All Forum Posts by: Ramon Flores

In 2008 when the housing market crashed, the rents went up. I believe that will happen again in this recession. A lot of people are going to put off home buying and with the rent protection our government has handed down, I believe people will be more confident in renting. The property prices will more than likely come down since there will be a lot more inventory available.

I like listening to Grant, I don't believe in everything he says. To me he is very motivational and I like his attitude. After listening to lots of his shows though, I realize that he contradicts himself a lot. He's a very good salesman, and just for that it is fun watching him. As far as his YT goes, he talks about real estate in an entertaining way. I have learned a lot from him even though I currently prefer SFH.

@Aaron Sadler I have a house that has been rented in Euclid. It was rented within 2 days of it being on the market last October. Then again my property was large and looked better than a lot of the other Euclid properties that were listed for the same price.

 I wouldn't trust zillow too much on how long they have been on the market. My property was up for over a month and a half on social media, and I already had a tenant ready to move in within days. 

I applied about 3 weeks ago through the SBA EIDL page and I have not heard anything about an update on my loan.

@Account Closed Even if the wording may not be 100% correct, it still serves as a dangerous precedent to what can happen to the rest of the nation.

Even if a tenant does not  have all the correct documentation in front of a judge, I am sure they will side with the tenants. The mandate to prove hardship is pretty easy. 

Even if we don’t want to join CAA, or use their email template. We should still write our representatives and stop this before it gains traction.

Government intervention for us landlords will not be favorable to us.

@Andrea Finkelstein Hope this helps! I also suggest bringing lots of pictures and documents so you can let the other board members know that there is a roach problem and if something isn’t done soon... all the units will be crawling with roaches. 

It wouldn’t hurt to bring in a quote from Truly Nolan to service all the units at once. That may save the property manager sometime. Let them know it is affordable and it will benefit all the units. If your situation is desperate you can even offer to pay some of it to expedite the process. 

I believe everyone needs to click on the link and send a message ASAP. This is a dangerous thought and if the media starts reporting on this, other states will follow. 

If the state congressmen don’t agree with the rent rates then maybe they should supply their own housing and set their own rates. As a landlord I supply clean safe properties at the rent rate set by supply and demand. I don’t force anyone to spend more or sign a lease find they don’t be want it. 

@Peter Korty Hey Peter, the down payment is 10% in this report. It is usually 20% or 25%, also the interest rate seems low for an investment property. I'm guessing it should be around 5%. 

@Tanya Helenisa Congratulations! I made LOTS of mistakes buying my first home. Ill give you quick tips.

- Don't skimp on the home inspection! Buy the best and most experienced home inspector you can find, if the inspector is a hundred or two more, pay the money and get a great one. My inspector missed A LOT of things that were wrong with the property. He missed that some electrical outlets were malfunctioning, the plumbing in the shower was not working properly, the power box was old and outdated, the AC was not working, etc. 

- Don't be afraid to make sure everything works well and if it doesn't, don't be afraid to ask them to fix it or ask the seller for a credit. During these tough times I am sure they do not want to lose a buyer. Basically don't be afraid to renegotiate.

- This is a very exciting time, but please analyse everything in your property so there are no surprises a few months later. Hope this helps!

@Malcolm Cotton I would say make sure it is a C or a B class property, from your numbers it seems to me that it is. Also if you are using bank financing make sure your credit report looks good and your DTI ratio is low. Best of luck!