TIME TO GET OUT! Real Estate No Longer Profitable

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Real estate investing is no longer near as profitable in this housing market today, as it once was, leading many investors to bail and sell their properties. But this can have some unintended consequences on the broader housing market.
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11 авг 2023

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Комментарии : 627

@Dunewarrior00 11 месяцев назад

Investors, at least corporate investors need to be locked out of the housing market.

@parler8698 11 месяцев назад

Great idea.

@shanerogers9386 11 месяцев назад

Something should “happen” to every home they buy that makes it financially devastating. There needs to be a war on ever flipper and every investor.

@joshparrott8841 11 месяцев назад

Yep, we need such controls to keep a healthy ecosystem

@SomeUserNameBlahBlah 11 месяцев назад

Single family homes can only be owned by citizens, and you can own *one* single family home.

@michaelglenning5107 11 месяцев назад

Agreed.

@thekid1597 11 месяцев назад

I can remember when people purchased a home to live in, not to flip by greedy investors 😠

@ihave35cents95 11 месяцев назад

We're you born in the 1700,s. I'm 57 and I don't remember any such thing

@redrustyhill2 11 месяцев назад

Oh? What about people like me who buy an old outdated house NOBODY wants to buy thats been on the market for years and been vacant for a decade or more, and spend 6 months after work and on weekends fixing it up and renting it out in a town that has zero rentals? There is a huge demand for rentals in my town even though there are houses that have been on the market for over a year that need work. "Investors" like me are the reason houses are becoming available to renters. Some you people are ignorant how things work.

@ihave35cents95 11 месяцев назад

@@redrustyhill2 they're lazy. If I'm putting blood and sweat into something I'm wanting some money. They all went to benefit from the risk you take.

@GenerationX1984 11 месяцев назад

We got rid of all the antitrust laws and deregulated everything! I guess laws are there for a reason. Laws are good? Who knew?

@michaeltorrey3603 11 месяцев назад

The only thing investors do for my neighborhood is buy up the affordable houses and flip them into unaffordable McMansions or short term rentals. I say good riddance.

@tamjeanell 11 месяцев назад

For profit

@tHebUm18 11 месяцев назад

Not just your neighborhood, every neighborhood.

@the_derpler 11 месяцев назад

Yep same here, "luxury" just literally means anything at this point. The bar is very low. Now a days it means you have a counter top? A window? Lol.

@chriscoughlin9289 11 месяцев назад

@@the_derpler People who were raised by children of the Great Depression parents - like me - were routinely taught to buy the crappiest house in the nicest place they could afford. 30 years later I'm still in my tiny CA Central Coast cottage - two blocks from the water - and I've never spent a day of my life trying to keep up with the Joneses - much less the Kardashians.

@BruceLee-xn3nn 11 месяцев назад

@@chriscoughlin9289my grandfather is 90 and has lived his whole life like that. And has always bought broken vehicles and fixed and used them

@reneehampton7665 11 месяцев назад

They use to have more trade schools for students not interested in college. Some of it even started in high school.

@tinahudgens3155 11 месяцев назад

Woodshop and Autoshop were electives you could take in H.S. 25 years ago. They stopped offering those classes in the late 90's. I work for a utility co. and I've been pushing for a program to have local H.S. to come to our base a couple times a week and learn piping and take the test to enter our company. I'll be retiring soon, what better way to leave knowing that you trained a young person to take your position.

@jimshoe402 10 месяцев назад

@@tinahudgens3155 😁😁😁😁😁 I pay and show the Kids how to Fix my house..

@shakenbacon-vm4eu 11 месяцев назад

Homes should be homes, not an investment or ‘stock.’

@eshoo8000 11 месяцев назад

Air will have its own ticker on Robinhood soon.

@eddiemalvin 11 месяцев назад

Can't a residential property be both a "home" to the renter and an "investment" to the owner? I'll admit that real estate investing has gotten out of hand and institutional investors need to be reined in a bit but let's not oversteer on the definition of a home.

