All Forum Posts by: Account Closed

RE is better than the stock market. The problem unlike other events is that this CV is still developing. Its hard to quantify or qualify until some resolution is seen such as a vaccine or numbers start to flatten. Governments are grappling with what an appropriate response should be while there is no cure. This virus is still a mystery. Will it go dormant in warmer weather? will it flare up next winter. I think our sense of normal is still being redefined. World GNP will take a major hit this year. Will China do something stupid or aggressive? Will they be blamed? Will the chinese wake up and rebel?

People need to live somewhere no matter how bad it is. I may not raise rents this year even though taxes will creep up. But i will make tenants aware that I am making my sacrifices like others. Areas heavy with AirBNB will definitely suffer. Suburbs will be better than cities. Some tenants will stay rather than risk buying that starter home. I have most of my renters paying via QuickPay or electronically. 

+20% rental income versus stock market -20% is an easy choice.

@Matt R. your first mistake is listening to an "Ivy League Dr." 

second is "40% to 60% of population will get the virus and millions will die from it" is not basic math.

third, why say "Not to alarm anyone needlessly" and then state some fuzzy unfounded "expert's opinion and fear-mongering? 

I understand that concerns are higher pitched on the west coast because of the proximity to the far east.

Did you make this up?

Keith,

Briefly, ease of use. I get the information I need quickly. Doesn't come across overly intrusive by potential renter. 

TransUnion overcharges and from others feedback in reviews the information is incorrect.  

Actually, I have. He was describing his system for his RE business and online training business.

No, your quote is more about your experience than mine: "Fair bet: The instructor would answer questions you haven't even thought of yet, even with your experience."

My goal in any experience is to take away at least two insights. One of the insights was this: the market is getting mature. All the properties he was targeting were further "out" and less prime locations. In 2008 you could risk 1 dollar to make $100, now we are moving toward investing $100 to make $1. the risk/reward mix is changing. Some of my mentors are selling and loading up cash. There are still opportunities if you are disciplined and have a business model. 

My initial turn off with Renatus is this: The sales pitch reminded me of sleazy commodities retail brokers. the pitch was slick for someone naive and greedy or jealous.  One of the speakers was an old retail broker matter of fact. 

Bottom line: they charge too much. Better cheaper avenues to learn. If you are aggressive about learning and approaching people you will grow. So many people want to share their insights ... or brag.  so jump in. 

One quick thought. I have a dear friend who signed up for a $15k RE class. That was enough for a down payment on a first property! I am a technology guy who learned on my own time and aggressive pursuit of information and people. This business takes time and aggressiveness. I am now a landlord of numerous properties. BiggerPockets, meetup.com and friends i have made with similar pursuits have helped me soooo much.

Buying the first property creates the many questions and concerns you would never think of just sitting in a class. Knowledge gained is not success insured. Jump in!!!

My experience with them. I met a guy who went through their courses  Pretended to be my friend but wanted me to sign up for classes. He later admitted that they give a commission to students who sign others up. I have no doubt there are good folks who get involved but I find them too slick. Remind me of retail commodity salesmen trying to get you to invest in gold. The sales pitch is dummy downed. I heard one guy talk with grey hair twice with a year between. He was a liar with two  completely different stories. Best thing i recommend is be aggressive and pursue mentor type people. This is a networking business; for knowledge, money, and partnering. 

Honestly, I not only listen to the speakers, i also evaluate the audience because one day the RE business will get over crowded with the laggards and suckers. Sorry but true. That is the time to stop and wait for the down cycle to mature and finish.

The next turn will be a correction due to slower growth. Coming from a trading background a correction is good and cleans out excess players. Also, the next one will be a simple supply and demand coretion rather than a government generated bubble. If foreign money(Vancouver) or money laundering(Miami) were the major drivers in my Midwest area i would exit. Flipping will slow down since its fundamentally a momentum game and momentum slows down when the market turns direction. I buy and hold only if it cash flows and the demographics are improving.        https://datausa.io

RE investing is very similar to investing in dividend stocks. The difference is that erosion is compensated for by depreciation. In my area outside Chicago the multi-units are overvalued for their age and cash flow so good luck to the sellers. 

Remember in any market the cycle is risk-taking and risk-aversion. Is the greed overdone or are we moving toward a more normal market? Really this market was too easy if you stumbled into it the past 5 years.

I highly recommend Experian at https://connect.experian.com/

I don't recommend TransUnion at all.

All you enter is potential tenants name and email and your reason (tenant credit check).

They receive an email and costs $ 14.95

I also have them fill out an application and call previous/current landlord.

If they want someone to cosign like a parent i require credit check on cosigner as well. Trust me cosigners can be worse. Also be careful with non married couples if one of them can't afford the rent on their own. You as a landlord put yourself in a position of needing the relationship to be maintained.

John

I highly recommend Experian at https://connect.experian.com/  

I don't recommend TransUnion at all.

All you enter is potential tenants name and email and your reason (tenant credit check).

They receive an email and costs $ 14.95

I also have them fill out an application and call previous/current landlord.

If they want someone to cosign like a parent i require credit check on cosigner as well. Trust me cosigners can be worse. Also be careful with non married couples if one of them can't afford the rent on their own. You as a landlord put yourself in a position of needing the relationship to be maintained. 

John