Invest now or wait?? (by Bruce [GA]) May 9, 2021 4:57 PM
Invest now or wait?? (by gevans [SC]) May 9, 2021 5:49 PM
Invest now or wait?? (by WMH [NC]) May 9, 2021 5:57 PM
Invest now or wait?? (by Allym [NJ]) May 9, 2021 5:58 PM
Invest now or wait?? (by S i d [MO]) May 9, 2021 6:10 PM
Invest now or wait?? (by Pat [VA]) May 9, 2021 6:57 PM
Invest now or wait?? (by MC [PA]) May 9, 2021 6:57 PM
Invest now or wait?? (by Robert,OntarioCanada [ON]) May 9, 2021 10:49 PM
Invest now or wait?? (by Ray-N-Pa [PA]) May 9, 2021 10:55 PM
Invest now or wait?? (by Robert J [CA]) May 10, 2021 2:35 AM
Invest now or wait?? (by Pat [VA]) May 10, 2021 7:50 AM
Invest now or wait?? (by Oregon Woodsmoke [ID]) May 10, 2021 10:51 AM
Invest now or wait?? (by Oregon Woodsmoke [ID]) May 10, 2021 10:53 AM
Invest now or wait?? (by Landlord ofthe Flies [TX]) May 10, 2021 1:28 PM
Invest now or wait?? (by Nicole [PA]) May 10, 2021 2:39 PM
Invest now or wait?? (by Nicole [PA]) May 10, 2021 2:41 PM
Invest now or wait?? (by ned [AL]) May 10, 2021 8:51 PM
Invest now or wait?? (by Small potatoes [NY]) May 10, 2021 11:47 PM
Invest now or wait?? (by BRAD 20,000 [IN]) May 11, 2021 12:58 AM
Invest now or wait?? (by Nicole [PA]) May 11, 2021 8:33 AM
Invest now or wait?? (by myob [GA]) May 17, 2021 2:17 PM
Invest now or wait?? (by Pmh [TX]) May 17, 2021 5:14 PM
Invest now or wait?? (by Bruce [GA]) Posted on: May 9, 2021 4:57 PM Message:
Hello, I live in Middle Georgia. I want to see what everyone’s thoughts are on this market and what advice this group has for us. We own around 25 SFH and have been saving for a while expecting another buyers market or some opportunity to present itself.. Do we scramble and try to spend our savings or wait for the market to change?? Most realtors in our area are telling us to get ready for the deals because this won’t last. I’m worried about inflation but I haven’t seen anything worth buying for a while. Any advice would be appreciated. --68.1.xxx.xxx |
Invest now or wait?? (by gevans [SC]) Posted on: May 9, 2021 5:49 PM Message:
It's a two edged sword... we sold some and are sitting on the cash.
Cash is losing value daily, but we believe the crash is coming. Since we expect to pay cash and remain debt free, we are waiting.
If you are planning to float loans, we expect interest rates to zoom upward in the near future.
Our rate of prophesy does not meet Bible standards, we are frequently wrong. --69.80.xx.xxx |
Invest now or wait?? (by WMH [NC]) Posted on: May 9, 2021 5:57 PM Message:
I've read a few articles about this lately.
Here's one:
//finance.yahoo.com/news/why-morgan-stanley-is-convinced-the-housing-market-isnt-in-a-bubble-193156861.html
They all say the same thing. Big demand, little supply. The building has not even caught up with the floor of the previous burst bubble. --50.82.xxx.xxx |
Invest now or wait?? (by Allym [NJ]) Posted on: May 9, 2021 5:58 PM Message:
Giveaway money has gone to buyers who will not be able to sustain, just like it happened in 2006. There was a fuel issue then also and people with poor credit who were given 200K mortgages by Pelosi, Dodd and Frank, had to choose between keeping warm and paying the mortgage. So houses went back to the banks in such numbers that they crashed. So we are going into a warmer five years due to Solar Maximum so won't have the bitter cold pressure like 2006. But it's taking a little long isn't it. Any kind of fuel shortage should cause people to not be able to pay mortgages being that we have already had hits from the pandemic and someone shut down the Canada pipeline during his first weeks in the oval office. --108.24.xx.xx |
Invest now or wait?? (by S i d [MO]) Posted on: May 9, 2021 6:10 PM Message:
No one knows what the market will do. Agents who says "deals are coming..." are they selling all their stuff and sitting on piles of cash? If not, why not?
Anyone who tells you they know what the market will do is either a liar or a billionaire. Only take advice from the latter. Meanwhile, buy deals that make sense and throw off enough cash flow that you'd be glad to own them. --107.216.xxx.xxx |
Invest now or wait?? (by Pat [VA]) Posted on: May 9, 2021 6:57 PM Message:
We're sitting on cash from doublewide sale. We went to an auction yesterday, huge 4 bedroom 2 bath on 5 acres, I looked at it back in 2014! Was a title problem then, & it has since been straightened out. It had been torn apart by dogs back then, & I could still smell them yesterday, also heavily smoked in. They had ripped out most of the carpet, painted the underlayment, & put some vinyl planks in living area.
