All Forum Posts by: Russell Brazil
Russell Brazil has started 177 posts and replied 16824 times.
Post: Is low credit score acceptable?
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Lawsuits dont affect credit scores
Post: Lead Hazard Control Order not disclosed by Seller
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How did they answer Question H on the Ohio Disclosure Form?
Post: Asking Rents Fall for Third Month in a Row
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Quote from @Ken M.:
Quote from @Russell Brazil:
Quote from @Ken M.:
Asking Rents Fall for Third Month in a Row
In Austin, TX, the median asking rent dropped 8.8% year over year to $1,385 in May—the lowest level since February 2021 and $414 below the August 2023 record high. That’s the largest decline in percentage terms among the 44 major CBSAs Redfin analyzed. Next came Minneapolis (-6.3%), Columbus, OH (-3.5%), Nashville (-3.4%) and Portland, OR (-3.4%).
Asking Rents Hit Record High in Four U.S. Metros
In Cincinnati, the median asking rent rose 7.4% year over year to a record $1,460 in May—the largest increase among the 44 CBSAs Redfin analyzed. The second largest gain was in Tampa, FL (4.2%), followed by St. Louis (4%), Pittsburgh (3.5%) and Birmingham, AL (2.4%).
Aside from Cincinnati, three metros saw rents hit a record high in May: Chicago (up 1.9% Y/Y to $1,781), Memphis (1.9% to $1,274) and Washington, D.C. (2.4% to $2,104).
Yup, rents in DC have shot up dramatically since the start of the year. The Federal Governments return to office policy forced people who had moved away to move back to DC, and put huge upward pressure on rents.
Yeah you have to assume they are signing at least 1 year leases. So the demand side of sales should push up in 1-2 year range maybe.
Post: Asking Rents Fall for Third Month in a Row
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Quote from @Ken M.:
Asking Rents Fall for Third Month in a Row
In Austin, TX, the median asking rent dropped 8.8% year over year to $1,385 in May—the lowest level since February 2021 and $414 below the August 2023 record high. That’s the largest decline in percentage terms among the 44 major CBSAs Redfin analyzed. Next came Minneapolis (-6.3%), Columbus, OH (-3.5%), Nashville (-3.4%) and Portland, OR (-3.4%).
Asking Rents Hit Record High in Four U.S. Metros
In Cincinnati, the median asking rent rose 7.4% year over year to a record $1,460 in May—the largest increase among the 44 CBSAs Redfin analyzed. The second largest gain was in Tampa, FL (4.2%), followed by St. Louis (4%), Pittsburgh (3.5%) and Birmingham, AL (2.4%).
Aside from Cincinnati, three metros saw rents hit a record high in May: Chicago (up 1.9% Y/Y to $1,781), Memphis (1.9% to $1,274) and Washington, D.C. (2.4% to $2,104).
Yup, rents in DC have shot up dramatically since the start of the year. The Federal Governments return to office policy forced people who had moved away to move back to DC, and put huge upward pressure on rents.
Post: [Calc Review] Help me analyze this deal
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Quote from @Robert Shepard:
*This link comes directly from our calculators, based on information input by the member who posted.
Post: My house flip won't sell
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I looked up the listing. I didnt deep dive into it, but a few things stuck out to me.
1) Your photos are terrible.
2) You have no garage while a quick glance shows all the homes in this price range in that neighborhood have garages. So maybe you're mispriced.
3) Pricing at $709k initially was a mistake. If you're close to the century mark in pricing in a hot market like Nova, just should.have been $699k off the bat to catch the algorithm. (Thats if even $699k was the correct price, which it might not be due to lack of garage).
Post: Federal Layoffs Effect? - 1,633 New Listings In D.C. Area Last Week
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Quote from @James Hamling:
@Russell Brazil Ken seems to infer the sky is falling in D.C. area, is it?
Metro area has 2.4 months of inventory. That's higher than a year ago, but by no means a high number. Comparing to earlier in the year doesn't really reveal much due to seasonality, we are at the end of the Spring selling season.
Montgomery County and Fairfax County, the 2 largest population centers in the metro area have 2, and 1.7 months of inventory.
Post: When to House Hack
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Quote from @Anthony DelVecchio:
I currently live in Virginia, but do not see myself here long term. I want to move to North Carolina or Florida within the next year (depending on where I can land a job). When should I start House hacking? I hear some people say you need to live in an area for a year or so to get the feel of it before you purchase a property.
Time in the market is the #1 determinanent of building wealth. So sooner the better.
Post: Calculating ARV for Fix n Flip in current DC market?
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Quote from @Chris Nerio:
I am currenlty looking for my 2nd flip in DC, 3rd flip total. With relatively little experience with a market trending down, I wanted to get some insight into how other flippers are mitigating their risk in current DC market conditions. Some questions I have are:
1. If you use the 70% rule, are you using 65% or 60% rule now for example? Is this dependent on certain data points? If so what data?
2. What data are you considering more now other than just comps to come up with ARV? More DOM? Lower ARV in general, for example, house just sold for $500k in May '25, how much lower will you lower yours, if any, taking into account DOM are increasing, price cuts, etc?
3. Is any of this even relevant because I should just target zipcodes/neighborhoods that match my buyers box and show homes are still moving? The concern with this is that I may be priced out of these neighborhoods
Appreciate the response, thank you!
Percentage rules don't matter. Look at actual profit. Most flippers in DC are willing to take a $50-60k profit on properties around or under $1 million.
Post: Prices don’t make sense in Chicago?
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Quote from @Sean McKee:
Quote from @Russell Brazil:
Break even at 20% would be a dream in the major metro areas on the coasts. Takes 45% in most of those cities to break even.
Do you mean 20% down payment?
Yes