All Forum Posts by: Jon Q.

@Jon Q.

Did you actually change your last name to Quest?

Brian,

So do you have a lot of Capital just sitting in the bank not generating returns? If not, curious about what you’re doing with it…

I always like mine working for me.  Now, I’ve got a decent amount in oil stocks.

Who is an advocate for paying off their rentals and just enjoying the cash flow? I’m fully aware of the down sides of this, but thinking it could be a better fit for what I want out of life.  I’ve also recently spoken with a very successful commercial investor who doesn’t carry any debt because of his experiences during the great financial crisis. Looking for feedback from people who have done it or are working toward it. I know this slows growth, eliminated leverage and all that, this is an alternative idea that is equally valuable to the investor looking for a more passive income. 

@Jon Q. Smallish-time investor here in the Midwest (technically northeast, but whatever) and there is still opportunity here. 2021 I was involved in another business so didn’t do a lot, but bought 7 properties in 2022 and I’ll be closing on a couple more in early May.  A couple of those were flips.

I don’t see any sign of a major “correction” for SFHs,  maybe in some super hot markets, but overall I’d be surprised to see a correction beyond 8%. Prices are still going up here with record low inventory.

My market is definitely softening. Still competitive but the really stupid high-priced properties are becoming less and less common.

That being said... when a property comes on the market and it's a good deal they're getting a lot of offers. 

I'm currently under contract on my 1st solo no partners involved commercial property (the seller owes the IRA money so the deal has been in limbo - the seller closes on a different property in May and he'll use that money to pay off his debts so we can close. It's a really good deal.

I'm still making offers. I looked at a place today that needs some work and I'm making a solid offer tomorrow. The place is priced fairly but I want a deal. One of the units is in need of 10-15K in work and that will scare a lot of buyers off. I'm not excited about the place but the price is right. 

The past two years I've more than doubled my doors; and I still feel like I'm moving slowly! 

@Jon Q. my version of hell is sitting doing nothing for months on end, and there is only so much gold one can do. 

And to be honest, I am "that guy" who even when I am on vacation, on the opposite side of planet earth, in some 3rd world nowhere, the wife says "why are you starring at the building" and I say "wouldn't this run so much better, marketed to westerners, and on a STR type system, with self-check in an..." and right about then she gives that gasp and says "your a sick twisted old man with an addiction" LOL.

So yeah, of course I am and have been doing deals. OF COURSE..... Only thing that changes is what kind of deals, with what strategy, where, how etc.. 

MFH got way too ridiculous for me to consider anything other then development, and even then, so I have been heavily focused in SFR segment. Now moving more into the townhome community development side of things. As price compression continues, and it WILL continue, townhomes are the clear winner.

Add that with strong suburban developing markets, it's a winner. 

Also lot's of portfolio reviews, restructures. It's been a great 2 years for that without a doubt. Adjusting into newer units, scaling down that cap-x ratio. Focus on tax.... ugh, freaking tax's..... And pegging the markets of opportunity. 

Be fearful when others are greedy, greedy when others are fearful, right. 

Dollars getting into an ugly spot, biggest question coming up is stagflation or rampant inflation/recession cycle, either of which say asset asset assets so no way I am sitting sidelines watching dollars burn while pinging a ball around a lawn letting my brain go soft. Next thing ya know I'd be running around yapping about some damn gopher....

@Jon Q., I believe prices will continue to rise 1% per month. No downturn in Texas major metros. I'm in "buy" mode for additional rental houses.

What are your thoughts on DFW? Short term + long term?

 I’ve got rentals in north Dallas… and as prices increased, I started looking and buying outside of DFW… ex. the stretch from Austin to Ft Worth.

A dislike… compared to other cities, the taxes are a killer, and have skyrocketed over past few years! 

Lately, I’ve been preferring NC and TN which have much lower tax rates and similar growth.

 HMM I think about ,25 or so in the last two years,( about 500 over the last 9 years ) . Just continuing looking for great deals ,