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Jan 28, 2023
2:48
:36
pm
blackandblue
Truly Addicted User
I bought three rentals in October-December.
The worst possible timing. But with the rent payments, they still cash flow.
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blackandblue
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blackandblue
Joined
Aug 12, 2011
Last login
May 2, 2024
Total posts
24,543 (2,577 FO)
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Messages
Author
Time
Seeing posts about people being underwater on their homes already after buying a year ago, but if their monthly payments
Mike Honcho
All-American
1/28/23 2:04pm
Nothing really matters until you try and sell.
mudpupper
1/28/23 2:07pm
I'm more concerned about the car industry. That is the real cliff.
ordinary tri guy
1/28/23 2:08pm
You’re right. If they are underwater after a decade, that’s a concern.
All-American
1/28/23 2:09pm
The reason it’s concerning for them is they can’t go get the HELOC.
dwhitebud
1/28/23 2:14pm
Same concept with other investments. You can still make money buying high and
JAGA97
1/28/23 2:15pm
Are the ones who are underwater I’m assuming don’t have
JohnnyC
1/28/23 2:19pm
Keep in mind RE peaks in the summer months and the market cools down after
blackandblue
1/28/23 2:22pm
In a regular market condition. Prices should go up some this summer?
JohnnyC
1/28/23 2:26pm
Im not a RE expert. But movement is always higher in the spring/summer.
blackandblue
1/28/23 2:47pm
This is correct. If prices fall in the spring it will continue into the fall.
dwhitebud
1/28/23 4:28pm
Regular yes but with rates high they won't go up this summer
johnnybyu
1/28/23 4:55pm
Gotta make those payments. At least in a rental you can walk away and live with
777
1/28/23 2:23pm
That shouldn't be a problem with current rental rates in most places. If you
JAGA97
1/28/23 2:33pm
That's true.
777
1/28/23 2:37pm
Love with parents what adult thinks that’s an option?
germ1
1/28/23 2:33pm
52% of them apparently...
777
1/28/23 2:36pm
I bought three rentals in October-December.
blackandblue
1/28/23 2:48pm
There are a ton of apartment/condo/townhome units that are going to flood the
kotacoug
1/28/23 4:31pm
Location is key.
blackandblue
1/28/23 4:41pm
I’ve got a rental house just a 5 min walk to BYU so hopefully that should
kotacoug
1/28/23 4:46pm
Maybe but maybe not.
rad dawg
1/28/23 4:47pm
I can not believe how many units I see in construction both here in PHX and
kotacoug
1/28/23 4:51pm
1.7 million apartment units under construction nationwide.
rad dawg
1/28/23 4:57pm
At least in our area, the new apartments and townhomes are crazy high rent.
blackandblue
1/28/23 5:00pm
I expect that will remain the case for a little while.
rad dawg
1/28/23 5:18pm
Yeah, nothing is for sure.
blackandblue
1/28/23 4:56pm
I don’t think condos/apartments are as close of a substitute as some people assume. Families want SFHs. Townhomes are
Mike Honcho
1/28/23 5:00pm
Condos/townhomes are the new SFH. Going forward I think this will be the norm
kotacoug
1/28/23 5:11pm
More common is multigenerational SFH. Two of ours have this.
blackandblue
1/28/23 5:14pm
Maybe, I doubt it, but even if so that probably means SFHs still aren’t impacted by condo rental prices
Mike Honcho
1/28/23 5:15pm
That’s what I hope.
kotacoug
1/28/23 5:46pm
This all depends on the SFH. It has to have the amenities. I've seen many young
777
1/28/23 6:07pm
Its a big IF and only one factor of the equation. My anecdotal experience so far
rad dawg
1/28/23 3:05pm
Inflation should overcome downward pressure on real estate in the next 10 years.
johnnybyu
1/28/23 4:46pm
Yup. Inflation could be the one thing that throws everything off.
rad dawg
1/28/23 6:19pm
It only matters if they need to move
Swish
1/28/23 4:07pm
Agreed. Real estate is forging in the long run. I had some rentals that went
johnnybyu
1/28/23 4:42pm
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