All Forum Posts by: Robert Conlin

Interesting view

https://theconservativetreehouse.com/blog/2022/11/24/housing-sales-to-institutional-investors-dropped-30-in-third-quarter/

@Greg R. Just go onto any real estate website and sort by something like ‘price reduced’ and scroll through. Draw your own conclusions. Too many people and bots on websites have vested interests in one narrative or another. Just do your own research and see. It’s pretty plain to see the way I list it above.

@Bruce Woodruff

https://i.stack.imgur.com/OXJdm.jpg

@Lindi Nguyen

It’s continues through central Jersey as well. You pretty much have to go south of Raritan bay bridge to try to get a decent deal or go more inland (up 80 west) or central west (rt 78 area).

Remember you also had a great flood of people trying to escape NY with all the draconian lockdowns and even people like me in North NJ looking to get out.

Northern Nj and even Rockland county are a shell of what they used to be.

It’s either older people hanging on to what they have until they can’t anymore or it’s younger people escaping another area into there. It’s become very mixed with a lot of transients.

Taxes are excruciatingly high. Now u have these same groups attacking through inflation and controlling supply chains. I mean think about it all of a sudden prices go up 40% and supply chains are being held back. This is like a siege of this was medieval times.

My advice overall is get out of northern NJ if you can’t get out of NJ all together. I’m telling you from spending most of my life there. Not an easy thing to say for me.

@Lindi Nguyen

It’s modeling out red because prices are exorbitantly high and only leaves room for institutional investors to make sense which means renting and once institutional investors are in they have incentive to keep it high or they lose on their investment. It’s a sick cycle but it’s where we are now.

I had a house and a 1b condo in the Hackensack surrounding towns and glad to be out.

Hackensack has the largest employer in the state (Hackensack meridian health) however institutional investors already rebuilt down town area and you can only rent which leads to what I said above. Funny thing is they rebuilt downtown right before covid so coincidentally perfect timing…

North Bergen may be a play but lots of headaches there.

My advice is get out of Bergen County and northern NJ for that matter; they ruined it. Such a shame.

Nearby NJ. Haven’t ever seen an exodus from NYC in all my lifetime. Most offers on homes are people from NYC. Not sure who is rebounding back (maybe some replacement group or something) but NJ still getting a flood of NY people. NYC was destroyed imo and it’s a shame to see. Used to be the beacon for around the world in my grandfathers time (#1 port in the world, center for manufacturing, etc.). Things were being created and done on scales imaginable (check out Robert Moses and bridges/highways). Such a shame to see it be squeezed into nothing like this. Haven’t gone there in years and wouldn’t go if I had to. It is nothing like it was. Sad shame. Bots will probably blast me on here for this but it’s the truth. Oh and tri state area not far behind it. These r interesting times indeed.

lookup 'subordination'.  it's easier to refi and then heloc.  if you heloc and have a loan in 2nd position then trying to refi they will need to be willing to subordinate to the new loan.  otherwise you will be stuck i believe.

How are everyone structuring multiple partners for RE deals?  Say 1 has good dti and credit so qualifies for the loan, another finances the down payment, another is a craftsman and provides sweat equity, etc.  Is a contract drawn up by a lawyer sufficient or do we need to get into a corp/llc (i believe this pushes into commercial loan then no?), etc.  Is there a BP podcast on this subject or something maybe?

How to correlate price appreciation vs real pricing.  adjusting for inflation in numbers (x 2017 is y 2021), interest rates then vs now and how that impacts pricing (purchasing x home for $300k based on interest rates in june of 2017 is similar to purchasing y home for $526k today), all of the impacts of pricing and some soft calculations of 2 points in time.  can be of same property over time or like kind properties, etc.