News that Affects Your Most Prized Possession - Your Home
Buying real estate is like dating. 80% of what's available is complete and utter crap. Secret is wading through and kissing lots of frogs.
Is it okay to rent to friends or family? "I never rent to someone I love too much to evict."
Why pay cash for real estate? Borrow money now at 3.5% and when inflation hits 7%, you'll be paying off your mortgage with 50cent pieces.
28 million Americans are residential real estate investors: about the same number of Roth IRA account holders and Money Market shareholders.
Average American buys 5 homes in a lifetime.
When a property comes BACK on the market, it's rarely for something nefarious. 4/5 instances are because buyer couldn't get the loan.
Nothing more depressing than watching people point to various buildings and hearing them tell you what they "could have" bought them for.
There is no such thing as "upside in the rents". We have rent control in LA. Only "upside" is 3% a year.
"Rents are continuing to climb in LA and they're way above where they were even five years ago during the go-go times." 24 months of increases.
Buy a home that works for you. "I've just realized that I'm working my fingers to the bone to provide a home for my furniture."
Interest rates have long cycles. Most investors will see three bottoms in their entire lives, and only one as an adult ready to invest.
Real estate deals are an urban legend. Any home for sale can be seen by the entire world. It's an auction system and the most $ gets it.
Buy something that is wanted by others. Silver Lake apartments come to mind. Las Vegas condos, not so much.
We find the house of our dreams when we stop obsessing about getting a deal.