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Mike & Kyle break down the specifics of how a rate buydown actually works.

Mike Boyle at Canopy Mortgage:
https://canopymortgage.com/lo/mikeboyle/

Don't miss our other episodes:

013 - May Market Update, Using Days On Market to Find Deals, & REI Meetup Notes
• 013 - May Market Update, Using Days O...

012 - Finished vs Unfinished Basements, The New 1% Rule for REI, & 10x is Easy Than 2x
• 012 - Finished vs Unfinished Basement...

011 - No Fed Interest Rate Cuts, 3 Ways To Invest in RE Right Now, Start Using ChatGPT
• 011 - No Fed Interest Rate Cuts, 3 Wa...

Chapters

00:00 Introduction and Market Story
03:45 Introduction of Mike Boyle from Canopy Mortgage
11:16 Explaining the Three, Two, One Buy Down Loan Strategy
24:55 Importance of Building Relationships in the Mortgage Industry
29:27 Using Trello for Project Organization

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Summary

In this episode, Kyle discusses the May market conditions in Fargo, Moorhead, and West Fargo. He highlights the two different real estate markets within the area based on price points, properties priced at $350,000 and below are in high demand and experiencing a seller's market, while properties priced at $350,000 and above are seeing more stagnation and price reductions. Kyle emphasizes the importance of watching the days on market metric and how it can indicate negotiation power for buyers. He also shares the value of attending local real estate meetups to learn and network.

#Maymarketconditions #Fargo #Moorhead #WestFargo #sellersmarket #daysonmarket #REI

Chapters
00:00
May Market Conditions in Fargo, Moorhead, and West Fargo
02:05
The Two Market Market: $350,000 and Below vs. $350,000 and Above
05:22
The Importance of Watching the Days on Market Metric
09:41
Negotiation Power in the Market
14:01
The Value of Local Real Estate Meetups

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Subscribe to the Midwest Invest Report NEWSELETTER and unlock key insights the Fargo/Moorhead real estate market. https://midwest-invest-report.beehiiv...

Summary

In this conversation, Kyle Reedstrom discusses the idea of the new 1% rule in real estate investing and the importance of finishing unfinished space in homes. He also recommends a book called '10X is Easier Than 2X' by Dan Sullivan as the tool of the week.

Takeaways
- The 1% rule in real estate investing is becoming harder to achieve due to increasing property prices and expenses.
- To hit the new 1% rule, investors need to either lower expenses or increase income.
- Finishing unfinished space in a home can add value and potentially increase ROI.
- The book '10X is Easier Than 2X' by Dan Sullivan is recommended for business owners and those looking to think bigger and achieve greater success.

Chapters
00:00 Introduction and Market Minute: Finishing Unfinished Space in Homes
06:55 The New 1% Rule in Real Estate Investing
14:49 Lowering Expenses and Increasing Income to Hit the New 1% Rule

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