All Forum Posts by: Chris John

@James Hamling

"I want to buy when the blood in the streets is so deep I need hip-weighters to get around."

The problem is there's a million sharks and almost no blood to go around because everyone is sitting on 30 yr fixed rate mortgages at low rates.  Volume is going to be low forever.  Sucks to be a kid or someone that doesn't already own real estate, I guess.  

@Carlos Ptriawan

" buy and hold for 3-4 year is the plan. If I rent it out the DSCR would be 0.9 with 7% rate."

Are you financing these?  How much down? 

I don't think I'm comfortable with a 0.9 DSCR. You've shown yourself to be a very bright guy, so I don't worry about you though. haha.

I keep seeing people say that when nobody is buying, it's a great time to buy.  That's such fallacious reasoning, it's ridiculous.  Nobody's buying stock in companies that produce VCRs.  Is it a great time for me to buy there too?

@Jeff Schemmel

I got taken behind the woodshed by Gavin Newsom and California during coronavirus.  Whether I'd make more money or not isn't the issue for me, I'd rather have my money where I don't have to participate in crony capitalism where the most connected investors are the most successful.  Minneapolis strikes me as a similar type of enclave. 

@Marcus Johnson

haha.  There are some locales that I very much support vacating and Minneapolis is one of them! 

@Marcus Johnson

I guess I see it a little bit differently than you.  I agree with you regarding the current market and I am not buying, but I'm definitely holding onto all of my properties as they all cashflow.  It would be interesting for both of us to calculate the opportunity costs of our decisions in 10 years to see if I would've been happier selling and then rebuying or if you would've been happier holding.

In the end, finding properties, going through the purchasing and rehab process, getting approved with my lender, finding good tenants, etc. takes a ton of time in my opinion.  I'm not excited about going through all of that again anytime soon!

Best wishes

"I truly consider myself to be a bit of a liberal socialist but because
of the “renters” in the South side of Chicago have turned me into a
vindictive, contemptuous, borderline-nationalist/extremist who is never,
ever going to rent to anyone down in that area of the world. These
people are rotten to the core, have no sense of decency, responsibility
or good judgment."

LOL.  This paragraph almost perfectly captures the irony of our current political system and the liberal hypocrisy that is inherent in it.  Good luck getting away with saying this is you identified as a conservative, but since you identify as a liberal AND a socialist, we'll let it slide...

LOL.  You're chugging along, thinking you're doing great and then you read a balla thread like this (and realize you're not one).  :(

Keep killing it, y'all!

@Tom Voigt

No advice from me on this, but I did want chime in and say that I was already a junkie for investment properties by the time I bought my second.  It's definitely possible that real estate isn't your thing (and there's nothing wrong with that if that's the case).  It's way more work than mutual funds, for sure.

Best wishes.