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All Forum Posts by: Account Closed

Account Closed has started 58 posts and replied 293 times.

Post: Does Real Estate have to be personal?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199

@Martin Lindsay



I just can’t imagine that we come out of this without some major changes to our mentality. I would be interested to see how the US changed after the Spanish Flu (probably a racist term by today’s standards).

Post: Does Real Estate have to be personal?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199

@Forrest Faulconer



Spoken like a true extrovert. What about us introverts? :)

Post: Is the Real Estate market really not going to take a hit?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199
Originally posted by @Wale Lawal:

@Account Closed Houston, Texas market is very strong and highly competitive than ever. Having a long term investment strategy is the way to go. It's hard to predict the future and I won't even try to. I'm still investing and will continue to invest regardless of market trends.

Real Estate is a forgiving investment if you can be patient and hold on to the property.

I saw the popular Ken McRoy YouTube video on "Real Estate crashing in 2021". In as much as the pointed us to the sources of his data and how he arrived at his conclusion, It's still a Personal and Economic Opinion.

Goodluck and Happy Investing Guys!

 

I will have to check out that video.

Post: Is the Real Estate market really not going to take a hit?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199
Originally posted by @Steve Smith:

Wow, what an interesting thread. I'm not going to make predictions but we've had some unprecedented things happen that have never happened before.

For the first time, ever we have had:

Government totally take over personal activities.

Government totally shutting down businesses en mass.

Government totally disregarding contract law. (mortgages, tenant, etc)

Government handing out trillions of dollars to help out whomever, even if they didn't need it.

Oil at significant negative prices.

New mandatory laws regarding health, and what you can do about it.

Now, we also have:

Very high real estate prices

A shortage of housing and a tenants scrambling for housing.

Very high labor cost increases, materials costs, and difficult availability. 

Most every business that has reopened has raised their prices.

Now, we will most likely have:

A significant amount of foreclosures.

A significant amount of evictions.

Significant recovery from a REALLY low point in the economy. Even oil is coming back. (drill baby, drill). However, a long way to go.

========

Now, history repeats itself. The banks and institutions are still repeating stupid things.

So, we will have a ridiculous amount debt and the only way we can lower it is to pay it back with inflated dollars.

People will always need a place to stay. As money gets tight, they might want to gang up in one unit. And you can always rent your property to a good tenant, if its a good one, without a ton of debt and expenses.

======

Yes, I'm changing my profile somewhat. Just not exactly sure to what extent. I could argue to strive to be more private and invisible (as impossible as it is), to be able to hide assets and income (not promoting breaking any laws).

I'm just going to follow this thread......



Great recap of our society today! And Yup this thread has been interesting. It will be fun to comeback in a year and revisit it

Post: Is the Real Estate market really not going to take a hit?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199
Originally posted by @Stone Saathoff:
Originally posted by @Account Closed:
Originally posted by @Stone Saathoff:

As far as my region goes in San Antonio and central TX, we certainly are not expecting a big crash any time soon. We are expecting an increase in foreclosures over the next 1-2 years as forbearances end, but this is expected to be more of a trickle than a flood. For real estate, you can't compare this to crashes in the past. We aren't dealing with the same underlying factors like inflated housing prices and extremely lax lending practices like the real estate crash of the 2000's (which still didn't hit central TX very hard).

Isn’t that the part to be cautious about? It’s not like anything in the past so we don’t know what the outcome will be. I am not doom and gloom just precautionary.

 You're correct we don't know for sure. I am basing my assumptions that it won't be severe on the fact that we've seen what happened with much harsher underlying causes and it didn't have a huge effect on our market. I live in San Antonio and see tons of development and investment, material costs going up, harder and harder to find contractors because everyone is so busy working, rehabbing, building, etc. I do not anticipate a crash.



I hope not. Only time will tell

Post: Different Audiences. Know your audience

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199

@Lauren Davis I approach homeowner’s more gently. Not always but a lot of the time they are emotionally involved in the property. It is not uncommon for me to see a homeowner get really upset over something silly when in reality it is just the emotions of the situation. I recognize this and act accordingly. Investors are more transactional. They do act with their emotions but they are generally not emotionally involved in the property itself. They didn’t grow up in the house or something to that effect.

Post: Does Real Estate have to be personal?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199

I have always considered Real Estate a personal business. The traditional Realtor who builds relationships and gets their clients that way. The investors who network at meetings and become friends. The schedule can often be more beers at the bar than meetings in the office. Is this how it needs to be?

The recent change in the world has taught everyone a few things and made most of us readjust our lives. I now go to Zoom meetings and rarely leave my house for business. Is this the future for Real Estate?

I see virtual wholesalers from all over the world doing deals in markets they will never step foot in. I see people buying rentals in markets that are on the other side of the country. The world has gotten smaller and opened a lot of doors but is it to the detriment of the personal side of the business?

I must confess I prefer it this way. My schedule is wide open now. No more time spent in my car driving from place to place just to feel at the end of the day that I did not get much done even though I was constantly on the run. I sit down in front of my computer with my two phones propped up and get down to business. I have a ton of work everyday and I am still super busy but at the end of the day I feel like I accomplished stuff. I spent my time working both in and on my business. I am growing every day and the future is bright. Has the lockdown helped me? Has it helped you?

Post: Does Real Estate have to be personal?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199

I have always considered Real Estate a personal business. The traditional Realtor who builds relationships and gets their clients that way. The investors who network at meetings and become friends. The schedule can often be more beers at the bar than meetings in the office. Is this how it needs to be?

The recent change in the world has taught everyone a few things and made most of us readjust our lives. I now go to Zoom meetings and rarely leave my house for business. Is this the future for Real Estate?

I see virtual wholesalers from all over the world doing deals in markets they will never step foot in. I see people buying rentals in markets that are on the other side of the country. The world has gotten smaller and opened a lot of doors but is it to the detriment of the personal side of the business?

I must confess I prefer it this way. My schedule is wide open now. No more time spent in my car driving from place to place just to feel at the end of the day that I did not get much done even though I was constantly on the run. I sit down in front of my computer with my two phones propped up and get down to business. I have a ton of work everyday and I am still super busy but at the end of the day I feel like I accomplished stuff. I spent my time working both in and on my business. I am growing every day and the future is bright. Has the lockdown helped me? Has it helped you?

Post: Is the Real Estate market really not going to take a hit?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199
Originally posted by @Anthony Marin:

@Account Closed

I'm of the opinion that we will have a decline in the real estate market sometime next year but that doesn't mean anything unless you are investing nationwide.  In my local market of Newark NJ, I'm convinced it will not go down as much as other markets as Newark is receiving such a tail wind from the investors leaving NY that even if there was a decline in the market it would be a great opportunity to buy.  Know your market and you'll be fine!!



The interest rates and loan qualifications will be nationwide. That is one thing to keep an eye on outside of your local market.

Post: Is the Real Estate market really not going to take a hit?

Account Closed#4 Coronavirus Conversation ContributorPosted
  • Investor
  • Midlothian, VA
  • Posts 305
  • Votes 199
Originally posted by @David Avery:

Exits should be part of anyone's investments.

In  40 days it  will be very interesting!

Different ways to market your investments.  

Hold on to same, or dump them to create more investments!


It will be interesting