All Forum Posts by: Rob Burns

Who knows what the thought process is here, or lack thereof. This would destroy the real estate market and all sectors of our financial system.

This would not only collapse the housing market but every part of our financial system...

Is everyone keeping an eye on this proposed bill which will make it illegal to collect rent and mortgages??? The proposal states primary mortgages and rents will be halted, and if landlords attempt to collect or evict they face $5k fines, or after 3 violations potential seizure of property. (It does not allow landlords to stop paying mortgage/tax/insurance/maintenance payments etc.) They are proposing a landlord relief fund with comes with terms of no rent increases for 5 years, the government has first right of refusal if you sell and you must offer the property to section 8 programs first. 

I don't care what side of the aisle you vote on but this is absolutely CRAZY! We need to make sure our elected officials don't let this go any further.

https://omar.house.gov/sites/omar.house.gov/files/Omar%20-%20Rent%20%26%20Mortgage%20Cancellation%20Act%20-One%20Pager%20and%20Legislative%20Framework.pdf

@elliottelkhoury Which states/markets are you having the most luck with?

@elliottelkhoury Which states/markets are you having the most luck with?

Thomas, Im surprised no one as responded to your question, I have been in Fundrise for about a year and so far so good, I really like their platform since its easy to use. I also like their investments over a lot of the other crowdfunding platforms. They seem to focus more on residential rental projects but also flip rehabs and rehab/hold project. I've only invested about $10k so far and the returns seem to be decent around 10% which is not bad for not having to do any work. Here's a referral link if you want to try them out, you can start for as little as $500 https://fundrise.com/r/v17vq  Good Luck!

@Russell Brazil in most markets I would agree to this assessment, however I have been seeing a lot of these price/rent ratios in the mid west and rust belt metros. Some of which are seeing a nice upswing right now. 

Darrell, thanks for the response, I will check into Huntsville as well. I was in up state NY when 2008 hit and we barley felt it since the market didn't go up much, but when I moved to Florida in 2010 it was a disaster. The higher they go the lower they fall, so Im sticking to off the radar "boring" cities for steady rents, and I agree Im seeing a lot of the same signs from 2007 so we are probably not far off from a correction. 

Thanks Troy, 

Ya, on paper Jacksonville is perfect, maybe I'm too close to it, but the properties that are left on the market are in really bad areas or dumps. A property I owned in 2013 that I paid $45k for and flipped for $65k is now selling for $150k and would only rent for 1200 a month so it just doesn't sit right with me.  I will do some research on Alabama, thanks for the tip!

Hey everyone, 

I'm starting to do some research on other rental markets since the prices have gone through the roof here in Florida once again.  (I'm not paying $120k a unit for $850 rent in a Class C neighborhood)  If we have learned anything from '08 is that the sand states (Fl, NV,AZ,CA) are the first to rise and first to fall. 

I'm looking for a stable blue collar rental market with low taxes and landlord favorable laws. I'm seeing a lot of buzz about the rust belt but am not sure what the actual market is like locally or if the boom is temporary, also I'm open to exploring other affordable metros.  I typically like 2-4 units buildings with rents in the 700-950 range and per unit price of $30-50k. Stable workforce, and population stability (no NY, Il, or CA)

Let me know if you have any ideas or have done any research.

Thanks in advance!