All Forum Posts by: Bill B.

Not once did I hear a timeline over 2 years when these predictions were being made daily in 2008 and 2009. You can’t say something that happened 10 years later stalled a prediction. You’re left with two possibilities  they were wrong or they were deceitful  I’m pretty sure if they KNEW the MASSIVE INFLATION (their words) wasn’t going to happen for 10 more years, a couple presidential elections and congresses later, they would have said so.

Saying you were early when you “Predicted” something that will certainly happen sometime in the future is no predicting and certainly isn’t helpful, maybe even harmful. 

I predict there will be another major war! You should worry  

I predict the US will face massive damage from a hurricane! Worry worry worry  

I predict a world leader will be assassinated!  plan plan plan  

“Predicting” something has to come with a timeline, or as any smart predictor knows, one will be assumed. And by default the predictor accepts that timeline or is being deceitful. 

How many years from today can his “prediction” still be right? Does it have to be the next recession? Or can it be 3 recessions from now and he was still just early?

How many years from now will he apologize to the people he talked out of the massive stock market rally and into a money losing gold investment?

Is he the same clown that predicted MASSIVE inflation every day on every podcast and in every interview for the first 3 years after the recession because of the stimulus  package? Over and over and over. Or the guy hyping gold was going to $10,000/oz? Or both?

If he was, he wasn’t alone. Some of those guys from 2008-2012 owe MASSIVE apologies, or at least an acknowledgement that they were wrong again. 

@Jonathan Aymin

Thanks Jonathon, say Hi next time you're in town. I have pizza with many of the California guys (and gals) who come here for the low entry prices. But, you're right, we do seem to have a lot of good quotes going around lately.

One response to a guy who posted saying the crash was finally here, trying to convince people properties were down 20% in his neighborhood. "Well, the crash everyone's been waiting for is here according to you, lets see how many "buyers" were really waiting.

But my favorite was someone that asked "How do the people who lack the courage to invest during a booming economy expect to have the courage to invest during a recession?"

Personally, I think a lot of people think saying they are thinking/preparing/planning, to invest in real estate is the same thing as investing in real estate without any of the risk. There's always one more thing stopping them from investing, but when that goes away they're going to set the world on fire.

Your current insurance agent should be able to give you a quote in less than 5 minutes. I simply email the address to my agent and he responds with a quote for the property with my current limits. 

Jennifer is right about options and variances. 

In Las Vegas or north Las Vegas the utilities will switch the name back to me when tennant leaves so they stay on for make ready and avoid turn on fees. 

In north Las Vegas and tonka bay Minnesota they will lien your house with past due amounts. In Las Vegas it’s all on the renter. 

The first link is to the state’s landlord info and the second to a respected website. It looks like I may have imagined or just played it safe with the separate  account, but the interest is 1% and required. 

It’s my only MN rental and they have a state income tax  so I kept it separate  

https://www.ag.state.mn.us/consumer/handbooks/lt/default.asp

https://www.landlordology.com/minnesota-landlord-tenant-laws/

At the end of the tenancy, the landlord must return the deposit to the tenant with interest. Presently, the required interest rate is one percent, which is calculated as simple noncompound interest.

I pay the Hoa fees, my tenant pays everything else. 

Make sure you keep their security deposit in a separate account and pay them interest (I believe it’s 1%) (I use a Wells Fargo cd to keep it separate and earn the interest I have to pay.)

There’s also a year end form you must send them that says how much rent they’ve paid for tax purposes. 

I think you can find most of it with a quick MN landlord laws. 

@David Van

Thanks David, old post, but it lets you see how long the “next crash is coming” people have been around. And now Vegas is up another 13% since then. 

Now a 25% crash puts us back to 2017 prices instead of 2016. Maybe we can revisit in 12 months and a 25% crash will put us back to the prices We were warned us were too high.

Must be impressive apartments. If your going to pay $20k/month in interest plus utilities, Managment fees, repairs and maintenance and still generate $6ok/mo net income on 38 units? $2,800/mo rent each? Maybe more?

If your plans involve $720k/year net income on $2.1million with the interest you should be able to find some takers for a 3 year loan. Especially since it will sky rocket to almost a million a year net income on 38 units after the loan is paid off. Again, huge rent, ocean front?

Maybe find out if the 3 acres has any value and find a separate cash buyer for it. And bang, there’s your downpayment. 

This is what I saw for free. Didn’t see any way to pay for more info