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All Forum Posts by: Aaron Mazzrillo

Aaron Mazzrillo has started 53 posts and replied 2649 times.

Post: Should I wait for 'the crash' before I buy my first property?

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

I've been reading posts about the coming crash on this site for years. Still not here. Still waiting...

Post: Where’s the Bubble?

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

Pretender economists have been predicting the real estate market crash on here for YEARS. Always wrong. Always based on zero data. Always because they missed out on the unbelievable buying opportunity of 2008-2010 and they wish they could get those prices again. NOT GOING TO HAPPEN... 

Post: Seeking Biggest Mistakes and Lessons Learned Stories (Again!)

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665
Originally posted by @Taylor Santoro:

@Aaron Mazzrillo what’s the biggest deal you’ve done? Total units wise.

I bought a 65 Space mobile home park, then sold it 4 years later for $1M more. I was in escrow on 200 units in Tuscon, but the deal was a bit stinky, so I stepped out. Not sure if the other investors closed it or not. I'm currently converting 4 small office buildings into 4 duplexes consisting of 8 one bedroom apartments. Total rehab is budgeted at $350K.
If you listen to the podcast I did on here a few years ago, Show 37, not much has changed in the way I do business. I run more of a development company now, but we still work very few hours a day, only a few days a week, and invest more of my time enjoying my days than crunching numbers.

Post: Seeking Biggest Mistakes and Lessons Learned Stories (Again!)

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

Go bigger faster. 

Post: Big Bear or Lake Arrowhead for Vacation Rental?

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

Everything Real Estate is killing it right now in California.. except office and restaurant space. Those aren't doing so well.

Post: You have 6 months to liquidate your assets

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665
Originally posted by @Gabriel F.:
Originally posted by @Aaron Mazzrillo:

And for the record, if you search this site, you'll find lots of economic gurus preaching market crashes in 2017, 2018, 2019 and here we are in 2020.. nothing changes on this site. Same BS, different day and different crop of newbs with all the right answers.

I agree. My dad seems to follow this mentality. At some point they are correct but it is just by chance.  Like the old saying goes, even a clock is correct twice A-day. BTW Arron, I  enjoyed the 1 on 1 you did a  while back and I agree about reading and investing in your self with books first. 

I appreciate the kinds words. Much success to you!

Post: You have 6 months to liquidate your assets

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

And for the record, if you search this site, you'll find lots of economic gurus preaching market crashes in 2017, 2018, 2019 and here we are in 2020.. nothing changes on this site. Same BS, different day and different crop of newbs with all the right answers.

Post: You have 6 months to liquidate your assets

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665

You can throw every fact, figure, statistic, and voodoo trick you can think of at the wall, and you're probably still wrong.. at least on some level. I know a guy who "predicted" the drop last cycle.... BUT.... he figured it would take longer than reality... So, all those that listened to him still didn't sell fast enough and many were caught with over leveraged houses. 
This time, you can say it is going to be bad, but maybe it comes back quick, like a deep V I've been hearing thrown around by all these new economic magicians, now you've "liquidated" everything... and in your world I don't know what that means, but by the way you talk I assume not much, and then you have to buy back in at the same level pricing, or worse, higher pricing because inflation (it's coming.. supposedly?) drives prices on everything up quickly.

Here is the ONLY prediction that is guaranteed to be 100% right, every single day; The market is going to go down, up or stay about the same. Good luck with your fire sales.

Post: How do you refinance a subject 2?

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665
Originally posted by @Derek Hamilton:

@Aaron Mazzrillo

How does that work out for your personal taxes because if I do it this will be the property I’ll occupy so there’s no money to be made off this property.

The 1098 comes out in the seller's name, but you still claim it because you're the one paying it. It is only potentially a problem if he still claims it, but even then highly unlikely. If you do the paperwork correctly, he'll never get the 1098 mailed to him so you won't have to worry about it. Lastly, if you don't have the money to pay off the loan or are in a market that is too slow to be able to sell the house in time, in case the DOS is exercised, it is unwise to even do the deal.

Post: How do you refinance a subject 2?

Aaron MazzrilloPosted
  • Investor
  • Riverside, CA
  • Posts 2,770
  • Votes 3,665
Originally posted by @Derek Hamilton:

@Aaron Mazzrillo

The seller is in his 70s so I would like to do that because I don’t know how long he’ll be around. Plus the only reason I want to avoid the bank is timing right now. I rather the property be in my name so there’s no issues with insurance taxes etc..

I have a sub2 deal and the lady has been dead like 4 years. When you buy sub2, you transfer title (that's the buying part) into your name (or entity), but the loan stays in his/her name. As long as you do all the paperwork correctly, you shouldn't have an issue with getting the loan called. Hasn't happened to me and I've done a bunch of them here in SoCal.