Since were speculating… - Posted by David Alexander
Posted by David Alexander on August 09, 2007 at 17:19:56:
couple thoughts… on a few of the points…
Fewer rental available as potential buyers stick with
renting…
The market has been flooded with houses and the houses that were thrown away… as people bought new are out there as rentals… the new builders are the ones that will experience the rest of the fallout… it’s taht cakewalk thing… and the music has stopped… So, my guess is there will be plenty of rentals for years to come.
Good time to buy and keep as rentals…
Exact opposite… you pickup your rentals… just as the market starts inching it’s way back to the good…
That way you poised to do a 1031 fairly quickly with a bigger gain in equity…
If you have a lease/option to ‘sell’, be prepared, that
people may not be able to close in a year or 2. But either count on them turning over or do a long-term lease option.
Actually, I think refi’s will be the proven way to go… In fact my slogan has always been we make it easy to get into a house… you make your payments on time and we can get your refi’ed. That is still working like a charm for me…
Due to high demand, rents are increasing…
Rent’s need to increase… but, I think it’ll be awhile…
Harder to find qualified buyers when you sell…
Sell with your own qualifications…
Harder to sell some notes. Note buyers more picky
Notebuyers in the last few years hired bankers… so, that’s not a way to fund… unless you grow your own…
But, I think the real thing is that all markets are becoming smaller and smaller… Not all of Texas… bad Dallas may be bad… and Austin may be booming…
And I think the way appraisals happen will have to change…
Back to what a person is willing to pay and what someone is willing to lend versus… banks crying fowl… and blaming fraud on everyone else to cover there tails…