All Forum Posts by: Chris John

@Bud Gaffney

Please give examples of the anti landlord crap that has come from Rs were in office.  I'm not saying that it didn't happen, just that I can't think of any instances.  I'm very curious to see the examples that you provide.

Thanks

 @Darius Ogloza

Wow.  I'm in California and only started investing out of state fairly recently, so maybe that's why I've never heard of deficiency judgements.  Crazy!  Thanks for teaching me something today!  haha.

I was a little taken aback this morning while searching on realtor.com as I noticed the first short sale I've noticed in a LONG time in my little hometown.  I'm not sure if there have been others recently that I didn't notice, but this is the first one that I can remember in years and years.
Are you seeing short sales in your area?
Do you think this will be the first of many?
I ask because even with the softening in the market, I have a hard time believing that this person could be so far upside down as to require a short sale...

Well, @Bruce Woodruff, just because the previous countless attempts to outsmart free markets haven't worked yet, doesn't mean the next one won't.  We just need to let them try another law or two (surely they're getting close to figuring things out).

And, if those new laws don't work again, we can just throw up our hands, complain that "free markets" don't work, and that we need more laws and socialism to fix our broken, capitalistic economy.

@Christin Nguyen

I'm with @Eliott Elias.  Run your numbers correctly (ask for help if necessary).  Make sure it won't leave you at the edge of a cliff financially. 

If the numbers work and you're not extended, be brave.

If the numbers work, but will leave you extended, get a partner.

If the numbers don't work, don't be foolish.

You're trying to buy deals, not houses.  Let the deals speak for themselves.

@John McKee

One of our properties is interest only and I'm starting to wonder:

1.  Why aren't the others?

2.  Why should I pay this thing off until I have to?

I feel like the history of our investments show that debt retirement has been far less lucrative than price appreciation and much less useful than the extra liquidity that interest only loans offer.

We've ended up refinancing our properties to help scale up anyway, so I'm wondering what the point of burying what could be extra cashflow into the houses through debt retirement is when I could keep it handy (or even have it working in mutual funds or other properties) in the meantime.

Having said all of this, I believe I'm only at the beginning stages of noodling through this.  The temptation to over leverage and the disparity in the attractiveness of the loans types in terms of rates, etc. are concerns that I still need to address.

I think I'm trying to say, you're not the only one thinking about this!  haha

@Devron Goodwine

I respect the grind!  Good luck to the two of you!

I'm... virtue signalling... so... HARD!  (Man, I hope someone, somewhere sees this and gives me credit for my progressiveness!!!)  haha.

Tons of water has fallen in California, but we're in a drought.  Man made problem.

We have tons of natural resources which could easily be translated into building materials, tons of labor sitting at home on their arses getting free money, and tons of empty land, but homelessness is rampant.  Man made problem.

The people that need free market capitalism the most to get them out of their crappy situations are falling for the lies of collectivism more and more and voting themselves into misery.  Used to care, now I don't.  

Capitalism and Democratic Republics are the bee's knees!

Lol.  Posts like this have me ready for Galt's Gulch.  WHAT. HAPPENED. TO. AMERICA????

I know I've pointed this out, but I still think the comparison should be price per square foot.  To me, with low interest rates and easy money, that's a great time to trade up into a larger house.  With higher interest rates, I'm thinking that more smaller houses are being sold.  So, are we seeing a price drop because houses are actually getting cheaper or are more smaller houses selling which makes it look like prices are coming down?  No idea. 

I'd like to see @Greg R. and @James Hamling come up with competing sets of data and argue about it though!  haha.