All Forum Posts by: Eric Bilderback

@Daniel O'Hare Damn dude that really sucks. I really don't believe you should feel dumb lots of smart people have lost money. I certainly wish you the best and hope financially this is not to devastating.

5 Votes

@Michael P. said what I was going to.

I am in a very similar situation. I changed careers into something that has given me more freedom (realtor) but as I don't have enough to quit I still have a few toes in the rat race. Not ideal but overall much better.. I still have a bunch of kids at home not sure where you are it in that regard but one thing you may consider is just taking a year off. Take a semi-retirement and get a gig that is a more chill when you come back. Keep updating us what your doing I'll be interested to watch you and to hopefully suggestions I can ponder for myself.

0 Votes

Quote from @Dave Meyer:

I think @Scott Trench even though he is 10-15 years younger than me has the best advice out there. I have listened to the podcast forever and have grown real estate wise right along side of it. I love the millionaire next door vision or plan for the podcast. And wish you all the best in bringing many good people hope and a pathway to more freedom to their and their family's life. I don't appreciate these giant real estate personalities or influencers/motivators because it's stupid and unethical for people with kids and families of limited circumstances to be told they have a good probability of owning a "thousand doors." For people that want more opportunity in their lives what comforts can they trade, what calculated risks can they take today for that opportunity/wealth in the future? Real estate investing is the safest, and most effective way to build wealth for the vast majority of Americans. I will continue enjoying the podcast and will appreciate the creativity getting toned down a notch, as it makes the left side of my brain hurt! Tell the suits good call! LOL

11 Votes

House Hack all day long dude!

0 Votes

Quote from @Theresa Harris:

Quote from @Jay Hinrichs:

Quote from @Bill B.:

LISTEN TO THE EXPERTS!! We were told over and over. “But 100% of the ‘experts’ say rent control doesn’t work”. SHUT UP! They say.

Why wouldn’t you start with food control?

or ban full sugar soft drinks from EBT cards they cause our medical system billions..

What is an EBT card? I tried google and my best guess was pre-loaded cards for people on welfare.

Food stamps, which poor people don't get ahead from the food companies do, and gives the US a population that is to fat to produce an Army. If we are dreaming let us go ahead and stop outsourcing manufacturing, and stop bringing in unskilled labor by the millions to destroy middle class and working class communities. #nevergoing to happen. Might as well by real estate and get rich off the scam! LOL

1 Vote

Quote from @Russell Brazil:

Quote from @Jay Hinrichs:

did anyone catch Prez Bidens comments on how he wants to pass a national rent control at 5% max rent raise ??

my worry is there will be other stips in that if it was to pass..

Or do you all think its just pandering to that base.. ?

Part Pandering, part poor explanation.

HUD capped rent raises on units financed through the Low Income Housing Tax Credit Program to 10%. I believe he meant to reference this particular program, to have the limit changed to 5%.

HUD doesn't have the ability to implement rent control anywhere other than government owned or specific government financed housing.

I don't believe that is accurate. If he capped the HUD properties the tenants don't care because they are hardly paying any rent as it is. And the owners will not like it because their gravy train is being threatened. Am I missing something?

Who is he pandering too? Unless he is proposing to pass nationwide rent control (which I highly doubt he could do) he is not pandering to any of his groups.

1 Vote

Quote from @Elizabeth Block:

Another bit of technology forced upon us that is detrimental to our wellbeing. Why do we need to adapt? We should fight it, to be honest.

They want to convince everyone it is inevitable to shove their damn technology down your throat. I believe this is a big part of the transvestite movement. If you can just turn boys to girls and vice versa there is nothing that cannot be done other then the limits of our technological capabilities.

Great book is on this is "The Price of Tomorrow" I think the Author Jeffery Booth makes a solid case (probably much to optimistic) for the technologists. But I am not convinced and think that the world the technocrats want to build is not compatible with human nature and our purpose for being here in the first place.

1 Vote

Milwaukee, Wisconsin

Another thing I think that is worth noting is for people who don't have much of a net worth or much opportunity taking a calculated risk in real estate can be a great way to bring some freedom to your life down the road. Real estate will own you to start then it will bring you opportunities completely out of your reach now. If you have a solid career trajectory that you love or can at least tolerate you will obviously dial down the risk.

7 Votes

Buy the best house hack you can in Miami. Nothing will start you off or build wealth for you like using a government backed loan to buy a great property in a great area. In a year or two do it again and again and again. If you can save enough money to come up with a down payment do that as well.

You could buy 3-5 nice duplexes-fourplexes in great locations (like Miami) over the next little 5 or so years and you will be miles ahead of 90% of the real estate investors ten years from today. Buy great real estate, manage it like a pro, and it will make you a millionaire.

Good Luck

1 Vote

Miami, Florida

Quote from @Carlos Ptriawan:

Quote from @Paul Azad:

Quote from @Melanie P.:

@Carlos Ptriawan I don't think the lenders on these projects are very excited about the state of the market. Nothing is going to happen in 2024 that will bail out these bad deals. If there's some major interest rate easing in 2025 you might see a rebound in multi family investments in 2026. Keep in mind the defaults and distressed sales that flow from them will further suppress cap rates until all of that inventory works its way out of the market and investors don't see more of it on the horizon. Highly possible prices won't hit their floor until 2027-28. This would be a pretty typical down cycle that we've seen many times in the past.

A lot of podcasters content is not going to age well, LOL!

Not sure this will be a typical down cycle, might be much worse, given extreme leverage at play both publicly and privately. Most new MF construction ever entering market now and next 24 months, and Macro, no reason for FED to cut rates as economy growing and lowest unemployment ever and most importantly FED screwed up with a slow/weak response to inflation in 2021/2022. This great/brief article by Research Affiliates

Res Affil Nov 2022 -history-lessons-how-transitory-is-inflation (1).pdf

shows that historically will take about 9-10 yrs on average for the US inflation to drop to below 3%, and the 20%/80% range of certainties puts that drop at between 6 yrs and 19 yrs. So if correct then we are looking at higher 10 Yr yields/cap rates for a very long time, like most of last century. Gone are the 42 yrs of falling interest rates where any Chimp with traumatic brain injury could make great returns in Stocks/Bond/Real Estate or any risk on Asset. Time for much more or "any" Due Diligence as Gravity ie the 10yr Yield will be much less forgiving.

Ten years from now people going to impress with the real estate or mogul in 2034 that purchased the distressed assets/notes in 2024 as it becomes too obvious.

One thing that we know whether inflation is sticky at 2% or not is that w know interest rate in 2026 is lower than 2024, that itself could spur investment growth in 2025.

All these down cycle in CRE could rebound relatively quick because the root cause of issue is M2 prints in 2021 but that issue is resolvable by the market completely in 2026.

Meaning q3/4 2024 and q1 in 2025 could be one of the best time to invest for the new cycle.

Dude that insider real estate jargon is redonklous. I thought I was in the weeds of this stuff it took me 5 minutes to figure out what the hell you were saying! LOL.

2 Votes

All Forum Posts by: Eric Bilderback

Eric Bilderback has started 56 posts and replied 958 times.

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