@fsm12385 8 месяцев назад

Agree strongly !

@valerierogers9609 11 месяцев назад

We don't need more apartments. We need small, affordable homes people can buy without slavery for 30 yrs paying on a fat mortgage.

@lindajohnson. 11 месяцев назад

You are correct! 😊

@barbward-qn4ix 11 месяцев назад

As a former landlord I am speculating that several factors are involved; higher insurance rates, higher property taxes, government regulations such as rent control, moratoriums on rent collection, tenant friendly laws, increasing repair costs, etc. My margin was slim with no repairs. Throw all this other stuff in, tough to make any profit. Surprised there are any mom & pop landlords anymore.

@jamesdelap4085 11 месяцев назад

On top of that young people aren't having/raising future tax payers.

@andreaberryman5354 11 месяцев назад

They were called "mom and pop" because they were an older retired couple who paid CASH or inherited and had no MORTGAGE. That is what mom and pop actually IS-not 20-40 something's trying to turn a profit on a mortgaged property-that does NOT work. So I guess everybody is having to learn that all of the videos, books, seminars and lectures were just from joe shmo trying to earn a fast BUCK, and NOT an actual seasoned real estate professional. Offer your rentals to your renters. They NEED their own home. 😢

@alanheadrick7997 11 месяцев назад

@@jamesdelap4085 My nephew just came to the US as a nurse and got a green card when he arrived. People are coming in to compensate for birth rate I believe.

@xyz987123abc 11 месяцев назад

@jamesdelap4085 Gee, wonder why?

@rifleman42051 11 месяцев назад

The Elite want it all and their getting it all.

@janesawyer3495 11 месяцев назад

Another issue to bring up, the cost of repairing a home has skyrocketed. Back in 2012, we got an estimate to replace all the windows in our house. 4400 bucks. We just had all the windows replaced (the doors will be done at the end of the month): Over 21,000 dollars in 2023. If even a regular homeowner (not an investor) fixes up his / her house for resale, all those repairs will factor into the sales price.

@morganhill2586 11 месяцев назад

21k for windows.. I'd be learning window installs

@mroberts566 11 месяцев назад

Window installation is very profitable. $21k is cheap; Jane probably owns a small house. I got a quote from Renewal by Anderson for around $70k for a 3-bedroom house back in 2014. Said no of course. Can’t imagine what it would cost today.

@janesawyer3495 11 месяцев назад

@@mroberts566 Wow that's expensive. Our home is 1440 sq ft.

@BDUBB24 11 месяцев назад

I’ve been considering an apprenticeship type side gig in the HVAC industry simply for no other reason then having the skill to do my own replacement and repairs. Lucky for me I was in the construction industry remodeling homes, so most* of what I need to fix or improve I can do myself.

@Monica-Brown 11 месяцев назад

Oh wow where did you go for that? I replaced a window for $300. It was a huge wide window. I went through a mom and pop window repair shop. They put in new glass for my windows though and it wasn’t a complete new window. Maybe for those that need new windows, look into replacing the glass only. Seems to be only a fraction of the cost

@jonathantaylor6926 11 месяцев назад

The thing is a lot of landlords... don't want to be landlords. It's a massive PITA to be a landlord, but bond yields were paying crap. Artificially low rates have consequences one of which was the redirecting hundreds of billions (or trillions) of dollars into real estate- money that would have ordinarily been invested in the bond markets instead. End the FED.

@treesnmoguls 11 месяцев назад

@siouxrose7766 11 месяцев назад

Very true. The 5% interest is close to what I end up with from a rental minus repairs, property taxes, property insurance, and any other issues. Also, I am in Florida where hurricane threats remain a constant stress factor... especially now due to extreme temperatures of nearby Gulf waters and the atmosphere, itself. I don't think it's been less than 90-degrees any day since late June.

