All Forum Posts by: Kar Sun
Kar Sun has started 20 posts and replied 364 times.
what problem are you trying to solve? I would be careful with the lenders now. The situation is unlike what we have seen previously. Remember your loan is serviced by the banked and backed by Freddy, Fanny, FHA. Do not do anything if you have an FHA (goverment) backed mortgage.
I have 3 toilets in my property one above the other on 3 floors. Suddenly 2 started running water and 3 rd one started making odd sounds when flushed. The toilets are Eljer and are about 15 years old. Only one tenant on the property. The entire mechanism inside water tanks has been replaced with the standard valve and flapper. The issue appears to be fixed after the install and test. Then tenant reports in a few days that the issue is back. I really do want to replace the entire unit but what might be the case? Thanks
Post: Cash flowing long term rentals
- Posts 374
- Votes 273
If you get a nice property in a nice location then you may think the long term. If you can subsidize the rent it might be an option.
No need for an attorney as it will cost a lot of money. You do not have to remove the trees. You do not have to fix the fence. You can remove the fence if you would like, especially if your CCR or Master Deed do not call for a fence to be a part of your property. Any tree limbs that are going over your property line can be removed by the property owner that is affected by them. When they do remove them they need to do it professionally and carefully as to not to damage the trees and cause them to fall due to improper trimming. I would get rid of any tenant that keeps telling me what I need to do. Overall, I suggest not to be a landlord in Cali. A terrible place where landlords have no rights.
Any property management I have come across is never good. Big or small. I prefer to keep my portfolio small and manage everything myself. Based on my key criteria I also prefer to have local properties.
Post: The FED (FOMC) is about to raise rates... 20 minutes.
- Posts 374
- Votes 273
Quote from @Matthew Crivelli:
Rates are going back to normal levels. The rates of the last 10 years have been historically low. Growth will slow, but will prices come down? No one knows for sure.
Have you ever seen prices come down on anything substantial for the long term?
apartments.com, zumper.com, realtor.com, zillow.com....I prefer to set up my tenants via avail.co (Realtor.com) and verify financials theclosingdocs.com. I will never use craiglist or facebook.
Post: Proposals to ban investment in Dallas
- Posts 374
- Votes 273
I am not in Dallas but I find this very concerning. Of course Blackrock and Vanguard or any hedge funds won't be banned. This will affect non- institutional small investors. Small investors do not create housing shortages. Small investors are also not the root cause of poverty, lack of education, lack of upward mobility. Not every one has the same potential, so the same outcomes (equity) is a delusional idea. This is a deliberate and malicious attack on middle class and a step to make everyone poor.
Post: 1) Alarming amount of foreclosures? 2)Housing market SLOWING down
- Posts 374
- Votes 273
Quote from @Greg R.:
Quote from @Adam Martin:
Disclosure: I have been wrong before and will most likely be wrong again but this is where my thought is. I predict a lot of people looking back to today and saying I wish I had bought then. I wish I bought more previously but I didn't think interest rates would jump this fast, hindsight is 20/20.
We have to deal with WEF agenda of "you will own nothing and you will be happy" by 2030. This is a new variable that had prior to 2020 not been a part of the equation. We must understand that the conditions created are deliberate and malicious. Knowing the root causes helps.
Post: 1) Alarming amount of foreclosures? 2)Housing market SLOWING down
- Posts 374
- Votes 273
Quote from @Greg R.:
Quote from @Jonathan Stone:
@Greg
I won't say the housing market is going to continue to climb at the crazy rates it has been however as is typical of large data sets and headlines, less than 100k foreclosures per month would be abnormal in a slowing market. Considering the lack of ability to process foreclosures in the last couple of years seeing that activity tick up and normalize should indicate that the housing market is stable or stabilizing. Housing prices dropping and people not paying tens or hundreds of thousands over asking seems correlated to the spike in interest rates. Maybe we finally slow down and see housing do what it has historically done and grow at 3 to 5 percent. Maybe we see monetary policy shift again and slow things way down into a real recession. Maybe we see another 2,3 or even 4 trillion dollar budget addition to "keep the economy going". Any of it is possible, my dollars still say that over the next 10-20 years (my personal investment horizon) real assets, especially cash flowing ones in the US will beat most other opportunities to earn a return.
Market correction 15-30% likely. Back to 2018 levels unlikely. The real estate always trends upwards regardless of corrections.