All Forum Posts by: Ben Lin

Lisbon, Algarve or Barcelona ;-) 

Why not, right? 

I see a price correction if mortgage rate hits 8% but definitely not a crash. From now until 2025 there is no way housing will crash due to lack of supply. We are in a serious lack of supply environment, which I think will not get better until 2026 or beyond. It would take a 20% interest rate to crash the housing market this year.

@Dave Meyer I want to know which city is going to be the next boom town like Austin or Boise?

After listening to the BP podcast about the ultimate asset protection, does anyone here know a good and affordable lawyer who can create a hybrid trust? Do you guys even think it is necessary/ a must for RE investors to have a hybrid trust? 

Have you guys seen a slow down (i.e., price cuts, a lot longer DOM) in your local market now rate is at 5%? If yes where is your local market? Most markets still have supply and demand issue, but what will happen when mortgage rate hits 7 - 8%?

Thoughts? 

Yes I am still selling and buying. I am off loading properties in expensive cities like LA and buying more units in cheaper cities like Philly or Cincinnati. My properties in LA have increased so much in value, and I am getting old so yeah after many years of appreciation I am now switching about 35 percent of my portfolio to cash flow. 

With the current hyper inflation environment there is no doubt a recession is under way. How much longer can Americans pay $5-7/ gallon for gas? When gas hits $5 but salaries remain stagnant a recession will surely follow because people will have no money to buy other stuff.

But I don't see the coming recession affecting RE prices as much because of supply and demand issue. Our current inventory is super low and people need a place to live, no matter during a recession or a boom. Another indication that I think the coming recession will not affect housing is banks are still very tight and careful with lending their money. There is no NINJA loan or anything like that. When NINJA loans are making a come back then we all should run for the hill...

Hello BP community,

As I have good working relationships with most of my tenants, how do I increase their rents without them thinking I am a greedy landlord? On one hand I feel kind of bad raising rents but on the other hand my rents have not kept up with the current market rent. I would not care if I don't have good relationships with my tenants. Most of the time I try landlord-ing with love and care, but it has gotten me kind of soft. The difficult part is my tenants are nice, decent people and have been great so far. I know I am running a business, so maybe there is no other way around this?

Any advice?

I would keep talking to your mother in law about owner financing option. Have you explained to her the taxes she has to pay if she takes a lump sum? Maybe find out how much cash would make her feel comfortable and see if you can come up with that amount.

If your mother in law is not in hurry selling her house, maybe you should buy a duplex first. Make it cash flow and you may be able to take some cash out of it in the future when you refinance. And if your mother in law still doesnt want to do owner financing and your family really wants that house you can just sell the duplex and by then hopefully it has appreciated.

See if you can sit down with your mother in law and ask her to sell you the house in 2 -3 years time? This way you can invest and save some money first for the next few years.

Good luck to you sir. 

I would not get a new appraisal, unless I have done quite extensive renovations. I am not familiar with your area but if you're not in a desirable area, your appraisal will come back similar or may even be lower if you use a different appraiser.