All Forum Posts by: Chris John

@Paul Meyer

"Your history doesnt have anything to do with how you choose to live in the present."

I'm glad that you've apparently turned your life around or whatever, but this statement is ridiculous.  People can change, but that becomes part of their history.  People that don't change will absolutely act the same way - good or bad.

Regardless, why shouldn't I have the ability to make an informed decision?  Perhaps I want to reward people that have never been convicted felons.  Maybe I want to limit exposure to people that might make rash or poor decisions.  Why shouldn't that be my right?

@David Yu

Having an ungrounded house might decrease the pool of buyers, but I'd definitely go with the GFCI though.  It's such a cheap, easy fix for a potentially expensive problem!  Hard to imagine getting your money out of the rewire imo.

Good luck and best wishes.

@Amber Gonion

I'm sincerely glad that you're having success so far.  A few thoughts to what you've written:

-  It's not the going over the cliff that's the problem so much as it is the landing.

- Are other landlords being precluded from or choosing not to enter those markets based on these laws?  If so, it's already beginning to consolidate and restrict the market.

- I'm not sure I fully understand this statement "After a dozen years remodeling and appeal for a rent increase and start raising again.", but it sounds like you're having to ask for permission to raise rents?  At that point, I don't even really care so much about returns as much as I do about enacting a plan to get my money somewhere where it's safe.

-  This statement nails it for me "We have always said for the last few years that it is not what those city councils have done, it is what they might do that scares us from recommending investment in those cities."

In the end, there's too many other places to deploy money.  I'm happy for anyone that makes it work in these places, but it's just not for me with so many options across the country.  I'm still working on trying to get my money out of California, personally.

Best wishes!

@Ned J.

Sheesh.  A CC "Daddy's money" guy?  That's rough.
:(  haha.

Seriously, yeah, agree to disagree.  I see California's rent control as an invitation for me to exit my money from the state.  To me, the law appears to explicitly favor "big dog" investors with the preference for new builds.  Hard for me not to imagine some crony capitalism involved in decisions like that will lead to more laws like it and the little guy being driven out.  Without knowing, I'm guessing Seattle has made similar decisions in the past to end up where they're at now.  Having said that, it's hard to see under this tinfoil hat...

Best wishes

*you're 

Oh, the irony.  :( 

haha

@Ned J.

Your tone suggests that you disagree with me, but your words suggest that you agree with me.

"The big boys corner the market because they have the financial backing and political clout to push out the little guy. The system is put in place by the people in power.... both political and financial.... to favor the big boys."

Who votes for the political people in power in Seattle?  Over and over?  Generation after generation?  Republicans?

I'll assume your an East Union grad.  haha.

@Wendy Man

I think I won't be investing in Minneapolis real estate anytime soon.  I also think that the only successful investors there will most likely be taking part in good ole fashioned crony capitalism.

@Shiloh Lundahl

Sorry.  I didn't watch the video, but I'm curious to know if you looked at opportunity costs?  If @Eliott Elias is renting, but using his surplus savings to buy other investment properties, he's very likely to come out ahead versus simply owning his own home.  Obviously, it would then be a comparison of the fictional house he'd buy as an owner occ vs. the investment property that he did buy.  As mentioned, he'd have increased flexibility as a tenant and as long as his investment rents increased proportionally with the property he's renting, it'd be a wash.

Having said that, I own.  Well, the government owns it (taxes that never end), but allows the bank and myself to claim ownership for the moment...

@Carlos Ptriawan

I'm going to show your comment to my wife and see if it gets me anywhere.  Something tells me that she'll remain unimpressed by me.  haha

@Matthew Harding

I realize this isn't popular to say on a real estate investing website, but unless you plan on putting more effort into real estate investing than a casual investor would (I don't, myself), you're probably better off backing away from this market for now.  

If you're not connected, you're going to be fist fighting industry experts for an ever dwindling supply of acceptable deals.  Or you're going to buy and wait and wait for rents to come up and interest rates to drop to justify your purchase (in the meantime, you'd have probably made more in mutuals).  Or you're going to have to buy a large property and modify it to rent by the room - which will be a pain in the arse unless you're fine with it being your new job.  Etc., etc., etc.

These are pretty choppy waters and unless you're sure you can swim in them or are knowingly completely willing to swim for your life, I'd say to just wait it out on the shore. 

Obviously, I'm just looking to be a passive investor and not looking for a new job for myself though.  I believe there's a place in this market to be successful for those that are.

Best wishes