sellers aren't even looking at offers that don't have appraisal gaps written in.
-
ODT Gun Show & Swap Meet - May 4, 2024! - Click here for info
Looking For Real Estate Guys
- Thread starter Shags
- Start date
sellers aren't even looking at offers that don't have appraisal gaps written in.
A lot of owning rental property is about expectations. I’ve been in the rental business since 05. I had a lot of hard lessons. I dint make any money until the last couple years. See the photo. That is last weeks gem.
Understand your insurance and liability.
i can tell you stories about picking up rent from a grown man wearing camouflage pants and red high heels and I can tell you about tenants I already have next months rent from. Understand your plan and your exit strategy.
Understand your insurance and liability.
i can tell you stories about picking up rent from a grown man wearing camouflage pants and red high heels and I can tell you about tenants I already have next months rent from. Understand your plan and your exit strategy.
Attachments
I've been a landlord and a flipper.
Happy to offer general advice, feel free to shoot me a message.
Regarding the market- I'm in the minority, but I feel a correction is close.
Everyone mentions the imbalance in supply and demand but few people consider why (hedge funds, flippers, etc) and the effect a market downturn, even in other areas, will have.
Or, municipalities will start prohibiting certain buyers and rent increases. This is happening in Canada and other places right now.
At some point, the market will turn.
Again, I'm in the minority, but many of the hedge funds will dump their inventory when this happens... (Like Zillow did)
Prices go up when everyone is buying and there's a little supply. Prices a go down ( faster than they go up) when more people are selling than buying
Happy to offer general advice, feel free to shoot me a message.
Regarding the market- I'm in the minority, but I feel a correction is close.
Everyone mentions the imbalance in supply and demand but few people consider why (hedge funds, flippers, etc) and the effect a market downturn, even in other areas, will have.
Or, municipalities will start prohibiting certain buyers and rent increases. This is happening in Canada and other places right now.
At some point, the market will turn.
Again, I'm in the minority, but many of the hedge funds will dump their inventory when this happens... (Like Zillow did)
Prices go up when everyone is buying and there's a little supply. Prices a go down ( faster than they go up) when more people are selling than buying
It was amazing to watch the downturn last time as a real estate developer. It was like one day everyone woke up, quit spending money, and real estate was no longer a safe investment. This preceded the actual crash by a year. There was irrationality in the market then and there is irrationality in the market now. Like you said, once the institutional investors start dumping houses, it could get fugly again.
Irrational exuberance. It can happen with stocks, real estate, crypto, anything. When it gets to the point where people are paying insane amounts of money for something, believe it can't go down, and are critical of people suggesting that all markets are cyclical- you know it's a bubble. The problem is that most people in real estate, or other asset classes, are in an echo chamber and only here people saying the same things over and over. I feel really bad for a lot of the newer investors and brokers who are confusing the luck they have of being in a hot market for skill.. it will be a tough correction and learning experience for many.
I flipped house between 2009 and 2011 in the Decatur area up Lavista Rd. to Briarcliff. Made a lot of "credit"
Personally, I would wait until after the crash. It won't be as speculative as it is now.
My plan was to go to established neighborhoods, find the house that was never taken care of and offer them a way to move to a newer, less expensive property. My advice is to be creative.
Personally, I would wait until after the crash. It won't be as speculative as it is now.
My plan was to go to established neighborhoods, find the house that was never taken care of and offer them a way to move to a newer, less expensive property. My advice is to be creative.
honestly it may have come out of some economics postings i was reading about on 4chan or another message board (dont let that source taint the facts). we were discussing a recent bretton-woods 3 briefing released by pamp-suisse in which the economic word leaders have all basically acknowledged that fiat is a ruined idea and that the new dollar must be backed by something but certainly not something like a hard asset such as gold, silver, or oil; rather they are going to tie it to freight costs (because you and i have no control over shipping magnates and their business)
anywho, since the dollar is dumping the discussions shifted to hedges and property became a very quick focal point. to surmise the conclusion i came to property is a great asset so long as you build equity via use, aka you have to live in it or use the land productively for it to be a hedge for the individual but in of itself it is not a hedge. but as an investment right now it sucks because of the over inflated demand and stupid amounts of credit being lent; when the chickens come to roost the housing prices will have to line up with the cost of all other real world assets (CPI, OIL etc.) and housing has far outpaced these. and the dollar be damned, we are measuring asset vs asset class, not a dying currency
that infographic itself i believe was put out by some private group called investech
