If not LLing, then what? (by J [FL]) Jan 16, 2021 12:17 PM|
If not LLing, then what? (by LisaFL [FL]) Jan 16, 2021 12:53 PM
If not LLing, then what? (by Deanna [TX]) Jan 16, 2021 12:58 PM
If not LLing, then what? (by Ken [NY]) Jan 16, 2021 1:45 PM
If not LLing, then what? (by Richard [MI]) Jan 16, 2021 1:58 PM
If not LLing, then what? (by Pmh [TX]) Jan 16, 2021 2:02 PM
If not LLing, then what? (by Hoosier [IN]) Jan 16, 2021 3:23 PM
If not LLing, then what? (by plenty [MO]) Jan 16, 2021 7:18 PM
If not LLing, then what? (by Dee Ann [WI]) Jan 16, 2021 8:02 PM
If not LLing, then what? (by T [IN]) Jan 16, 2021 8:12 PM
If not LLing, then what? (by Ray-N-Pa [PA]) Jan 16, 2021 8:22 PM
If not LLing, then what? (by J [FL]) Jan 16, 2021 8:52 PM
If not LLing, then what? (by Dave [MO]) Jan 16, 2021 9:32 PM
If not LLing, then what? (by Ken [NY]) Jan 16, 2021 10:57 PM
If not LLing, then what? (by Cat [WI]) Jan 17, 2021 1:12 AM
If not LLing, then what? (by nhsailmaker [NH]) Jan 17, 2021 10:50 AM
If not LLing, then what? (by nhsailmaker [NH]) Jan 17, 2021 11:01 AM
If not LLing, then what? (by Pmh [TX]) Jan 18, 2021 5:31 PM
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If not LLing, then what? (by J [FL]) Posted on: Jan 16, 2021 12:17 PM
Assuming the worst case scenario and small to medium size LLs are crushed by all these new restrictions, and want to exit the business...
I have seen a lot of people on here say they will do flips instead. But won't the flip market become overcrowded at some point and difficult to make a profit in if everyone shifts to that? And a lot of people out there hate flippers, just like they hate landlords. I could see "affordable housing advocates" pressuring lawmakers to put heavier taxes on the sale of flips.
The other idea I have seen mentioned on here is storage units. I don't know much about this business model but it seems it could become oversaturated too if too many people try to enter it as Plan B.
I am not trying to be a downer, just taking a very coolheaded look at this.
If not LLing, then what? (by LisaFL [FL]) Posted on: Jan 16, 2021 12:53 PM
In my case Iím lucky mine are paid for so I can sell, take the profits and not do anything. Iíve sold a couple that I hold the mortgages on so theyíre still making me money. I might add to that portfolio under the right circumstances. --216.186.xxx.xx
If not LLing, then what? (by Deanna [TX]) Posted on: Jan 16, 2021 12:58 PM
I'm not sure. But I think the sad-but-funny thing was--- you know how you have those what-if conversations occasionally... like, "What if you won the $1B Powerball? What would you do with that kind of a windfall?" The answer was always, without a second thought, about putting the principal into multiple urban mfh complexes that I never could touch as a mom-and-pop, let alone attempt to manage myself from a distance. But then I'd do the actual stuff on my wishlist with the income generated by those properties.
But when I was driving by the gas stations and noticing the $750M jackpot advertised in the windows, and started fantasizing along those lines again--- it was kind of sad, because I couldn't really think of a safe, productive, dependable place worth putting that kind of a lump sum. It was actually kind of boring trying to think about it... --137.118.xx.xxx
If not LLing, then what? (by Ken [NY]) Posted on: Jan 16, 2021 1:45 PM
I am primarily a flipper so that is what i will keep doing.I advertise beyond what almost anyone else does in my area so i will keep getting my deals,i also get quite a few from referralls so i will be good.I am also considering lending hard money --72.231.xxx.xxx
If not LLing, then what? (by Richard [MI]) Posted on: Jan 16, 2021 1:58 PM
Everything has a risk.
