Forum Replies Created
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AuthorPosts
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temeculaguy
ParticipantSome of it is brand loyalty, some things stick with people. I have six female family members and four of them drive Honda odysseys, not because they want to impress anyone but because it isn’t their first Honda, some of them have had more than 3 hondas over the past 20 years and have never been dissapointed. They are fearful of hyundai’s because years ago they were crap, it will take a while for it to settle in and for some people that are older it never will. I think that new flagship hyundai sedan (cant remember the name) is cool, but once someone breaks 50, they like to go with what they know and trust, which explains why buick can still sell cars to the elderly. My mother has driven a honda since the 1980’s, I’m not sure she will ever change brands, no matter what the facts are.
temeculaguy
ParticipantSome of it is brand loyalty, some things stick with people. I have six female family members and four of them drive Honda odysseys, not because they want to impress anyone but because it isn’t their first Honda, some of them have had more than 3 hondas over the past 20 years and have never been dissapointed. They are fearful of hyundai’s because years ago they were crap, it will take a while for it to settle in and for some people that are older it never will. I think that new flagship hyundai sedan (cant remember the name) is cool, but once someone breaks 50, they like to go with what they know and trust, which explains why buick can still sell cars to the elderly. My mother has driven a honda since the 1980’s, I’m not sure she will ever change brands, no matter what the facts are.
temeculaguy
ParticipantSome of it is brand loyalty, some things stick with people. I have six female family members and four of them drive Honda odysseys, not because they want to impress anyone but because it isn’t their first Honda, some of them have had more than 3 hondas over the past 20 years and have never been dissapointed. They are fearful of hyundai’s because years ago they were crap, it will take a while for it to settle in and for some people that are older it never will. I think that new flagship hyundai sedan (cant remember the name) is cool, but once someone breaks 50, they like to go with what they know and trust, which explains why buick can still sell cars to the elderly. My mother has driven a honda since the 1980’s, I’m not sure she will ever change brands, no matter what the facts are.
temeculaguy
ParticipantA 3 year lease for a residential rental? Never heard of such a thing. Caveat Emptor. Or as Ben Franklin once said “A fool and his money will soon part ways.”
My apologies, your friend is probably a nice person, jokes at his/her expense are not warranted, but funny nonetheless. Really, a 3 year lease?
temeculaguy
ParticipantA 3 year lease for a residential rental? Never heard of such a thing. Caveat Emptor. Or as Ben Franklin once said “A fool and his money will soon part ways.”
My apologies, your friend is probably a nice person, jokes at his/her expense are not warranted, but funny nonetheless. Really, a 3 year lease?
temeculaguy
ParticipantA 3 year lease for a residential rental? Never heard of such a thing. Caveat Emptor. Or as Ben Franklin once said “A fool and his money will soon part ways.”
My apologies, your friend is probably a nice person, jokes at his/her expense are not warranted, but funny nonetheless. Really, a 3 year lease?
temeculaguy
ParticipantA 3 year lease for a residential rental? Never heard of such a thing. Caveat Emptor. Or as Ben Franklin once said “A fool and his money will soon part ways.”
My apologies, your friend is probably a nice person, jokes at his/her expense are not warranted, but funny nonetheless. Really, a 3 year lease?
temeculaguy
ParticipantA 3 year lease for a residential rental? Never heard of such a thing. Caveat Emptor. Or as Ben Franklin once said “A fool and his money will soon part ways.”
My apologies, your friend is probably a nice person, jokes at his/her expense are not warranted, but funny nonetheless. Really, a 3 year lease?
temeculaguy
Participant[quote=peterb]Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents. [/quote]
Peter, you are one of the most bearish posters and you have to admit that there are many investors looking into taking advantage of the public’s fears. I’ve taken your advice lately and looked into some of the websites you mentioned a while back. The “buy” mode that investors are in is exactly the floor I was referring to, they want the scardeycats of the world to be scared and they will gladly rent to them now and sell to them in a few years. I’m holding off for now on my rental unit plans but I can say that some markets are more ripe than others, especially here. I have two relatives in escrow for rental untis with a 40% cash flow cushion, trying to stay under the 150k mark and only looking at stuff well below 100x rent multiplier, specifically 70x or 80x. I can;t say that they are wrong. These are people with no mortgages, who pay cash for rentals, smart people, people in the game for many cycles, people I respect and people that can buy and sell me many times over. Everytime I call them, they are busy buying another property. I’m left with the belief that in the next two years, the smart money goes “all in” and the scared money curls up in the fetal position on the floor and cries.
temeculaguy
Participant[quote=peterb]Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents. [/quote]
Peter, you are one of the most bearish posters and you have to admit that there are many investors looking into taking advantage of the public’s fears. I’ve taken your advice lately and looked into some of the websites you mentioned a while back. The “buy” mode that investors are in is exactly the floor I was referring to, they want the scardeycats of the world to be scared and they will gladly rent to them now and sell to them in a few years. I’m holding off for now on my rental unit plans but I can say that some markets are more ripe than others, especially here. I have two relatives in escrow for rental untis with a 40% cash flow cushion, trying to stay under the 150k mark and only looking at stuff well below 100x rent multiplier, specifically 70x or 80x. I can;t say that they are wrong. These are people with no mortgages, who pay cash for rentals, smart people, people in the game for many cycles, people I respect and people that can buy and sell me many times over. Everytime I call them, they are busy buying another property. I’m left with the belief that in the next two years, the smart money goes “all in” and the scared money curls up in the fetal position on the floor and cries.
