All Forum Posts by: Danny Grey

Some pretty gross virtue signalling and white guilt on display here. This entire thread is frankly an embarrassment to Bigger Pockets and the serious investors here.

As a black man, I don't need YOU to do anything for me. Myself and many other black Americans are succeeding on our own merits, and if that changes we can handle it and adjust the same way other races do. There's a reason blacks in America are the wealthiest blacks in the world; it's because we live in a great country that provides us with incredible opportunities, all of which I'm insanely grateful for. Just because we, as a racial group, aren't at the top of the collective earnings heap doesn't make us victims.

And btw, whites aren't at the top of that list either:

This bullsh*t progressive orthodoxy being promoted en masse that insists that whites bear collective guilt and privilege and they must "atone" by being an "ally" is disgusting and dehumanizing for all parties involved, and I'm disappointed to see this nonsense on the BP forums. 

To all the commenters here who think we need your help to succeed: take your White Savior Complex and shove it, Khaleesi.

The only way that money will ever be paid back is in the event of severe hyperinflation.

Public sentiment is definitely not on property owner's side atm. This is the kind of stuff getting tons of likes and shares all over social media right now:

I wouldn't be surprised to see rental property owners get shafted when all is said and done.

We're seeing a much higher number of homes hitting the market in the past week or so, although prices haven't seemed to dip at all. Bearish sellers are clearly assuming a dip is imminent and trying to get out now, but apparently there are a lot of bullish buyers still happy to pay all-time-high prices for homes. We live in interesting times, and it'll be interesting to see how this all shakes out.

I think the general public has a perception that rental property owners are largely a bunch of wealthy fat cats flush with cash who can weather any economic storm, and if landlords still demand rent at times like these it's only because they're greedy. 

They average person probably doesn't understand just how much rental property is leveraged, much of it highly so, and if rent isn't paid, debt on those properties isn't paid, and we simply a see a line of debt dominoes falling into the abyss. This isn't news to any of you, but talk to some renters and you'll see this is a fairly common sentiment.

Whatever the "solution" for all this is, it needs to involve help for all parties from tenants, to property owners, to the owners of debt on those properties.

As for what this does for the overall market, it doesn't seem like much yet. I've seen a FLOOD of new homes hit the market this past week, but not at reduced prices. It just looks like folks trying to sell before the inevitable dip. The dip will come though, eventually.

That reason is not necessarily what many people are implying. It's very likely that he's simply finding far fewer opportunities to invest in. The U.S. and developed world in general are undergoing substantial regulatory constriction, corporate consolidation, & demographic decline. Berkshire has had a lot of success since the last recession but keep in mind that a lot of that initially came from them putting pressure on congress to bail out banks that had their money in them... so when other companies got cleaned out, Berkshire had room to run when others couldn't, and a lot of their success cascaded from those efforts.

Also, we have to remember that Buffett is 89 years old and has long since passed the top of his game.

Only time will tell, I suppose.

3 months? Your price is too high. Lower it.

OP, are you aware of SB330 and SB50 working their way through the California state senate and key committees now? Combined they allow the state to completely override the city of San Diego's ability to set density limits or height limits within 1/4 mile of public transport. Basically, within that range any single family home can be remodeled into 2-4 separate units, and the height limit currently in place along the coast north of Coronado (30 feet) goes up to more than 50 feet.

It does NOT allow developers to demo single family homes to build new multi-family though.

They seem to have a decent chance at becoming law as developers are pumping a ton of money into the politicians behind the bills, and every time it looks like the bills are about to get shot down a new amendment is added to please someone else and it passes.

This is worth paying attention to, even though it will likely get tied up in court.

Relevant: https://www.latimes.com/opinion/livable-city/la-ol-sb50-single-family-20190424-story.html

You can't have Montana. We'll gladly take Alberta off your hands though :)

Exactly right. Considering the problems at Tesla now (hidden inventory found, mass cancellations of Model 3 orders, constant turnover on the board, etc) I doubt Musk will be pulling anything off. In reality, California just ensured China's solar manufacturing companies will now increase production (polluting more in the process).