Being a landlord is a long time established thing. The details have been worked out and discussed and analyzed for decades at the minimum. The risks are and have been known. This reduces the risk, especially for those who pay attention and spend some time learning.
Any other type of endeavor also has it's unique risks too. If we landlords venture into other things (and it looks like many of us will be doing this) we will need to learn and deal with these new risks. That's OK though. The same things that made us successful as landlords will be transferred to the new ventures.
I predict that, as the govt makes it much more difficult for us, we will find other things to do and make money at.
Here is one to think about:
Providing RV's to rent for vacations.
Check out RVezy (dot) ___ for some info. There are likely other sites as well.
Now, as investors, what we want is a return on investment as well as appreciation. Since vehicles don't generally appreciate (unless maybe they are classics)(still wish I had my old 57 Chevy) we can likely leave out the appreciation part. That leaves just the return on investment. To make up for no appreciation, this return needs to be substantial. Also, we need a margin of safety. Those 2 things don't go together too well.
So, what to do? Maybe this - buy older travel trailers, fix them up to reasonable specs and rent them through this company.Around many places I've been, I can buy older travel trailers pretty east for under $2K. Another $1-2 K in fix up and then rent. That site says a travel trailer might get up to $600 per week. That's a pretty good return. Even if we allowed 50 percent for expenses, that's still pretty good. As an added bonus, it's not like a motor home. No engine. No transmission. Few things to actually break. Also, no mortgages. And some other bonus'. If the govt thinks they can order you to allow deadbeats to live there for free at your expense, you can just hook up to it and tow it away. There's no lease. No occupancy. No eviction to do because it is not a residence (at least I think not).
If not LLing, then what? (by Pmh [TX]) Posted on: Jan 16, 2021 2:02 PM
my wife fantasizes about winning the lottery....not sure why. ha. after I leave my w2 job I intend to teach classes for the local university hospitality degree program. --107.77.xxx.xx
If not LLing, then what? (by Hoosier [IN]) Posted on: Jan 16, 2021 3:23 PM
I'm retired, so I won't need to find another job. All our properties are paid for, so I would do like Lisa and simply sell them and travel the world. --99.92.xxx.xxx
If not LLing, then what? (by plenty [MO]) Posted on: Jan 16, 2021 7:18 PM
Thinking of picking up Sea Shells by the Sea Shore. --172.58.xx.xx
If not LLing, then what? (by Dee Ann [WI]) Posted on: Jan 16, 2021 8:02 PM
My passive investment strategy includes dividend stocks and real estate spurred on after reading book. One about a secretary who bought small amounts of shares when she could and retired rich. The other about buying, rehabbing, and buying bigger, rehabbing...
As we age, dividends tend to be the most passive allowing the freedom we desire. Don't have enough to be rich for sure, but solid stocks that have always paid dividends, increasing them year after year. Sure, they could always lower them. We have our hands in multiple streams of income (another book) so less risk, if one income is down the other is up so that we will not starve and can set aside something for some nice trips each year. I've always wanted to live in a tiny house with good weather and a view, so basically living outdoors, sleeping inside at night. Hubby won't go along with that but oh what fun to own several different tiny houses and rent them out in some sort of fashion, vacation homes or? My heart always goes back to some sort of real estate. --198.54.xxx.xxx
If not LLing, then what? (by T [IN]) Posted on: Jan 16, 2021 8:12 PM
For me, start looking at more commercial stuff. Luckily 4 yrs ago we went from 100% residential (primarily multi units) to have a good mix (warehouse, office space, retail, farmland)... this year when two residential renters became squatters... didnt hurt near as bad.
My wife and I are actually starting to do stuff with circuit machine and laser bruning engraving. Something a little different... --76.77.xxx.xxx
If not LLing, then what? (by Ray-N-Pa [PA]) Posted on: Jan 16, 2021 8:22 PM
Go into notes
Oil and gas rights are doing well
or maybe find a new niche in the world of LLing
Motels are beat up now
Student housing is beat up
Restaurants - especially the mom and pops are hurting.
