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All Forum Posts by: Annette Hibbler

Annette Hibbler has started 91 posts and replied 576 times.

Post: What if a recession is really coming in 2019?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

There's a lot of fear mongering going on. Folks saying that we are at the point of a recession or a bubble and bust in the housing market. I for one, don't believe it. I wrote a blog just last week on this topic on my blog site. I'm happy to share with you, so PM me. 

Truth is...the facts state otherwise. The economy is humming along, jobs hit an all-time high in December with over 300K new jobs created in one month, lending standards are back to normal and show no signs of easing, housing prices are leveling off due to more inventory starting to grow, new construction still has a way to go but is definitely showing signs of life again, buyers are out in force and wages are starting to increase again after 12+ years of stagnant and dropping wages. Recession? Absolutely not.

Post: Not a cool investor, just need life altering advice

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

The easier "get out of jail" card is to sell the house but I always hesitate to give such self-defeating advice. Here's a little tough talk.

Your house is your greatest asset and I advise you to do whatever you need to do to hold on to it. So, the real question is...how self-disciplined are you willing to be? Only you can change your current circumstances. You got yourself into it and can certainly get yourself out of it.

Trim the fat...If you're spending too much of your income and falling down on your obligations, the party is over. Get serious and get your act together. Cut all extras you don't need to survive. 

If you don't make enough and are struggling to cover even your basic expenses, suggest you look for a better paying job and/or take up a part-time job to make up the shortfall.  It's what our parents did to make ends meet. 

Keep in mind that rental rates continue to rise with no end in sight. Giving up your house is self-defeating and should be a last resort option. Certainly not the first option.

Good luck to you!

Post: Buying a SFR in another state

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Hi Mary, I grew up in NJ and then moved to Southeast (Ann Arbor area) Michigan in 2015. I own properties in both states. We have three of our Michigan rentals held in a NJ LLC because intiially that's where we were living and investing in back in 2011.

However, the only reason we had to register that LLC in Michigan was because of a local bank here who wouldn't allow us to open a bank account with them. So, essentially its a NJ company (LLC) that is now registered to do business in Michigan. However, if you're still living in NJ then set up your LLCs there.

Post: What is your system for collecting rent?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Yep, direct deposit works for me. I provide them with a copy of a voided check that has the acct # and the routing number along the bottom. Instruct the tenant to take it his/her bank and they do the rest.

Post: My current status: 3 rental properties... Am I doing it right?

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

How far north are you? Have you looked in areas around Wayne, Kinnelon, or in central Jersey? Areas along Rt 23 and 78 are easy to rent.

Post: Short Term Rental Resources Needed

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Another possibility is to look for rental units near military bases. We have a couple near the base in Biloxi and oftentimes we get requests for short stints 3-4 weeks up to 3 months at a time. 

Post: Property Management LLC

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Many states require property managers to have a brokers license or oversight of broker. Check with your local laws. 

Post: $450k. Ideas on how to invest it

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Now that you have the experience of SF rentals, property management and flips you could conceivably go into MF 5-7 units. But have you considered holiday rentals? My husband and I bought two units in MS last year and it worked out very well. So, well, in fact, we often ask ourselves, "why didn't we do this sooner" and are planning to purchase several more. The key, of course, is to find a desirable area that is up and coming and draws families who want to get away. Look for beaches, amusement parks, shopping, casinos, restaurants, popular yearly events, etc. With $450K, you could easily use portions to of it as down payments to secure several units. There's a lot to consider, of course, such as facilities, HOA, management company reputation, marketing, etc. We really enjoy it.

Post: The Disconnect Between Listing Agents, Sellers & Investors

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

Thanks for your reply, however, I beg to differ.  If the property is marketed to investors, more often than not, they want it cash flowing. 

I don't know the Maryland market so I'm speaking only to my own market & experience. Having sold SF homes also, it's easier to sell a home that is nicely furnished than vacant. Vacant houses sit on the market longer. 

Post: Housing Crash in 2018-2019

Annette HibblerPosted
  • Real Estate Consultant
  • Brighton, MI
  • Posts 607
  • Votes 251

The "experts" have been wrong about many things (i.e. the stock market crash that would ensue if Trump was elected). In contrast to the naysayers, here are the opinions of three major players in the residential housing market:  to view.

A recent article by Teo Nicolais, a real estate entrepreneur who teaches courses on real estate principles, markets, and finance at Harvard Extension School concluded that the next housing bubble may not occur until 2024.

The article looks at previous peaks in real estate values going all the way back to 1818. Nicolais uses the research of several economists. The article details the four phases of a real estate cycle and what defines each phase.

Nicolais concluded his article by saying:

The reason for the price appreciation we are seeing is an imbalance between supply and demand for housing. This has created a natural increase in values, not a bubble in prices. So long as inventory and interest rates remain low, home prices will continue their upward trend. As interest rates rise, prices will level out.