All Forum Posts by: Eric James

That was my thought, I am putting a little doubt on this story - yes this happens in DC in SE and NE which there are not many $2.3M homes in that area unless its multiunit.

Doubt all you want , I didnt ask the address, or the sq footage , dont care . I was just glad his guys didnt get shot or killed . I do know the GC company name and the Electrical contractor , but wont put that out here , I did talk with lead on the job and he said he will quit before he goes back there . The owner wont put his men back in that type of harm

I believe you, but like the name or not, that's a war zone.

0 Votes

Quote from @Matthew Paul:

Quote from @Eric James:

Worth $2.3M and in a war zone. What type of property is this?

New construction , not in a war zone , Its just in DC . From what I have heard is criminals search out contractors , there can be big scores in their trucks .

New construction of what?

0 Votes

Worth $2.3M and in a war zone. What type of property is this?

1 Vote

Quote from @Jay Hinrichs:

Quote from @Carolyn Fuller:

Quote from @Lauren Kormylo:

I don't have international guests. But this absolutely will affect international travel. I have family and friends in Canada who regularly visit the US, and they've cancelled all trips for the foreseeable future, they are hopping mad. I don't know how much this will affect guests from other countries, but it is bound to. I hope since your guests come mainly for the school there, you'll be spared a lot of it.

Unfortunately, this administration is at war with universities and scientific research and I rely heavily on Harvard & MIT which are taking major hits. They have already frozen hiring and I suspect that means there will be fewer visiting scholars. That certainly feels like what is happening, given the fact that our MTR inquires are way down and we haven't leased the full calendar year.

There are 4 legs of our retirement income and 3 of them are under threat (Stock Market, Rental Income, Social Security).

I agree that we really don't know what will happen with Social Security but Musk has certainly been rattling his chainsaw.

We know what is happening to the stock market but some people think it is short term pain and others fear a recession. I'm a lot less sanguine than @Bruce Woodruff but I also am in wait and see mode.

And I know for a fact that my rental income is taking a major hit. It now just depends upon how large a hit. So far, I know we will be down by at least by $6000 this year.

Sigh...

jsut a question why do folks think Social security benefits are going to go down this year ? mine actually went up .. I think what is happening is DOGE is just going to cut the admin fat out of SSI and the fraud of paying folks that dont exist etc which we know happens.. as for benefits for honest citizens I dont see anything that indicates those are at risk .. unless I am missing something. just seems to me to be the TDS and now the MDS alive and well.

Harvard is mega rich.. why do they need the feds at all.. I mean I have seen some of the investments the harvard endowment fund has made in SW washington.. They bought the Cathlamet tree farm a few years back about 500 million..

Those big universities don't want to spend their own money. They are profit centers that get massive federal grants (as well as over 50% indirect cost money from the grants) and charge everything to those grants. Many faculty don't even get salaries from the universities, they have to bring in their salaries through grant money. I was in that game.

4 Votes

I'm not sure what type of real estate you're referring to. Over the last 7 years financing SFH has been very easy through local commercial banks. Has always taken 3-4 weeks from application to closing.

0 Votes

Quote from @Patrick Roberts:

Yes, there are approx that loans that should be in foreclosure, but theyre not, and in my opinion, are unlikely to be. If you look into the data, you'll see that something like 500k of these are 90+ delinquent, but the average days delinquent is over 500. These loans have been sitting in limbo for years, and my guess is that it's unlikely they ever make it to foreclosure. There are so many programs for homeowners to mod, access forbearance, etc, to keep them in the homes that I doubt these are resolved anytime soon.

On the other hand, I think investment loans are something to watch for forced selling. A lot of DSCR loans being made right now are on the fringe of solvency, and I expect more pressure in this market segment as operating costs continue to rise and rents continue to stagnate over the next couple years.

The FHA loans aren't in default because they're doing approaching 30,000 "COVID relief" workouts per month for delinquent borrowers. That program was recently extended until next spring.

2 Votes

It isn't just bad neighborhoods. The first place I bought was a triplex in a B area. I lived in one unit and managed the other 2. During that time it cash flowed well. But when I moved out of state and had to pay a PM and contractors for all work that needed to be done I only broke even on it. I sold it a few years ago and did clear $60k gain. Self managing rentals in the area I live in I don't have to pay to place tenants, can see for myself what work needs to be done at turnovers and either do it myself or have an employee on payroll do it for little cost. It's a world of difference than long distance investing.

1 Vote

Philadelphia, Pennsylvania

I believe he previously filed a criminal complaint in TX that apparently didn't lead to any type of action.He has been preparing to file a federal criminal complaint. He claims that people in TX appraisal districts have gone on record admitting to falsifying property assessment data.

2 Votes

Minneapolis, Minnesota

Is this based on some data regarding actual "millionaires" or is this just made up?

Also, what people do with wealth once they have it isn't necessarily how they made it to begin with

7 Votes

There are many other covariates that may explain more of the variation in price appreciation. Such as population density (urban vs rural) and population growth that may be more relevant than political affiliation.

2 Votes

All Forum Posts by: Eric James

Eric James has started 22 posts and replied 2236 times.

Post: Subcontractors walked off the job and wont return . Heres why

Post: Subcontractors walked off the job and wont return . Heres why

Post: Subcontractors walked off the job and wont return . Heres why

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