Right now we’re going to wrap up our conversation on DOS- Dangers, Opportunities, and Strengths.
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Marcia Edwards: We’ve been talking about the first conversation that Bob and I have with potential clients, future clients, and maybe a client now, or maybe someone who wants to move two years from now with their money and opportunities. We’ve been talking about what we look at, and what we talk to them about in order to understand who they are and what they want.
Bob Nelson: It’s abbreviated DOS, D-O-S, Dangers, Opportunities and Strengths. In the last couple of evenings, if you’ve listened to us, you might be saying, “Oh my gosh, they’re going to do it again.” But it’s so important to be able to ask a person to focus on those three issues, not at the same time, one at a time, talk the whole thing out, and have us listen carefully to attempt to identify where are maybe some weaknesses in your thinking. What are you missing that would cause you to make a good, precise, and clear decision?
Marcia Edwards: The most exciting part for me in the discussion is your strengths, what you bring to the table. And you bring a lot. You may bring some skills, you may bring some partners, you bring some timing or opportunities in that sense. So understanding you is-
Bob Nelson: Or money. You may also bring money to the table.
Marcia Edwards: The obvious one is money. So the strengths that you have that you can share, and the timing, and the resources you bring to the table, that’s the fun of it. We understand the marketplace, and the opportunities from that seat, but from your seat it’s unique to you.
Bob Nelson: And a number of situations you’re not familiar with, your borrowing capacity, that is a strength in all candor. Right now it is such an opportunity to be able to borrow at a very inexpensive interest rate. From a homeowner’s standpoint, if you’ve got good credit, and you can get a fixed rate loan for 30 years, no change in interest rate during that 30 year term as long as you own the property, and again, I’m talking owner occupant, you would be in the upper three percent interest rates is my understanding.
Marcia Edwards: Those are the numbers we’re seeing today as we record this. But looking at the opportunities of money and cashflow, not just what you’re using this money for, but what other resources you have and how you can shift those, is also a strength.
Bob Nelson: Well, and it’s also interesting to further note that, on that interest rate that may be less than four percent, that’s tax deductible in most of the situations that we’re talking about. So take the four percent, deduct your tax rate, you’re down to less than three percent potentially.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.