All Forum Posts by: Stephen Stokes

do you have data on rents? 

@Chris Schorre who put on the deed restrictions and who knows about them?

@Nathan G.

I am very interested in this topic and always happy to connect with other investors.

Hello to my fellow landlords out there. Self managed or not you should probably make sure that either you or your property manager is notifying your tenants about the preventative maintenance that can end up saving you and your tenants a bundle of money and headaches.

To that end, I have sent the following note to all of my tenants and included the link that was provided today by the City of Austin.

"Weather forecasts show extreme temperatures coming throughout the next few days. Please review the following information from the city and prepare accordingly. Please take this very seriously.

https://www.austintexas.gov/de..." 

@Costin I. Refreshing to see someone else that understands the “greater fool” strategy does not always pan out but it works until it doesn’t right? I am always reminded by Warren Buffet quote “ be greedy when others are fearful and fearful when others are greedy”. That said, I am focused on buying distressed properties from distressed sellers. They are few and far in between right now because of the market hype due to extremely inflated bonds (low interest rates) and government moratoriums on evictions and foreclosures but those conditions cannot go on forever. If you buy a deeply discounted property, it does not really matter all that that much what the market does but if you are buying close to market... when markets go down they take you with it! In 2011 I was in such a rush to buy as much as I could afford because it was a buyers market and I just knew it would not last forever. So there is always a time and place for everything. Buying at market prices in a buyers market is not exactly a bad thing but buying at market prices in a sellers market....not so sure that’s a great long term strategy.

Will a buyers market ever exist again in Austin? Of course it will. But no one has a crystal ball and can say when that change will occur. I don’t care how attractive Austin is, if interest rates go up significantly we are in for a rude awakening.

Be diligent and remember patience.

@David Ivy always love hearing your analysis. Do you have same on rents and small multi-fam?

What is it that Warren Buffett likes to say? Greedy when others are fearful and fearful when others are greedy. Sounds like a lot of greed in the market today.

Giddy Up! I have a SFR in that neighborhood!

@Edwin Sequeira I am having the same issue securing a HELOC on my primary. Let me know if you ever find a solution but I have called pretty much every bank in town asking them and the appetite for risk is just not there right now.

@Kamrava Pirouz suggest to listen to what @Joe Scaparra is trying to tell you. He has very valid points all around.