All Forum Posts by: Chris Anderson

@Sierra Fox

We stopped doing a refundable pet deposit. Change the wording to a non-refundable pet service fee.

@Robert Shaw Hey Robert. No real waves here in Vegas. Just a simple low bottom and then straight increase to the top since 2010. As far as 2020+, you really need to pay attention the global and national economics that will end up colliding into the real estate market.  Junk bonds, corporate debt, consumer debt (3x worse than  last crash), pensions, etc. Inverted yield just happened last month. We are past the point of no return, but most people don’t want to recognize it or acknowledge it. As a cash investor, it means a lot of opportunities to help people,  but it breaks my heart knowing how many people are going to be affected. 

Simple. Anywhere in the country that has enough cash buyers....AKA, buyers who have the funds and refuse to pay retail. Getting sellers under contract is easy anywhere because sellers all over the country go through life situations. Don’t forget, not only are you solving the sellers problems, but you are solving the problem of the cash buyer in this over inflated propped up market. 

We are already in the recession. Every recession is started by a different catalyst. They all are gradual and slow and then suddenly...boom. The last one was real estate or the lending really. Stop looking to the real estate market for your answers on whether or not there will be a real estate crash. If people told you the last one was coming before it arrived, you would have skoffed at them the way Congress skoffed at them. We are embarking on a global financial reset, the question is not whether or not it is coming, it is how long can the central banks and governments can keep the fake economy propped up.

@Jim Owens 

Hey Jim, the geographic higher areas of North Las Vegas I think are the best. Homes are the same as anywhere in Vegas and 20-40k less in price. Great rental community as well. We buy our buy and holds there. You can find great prices in the mid 200's and a little less. Just remember that the higher you go in price, the rents do not reflect that. Meaning as prices go higher, rents do you not follow that pattern. Benefits of SFR is provided you do get good tenant search and find the right tenant, SFR tenants love to nest and stay for a really long time, especially if you are a good landlord. You should be getting anywhere from 1350-1600 comfortably depending on bedroom, newness of things like appliances, and square footage.

Congrats @Melanie Hartmann!!!!  That is wonderful!!!!!

I don't care how unpopular my answer is, but if people don't study economic cycles, they won't understand that the catalyst for each recession (depression) has never been the same. Last one was real estate. The next will not be the same, BUT real estate will be majorly affected. People want to say, "well, the lending is stricter."  I am here to say that all it takes for someone to lose their house is to not be able to pay for it any longer (loss of job for instance).  You have numerous people who have that problem, you have a real estate affected issue.  It is naive to base one's decision of the real estate market on the variables involved in real estate. And for the Las Vegas locals....global economics could not give 2 cents about the Raiders coming to Las Vegas.  Study the things that are going to be major issues:
Pensions are underfunded and are now being run by the bankers who crashed the housing market. Calpers has to get at least a 7% return in the stock market just to be able to make due on their promises.
FYI: Robert Kiyosaki is sounding the alarm regarding the Pensions
Corporate buy backs of their own shares (when they were bailed out from the last crash, instead of putting that money into manufacturing, they bought their own company shares to increase the value. (which are overvalued and fake)
Government Debt.
Inverted Yield Curve - Short term lending makes more return than long term
Bond market is horrible and investment grade "junk" bonds have increased exponentially. Bonds that have been downgraded to junk I should say.
Corporate Debt - Have to borrow money just to pay back the interest on money borrowed. Interest rates were so low and money so cheap they went out and racked up purchasing power in the form of low interest debt.  
Consumer Debt (3 times larger since the last crash)
Student Debt (largest in history)
Car loan industry (starting to experience substantial deliquencies) and because car companies are now in the finance game, what happens when people cannot pay in droves because the lending is not stricter like the housing lending is now.
Retail stores closing in mass
The devaluation of the dollar will be a huge one.  
We are now a global economy and when one thing gets affected, everything well.
As investors, we all need to be prudent to watching the importance of our money, especially when it is your personal money and not borrowed.
The question is more of, how long can the government keep printing money and propping up the economy to save it?  I think there is definitely more money to be made in this economy, especially because there will be a melt up.....BUT I think one of the best things investors can do right now is get your purchasing power in order for when that time comes.
FYI, the people that spoke in front of Congress and were laughed at by Congress regarding the housing crash for the last crash are sounding the alarm again for the new issues
only this time they are claiming 2008 will look like child's play compared to this one.  

@Jake Langley

Hey Jake, I cannot write my response right now because I am busy for the moment, but I have an idea of which direction you should go. I would not refi and get into a bad front loaded interest bank product unless you have a exit strategy to pay it off. I live in Southern Highlands by the way.

@Fili Aguirre

Go to your county records site, put in the address or parcel number, and the tax record will show where taxes are being mailed to. That is the actual owner. Then just skip trace the address and owners info to get a phone number and then call.

That is all it takes. Easy peasy.

Chris

@Melanie Hartmann @Meggan Kaiser

Melanie, I hope you have done great in your journey.  I pray you have been blessed in abundance in your deals.  Thank you Meggan for giving those encouraging words to Melanie.  Even if wholesale deals have not happened over this past year (I don't know if they have), then put your name on lists as a cash buyer.  Have wholesalers send the deals that don't need as much rehab (5-10K cosmetic), get the funding for the deal, make sure the numbers make sense, close the deal yourself, and take it to retail.  Just pay the money costs and make even more money as the end buyer.  Continue failing forward toward your goals and be a blessing to others!