@Jay Hinrichs Hey Jay, I was reading that a year ago approx. 40 of the primary 300 plus (or 200 or more they monitor) US markets were already showing major signs of a 'correction...' but of course nearly ALL of those main metros also have micro demographics therein with neighborhood market maturation stats that are not "the average" brush bristles the faux media tends to paint the "herd" into the corral with, about every decade to get them to 'stampede' for the exit doors, only to get 'slaughtered,' time, and again! (And some areas will mostly remain up, down, or 'correct' up to 50% plus either way, so knowing what to be in or not, where, when and why (so you realize when to EXIT) are all valid concerns!
I believe I have a better 'approach' than this "buy -n- hold" mentality that remains almost entirely beholden to whims of a highly controlled and regulated "casino play..." just like the rest of their "what goes UP, must come down, roller coaster" games. And like ANY 'commodity,' homes that are bought and resold like clockwork ultimately can 10- 100X say a 15- 30 year play, with 3:1 interest, to principal... so it amazes me that ANYONE is still buying, holding and "renting" SFRs, in the 21st Century?! (Unless they EXIT prior to every correction. And good luck, with that!)
I know noone wants to tie- up $500k. plus into the aforementioned in "investor unfriendly" California, however if they opted to "think outside the box..." they might even 'rethink' their perspective, in lieu of what I'm envisioning??? If you know of anyone that would consider acquiring properties in the North Bay, etc., I just rented a place in Calistoga, last month. (I couldn't stand the heat in the Valley of to much sun... so I came back to Cali, for now, and Sonoma and Marin counties were a total "rat race..." so I am for now, in a town with minus 6000 people?)
The pre- foreclosures here (Napa, Sonoma, Marin counties, the Bay Area, Sac, etc.) are definitely intriguing me, especially after the additional things I've leaned (and since thought of, that relate) recently regarding what to do with these "little to no equity" homes x10 - 15 million, just in the US. I need to find a few (then more) "private lenders" and utilize OPM while paying them well to do some 60- 120 day deals (i.e. Cash resales, vs. lease purchase deals) so if you see anything that looks 'intriguing' near me to check- out and/ or know of any investors (for either California north, south and/ or in NV, AZ, etc.) I suspect the ROI will exceed the alternatives the vast majority of these guys are making, elsewhere (i.e. Like 99% of them...) precisely because I'm not your average "cud chewer, grazing on conformity..." until they close my CQV 'trust' account. ;-) Let me know if you want to know more about what I'm eluding to here? ATB :-) Scott T.
