All Forum Posts by: Marc Yun

Hi BP'ers, can anyone share their experience purchasing or attempting to purchase a REO from OneWest Bank (formerly Indymac)? I've read mixed reviews on the internet, couldn't find much here - any feedback would be great!

Thank you

Figured I'd update this post since it's official that Nevada will be the location for the gigafactory.  

Hi @Bill Sonzogni ,

I'm out on long island and did a rebuild last yr. cost to remove existing home & foundation of approx 2500sq house was ~25K...hope this helps. and I'd estimate cost to rebuild to be closer to $300/sq foot (with higher end finishes)

@Sant S. Congratulations on your first MF! I'd like to thank you for openly posting your deal here on BP, what a great site this is

I've been looking for MF in Jersey City as well, which area of JC is your property in? I've seen numbers fluctuate greatly depending on location and proximity to manhattan...

Congratulations @Darren Sager!

@Leonard Bradley - welcome to BP, I'm pretty new to this site as well but in the short time here I've found enormous amounts of great info. I also live in Long Island and work in NYC with interest in buy and hold

@Daniel Guillermo - where can we find info on the Melville REIA meet up? Thank you

Great news, can't wait!

Great topic - I'm reminded of Nouriel Roubini's prediction of the housing crash back in 07 (he recently said gold will crash to 1K, I don't think it'll go that far but what do I know?!). Indeed there are differences between today and back then in that anyone and everyone were getting mortgages since lenders didn't care about the borrower, they simply sold the mtgs to wall st who pooled them together to create leveraged debt products. New issuance in non agency mortgages is still very limited so the main culprit (in my opinion) of what drove the housing market bananas back then is absent today - we do have cheap money and quantitative easing which is helping drive the current home price appreciation - in my opinion, we won't nearly the same run up and we are still significantly below the peaks....having said that, most economists predict about 5% appreciation next yr and the yr after - and many feel that a correction may occur in the semi-near future (2-4yrs?) particularly as the Fed begins to step away from QE and raise rates...

I'm completely new to real estate investing and would really like to hear how some of you are setting yourselves for the next couple of years, particularly if you feel we'll continue to see appreciation for the next 2-3 years followed by a possible correction?

Hi Brandon, thanks for the warm welcome. I'm not set on what strategy fits me yet but MFs and small apts are interesting to me, buy and hold. I don't think whole sale/flipping would suit me well.

btw I love the podcasts, thanks for taking the time to put them together, very informative!

Hi all, new to BP....did younall meet up? Would be interested in any future meetings, I'm new and interested in MFs, thanks!