temeculaguy
Participant[quote=peterb]Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents. [/quote]
Peter, you are one of the most bearish posters and you have to admit that there are many investors looking into taking advantage of the public’s fears. I’ve taken your advice lately and looked into some of the websites you mentioned a while back. The “buy” mode that investors are in is exactly the floor I was referring to, they want the scardeycats of the world to be scared and they will gladly rent to them now and sell to them in a few years. I’m holding off for now on my rental unit plans but I can say that some markets are more ripe than others, especially here. I have two relatives in escrow for rental untis with a 40% cash flow cushion, trying to stay under the 150k mark and only looking at stuff well below 100x rent multiplier, specifically 70x or 80x. I can;t say that they are wrong. These are people with no mortgages, who pay cash for rentals, smart people, people in the game for many cycles, people I respect and people that can buy and sell me many times over. Everytime I call them, they are busy buying another property. I’m left with the belief that in the next two years, the smart money goes “all in” and the scared money curls up in the fetal position on the floor and cries.
temeculaguy
Participant[quote=peterb]Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents. [/quote]
Peter, you are one of the most bearish posters and you have to admit that there are many investors looking into taking advantage of the public’s fears. I’ve taken your advice lately and looked into some of the websites you mentioned a while back. The “buy” mode that investors are in is exactly the floor I was referring to, they want the scardeycats of the world to be scared and they will gladly rent to them now and sell to them in a few years. I’m holding off for now on my rental unit plans but I can say that some markets are more ripe than others, especially here. I have two relatives in escrow for rental untis with a 40% cash flow cushion, trying to stay under the 150k mark and only looking at stuff well below 100x rent multiplier, specifically 70x or 80x. I can;t say that they are wrong. These are people with no mortgages, who pay cash for rentals, smart people, people in the game for many cycles, people I respect and people that can buy and sell me many times over. Everytime I call them, they are busy buying another property. I’m left with the belief that in the next two years, the smart money goes “all in” and the scared money curls up in the fetal position on the floor and cries.
temeculaguy
Participant[quote=peterb]Consensus on this site may seem fairly negative but the residential RE investor world is not. I follow several RE investor blogs and groups that actually meet in person on a regular basis…they’re very much in a “buy” mode. I attended a meeting last week that was standing room only for about 300 people. I was on a conference call about 3 weeks ago that had 150 people on it. The message and the thought was very much about scooping up the $150K to $250K homes as rental units. And from what I could gather, with relatively low down payment loans. The numbers dont leave a lot of room for staying cash flow positive if they have to lower rents. [/quote]
Peter, you are one of the most bearish posters and you have to admit that there are many investors looking into taking advantage of the public’s fears. I’ve taken your advice lately and looked into some of the websites you mentioned a while back. The “buy” mode that investors are in is exactly the floor I was referring to, they want the scardeycats of the world to be scared and they will gladly rent to them now and sell to them in a few years. I’m holding off for now on my rental unit plans but I can say that some markets are more ripe than others, especially here. I have two relatives in escrow for rental untis with a 40% cash flow cushion, trying to stay under the 150k mark and only looking at stuff well below 100x rent multiplier, specifically 70x or 80x. I can;t say that they are wrong. These are people with no mortgages, who pay cash for rentals, smart people, people in the game for many cycles, people I respect and people that can buy and sell me many times over. Everytime I call them, they are busy buying another property. I’m left with the belief that in the next two years, the smart money goes “all in” and the scared money curls up in the fetal position on the floor and cries.
temeculaguy
Participant[quote=aa]A question for temeculaguy, where did you find information about the houses on your street? I know I can find the sales history of the houses online, but where to find the mortgage information to see if the owners are behind the payments? Thanks
[/quote]A combination of things, let me first say that it helps out be somewhat obsessive and refuse to take your medication. This only applies to my hood, but it is possible to find it in yours, I have only needed my info so I only learned it, yours may vary.
Start by finding a g.i.s. website, temecula has one. You can look at plotmaps for the whole area, zoom to lots and get the name of the owner and parcel number for every lot. You can use zillow but it is often wrong. Then it’s off to the tax assessor’s site. With parcel number you can see their tax bill and if they are behind (that is a huge hint of distress, if you miss payments, your escrow account wont pay the taxes), this comes before a nod usually. From the riverside county website you can run a grantee search, using the name you found on the gis, you can see how many refi’s, liens, nod’s, nots, lawsuits, whatever and you can buy the docs for two bucks, I have never ordered the docs, I’ve learned to interpret the entries. You can also go to the riverside superior court website, run a master name search from any of the courts (i usually choose civil) and see if their creditors are filing suits or collections against them, you can also see pending divorces, etc. more hints of distress. For fun, run their criminal record as well on the criminal court public access database, everything including tickets are there, just nice to know if you live there or plan to live there. Also check redfin weekly and see what is recently listed and recently reduced in your particular zip, over time you will learn the streets in your neighborhood and can focus on them alone, some listings come up and are in escrow before the sign gets installed. You can also drink with and make friends with someone with access to the mls, to see what is in escrow in case you missed it or just b.s. your way at open houses to get more intel. And lastly, talking with the neighbors, especially when alcohol is involved can yield some info, although I’ve found that to be the least reliable.
So there you have it, there are a few more tricks, I could link the sites but they are specific to my area, you will have to find the ones that work for yours. it’s not easy but you can perform and informational enema on anyone and any property without paying a fee or breaking any privacy laws.
See, I told you I was nuts. And after you become a data miner it will invade other parts of your life, you’ll run the info on your kids friends, their parents, people you are dating, etc.
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