All Forum Posts by: George Red

If I'm interpreting correctly they're anticipating .75 rate cut next year so depending on what rate you're looking at today, knock .75 off of it and that's your rough target for the end of 2024. If they start cutting in time for Spring it will for sure help with a market upswing more than the traditional Spring bump. I don't think there will be crazy swings but welcome to the new normal and if you bought properties during the past few years enjoy the upswing.

I own multiple investment properties in my name and I live in CA (properties are out of state). Because of the moratorium of writing new business in CA I cannot leverage my "normal" insurance carrier for an umbrella policy.

Looking for a provider recommendation from someone presently using an umbrella policy who has had positive experiences with the carrier/vendor. I've gone online and can obviously find vendors there but looking for first hand accounts/recommendations and potentially why you chose one vendor over another.

Thanks in advance.

In the middle of trying to get a tenant out and offering cash for keys instead of going through the whole eviction process. When doing cash for keys what is it customary to have a tenant sign agreeing that the tenancy is terminated and they relinquish any claim to be in the property? Do you just create a quick document and get a wet signature or what is best practice?

Any advice appreciated.

My crystal ball says that rates  establish a new normal and hover in a tight range for the next year and maybe come down a little in 2025 depending on how inflation fares. Investors will continue to struggle to find deals that pencil as the price/rent ratio will not have a catalyst  for disruption. Long term buy and hold real estate has historically been a winner but I think other strategies (flipping/str) will be more challenging than when we had a low interest environment.

The best time to buy real estate was always 2-3 years ago but that especially applies today. People late to the party are feeling locked out and trying to "make the shoe fit". As affordability flags, people and investors will move into lower priced product as it's still "more affordable" and in the right areas the "path of progress" will accelerate. My 3 cents...

I’ve had the same thought as I purchased an investment property under my own name and quit claimed into an llc. The goal is asset protection but with the loan in my name… curious how much protection there actually is. Any insight appreciated 

@V.G Jason to answer your question about who cares that he's "othering" people and calling them savages and animals, I do... I imagine others on the forum who may not speak up aren't too high on it either. It's offensive, disrespectful, conveys superiority and is the kind of language you'd expect from someone who holds unflattering opinions of multiple "others," not just Section 8 others. This is America, speak your peace but @James Wise comments say more about him as a person than what he's conveying about Section 8 participants.

James your comments about the volume/frequency of horrible tenants also does not make common sense because if that was the case... no landlords would participate in Section 8 because everyone would be losing money on the vast majority of rentals. Free advice for you James, if you held frequent inspections you could catch/address issues early. Some of those pictures look like they were in there wreaking havoc for a while. As a landlord you have the right to inspect your unit/property. Doing so will help to minimize the chances you end up with a really bad experience.

@Jake Minyen from personal experience I inherited 3 Section 8 tenants and 2 were fine, the other had mental health issues and was rough on the property. In hindsight I should have performed inspections independent of the housing authority and listened to the voice in my head that said he needed to go about a year ago... but I didnt act on it because the money was coming in regularly and why rock the boat (lesson learned).

I hope everyone is having a good weekend and James I hope you learn to view your fellow man with respect... and to maybe vet tenants better and do inspections.

@Palmer Thomas Reminds me of an old Native American proverb... "If we could just get rid of these immigrants everything would be better"...

Typically when someone tries to boil down a nationwide multi faceted problem down to "get rid of the immigrants" they're (in this case it applies to you) very wrong. It's complex and there are a lot of players and reasons. If it was easy someone would have solved it already. I suggest you do some basic internet searches as to the causes of the housing affordability crisis, it will include themes such as government policy, capitalism (who is often paying immigrants as cheaper labor), international unrest (which immigrants are often fleeing from), investors inflating prices, people looking for affordable housing not wanting to live where there actually is affordable housing), high interest rates, general inflation and more. All of those things blend together to provide the reasons why, it's not one thing. This guy with a bad comb over that was found to have commited fraud recently has a bad habit of trying to make complex things too simple, complexity is ok, it's part of life.

I purchased a property with Section-8/HAKC tenant in place and he recently moved out. I had a good experience with the tenant and liked the timely rent payment too (he left the unit in good shape contrary to some who say Section-8 will trash your property). I've been on the HAKC website and the sites they recommend to use to locate tenants are not good to put it mildly, some direct to non-working URL's others are poorly designed sites that I'm having issues posting the property on.

Any tips/tricks from people leveraging Section 8 tenants in KC on how you find tenants? Any insight appreciated and thanks in advance.

- George

I purchased a few rentals in the past few years. Have had minimal issues with late rent but it seems to be happening more frequently. As inflation has continued... have others been experiencing this with tenants? How much of a hard liner are you on collecting late fees and posting notices to cure etc.. Rent is coming in, just a week or two late. I'm looking for best practice here... anxious not to lose a tenant and then have to pay for a turn by pushing too hard, or is best practice to push hard early and often so it does not become a long term issue? I do have one vacant unit that is posted for rent but it's been available for 2 weeks without any takers, trying not to push myself into vacancies in the "off" rental season.

Thanks in advance, any tips/thoughts welcome.

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