@chrispaul1117 11 месяцев назад

End the fed? Lol. Zero chance

@edge918 11 месяцев назад

@@siouxrose7766 Im over here in Louisiana and I can promise you we haven't been out of the 90s in months 😳

@ianglenn2821 11 месяцев назад

this is a good point and argument for coming home price drops, mom and pop are now looking at 5% on short term yield treasury bonds, highest in almost 20 years, much more attractive than trying to exploit young people for rent leeching. As a wise person once said, "you can keep raising rent, but eventually, you'll run out of other peoples real created value"

@EMan-cu5zo 11 месяцев назад

I think this is a good thing personally. Housing has gotten ridiculously expensive and nobody who doesn’t already own a home have no chance to afford one.

@maxstone776 11 месяцев назад

On MSNBC they were telling people not to borrow from the bank, instead borrow from your home. They were encouraging people to use their primary home like an ATM machine. 🤣🤣

@hillybill6092 11 месяцев назад

Whatever Main Stream Media tells you to do something, don’t do it.

@1138prometheus 11 месяцев назад

Don't forget one of the most important effects when investors need to sell they find a price that gets them out. If they happen to be next door to your highly priced home that means your neighborhood comps will drop sharply. So all the people holding onto a 3% mortgage my suddenly find investors in their area are eating out the equity they thought they had by slashing the price to stop the bleeding

@myothercarisadelorean8957 11 месяцев назад

I was in Adelaide back in April for vacation from the States. I stayed near the beach and homes there for sale were about $1.3m Australian dollars. Yes it was few blocks from the beach but the homes were average 4 bedroom size. Pretty expensive for AUS dollar.

@tommorningstar6373 11 месяцев назад

Totally agree on apprenticeships into the skilled trades. I had a time machine I'd go back to prehisoric times, join the MARINES and get trained in a skilled trade like welding or heavy machinery mechanic. Then get out and get into the Union gig, get advantageous home financing, job preferences, and VA. Way smarter and more certain than the path I took to multiple post graduate degrees, multiple state licenses and little to show after 35 years as a so called professional. Education is vastly over rated. Take the sure thing folks.

@BDUBB24 11 месяцев назад

Elevator technician, high demand and pays big bucks.

@chadwells7562 11 месяцев назад

The military is a great deal if you’re starting out and do it right for sure. Though I’d say do a technical IT related field over a trade, get a security clearance, and leverage that into a Federal job later so you can get dual pensions or count the time you were in the military if you don’t retire from it

@Pyrrhus0331 11 месяцев назад

After the Marine Corps I attended San Jose State as a political science/ history major… 2 years later I was accepted as Electrician apprentice. 7 years later and I’ve never looked back. I make more than 99% of my buddies with degrees. I have no student loan debt, great medical and retirement

@chriscoughlin9289 11 месяцев назад

Education is NOT 'vastly overrated' unless you were under the misguided impression that it's synonymous with job training. I've had one of those good union jobs for more than 30 years - and paid off two houses over the course of that time. That doesn't mean I equate my life's path with that of my Harvard undergrad, Rhodes Scholar, Princeton Doctorate niece. I don't want to live in a world where doing those things for their own sake - without any guarantees - is just something to be sneered at. 30 percent of the country is already well down that path.

@dantheelevatorman 11 месяцев назад

I agree. I have only a few friends that make more money than I do as an elevator guy. Union skilled trades still have pensions

@barkbros123 11 месяцев назад

Thanks for uploading brother 🙏💯 no days off and we are eating it up 💪

@robertsimmons5575 11 месяцев назад

hey Michael you really hit the NAIL on the head with this video. I have been in construction all my life and have done very well. I live a comfortable retirement and debt free. great job

@kathrynj.hernandez8425 11 месяцев назад

Yeah. But many men complain that the job can completely wreck your physical body if you're at the level of those doing the hard work. It takes its toll. At least football pros get paid handsomely.

