All Forum Posts by: Mike B.

Bruce I meant no disrespect, only to point out downturns are dependent on specific factors not perceived timelines or expectations of what a house "should" cost.  Presently, most evidence available suggests a continued rise in house prices in the near term for most markets.  That's all

From my experience the home building industry didn't really become standardized in any way until after WW2, so that homes built prior to that can vary wildly.  Homes of that age in my area tend to have stone foundations and many that I've seen have the joints crumbling which needs to be addressed. I'd also keep an eye out for how the house was framed.  One of mine is "balloon" framed, and while there's nothing wrong with that method per se, it led to some issues with sagging and bowing of walls, floors and headers.  Sometimes you can tell by noticing little gaps or separations at stairs, baseboard trim, door framing etc

@Alex Silang

For those stating: “we have to have a correction soon” or “we’re overdue for a correction” I would ask: Why? Is it written somewhere that the US housing market MUST have a correction every X years? And a correction by what measure? Home values dropping X percent? There’s no reason home prices cannot continue to rise for another X years 😂! In a sense I think it’s the wrong way to look at the problem, and it would make more sense to say: “Is downward pressure on my local housing market likely in the foreseeable future?” And for most markets the answer is surely “No”

@Randall Alan

I’m aware of these things….flipping is a job, not an investment. That’s why I was asking the OP to clarify her question

@Adrienne Binder

If you have a tidy sum to invest with and your goal is to have a healthy, passive income stream in ten years’ time why would you be focusing on starting a flipping business?

@Bill Brandt

Yeah I hear you….although I do appreciate the mind set episodes. They keep me motivated!

@Mike Schorah

I thought it was awful. I enjoyed some of the concepts in RDPD but I can barely listen to RK. His cartoonish description of teachers, commies, greenies, etc is like something out of junior high school. I also thought it was a terrible interview regardless of content. Seemed to me that Brandon and David weren’t quite sure what to do with him so they threw him softballs and countered with tepid responses. Compare this episode to Mike Becker’s/Chad Doty’s/Ken McElroys where they gave incredible content and value regarding in-depth MF investing if you’re looking for the real deal

@Carl Johnson

I think about this every time I hear about how areas of the southwest are exploding in terms of population

@Jackson Long

Jackson are you planning a forward or reverse exchange? For the latter the quotes I received were substantially higher. IIRC a reverse was 6-7k

Thank you all for your responses.  To elaborate a bit:  The plan would be to purchase a new, or near new teardrop (not a popup) camper to reduce the setup time, and which would be fully furnished for camping (dishes/towels/utensils etc).  The teardrops, in my opinion, are more "instagrammable" than your run of the mill pop up or tow behind.  In addition, they are light enough to be towed with a minivan or SUV which expands one's client base I would imagine.  From April-Nov I would keep it in our driveway so that a renter could show up, hook up, and off they go camping.  Then, when they bring it back I could go over everything, fix any issues, clean it, and re-rent.  Would likely be stored off-site during the winter months to avoid all the issues associated with cold weather.  Obviously this isn't passive income, but I like the idea of owning something "free and clear" for which I can see a healthy return