All Forum Posts by: Bryan Devitt

They're asking about while they still live there, during a time when going after them is banned by the federal government and most states

In most states you can't refuse to take it, in my state they pay above market in most cases so you can't price it above what they allow. You can refuse to fix stupid items so you don't pass inspection (i.e. paint worn off a stair riser). on average, it will not be taken care of as well, there will be more maintenance calls, more things will be broken, you need to have more documentation for everything before, during and after it is rented but you will get rent on time. In times like this, not having to worry about rent coming in might make it worth it. I think it really depends on where you are, what class you're in (there is a huge difference between war zone section 8 and the upper tiers of section 8), what condition you want to keep your buildings in, if you want to use a management company, if they're used to section 8, how much profit you want to make, etc 

No

There are no pictures because there doesn't need to be pictures right now. Multis are flying off the shelves if they're anywhere close to priced right. When it becomes a buyers market then you'll see more pictures put up with listings 

There is no black and white answer to this. What are your life goals? What do you plan to do for work in the future? What trade? What do you think you would get out of it? Do you plan to pursue it as a career or just use it to save money later? If I had to do it again, I would be a plumber. They make the most money right now, but who knows what they'll be able to charge in the future. Electricians make decent money, but I bill out the same rate my electrician does. My plumber is almost double what I am and most plumbers I know clear $200k, one I just found out is clearing $600k with a dozen guys in the field and 5 in the office. That isn't what the company is grossing, that is what he is personally making a year. Not a typo. So, I would definitely go back and be a plumber instead. I would also save me a ton of money on renos because plumbers around here are charging $3000-4000 for a standard 3 piece bathroom (labor and rough parts only, no valves or fixtures). 

 This is when they do what parts of CA have done, but nationally. They use the lack of housing as a reason they need to take total control of the situation and control rent, eliminate discrimination (via not allowing background checks of any sort), etc. The government (and everyone that rents and wants someone else to give them handouts) ignores that this issue was created by government intervention and insists full control is the only way to fix it. The government does this with everything they touch really, dip a toe in the water, contaminate the pond and insist the only way to fix it is if they're the only one's allowed in the pond. 

 More people rent a place to live than rent out a place to live, it is merely a large population of votes to buy, nothing more, nothing less. Any time you see a law pushed in public, it is almost always for votes, any time you see one pushed in private (i.e. Friday night of a holiday weekend vote) it is to steal more money from tax payers or take more control. Very rarely are laws there to actually help people/society in the long term 

With this much government intervention, I don't think we'll hit bottom for a solid 11 months. There are too many programs inflating the market right now in various ways. *IF* they're not extended and there is only a 12 month max moratorium on foreclosures and unemployment assistance ($600/wk additional) isn't continued past the 39 weeks, it should be a rather quick crash. For that reason though, expect more government intervention to kick the can down the road further. It will happen, just a matter of patience. I would rather buy 10 buildings at the bottom over 12 months in a year or two and have them all appreciate than 1 or maybe 2 now and be under water and unable to use leverage to acquire more for a handful of years. 

 A person I know who works for NCL said they don't think cruising will open back up again until October. I said I wasn't planning to buy cruise stocks for another few months until they bottom out and she said the stocks already hit bottom and they're going back up now, so the dip is over. I think that is the general mentality now and that is the reason they're going up right now. People think the virus is almost over, so America will open back up and things will go back to normal. There is ZERO chance of that. People are now going to have to catch up on rent, mortgages, credit card payments, etc and have much less disposable income for a while even in the best case scenario. I think best case for cruise stocks is they dip back down to their lows or just under, one of them goes out of business or has to merge in order to consolidate their routes and be profitable and then go back up to their previous profitability in 3 years. It will be incredible returns if that is how it works out, I think it takes longer to come back from what will turn out to be a long depression though and the returns will still be great but with a much longer payoff. I am also spreading money across all the cruise stocks as a hedge against picking one that goes out of business. They should all have great returns but if one fails, it is still a great return. 

All problems have a price tag attached to them and everything will sell at the right price