which could be half the current rate. In this case, Primm says he may agree to the higher price in exchange for taking over an incredibly low interest rate. They have more flexibility with their interest rates because they don't sell the debt on the secondary market, but keep them in-house, he added.
☆ A 33-year-old who co-owns 167 rental units after putting zero money down explains the pros and cons of the buy, rehab, rent, and refinance approach he's repeated to build his real-estate portfolio
  + stars: | 2022-12-31 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +6 min
He discovered the BRRRR method — buy, rehab, rent, refinance, and repeat — while he was renovating his first investment property. This way, he could get a quick payout in cash and then use that money to buy a long-term investment property to rent out. The pros of the BRRRR methodThe biggest benefit is you're using someone else's money to buy an asset that produces cash and grows in value, Primm said. "There are way more good tenants out there than good landlords," Primm said. "So if you're a good landlord and have a good house, you're going to have your pick of really, really good tenants."
☆ At the age of 33, Sam Primm owns 167 rental units after putting zero money down. He told us how he got started on his first property without any experience, and the loans he secured that helped him re
  + stars: | 2022-11-27 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +7 min
Sam Primm used a private lender for his first property, then transferred his loan to a mortgage. Sam Primm said he bought his first property at the age of 26, using money borrowed from a private lender. He borrowed money from a private lender with a plan to pay it back after renovating and selling the property. This let him pay off of existing liens — in his case, the private lender. For that, there are two types of lenders Primm uses to purchase properties initially, a private lender or a hard-money lender.
☆ A young couple accumulated 30 rental properties in less than 2 years. They share how they got started on their first property and quickly scaled without using their own money.
  + stars: | 2022-11-24 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +6 min
Camron and Alexis Cathcart sold their home and put a down payment on a rental property. Camron and Alexis Cathcart own 30 rental units that they say bring in enough cash flow to make them financially free. And we grabbed a pack-and-play for our 2-week-old daughter," Camron said. So they kept their cash in the bank as a cushion and used a private money loan from a family friend to purchase the second property and a hard-money loan for the third property. They repeated this process several times until they accumulated 30 cash-flowing rental properties in less than two years.
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