Guest Posted April 16, 2020 Share Posted April 16, 2020 1 hour ago, DriftBusta said: Yup. I have a buddy who has a property he bought to flip down in Jupiter, and he might just have to take it in the ass on this one, because $1.2 million condos might not be real popular right now. Do you remember the late 80s? People bought condos for like 225 K, then the market ( dot Com ) tanked overnight, and they couldn't give the condos away?? 225 thou, and they were getting like 115 thou offers on them? Wow, did people take gas on condos then!!!! It took years for the market to come back. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted April 16, 2020 Share Posted April 16, 2020 8 hours ago, Anler said: they did similar here. I heard something about up to 1 year mortgage relief too? they are going to tack it on to the end of the term? That's what I heard, just sounds like kicking the can down the road. 8 hours ago, ArcticCrusher said: The smaller guys who are leveraged too much will get squeezed, like always. My brother and I were tempted to buy some more stuff, but our regular jobs got in the way, and I'm glad we didn't. It would put us in a precarious spot if shit started going bad. And from what AG is saying about the mortgage headaches, Im glad we don't need one right now. 8 hours ago, Ez ryder said: tenants are not the prob. I just don't like single family rentals . I guess 1 or 2 would be ok if that is all you had . just a lot more money to run a bunch single family every one has its own bills and it's own roof furnace h20 heater tax bill on and on . that is why imho 4 plex or larger only . but again if only dealing with 1 or 2 I get singel family sort of lol one of my customers prob over 90 units must be getting divorced or has a girlfriend he needs,to keep happy. having us do a kit and bath remodel in a mpls unit prob 90+ yrs old nice building but More headaches with the larger units, but the cash flow is pretty awesome. We have a 6 and 2 next door to each other. That one alone brings over 7 bills a month. And we're into it for pretty short money. 6 minutes ago, Polaris 550 said: Do you remember the late 80s? People bought condos for like 225 K, then the market ( dot Com ) tanked overnight, and they couldn't give the condos away?? 225 thou, and they were getting like 115 thou offers on them? Wow, did people take gas on condos then!!!! It took years for the market to come back. My timing has been good and bad with real estate. I'd love to grab something on a nice lake somewhere if prices drop. Quote Link to comment Share on other sites More sharing options...
J. Jackson Posted April 16, 2020 Share Posted April 16, 2020 Spoke with a lady in the Phoenix area today that said it is BOOMING there. Cali and upper midwest folk are moving there in droves. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 16, 2020 Share Posted April 16, 2020 31 minutes ago, DriftBusta said: That's what I heard, just sounds like kicking the can down the road. My brother and I were tempted to buy some more stuff, but our regular jobs got in the way, and I'm glad we didn't. It would put us in a precarious spot if shit started going bad. And from what AG is saying about the mortgage headaches, Im glad we don't need one right now. More headaches with the larger units, but the cash flow is pretty awesome. We have a 6 and 2 next door to each other. That one alone brings over 7 bills a month. And we're into it for pretty short money. My timing has been good and bad with real estate. I'd love to grab something on a nice lake somewhere if prices drop. Yeah, me too. However, from what I've noticed, Is that places on Winnepesaukee kind of kept their value. See, when you deal with rich fucks, when the markets drop, they are STILL RICH!!! Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted April 16, 2020 Share Posted April 16, 2020 31 minutes ago, J. Jackson said: Spoke with a lady in the Phoenix area today that said it is BOOMING there. Cali and upper midwest folk are moving there in droves. people have been moving to Phoenix in droves for decades . crazy boom . not sure why people want to live someplace that is in the triple digets 130 days a yr . but they say the same about MN cold 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 16, 2020 Share Posted April 16, 2020 1 hour ago, Polaris 550 said: Do you remember the late 80s? People bought condos for like 225 K, then the market ( dot Com ) tanked overnight, and they couldn't give the condos away?? 225 thou, and they were getting like 115 thou offers on them? Wow, did people take gas on condos then!!!! It took years for the market to come back. bought my first one for 44k in college. One of my fathers LO's had done the mortgage when it sold in the 80's. Condos always under perform SFH in a recession in suburban areas Quote Link to comment Share on other sites More sharing options...