It went for around 91,000.00 with a 10% buyers premium to be added! The Amish & Mennonites are buying up a lot of land around here. Big families.
We're due to have to replace several fridges & heat pumps soon, and looking for a few turnovers/reno's so I guess we'll hold. --71.219.x.xx |
Invest now or wait?? (by MC [PA]) Posted on: May 9, 2021 6:57 PM Message:
Selling and getting hit hard by depreciation..SO knew we would owe but kept saying-you sure??"Paying back" 19 years of depreciation hits hard.
Time to get out-as stated for many reasons. --73.230.xxx.xx |
Invest now or wait?? (by Robert,OntarioCanada [ON]) Posted on: May 9, 2021 10:49 PM Message:
Here it is buyers market where in most larger urban areas a house is going to cost a million dollars plus where the average price of single family house is around $750,000 dollars. While the price increases have temporary flatten out then as long there is low interest rates. No one knows about the houses owned by speculators where one day that could crash. So if have the funds to buy along with worthwhile property then consider buying. Borrowing is like a double edge sword where on the way down it is a lot more severe. The focus is building equity where if economic times get tough then can weather the storm where amount of properties does not matter. A hundred per cent equity then can weather difficult economic times. --99.236.xxx.xxx |
Invest now or wait?? (by Ray-N-Pa [PA]) Posted on: May 9, 2021 10:55 PM Message:
If you can actually find a true deal, invest. But it is becoming harder and harder to find a true deal.
I have been doing more selling than buying this past year, but I have enough units to ride out the storm. Like MC, depreciation has beaten the crap out of me - even by doing 1031s.....doesn't you can complete successful 1031s. --24.154.xx.x |
Invest now or wait?? (by Robert J [CA]) Posted on: May 10, 2021 2:35 AM Message:
So many people can't stand on their own two feet. If not for loans, buying on credit and no self control, people are in debt. Not just a little but a lot.
Our country has a national debt in the trillions. Something like 35 to 50! If every American came up with half a million dollars, then that debt can be paid off, not going to happen.
If you want to buy more homes, I'm sure your can. What happens when your tenants can't pay rent or get away with making minimal payments. Wait, that's going on now with the Pandemic. Here in Los Angeles tenants are laughing in my face. I have to evict, not for the non-payment of rent, but for cause...It will cost me $10,000 in lost rent and legal fee's, but I'll get the last laugh on them.
I've had friends pick up deal with things go south. A 6 million dollar apartment property in Beverly Hills on Reeves Drive. Owner had to leave the country and go back to Iran or die. Sold the 6M property for $475K in cash... --47.155.xx.xxx |
Invest now or wait?? (by Pat [VA]) Posted on: May 10, 2021 7:50 AM Message:
Our CPA advised my husband against doing a 1031, wonder why? She doesn't think very highly of it, maybe they are a pain for her? Perhaps she just thinks pay the tax & be done with it? IDK It is just a delay right?
Wonder if the taxpayers age has anything to do with it? --71.219.x.xx |
Invest now or wait?? (by Oregon Woodsmoke [ID]) Posted on: May 10, 2021 10:51 AM Message:
My worry is not what market prices are going to do, but more along the lines of what is the government going to do.
I would have said that never in a million years would the United States government nationalize our real estate holdings, but that was before Covid and the eviction moratorium.
I've just watched the government trample all over our constitutional rights with impunity. It makes me nervous.
However, there was just a beat up duplex come on the market for $429K. It was in an excellent location and I was considering it, because it would get me two grand a month and the money to pay for that is sitting in the bank making about $20 a month.
That thing was sold in less than 24 hours. I didn't even have time to drive by and look at the outside. --76.178.xxx.xxx |
Invest now or wait?? (by Oregon Woodsmoke [ID]) Posted on: May 10, 2021 10:53 AM Message:
Speaking very locally, I am in a recreation and retirement area and I am expecting prices to go back down when all the office workers are called back into the office and they move back to Seattle, or wherever it was that they were fleeing from when they were given permission to work from home.
I don't know how that will affect other areas. --76.178.xxx.xxx |
Invest now or wait?? (by Landlord ofthe Flies [TX]) Posted on: May 10, 2021 1:28 PM Message:
First of all, to a Realtor, everyday is the best time to sell/buy. They're never going to discourage a sale. What would be interesting to know is what are Realtors doing with their portfolio.
My recommendation is to sell problem or high maint properties now, and over the next 5 years look for good deals but don't invest in the bad deals. Prices are going to be high due to lack of inventory and the high cost of building new because of lumber prices. I'd put all the sales proceeds into paying off all your notes. This will give you immediate savings/extra income, and when you find a deal, you can then finance it with one of the paid off houses.
