All Forum Posts by: Alexander Szikla

Ring in the New Year with a bang and a world of possibilities! As we step into 2024, let's raise our glasses to fresh opportunities, prosperous investments, and the keys to unlocking success. Happy New Year, investors! Rockson Advisory wishes you all a year filled with profitable ventures and rewarding partnerships.

So what do we have to look forward to? Well, there are a number of positive factors pushing a "Roar in 2024" narrative!

With the possibility of a mild recession, the Federal Reserve's announcement to cut rates three times in late 2024 and institutions like the Federal Housing Finance Agency (FHFA) and Freddie Mac hinting at a potential uptick in transactional activity after a slower 2023 which saw a 70% year over year decline in sales volume the "Survive Til '25" adage might be moot.

The FHFA has established the 2024 lending caps for Fannie Mae and Freddie Mac at $70 billion each, totaling $140 billion for the year. Notably, loans supporting workforce housing are exempt from these caps this year, signaling an anticipated surge in lending within this segment compared to the limitations in 2023.

Moreover, the Mortgage Bankers Association projects a 26% overall lending increase and a 19% surge specifically in multifamily transactions, pointing toward an active and thriving landscape ahead.

What's the catch? Is there a caveat? Yes - oversupply! Nationally, we are still facing a housing shortage; however, certain key markets could see some potential challenges in rent growth and occupancy. With a substantial 1.2 million apartment units under construction at the start of the year, an estimated record-breaking 510,000 units are set for completion by year-end.

Couldn't have said it better myself @Greg M.

@Greg M.undefined

The fact that you are a plumber (and likely somewhat handy in other trades) gives you a HUGE leg up. Please become a landlord ASAP - your 39 and 49 year old selves will greatly appreciate it! 

Seeing a lot of criticism in this thread towards @Account Closed

In my opinion - big F ing congrats on making so much money at a young age. No easy task and you should be proud. 

Clearly, you are "new" to RE and exploring a variety of options and educating yourself. Nothing wrong with that. 

I would advise you to consider what is most important - yield, appreciation and/or passivity. Based on your primary focus, you can then begin your journey. 

1. Responsiveness - Do they respond within an hour or the next day? 

2. Market Knowledge - Can they provide insights on the area, tenant base, drivers of growth, etc? 

3. Proactive Attitude - Do they help you vet an investment and help source ideas, quotes, etc? Or do they just show up with keys?

Best to open an HD and/or Lowe's professional account and have them buy things for your project via phone sale. That way you avoid premiums, retain control / visibility on what is being purchased and get some form of "points". 

Better to have a slightly under market price and a quality tenant than an above market price and a poor tenant. Sometimes getting massive inflow helps you take your pick which can be quite valuable in the long run

Sent you a DM

Don't get involved in their personal lives. Stick to the lease. You are providing housing, not counseling. 

Curious to know as well