All Forum Posts by: Joanne Tsai

@Shanice Waller

I don’t think it reflects on your PM’s future customer service to the tenants by any means.

Like @Joe Splitrock was saying, we bought a house without a fridge and I asked my PM whether we should provide one before putting on the rental market. He told me “no, it’s not uncommon people want to bring their own fridge, then do you put your fridge in the garage then”? And the house was rented in 5 days without a fridge.

Go on Zillow and see what comparable rentals provide in the neighborhood. Or say you can provide one if it’s needed with “x” more.

@Michael Haynes

The stuff with Rich Dad is this.... yes, the collapse is coming because of the amount of money we are printing, and he has a lot of assets that he has to protect, but has he actually told you where else to invest? He also said Bitcoin right now is too high and he bought it at $9000. At this point, if he is advising anyone to sell their assets to put the money in the bank, then wait till one loses all that purchasing power. It's all relative, a lot of people are rushing into the RE market, because to them, it's less of a bubble than the stock market. We are experiencing an asset bubble, where almost all assets are inflated. Amazon share was $1700/share pre-covid, and now it's more than doubled in a year. Is it a bubble like AMC or Gamestop? would it go down to $1700 when the bubble bursts? I align more with what Ray Dalio's saying; some price surge is dangerous, but not all stocks are bubbles evne though right now a lot of them are.

That's why I don't believe in everything Nick is saying. He has been warning the housing crash in 2021 since early this year. There are a few months left, and we shall see. when the market cools down, it's not equivalent of "crash". I am a trained statistician, the first thing I look at is how sound the data one is using, to use CPI to indicate inflation, that's quite misleading (and that's what he uses). His clip on NYC and Black Rock is also not very accurate (I am not familiar with Tampa market, so I can't comment). While he does compile the data for his viewers, one can always pick and choose what data he uses to narrate the stories, and that's what he is doing. Again, I am not saying everything he said is wrong, but I've seen enough red flags that would lead me think twice. and yes, GOD BLESS AMERICA!

@Michael Haynes I am not saying Nick is completely wrong on this, I also don't have a crystal ball. There are people out there speculating whether it's inflation, stagflation or inflation and then deflation. "Nick" guy seems to agree with Powell that inflation is "transitory", which I think most likely not. As Ray Dalio discussed, it would be difficult for the FED to raise the rate by any meaningful amount due to the amount of money printed and the debt we are in. He thinks that we are heading towards monetary inflation. I don't necessarily know if that will ultimately lead to deflation in RE market, and how soon that will happen. Again, Nick said the best markets to invest is Buffalo and Albany NY based on "data", but I don't think to invest in states like NY that's crushing landlords right now is anything wise. RE investing has a lot of factors, and Nick himself is without a track of success in REI, that's why I would take his words with a grain of salt.

@Michael Haynes

I watched a few youtubers on real estate but I find him lack of knowledge in macro economics. His understanding of monetary policy and how it impacts RE is not very comprehensive. We realized that from the clip where he talked about blackrock and other public traded companies (he does not understand how these companies work for their investors and SEC rules/regulations to be traded companies). And his understanding of CPI and how it indicates inflation….. again, not very impressive……

Some of his thoughts and data are interesting but I would recommend to always verify his conclusion. I also think he doesn’t invest in RE, unlike MeetKevin or Jason Hartman to name a few.

@Rob Lee

That still means above listing price, correct? Do you have a sense how much over the asking? And are buyers still waiving contingencies?

Thanks for the insight!

@Sean O'Dowd

That’s very interesting stats, has the price gone up much since 60 days ago?

Do you have the % of transaction done at listing price vs below?

@Kumi Hodge your area is where we used to live (Albany/Berkeley)..... we left in 2017, and we thought the price at that point was already very high, only now we see a shed is asking over 1M in the neighborhood! it seems the eviction moratorium "will" end in Sep, supposedly that will ease on the inventory side, though I suspect they will just continue to extend it. CA never disappoints ;)

While interest rate is historically low, I wonder how many family is not house poor at this point. After paying 10% state tax and expensive gas/service and the mortgage, how much disposable income do people have left after.......

@Allen Wu

I’m really curious about Cape Coral as we previously looked into investing there. It doesn’t seem other than owning a short term rental, there are other viable options. We are also a little concerned about not having enough activities there other than retirement and vacation.

I have noticed the activity there has been crazy since winter, are you saying even in the middle of the summer, the price continues to climb higher? I’d think fewer people would be looking there due to the off season in tourism (but I could be totally wrong!).

@Theresa Harris

Are you in FL?

I’m very curious about how things are going in FL….. there seems to be a lot of companies moving in esp in Tampa area. And the price on the east side has already been quite high…..