All Forum Posts by: Account Closed

Zillow stock is 8.92% insider owned. The other 91.8% is the public's problem.

They can continue pissing in the pool and inflating their debt for a good long time if they choose, and if it isn't them, it will some other giant that comes along.

This just isn't going back to being the world it was a couple decades ago for small REI investors.

Originally posted by @Steve Vaughan:

I'm proud that I didn't outbid a single family looking to buy their first home and proud to not have uprooted or raised rent more than  3% on any inherited tenant

Should give you a lot of credit there because REI these days isn't a space where doing right by others is easy at all.

and yes, have to agree with @Joe Villeneuve about the refi on the BRRRR. Never understood why people can't see the plain daylight fact that you are not simply "pulling your equity back out", rather you paying a bank to borrow that equity.

Might be acceptable for some people, but it's amazing how many people you talk to don't seem to recognize that basic reality... one of them in particular being MBA grad from a top 10 business school in a pinch where to place her money after she and her partner refi'd their "equity" out at 4.5% with no existing plan. 

Don't have a lot of faith she'll go on to make a good, solid, lucrative investment at this point considering market conditions, the pressure she's under and the fact that her education and judgement so far haven't steered her better. Downward debt spiral looks more likely. 

Originally posted by @Luther A.:

Hi I am looking to invest in Los Angeles, Ca and noticed real estate is very expensive especially in Santa Monica. 1+ million for decent properties and rents range $4000+. Will there be issues finding long term tenants when rents are so high?

You just "noticed". 

 For your sake I hope this is all just theoretical for you, because based on the question you are asking, if you actually have the money, you won't know how to spot or fend off the parasites that are going to come at you from every direction to separate you from it. They will definitely know how to spot you.

The issues, beyond finding the tenants, are legion. You can read up on these forums, read all the books you can get your hands on, and go to all your local REI meetups, but the best thing you can do is to somehow find a successful local investor who is willing to take you under his/her wing and show you the real ropes, not some cheesy "guru" ropes.

That's also harder than hell to find, but let me ask you, was that 1M easy to earn? The effort to protect it might be worth it. 

Originally posted by @Nathan Gesner:

Racist ‘Landlord From Hell’ Tortured Tenants During Pandemic, Lawsuit Says (yahoo.com)

How does someone become such a bad human being? It's hard to believe he's lasted this long.

"Bad human being" .. come on folks, he deserves at least a golf clap for showing us how woke he is. 

@Tony Kim and are you still buying and holding 4 unit properties in Los Angeles at these valuations? or did you buy those properties years ago, when it made sense.

Would like to buy a small 5-10 unit multifamily that actually cashflow's in a non ****** area. Emphasis on the area. Not accepting crap.

So along those lines, I supposed I'd also like to find a cure for covid and have a supermodel buy me a Ferrari. 

"Investing in real estate during a recession makes many people feel like a
long-tailed cat in a room full of rocking chairs. For others, it’s an
exciting opportunity."

100% on board with exciting opportunity and it can't come fast enough imo.

"But what about new investments? I’ve found that the best investments are
ones made at the trough of an adverse cycle, and ones made during the
initial climb back up."

Again, 100% agree.

In contrast, right now, we are in a bubble, making this one of the shittiest times to be a buyer and get a good return, despite what ever the wannabe optimists are telling you.

The one that actually show's you how to pick up the properties cheap enough to have half a chance at success. By actually, I don't mean teaching you how to theoretically (SEO, "we buy houses" campaigns), I'm talking about them actually getting a property in your hands at the right costs.

Have no idea what course or book is going to do that.

You'll have to grind the 4D's (death,distaster,debt,divorce) till you find someone desperate enough to take a low ball offer, like the other guys do... or if you've got the team, maybe you can do high end remodels buying 800k houses at market price in Los Angeles and selling them for 2m. Not many guys can pull off the later.

Ya, so.. this (2021) is one of the most challenging times, in terms of costs of materials, that anyone's seen in I don't know how many years. Ask an HVAC guy what he's paying for sheet metal. Roofing costs, unbelievable. You aren't alone.

In my opinion low interest rates and bucket loads of gov stimulus are useless when it all ends up coming back to bite us in the end- inflation, outrageous home prices, material costs ect.