All Forum Posts by: Joe Homs

Daniel,

Your question brings up more questions than I can answer in this post, but I will try to be brief.

What are your goals? I looked into my crystal ball and this is what I see. (You can buy your own crystal ball at Walmart.)

What I have seen in the past 35 years from the previous bubbles are this.

1. Warm body loans. When everybody and anybody can get a loan, its time to sell.

2. When interest rates begin to rise sharply, 2106? it may be time to sell? (Check crystal ball on this one since I once paid 14% percent for interest on my primary and was happy to get it.)

3. When people start to lose their jobs, its time to sell!

If you can predict any or all of these then you are a guru. I do both "buy and hold" and "flip properties." My long term holds are over 10 years plus and I do flips for some quick cash.

I hope this helps.

Gil Rivera

CA Certified Appraiser #AR017586

CA Realtor-Owner #01213587

www.SellYourCasa.com

They are independent and very experienced.

Christy De La Torre, Senior Escrow Officer
HOMESTEAD ESCROW COMPANY

They are independent and very experienced.

Christy De La Torre, Senior Escrow Officer
HOMESTEAD ESCROW COMPANY

You won't find anyone better and more knowedgeable.

Mark J Kohler, CPA, Attorney, and Mathew N. Sorensen, Attorney //

Mark J Kohler, CPA, JD PC

Jeffery,

I agree with your comments, now lets go find something! I have some properties in Orange County. Some need work and some don't. Its a very competitive market right now. I have a client that's been looking for over two years, but his problem is that he can't pull the trigger.

You can start by taking a look at your current lease and see if it "automatically" converts to a month to month lease. If so, you don't need to do anything. If you are raising the rent and only going with a month to month contract, then I would write a whole new lease. The power shifts from you to them in a month to month contract and that is why those are more expensive each month. Just a thought.