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peterb
ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
ParticipantI will say one thing, I follow Craigslist as a gauge for asking prices and number of available units. I have noticed a marked increase in rooms for rent within homes, “studios attached to homes” and a general lowering of rents all over CA. There’s a definite increase in density of people/unit of rental housing going on. Hence the lowering of rents as well. I think this is way more than a seasonal adjustment.
ParticipantHey, what about prop 13?!! CA property tax is way too low. Times are a changing. Anyone that thinks govt gives a damn about them is not thinking straight. They raise taxes in recessions because they want the money and they know some people still have some. It’s not logical, but niether are they. Look for more of it as the govt is now on the look out for more ways to collect.
Check the history books. Before the govt got involved in subsidizing home ownership, only about 25% of the population owned their own homes. Between tax deductions, cheap money and FNM and freddie, vet loans, etc… it made a huge difference.
ParticipantHey, what about prop 13?!! CA property tax is way too low. Times are a changing. Anyone that thinks govt gives a damn about them is not thinking straight. They raise taxes in recessions because they want the money and they know some people still have some. It’s not logical, but niether are they. Look for more of it as the govt is now on the look out for more ways to collect.
Check the history books. Before the govt got involved in subsidizing home ownership, only about 25% of the population owned their own homes. Between tax deductions, cheap money and FNM and freddie, vet loans, etc… it made a huge difference.
ParticipantHey, what about prop 13?!! CA property tax is way too low. Times are a changing. Anyone that thinks govt gives a damn about them is not thinking straight. They raise taxes in recessions because they want the money and they know some people still have some. It’s not logical, but niether are they. Look for more of it as the govt is now on the look out for more ways to collect.
Check the history books. Before the govt got involved in subsidizing home ownership, only about 25% of the population owned their own homes. Between tax deductions, cheap money and FNM and freddie, vet loans, etc… it made a huge difference.
ParticipantHey, what about prop 13?!! CA property tax is way too low. Times are a changing. Anyone that thinks govt gives a damn about them is not thinking straight. They raise taxes in recessions because they want the money and they know some people still have some. It’s not logical, but niether are they. Look for more of it as the govt is now on the look out for more ways to collect.
Check the history books. Before the govt got involved in subsidizing home ownership, only about 25% of the population owned their own homes. Between tax deductions, cheap money and FNM and freddie, vet loans, etc… it made a huge difference.
ParticipantHey, what about prop 13?!! CA property tax is way too low. Times are a changing. Anyone that thinks govt gives a damn about them is not thinking straight. They raise taxes in recessions because they want the money and they know some people still have some. It’s not logical, but niether are they. Look for more of it as the govt is now on the look out for more ways to collect.
Check the history books. Before the govt got involved in subsidizing home ownership, only about 25% of the population owned their own homes. Between tax deductions, cheap money and FNM and freddie, vet loans, etc… it made a huge difference.
ParticipantI’ve made very good money in RE. My bearish sentiment is only when the numbers or the trend stinks. The trend is against you right now. But if the numbers are good enough, you can beat the trend. If you can cash flow enough positive each month…you’ve got a fairly good cushion for future problems. Being a landlord is a WORLD unto itself. You’ve got your analysis down, so I’d start learning the tricks to being a LL, if I were you. A guy named Mike Cantu is the best I’ve seen. You may want to Google him to see if you can learn from him.
Again, I’d really sus out the market to make sure you can keep the unit occupied with reliable tenants for the next 5 years. Few people are good at being LL’s and the end-game is usually to sell the place at big profit. Some want to own free and clear and have a cash cow for decades. But that’s a real long-term strategy you may not be willing to live through.
ParticipantI’ve made very good money in RE. My bearish sentiment is only when the numbers or the trend stinks. The trend is against you right now. But if the numbers are good enough, you can beat the trend. If you can cash flow enough positive each month…you’ve got a fairly good cushion for future problems. Being a landlord is a WORLD unto itself. You’ve got your analysis down, so I’d start learning the tricks to being a LL, if I were you. A guy named Mike Cantu is the best I’ve seen. You may want to Google him to see if you can learn from him.
Again, I’d really sus out the market to make sure you can keep the unit occupied with reliable tenants for the next 5 years. Few people are good at being LL’s and the end-game is usually to sell the place at big profit. Some want to own free and clear and have a cash cow for decades. But that’s a real long-term strategy you may not be willing to live through.
ParticipantI’ve made very good money in RE. My bearish sentiment is only when the numbers or the trend stinks. The trend is against you right now. But if the numbers are good enough, you can beat the trend. If you can cash flow enough positive each month…you’ve got a fairly good cushion for future problems. Being a landlord is a WORLD unto itself. You’ve got your analysis down, so I’d start learning the tricks to being a LL, if I were you. A guy named Mike Cantu is the best I’ve seen. You may want to Google him to see if you can learn from him.
Again, I’d really sus out the market to make sure you can keep the unit occupied with reliable tenants for the next 5 years. Few people are good at being LL’s and the end-game is usually to sell the place at big profit. Some want to own free and clear and have a cash cow for decades. But that’s a real long-term strategy you may not be willing to live through.
ParticipantI’ve made very good money in RE. My bearish sentiment is only when the numbers or the trend stinks. The trend is against you right now. But if the numbers are good enough, you can beat the trend. If you can cash flow enough positive each month…you’ve got a fairly good cushion for future problems. Being a landlord is a WORLD unto itself. You’ve got your analysis down, so I’d start learning the tricks to being a LL, if I were you. A guy named Mike Cantu is the best I’ve seen. You may want to Google him to see if you can learn from him.
Again, I’d really sus out the market to make sure you can keep the unit occupied with reliable tenants for the next 5 years. Few people are good at being LL’s and the end-game is usually to sell the place at big profit. Some want to own free and clear and have a cash cow for decades. But that’s a real long-term strategy you may not be willing to live through.
ParticipantI’ve made very good money in RE. My bearish sentiment is only when the numbers or the trend stinks. The trend is against you right now. But if the numbers are good enough, you can beat the trend. If you can cash flow enough positive each month…you’ve got a fairly good cushion for future problems. Being a landlord is a WORLD unto itself. You’ve got your analysis down, so I’d start learning the tricks to being a LL, if I were you. A guy named Mike Cantu is the best I’ve seen. You may want to Google him to see if you can learn from him.
Again, I’d really sus out the market to make sure you can keep the unit occupied with reliable tenants for the next 5 years. Few people are good at being LL’s and the end-game is usually to sell the place at big profit. Some want to own free and clear and have a cash cow for decades. But that’s a real long-term strategy you may not be willing to live through.
ParticipantIf your numbers are right, go for it. But I’d do a test run on renting it out first. Perhaps ads in Craigslist for the amount and area…see how much interest it generates. And also take an honest look around at the local employment sensativity to more lay-offs.
I follow several very popular RE investor groups. All of them are doing exactly what you’re contemplating here. All over the country. NorCal, SoCal, Phoenix, Florida….
The only caveat is being a landlord and keeping a house rented out. A few empty months or FB tenants can ruin your ROI calculations as well as make your life not fun.
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