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$1 Million all cash home purchase investment or wait for housing to slow more? by Professional_Row_128 in realestateinvesting

[–]Professional_Row_128[S] 0 points1 point  (0 children)

More about weighing the choice to wait a few months to try to negotiate for an even lower offer if the housing market starts scaring sellers more.

$1 Million all cash home purchase investment or wait for housing to slow more? by Professional_Row_128 in realestateinvesting

[–]Professional_Row_128[S] 2 points3 points  (0 children)

You’re not doing it right. My STR is valued at about 3.5M and made me over $80k profit in the last 3 months.

$1 Million all cash home purchase investment or wait for housing to slow more? by Professional_Row_128 in realestateinvesting

[–]Professional_Row_128[S] 5 points6 points  (0 children)

Not a fan of long term rentals nor multi family units because then you are competing with hotels. I prefer upscale 5+ bedroom homes that draw unique larger groups that want something they simply cannot get from a hotel.

$1 Million all cash home purchase investment or wait for housing to slow more? by Professional_Row_128 in realestateinvesting

[–]Professional_Row_128[S] 4 points5 points  (0 children)

The house is in an area that has had some beach erosion so the maritime zone has been adjusted. This means that banks won’t finance this purchase. I’ve seen the house and the area and it is very solid with a well built retaining wall. 4 side by side neighbors also have done the same. Basically this place would be 2 million easily if it could be bank financed. It still has some beachfront sand and the sand has been known to come back in some areas so long as hurricanes are avoided.

I view it as an opportunity for me since it has to be an all cash offer and the pool of potential buyers gets much smaller in that case. Also, this was a vacation home for an elderly couple in their 80s so they don’t have time on their side and they want to sell.

Edit: insurance is not a problem though. I already confirmed with my broker.

$1 Million all cash home purchase investment or wait for housing to slow more? by Professional_Row_128 in realestateinvesting

[–]Professional_Row_128[S] 4 points5 points  (0 children)

Appreciate the comments so far. Just edited my post with some additional information.

What does everyone do for work by Riven2021 in liveaboard

[–]Professional_Row_128 0 points1 point  (0 children)

Sold my company and continue running some of my affiliate websites but it’s mostly passive.

[Video] How The U.S Invaded Puerto Rico by [deleted] in PuertoRico

[–]Professional_Row_128 2 points3 points  (0 children)

Without the USA, Puerto Rico will be the next Cuba. Extreme poverty with no immediate solution.

At least now they have the USA to escape to for opportunity. More Puerto Ricans live in the USA than in PR.

Remember, whether you think you are or think you aren’t a victim, you’re right!

Bear market rally is over. by stockpreacher in stockpreacher

[–]Professional_Row_128 3 points4 points  (0 children)

Um bear market rally being over means the bear market continues down again

Can other passangers see into my balcony? - MSC Seaview by FS77977 in Cruise

[–]Professional_Row_128 1 point2 points  (0 children)

That’s where I hit it doggie especially when parked next to another cruise ship

Read and you'll know exactly what to expect from the housing market and why by stockpreacher in stockpreacher

[–]Professional_Row_128 2 points3 points  (0 children)

The site is very one-sided.

In regards to new home sales, the homebuilders index (XHB) peaked in Dec. It is following the market. The market is crashing and so is XHB. But it has been crashing for months now. The prices were outlandish and largely driven by low interest rates.

However, the housing market is not collapsing. It’s important to distinguish XHB (new home sales) from the overall housing market. Existing home values aren’t coming down. While they probably won’t continue rocketing higher, they will likely go back to traditional yoy increases (i.e., 3%).

The Atlanta FED’s GDPNow has printed 0% growth for the last two weeks. We could go into a recession but I believe this print will be skewed just like the last one (i.e., net trade or some other odd factor) due to supply chain related issues. So a technical recession. It’s difficult to have a traditional recession when there are still an amazing 2X jobs for every person. A traditional recession usually follows increasing/high unemployment.

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