All Forum Posts by: Michael Haynes

Hello Joseph Fenner, Cut to the chase. You can get all the Data with Charts and Maps and City by City numbers for free with Nick at ReventureConsulting.com on Youtube. Go to his site and you can pay a little to Target any questions you may still have with Nick's research and advice. Try "Colorado Market Forecast for 2024" Youtube.

Hello Trace Adams in Denver. Your idea is a formula for disaster. The Markets are are at the highs, selling off. Go watch Reventure Consulting youtube video, "Colorado Market Forecast for 2024." I had Rentals for 30 years in South Tampa and now live outside of the mess in Valrico, Florida. You need to learn how to Buy your First Home before you do anything else. Historically, Single Family Homes to Rent, never made any Money. You need to learn the IRS Publication 523, on Selling a Residence. You can live in your Home for 2 out of 5 years and when you Sell it is Tax-free up to $250,000. During that time you find another fixer-upper to Rent. When you sell your Home you move into your Rental and just do it again. Got it? 

Hello Gustavo Tellez. You always want to find the quickest way to get a Tenant problem resolved. Time is Money and Tenants are a Pain. If the Law and Rules and Lease do not get them to agree to move, you can always Offer to Buy the Keys! In a pinch offer to Pay for a Moving Truck and come over to load the Deadbeats out as soon as possible to get on with your Business. 

Hello John Fairchild in WA. Your at the Top of the Market. Think! It's only down from here or at least slow down to stagflation. I invest in Monthly T-bills. This month at 5.23%. Take $500K and put it in T-bills and relax. It took me a year of watching all the offerings every day for a year here in Hillsborough County, Florida to find my next property. I paid all Cash just before Covid and it appreciated $140,000 one year later.

Hello Jay Lutz in...? Your not in Florida? There are lots of Youtube videos that go through the details for Inspections and Reserve Requirements here. Especially on North Miami Beach and the West Coast of Florida. It all comes down to 50 or more years of no Inspections with Deferred Maintenance by the criminal HOA's which now have to be paid for in short time with Zero Money in the Reserve Accounts. One Condo had their Insurance go up $100,000 this year. Special Assessments of tens of thousands against each Owner to do the upgrades and repairs or they cancel the Insurance or Condemn the Tower. Fixed Income Owner's with no out having to Sell right now to get out of the way of the train wreck...and on and on. Check out Google News every morning for the latest abuses and thefts by HOA's across the country. My lawyer says that HOA's are the most powerful thing in the US and the most corrupt and he is on his Board in S. Tampa.

Hello James Emerson in Europe? The worst thing in the world is to be an Absentee Owner. The second worst is to buy at the Top of the Market. Save your energy. Keep your JOB. You can buy a house in Italy for $1. Check out the youtube videos. 

Hello Gustavo Tellez in Philli. Your saying you really don't know if you can raise the rent and you just bought the property? Ding Dong! First thing is to know the local Law based on the Rental Lease that you hold. Every day I wake up to look at Google News and there is at least one article about Foreclosure, or Fixed Income Tenant can't stay where they have been from before the Covid or the Widow who has lived in the 2/1 house for 50 years cannot pay the increases in Property Tax, Home Owner's Insurance, Lights, Water and everything else. Remember, we just came out of up to THREE YEARS of Rent Moratorium. I think in Oakland CA, they still have renters not paying and owners not being paid with new extensions on the Moratoriums. Your Renter may have not paid for two years and now had to start at the rate from three years ago...insane stuff. 

Hello Mo Nueman. Where do you live? It sounds like you are starting out except for "sometimes I need some boots on the ground to help me with them." Are you sure you really want to be "An Absentee Owner?" In my experience, that is a Big Mistake. Some BP members with Money and Experience can make it work. Robert Kiyosaki from "Rich Dad, Poor Dad" said that he ended up with 33,000 Apartments four years ago and was Selling Everything. All of his youtube videos since then have touted Gold, Silver and Bitcoin. He just got a Divorce and his wife said she can do it on her own and don't need him no more. You should watch Nick's youtube video, "The Florida Delusion is Over (the Housing Crash Will Get Worse."

Hello Caleb Rehg. You did not say where you live? I mean are you next to a School somewhere? On a list of "Tenants to Rent to" I would list Students as next to last. You don't know what your doing. They have No Money. The new ones all went Woke. If it's guys, then, you end up with a Frat House and beer etc. If it's gals, you have hungry boyfriends honking horns at midnight trying to get a date. Some smart BP members have targeted Medical Colleges because they have daddy's Money. The parents will co-sign the lease and pay Direct Deposit with First, Last and the only guarantee you have in Rentals, a Deposit. Medical students have to study 24/7 to get through the course and get to work. What you missed would take a lifetime to teach you. 

Hello Jackie Mcmorrow in NY. The only thing you said that made any sense is that you want to "purchase your Primary Residence." You need to read the IRS Publication 523 that deals with the Sale of a Residence. It says that if you live in your Home for 2 out of 5 years that you can Sell it for up to $250,000 Tax-free. During that time you find another place that you would live in. Fix it up to Rent until you Sell you Home and move into your Rental. That's all you need to do for your Tax-free Real Estate Money Machine. Learn how to Daytrade Futures on your laptop for your "Gig work." Or drive for UBER.