There are opportunities out there. Just listen for the doom and gloom. Day Care Centers should also be cheap right about now --24.101.xxx.xx
If not LLing, then what? (by J [FL]) Posted on: Jan 16, 2021 8:52 PM
Richard(MI) landlording already had a lot of risks but now the government is involved changing the rules in the middle of the game, so it becomes too unpredictable to assess the risks. --72.188.xxx.xxx
If not LLing, then what? (by Dave [MO]) Posted on: Jan 16, 2021 9:32 PM
Iím gonna keep doing what I do. If itís a dea,l buy it. Last 2 flips I bought were off market deals from a handyman that did some yard work for the owner of the house and he told them I know someone that might take this headache off your hands. Handymam passes home owners number to me and I was able to work out a deal.
If not LLing, then what? (by Ken [NY]) Posted on: Jan 16, 2021 10:57 PM
Dave,that is worth a referral fee,he will keep bringing you more of them --72.231.xxx.xxx
If not LLing, then what? (by Cat [WI]) Posted on: Jan 17, 2021 1:12 AM
I owned a small storage business from 2006 to 2015.
HATED IT. Every bit of it.
Was worse than spending a lot of time, going after rents, it is so depressing to spend time going through the loops to get a storage tenant out over a $30 or $50 or $85 storage unit.
There is a time sequence just like in LLing. In Wisconsin, you hate to give the correct time frame between unpaid storage units to getting ads in the area newspaper in a certain time frame to trying to sell the junk, which is required as it goes against what they owe. Not to mentioned all the junk that others dump there, besides tenants. Old smelly mattresses, furniture, trash, and the list goes on. I hate driving out there as I would suspect there would be another mattress or something for me to load and pay to get rid of.
Of course people would call during the coldest days of the year with 30 below wind chill because they had to be out of their apartments that day, etc. I hated driving there, especially at night to rent a unit. I don't think I would do it now, with everything going on.
If the junk didn't sell, you had to pay to get rid of it and haul it out yourself. Of course you also had to pay for mowing and snow removal or do it yourself. Just not a pleasant experience for me.
After I bought mine, they popped up all over the place, one right across the road from mine. You can't keep raising prices because the longer term ones that had no mortgage, could drop their prices way down and would get all the customers.
I lost money every month and finally sold it for a huge loss, just to get out of the business. It was 26 units of more work, than reward.
Just thought I would pass that along. Too many people got into the business and the competition got to be too much. I would never do it again and wished I had never gotten into it in the first place. Lost about 25K that I wished I had now. --50.105.xxx.xx
If not LLing, then what? (by nhsailmaker [NH]) Posted on: Jan 17, 2021 10:50 AM
Sep 09, 2020 ∑ The average cost of building a single unit of housing for the homeless in Los Angeles has risen to $531,000,
THEY ARE PUTTING 2 PEOPLE / BUNK BEDS IN A TYPICAL yard STORAGE UNIT MEANT FOR LAWNMOWERS
if you can't do that better then you have no imagination
research Katrina Cottages - they were built after the hurricane and sold by Lowes --73.61.xx.xx
If not LLing, then what? (by nhsailmaker [NH]) Posted on: Jan 17, 2021 11:01 AM
INVENT - even the least creative person can think of a "better mousetrap" for something
Here is one:
water comes into your house at 50+ PSI
Nobody takes advantage of that FREE FREE FREE PSI
after the water meter put an impeller that runs a generator to charge a battery
granted water has to flow to turn the impeller but it flows at a free 50+PSI
now go do the research and find a patent Atty
Prep school roomate created a fitting that goes over shaving cream. You heat it with hot tap water and it dispenses hot foam later for shaving. Gillette bought him out for gazillions -
there has to be a fitting that goes over bottles that keeps soda from goin bad or recharges it
there are 2 areas - things and services
Services in this pandemic is the new Wild West
If not LLing, then what? (by Pmh [TX]) Posted on: Jan 18, 2021 5:31 PM
Ray. I sure hope you donít have too much tied up in oil&gas rights...or in timber.... --107.77.xxx.xx
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