Guest Posted April 16, 2020 Share Posted April 16, 2020 12 minutes ago, Angry ginger said: bought my first one for 44k in college. One of my fathers LO's had done the mortgage when it sold in the 80's. Condos always under perform SFH in a recession in suburban areas Yeah, ya' can lose your shirt on them……………..OVERNIGHT. Yes, you can make money on them, but you can really lose too. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 17, 2020 Share Posted April 17, 2020 17 minutes ago, Polaris 550 said: Yeah, ya' can lose your shirt on them……………..OVERNIGHT. Yes, you can make money on them, but you can really lose too. i made enough to pay off my student loans a few years later. next downturn i will buy 4-5 in a development that has on site rental management. Set it and forget it with 4k/mo in free cash flow. 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 17, 2020 Author Share Posted April 17, 2020 2 hours ago, Angry ginger said: i made enough to pay off my student loans a few years later. next downturn i will buy 4-5 in a development that has on site rental management. Set it and forget it with 4k/mo in free cash flow. That sounds like a great plan. I regret purchasing a pair of 4 plex units back in 1990 when I had a cash windfall. Hind sight. Quote Link to comment Share on other sites More sharing options...
FrankieJames7 Posted April 17, 2020 Share Posted April 17, 2020 21 hours ago, DriftBusta said: TIming works for me. I've been raising rents for the past year on everyone. Mostly just to piss moto off. rent me a house with a garage for 350 a month. then i can show u cod nerds down there how to drive a snowmachine 2 Quote Link to comment Share on other sites More sharing options...
FrankieJames7 Posted April 17, 2020 Share Posted April 17, 2020 16 hours ago, snoughnut said: STFU you brain dead mongrol, I'd rather see the little guy get some help rather than some rich cocksuckers who don't need it. this is the only post you've ever written that has credibility. good job, go get a chocolate milk from the fridge, u earned it Quote Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2020 Share Posted April 17, 2020 21 hours ago, snoughnut said: STFU you brain dead mongrol, I'd rather see the little guy get some help rather than some rich cocksuckers who don't need it. What's your TOTAL NET WORTH, bitch???? Can your ass, cash the checks your mouth is writing? Quote Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2020 Share Posted April 17, 2020 5 hours ago, FrankieJames7 said: this is the only post you've ever written that has credibility. good job, go get a chocolate milk from the fridge, u earned it I make more in one day, than you and your new BLOW-BUDDY, Snoughnuts, make all year. So STFU!!! Two little homos shootin' their broke-ass mouths off. FUCK OFF!!!! Quote Link to comment Share on other sites More sharing options...
snoughnut Posted April 17, 2020 Share Posted April 17, 2020 5 minutes ago, Polaris 550 said: What's your TOTAL NET WORTH, bitch???? Can your ass, cash the checks your mouth is writing? TNW has nothing to do with the fact that you're a brain dead mongrol. I'd flick you like the booger you are. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2020 Share Posted April 17, 2020 2 minutes ago, snoughnut said: TNW has nothing to do with the fact that you're a brain dead mongrol. I'd flick you like the booger you are. Yup, just like I thought, big mouth, no balls. By the way, you dumb fuck, MONGREL is spelled with a " E ". Quote Link to comment Share on other sites More sharing options...
snoughnut Posted April 17, 2020 Share Posted April 17, 2020 7 minutes ago, Polaris 550 said: Yup, just like I thought, big mouth, no balls. By the way, you dumb fuck, MONGREL is spelled with a " E ". Oh no, the spelling police. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2020 Share Posted April 17, 2020 1 minute ago, snoughnut said: Oh no, the spelling police. Why don't ya' go hang with your new Buddy, Frankie? You can sell your .338 Win Mag for meth money, and get high for a few days, and laugh how much you hate Znotty!! Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted April 17, 2020 Gold Member Share Posted April 17, 2020 27 minutes ago, Polaris 550 said: I make more in one day, than you and your new BLOW-BUDDY, Snoughnuts, make all year. So STFU!!! Two little homos shootin' their broke-ass mouths off. FUCK OFF!!!! Bragging again Mr Trump? Quote Link to comment Share on other sites More sharing options...
Guest Posted April 17, 2020 Share Posted April 17, 2020 1 minute ago, Stephen Hawking said: Bragging again Mr Trump? No, just telling' the troof. Quote Link to comment Share on other sites More sharing options...
The One Posted April 17, 2020 Share Posted April 17, 2020 7 hours ago, Polaris 550 said: No, just telling' the troof. Nope , LIES !! Quote Link to comment Share on other sites More sharing options...
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