All Forum Posts by: Albert Hasson

Great news!   
Every little bit helps.

If you’re truly convinced the country is going “socialist” then you should probably buy gold and turn off the news. Maybe you’ll sleep better at night.  You’re currently getting a 10% return PLUS appreciation.  Good luck finding that somewhere else without a lot of risk.

It looks amazing but I have a question.

Appreciation aside does this property cash flow?  Even with 20% down the debt service and taxes have to be close to $10k/month?

I remember when it was the 2% rule!!

Nothing in these proposals cited in the Bloomberg article would make a bit of difference to the vast majority of mom and pop RE investors. Standardized rental applications? Big deal!  Sealing previous evictions?  Wouldn’t make a difference to me, if their credit and income meets my high standards is unlikely they would have had a previous eviction. I’m all for making the rental process as fair as possible.  None of these proposals would affect me or most others one bit.

And for the statement that only D’s are harmful to real estate investors well that’s just plain ignorant.  In fact it was the Securities and Exchange Commissioners appointed by the second George Bush who adopted the rule allowing the 5 major investment banks in this country to leverage their capital in an excessive and unsafe manner leading to the great housing collapse/recession of 2007-2010.  As we all know this wiped out millions of RE investors.

Many of you clearly have an agenda, politics should not have a place on Bigger Pockets.

Terrible advice to avoid HOA's!
I will only invest in houses that are in HOA’s. HOA’s force tenants and owners to clean up after themselves, put the trash cans back behind the gate, don’t allow street parking or parking on dirt/gravel.  They offer amenities like parks, playgrounds, grassy open spaces and even pools/rec centers. In my experience HOA’s are loathe to raise dues.  HOA boards are made up of homeowners who typically like to run a tight ship and don’t want to pay more than they absolutely have to.  It would drive me nuts drive by a rental house with trash outside, cars parked on the dirt, weeds in the yard and peeling paint.  Believe me you will sleep much better with an investment in an HOA.

You have gotten a lot of good advice and a lot of harsh criticisms.  I believe there is absolutely nothing wrong with being a compassionate landlord!  I wouldn’t move to evict this lady.  I would work with her to get her caught up on rent as she’s been a reliable (albeit late) payer of rent.  I own 26 houses and inevitably have one or two that pays rent late for one reason or another.  At this point I welcome it because I get $75 late fee and $10/day penalty.  One of my tenants this month was 14 days late (highly unusual for her) and just sent me a check for $215!   People will criticize this post and say “you’re running a business not a charity”.  I don’t run a charity but I realize that s**t happens sometimes and try to give people the benefit of the doubt. There are many ways to run a successful business, you have to chose what works for you.  Good luck.

I’ve lived through several recessions and if we’re in a recession it’s news to me.  Unemployment at 3.5%, inflation trending down, fed likely pausing hikes after next meeting, mortgage rates falling, foreclosures essentially non existent, seeing a lot more houses go under contract in just the past few weeks, etc.  Plus it just doesn’t feel like a recession at least here in Phoenix.  Restaurants and malls just packed, traffic bad, building apartments and spec industrial like crazy.  Feels nothing like 2008.