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All Forum Posts by: Mike Anderson

Mike Anderson has started 2 posts and replied 165 times.

Post: What resources do investors need right now?

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137
With the way things are going, i need good bourbon recommendations..

Post: Gas Stoves to be prohibited in New Builds - California

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

There is almost nothing I can read about in CA that would surprise me at this point. The people that remain i guess want this sort of government intervention and that cool, im glad to be in GA. It's amazing to me that anyone can look at anything the government says at this point and take any of it seriously. 

Post: interest rates going up?!

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137
Quote from @Karl B.:

"what are the best options in the real estate market even with high rate"

For those of us who have seen the writing on the wall, we've been stacking cash. In no time, interest rates will be up another 2-3 points and in most markets prices will fall, as will the level of competition. 

I agree with you. It's a math game at some point and people try to add emotion to numbers. Prices have to go down as interest rates go down. We are already seeing it.

Post: Rising interest rates

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137
I'd run the numbers off of current rates and even add a percentage point. Honestly don't see them coming down in for at least 24 months.

Post: Changes are coming and its not good news!

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

All of these sort of policies and approaches will happen in the usual suspected areas. People will end up leaving, and other people will martyr themselves in the name of "saving the whatever is trendy today".

The power grid is struggling to keep up as it is now, and without major investment in what will probably need to be nuclear plants simply no way to run this new all electric fantasy world people are talking about.

These decisions will show to be poor ones in the years ahead, but instead of making the right changes government will double down. As someone that grew up in MA and escaped shortly after turning 21 for the south i just hope the people that come don't try to push this same agenda here. 

Post: Inflation And The STR Market?

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

During an inflationary period owning hard assets is one of the best ways to offset the inflationary cycle. Rates will go up but your mortgage with a fixed rate mortgage will stay the same. So owning property is a good idea if you believe we are going into an inflationary period.

Post: Any Park City Vacation Rental Investors?

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

My in laws live in Park City, (actually just outside in hideout) we looked into it pretty heavily and it's really hard to make the numbers work up there in my opinion. 

Post: Does a mortgage shrink the bullseye?

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

If you have a property paid off, make sure you have a good umbrella policy, and toss property in an LLC. Thats it, i'm not sure why people spend so much time on these fairly obscure scenario's. The two things above should take take a handful of hours.

Post: Starting off as a Real Esate Agent

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137
Option 3. Knowledge is power, work for free if you have to to learn the ropes. The knowledge you will get is worth more than a paycheck right now. When i was in my mid 20's that is what I did.

Post: Short Term Rental - Day 1

Mike AndersonPosted
  • Rental Property Investor
  • Clayton, GA
  • Posts 168
  • Votes 137

The closest Costco to Western NC is 2 hours away. Target is almost 3 hours. In that area i'd either be ordering from Amazon or going to walmart. Walmart actually has some nicer end linen lines and many people have had success with them. There are a few places over the mountains in Eastern TN where you can buy wholesale linens as well. I recognize you can drive in the linens from Costco or Target but me personally i dont like my towels to be mismatched after utilizing them and restocking them so i dont want to always by and ship in or drive in. There are always close walmarts and Amazon ships anywhere. This keeps things consistent. There are multiple airbnb stocking lists on Amazon too. Might want to check those out. Curious what part of WNC you are in specifically.