All Forum Posts by: Joseph M.

@Gregory Storm Corporate events , weddings and guided tours I’m sure the NIMBY neighbors would love that !

@Gregory Storm Right I get that, but I’m saying even the ones big celebrities lived in don’t seem to sell for a premium. I should of been more specific

You should checkout Matt Faircloth's recent Biggerpockets podcast on raising private money. He also has a new book out, I haven't read it but it sounds great. 

Many people are looking to invest in real estate these days, not like in 2009/2010 for example where people were scared since prices were dropping. It's harder finding the deals these days versus the funding.

Links:

https://www.biggerpockets.com/renewsblog/biggerpoc...

https://www.biggerpockets.com/forums/25/topics/595...

As others mentioned the seller is counting on you to close on the deal. Especially since it's a smaller town like you mentioned word could get around quick if you don't follow through and it could hurt you. 

Do the numbers still work if you use hard money to finance the deal?  Best of luck.

@Jackson Sandland I don’t imagine a single business would have a real effect on property prices . I would look at what other businesses are opening up in general in the area . With Whole Foods and Starbucks they usually open in neighborhoods that are already pretty decent , I’d say with Whole Foods especially .

@George Pauley , 

 If you buy a rental you aren't excluding someone else from being able to invest in real estate, it just means that particular house was taken off the market. Your competitor(s)  lost out on that property because you bought it , but they'll be able to find another investment property elsewhere, maybe next door, a block over or in another city.

Also there are constantly new properties being built every day as well. There isn't really a cap on the number of properties /units available in America. Look at an area like Manhattan in NYC. It's been 'built out' for a long time , but there is still a lot of development and construction going on , it's just been getting denser. 

Sometimes a whole city stops making sense for buy/hold investing , this is why we see a lot of people in high cost cities looking to invest in areas like the midwest because they can't cash flow in their cities. Sometimes a whole asset class gets super competitive and then investors look outside of it. Example multifamily cap rates have compressed and it's harder to find deals on apartment buildings today versus a few years ago or so because so many people want to own apartment buildings now. So now many investors are looking to sectors that are less 'hot' like self storage or mobile home parks where the returns make more sense. 

I guess the point is the game is always changing but the opportunity never disappears. One just has to adapt to the changing environment and change their strategies.

Bruce Norris was on a episode of the Real Wealth Show with Kathy Fettke earlier this month. He has a lot of great insights on the market and market cycles.

Link here:

https://www.realwealthnetwork.com/learn/interest-r...

@Chris Szepessy Yeah that is true . According to this link they have 907 employees , that number has probably fluctuated but they still have a lot of employees . Also Invitation Homes is a public company now they went public early last year (2017) so one can actually be invested in the company without being wealthy . The price doesn’t seem to have moved much but it does pay a dividend of 1.92%

Just waiting for a crash so I can get a sweet deal on this piece of dirt...if it's still on the market.

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There Is a $1 Billion Property for Sale Atop Beverly Hills

The highest point in the 90210—a 157-acre, undeveloped lot—has sweeping, 360-degree views from Malibu to downtown Los Angeles and the San Gabriel Mountains.

So large is the prized piece of real estate that all of Disneyland could fit within its confines and still have 57 acres to spare. Press materials liken a visit to the site, accessed via Benedict Canyon, to a “god-like experience.”

https://www.bloomberg.com/news/articles/2018-07-30...

@David S. , I do agree it's important for one to question their own motives as you mentioned . I know on the BP podcasts and elsewhere this is referred to as the question, "What is your Why?" 

I think one's 'why' changes and evolves as well. If someone is single and in their late teens , early 20's it's probably going to be a lot different from someone in their mid 30s for example when they are more likely to be married and have kids.