King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.
I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.
I didn’t suggest that anything is wrong with any creative financing.
I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.
In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.
When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.
There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)
I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.
There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.
I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.
The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.