Finding deals will be possible, but they'll be fewer and be chased by more investors. This will drive bids up and turn good deals into bad. If this happens, wait for the next deal. In the meantime, you're saving money having paid off some or all of your houses. If things turn bad, you'll be better off to weather the storm. --108.69.xxx.xxx |
Invest now or wait?? (by Nicole [PA]) Posted on: May 10, 2021 2:39 PM Message:
...I'd put all the sales proceeds into paying off all your notes. This will give you immediate savings/extra income, and when you find a deal, you can then finance it with one of the paid off houses...
that would be the exact opposite of my strategy if I wanted to buy when the housing prices drop. How long will it take you to save up those monthly principal & interest (remember, not the entire payment if it includes impounds) payments to have a sufficient pile to pay cash for a good deal? In other words, take $100,000 sales proceeds and pay off a loan that you pay $1000 a month principal and interest. It will take you 100 months to save up that $100,000 ... that's a long time. By the time you get to the bank and go through the loan process, the deal you wanted will be gone.
I'd keep my money and perhaps pay down some extra on existing loans but not my entire sale proceeds... that is what I'd use to pay cash for future purchases. --72.70.xxx.xxx |
Invest now or wait?? (by Nicole [PA]) Posted on: May 10, 2021 2:41 PM Message:
... beat up duplex come on the market for $429K. It was in an excellent location and I was considering it, because it would get me two grand a month ...
I cannot comprehend prices like this. I've got a duplex that would probably sell for $120,000 in today's market. I clear $1250 a month. --72.70.xxx.xxx |
Invest now or wait?? (by ned [AL]) Posted on: May 10, 2021 8:51 PM Message:
Yes, I did not understand the math on the duplex, either. I need to be getting about 1%/month back out of a nice property. 1.5% back out of a low B, high C. 2% back out of C. --70.92.xx.xx |
Invest now or wait?? (by Small potatoes [NY]) Posted on: May 10, 2021 11:47 PM Message:
Your also might consider securing more funding before interest rates rise. I just got a heloc at 2.9% --100.38.xx.xxx |
Invest now or wait?? (by BRAD 20,000 [IN]) Posted on: May 11, 2021 12:58 AM Message:
Bruce,
My grandfather was a gardener. People would always ask him questions like "When should I prune my cherry tree?"
His standard answer was "When your knife is sharp."
I am ALWAYS buying. There are still deals out there, just under different rocks so keep looking.
I would not burn thru my entire savings just to be buying but I feel it's important to keep growing.
Over the past 40 years people told me they were not buying because prices are too high. Silly me, I bought (carefully) anyway. I just sold 2 for 3 times what I paid for them 20 years ago, having made a profit all along the way.
Stockbrokers know this - invest some now, some soon, and some later. It's a way to diversify the risk.
For what it's worth MY strategy has changed. I'm no longer hunting the perfect ROI, stuck on getting that super deal. I'm looking for solid homes that will provide cash flow for the long term, into my old age.
Even a home priced over market could be providing me cash flow.
BRAD
PS Now that you have a solid base, learn to buy in your Roth IRA o 401K. Tax free income makes the deal several % sweeter! --73.102.xxx.xxx |
Invest now or wait?? (by Nicole [PA]) Posted on: May 11, 2021 8:33 AM Message:
...I'm no longer hunting the perfect ROI, stuck on getting that super deal. I'm looking for solid homes that will provide cash flow for the long term, into my old age....
that's always been me, buying and selling. A need a 'good' deal, not 'the best' deal. --72.70.xxx.xxx |
Invest now or wait?? (by myob [GA]) Posted on: May 17, 2021 2:17 PM Message:
Bruce with 25 you don't take advise from realtors--- you know the ones who own nothing.
As a RE investor the purchase window is always open-- always.
I'll say this about cash. When you are done with investing and buying-- really done--- no start the cherry picking and pay off of those property's that have the greatest ROI and work your way to the end of your list. You don't get 25 rentals listening to others or taking others advise. You did it by making your own decisions. As some have said-- for many it's never the right time. Don't be that Henny Penny or worse-- turn into one. Make your decisions and move forward. --99.103.xxx.xxx |
Invest now or wait?? (by Pmh [TX]) Posted on: May 17, 2021 5:14 PM Message:
Pat: our CPA said the same. she has rentals. she said take the hits now if considering ramping down & not carrying on forever. I will be dead b4 forever gets here. but no doubt taxes going way up & biden wanting to eliminate exchanges. still sore having to pay the surcharges bc of sales in the last several years. no doubt interest deductions elimination is on the horizon. so am selling high & paying the taxes now. bc what am paying now is less than what will be..time to cash in. but do look fwd to next re crash & will buy again....ha --70.119.xxx.xxx |
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