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All Forum Posts by: Eric James

Eric James has started 22 posts and replied 2192 times.

Quote from @Russell Brazil:

It's always the worst time to invest.


 I started buying houses in 2010 and definitely knew that was a good time to be buying.

Post: Elon Musk plans to move X, SpaceX HQs to Texas

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450
Quote from @Bruce Lynn:

@Neil Narayan   it will be interesting to see how many space engineers and rocket scientist will move from Hawthorn to Boca Chica which is nowhere near Austin.  Probably 7hr drive.  Maybe Elon will build a Chunnel from Austin to the launch site.


 They are running a hovercraft between SpaceEx at Boca Chica across the bay to S. Padre Island. Maybe new employees will live in the island 

Quote from @Marcus Auerbach:
Quote from @Eric James:

I guess that's why fast food chains are pulling AI out of their drive through due to the number of errors it makes: because AI is so powerful. And why we still wait on hold for human customer service reps, instead of being helped immediately by AI.


Remember the day when you were on the internet for the first time? It took a few decades to go from a hype to the backbone of almost everything from commerce to entertainment. How many people dismissed the internet back in 1995?

And systems like Figure1 will be next - BMW is already testing them on their assembly lines: https://youtu.be/aZ2xkLdRHV8

Grated, what we see here is an infant technology, but it's not even been 2 years since AI as technology has been presented, what we see now is the worst it will ever be.


 Not talking about people "dismissing" AI. Talking about it not working in some applications.

I guess that's why fast food chains are pulling AI out of their drive through due to the number of errors it makes: because AI is so powerful. And why we still wait on hold for human customer service reps, instead of being helped immediately by AI.

Post: national rent control

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450
Quote from @Bud Gaffney:

What a thread. Keep politics off this site man. DO BETTER BP.


 How about you stop reading the thread.

Post: 1M in funds but no experience

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450

Spend several years doing smaller deals to get experience. There's a reason lenders want you to have experience. You need it and you will make mistakes. Better you make those mistakes on smaller deals where those mistakes will cost you less.

Post: Is a huge real estate crash coming soon?

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450
Quote from @Jay Hinrichs:
Quote from @Jeffrey McKee:
Quote from @Bill B.:

I seriously thought the op date would be 2019, or 2015. 

There’s already been one residential crash in the last 200 years. It was almost 20 years ago so just about time for another one. Sometime in the next 180 years at least. 

Just think. If they crashed 20% tomorrow we’d be back to what 2020 prices? Oh the horror!  Just keep waiting. I’m sure if rates ever drop that will lead to a massive price drop. SMH. 

I wonder how many people’s financial futures have been destroyed by “experts” predicting a housing crash. Do they feel any pity for the live’s they’ve ruined? Do they get a thrill thinking about the power they wielded over strangers? 

Any guesses if 10,000 people or 100,000 were talked out of buying houses from 2015 to 2022. When houses were 25% cheaper and rates were half? If 50,000 people lost out on $100,000 in appreciation we’re talking we’re talking $5BILLION. 


As an agent we encourage buying over renting and buying what you can a afford when you can afford it.  


ESPECIALLY in a market with historic better than average appreciation.. I dont think first time buyers usually even know that after owing the home and living in it for 2 years any profit up to 250k for single and 500k for married is tax FREE. the absolute best tax treatment we have in the US.

in Markets that dont move as much might not be the same benefit.. Folks will know which market they live in .. u live in a home for 5 years sell it and make 500k tax free it can be life changing.

 If you're going to be buying your next house in another area. If that person needs to buy another house in the same area all those houses have gone up just as much.

Post: Is a huge real estate crash coming soon?

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450
Quote from @Bill B.:

I seriously thought the op date would be 2019, or 2015. 

There’s already been one residential crash in the last 200 years. It was almost 20 years ago so just about time for another one. Sometime in the next 180 years at least. 

Just think. If they crashed 20% tomorrow we’d be back to what 2020 prices? Oh the horror!  Just keep waiting. I’m sure if rates ever drop that will lead to a massive price drop. SMH. 

I wonder how many people’s financial futures have been destroyed by “experts” predicting a housing crash. Do they feel any pity for the live’s they’ve ruined? Do they get a thrill thinking about the power they wielded over strangers? 

Any guesses if 10,000 people or 100,000 were talked out of buying houses from 2015 to 2022. When houses were 25% cheaper and rates were half? If 50,000 people lost out on $100,000 in appreciation we’re talking we’re talking $5BILLION. 

 Wow, even the great depression doesn't meet your criterion for a real estate crash. LOL

Post: Is a huge real estate crash coming soon?

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450

Real estate has always gone up and down in cycles. Something like 10 year cycles. We're overdue for a downturn. It seems naive to think these cycles will somehow end.

Post: Long term financing for 12 unit complex

Eric JamesPosted
  • Malakoff, TX
  • Posts 2,237
  • Votes 2,450
Quote from @Joseph Chiofalo:

Hi Eric, 

When do you expect the other 2 units to be completed? 

There are lenders that will go up to 29 units. 

How much were you looking to borrow?


Last 2 apartments will be completed in 4-5 weeks. Based in earlier appraisals, the full 12 apartments should appraise around $815k. Looking for 70-75% LTV