All Forum Posts by: Albert Hasson

I am optimistic that the Fed can achieve a soft landing.  I have seen an uptick in buying activity just in the last few weeks here in the Phoenix market as rates went from north of 7% to low 6’s. 
inflation in my opinion has peaked.  Gas prices coming down and rents also starting to come down pretty significantly here.  Rented a house in May for $2495, tenant had to move and just signed another tenant up for $2250.  Another house I was convinced would get $2150 just leased for $1950.  I’m actually happy that rents are coming down because the increases we’ve seen past 2 years were unsustainable.

Consumer spending through the roof, TSA screenings over Thanksgiving above pre COVID levels.  There are some layoffs but heavily skewed toward corporate and management level employees.

Cautiously optimistic.

I see rates in upper 5’s soon which I believe will unleash a moderate wave of buying.

Taxes may not be a big issue in Florida but the ability to obtain AND afford homeowners insurance going forward will be interesting and challenging for many.  I’m hearing perhaps up to $10,000/yr will be possible.  Many insurance companies have left Florida and the state sponsored policy has such serious coverage gaps that many may not be able to afford to rebuild.  Would love to hear from someone in the insurance business in Florida.

I think it's a good test program. Truth is not much difference between 3% FHA loans (widely accepted) and zero down loans.
Hopefully BofA will properly underwrite these loans and enable more folks to realize the American dream.  

So you don’t believe in property taxes?

Did you believe in them when you bought the two properties?

Don’t really know what to say other than taxes are a fact of life and it’s likely your property appreciated far more than 10% in the past year.

If you have a 30 yr fixed mortgage then no, your mortgage will not go up.  

How much you can raise rent depends on your market.  Good luck to you!

Seems like ever since I started on Bigger Pockets many years ago this topic of “everybody is leaving California because of taxes” has come up time and time again. And yet, California continues to grow, its economy thrives, its the innovation capital of the world and property values just keep going up.
If I had a net worth over $30M you bet your *** I would be moving TO California for the weather, beaches, wine country, restaurants, etc., etc.  And don’t even begin to tell me that’s not enough to live comfortably there.

I really doubt a ton of Californians with that kind of net worth will uproot their lives because of an extra $140k/yr.  

Joe Rogan and others may move away and save themselves a few hundred k but they will no longer be able to sit on the beach with a glass of wine watching the sun set over the Pacific.  

Very unlikely such a proposal would actually come to pass but if it did real estate investing and investors will survive and continue to do very well if they are smart.  Real estate investing does not only thrive in Republican and/or Democratic administrations.

I also agree this proposal is so inconsequential vis a vis the upcoming election that it would not sway me one bit. Our country has bigger problems.

Just had one tenant, a flight attendant, ask for reduced rent for a couple months.  We knocked $300 off of the rent ( normally $1200 monthly) for 2 months.  Didn’t really think twice about it, it was the right thing to do.

Don’t be dumb, tell them no

Hi Sarah,

That post was several years old.

I never ended up buying properties in the far west valley in cities like Buckeye Goodyear and Avondale. I do own several rentals in the Glendale area specifically in the 85308 ZIP Code as well as in Peoria in the 85382 and 85383 ZIP Codes. These are all phenomenal locations and you would get excellent tenants. Unfortunately the prices have gone up so much in the last five or six years that I don’t think these areas make much sense anymore in terms of investment properties.  Hope this helps.