@jimshoe402 10 месяцев назад

@@kathrynj.hernandez8425 Correct 55 should be Full Pension.

@MrJFunkSanchez 11 месяцев назад

I’m a mechanical engineer and been working in downtown LA building new mixed used commercial and resident high rises the last 15 years. Construction and jobs still exists. My company trains apprentices and pays them while they work. They won’t need to payback schooling if they stay in the trade for 10 years. Good incentive. There is less interest for sure in the labor market yet pay is really good. As for ownership and renting, these “luxury” condos and rents are just to high to live in.

@aidanmcknight3111 11 месяцев назад

The construction trades are dying because there is no money in it anymore. The average person can’t pay for quality. Most people get by with temporary fixes and bandaids. The quality of materials and workmanship in even a modest home of 100 years ago exceeds the mansions of today. Look at the cost of a slate roof or copper piping. The affordable homes of even the baby boomer generation had hardwood flooring and trim. Today we get “luxury VINYL tile.” All of the suppliers are unable to keep delivery schedules which impedes construction. If I can’t get parts, and the parts I can get are bad quality which means I risk having to redo the job even if I do it correctly because of inferior materials, and the customer can’t pay for me to deal with the logistical headache or expense of getting good quality why would I want to do it at all? The margin has been eaten up by endless regulation and skilled worker’s wages have been compressed. I can’t compete with someone who doesn’t follow the rules and remits all of their untaxed cash earnings to another country

@Travis_LTE 11 месяцев назад

I drove by the new Samsung factory being built outside of Austin...as someone who's been in development since I was 18 in 2003... it's the most impressive project I've ever seen

@jenna6256 11 месяцев назад

I think the ones selling here in the US are homes that aren't insurable any longer, so check before buying. Also, I read that any one home is allowed 3 claims total and then insurance can be cancelled for no reason.

@2legit2Kwit 11 месяцев назад

Or we just want to a GTFO. Whoooo hooooo!

@networth00 11 месяцев назад

Homes are not uninsurable, people are. You don't have to have any claims to be dropped by an insurance company.

@johnyvik7242 11 месяцев назад

Right! There are all kinds of scams out there right now. The mentality out there right now is 'well they scammed me, Im going to scam the next person'. Buyers beware!

@markrangers1423 11 месяцев назад

You’re seeing a mass exodus from investors selling in the U.K. too especially in London

@ritamc90 11 месяцев назад

Wow I did not know it was happening outside of the US too. that is very interesting. I'm curious to see where the next few years go. Currently I'm happy keeping my investments.

@chrismiller1818 11 месяцев назад

Unfortunately in today's world you have to look at the quality of new homes i have a girlfriend who is a home inspector and its not good and many new homes are just not built that well with shoty workmanship to poor quality materials and next these investors who exactly are they going to sell these homes too especially since home values are dropping and high interest loans it's not looking good their profit margin is going to be low if at all and some might take a loss to cut their expenses the smart real estate investors saw this coming awhile ago and got out and you look at home's on the market and been for a year or better and no sale this will become the norm before the bottom falls out and when foreclosure's pick up steam its going to get bad

@JNoMooreNumbers 11 месяцев назад

I can look while HOAs going up and something looks off. In little time,the houses look a bit ratty faster than you would expect. They're ugly houses too with tiny lots. Sure not built with rough hewn timbers and 2x8s like my 37. Updated as needed.

@chrismiller1818 11 месяцев назад

@@JNoMooreNumbers my girlfriend went to one home for an inspection and she's does things like flush toilets this house the toilet got hot they had crossed water lines so that home .... failed

@DIVISIONINCISION 11 месяцев назад

@@JNoMooreNumbers Sounds like a DR Horton community. Cookie cutter houses on tiny lots.

@JNoMooreNumbers 11 месяцев назад

@@DIVISIONINCISION It's schizo, old homes next to McMansions and large to 11 acre lots. HOAs near the college pretty much with the apartments.

@JoeGator23 11 месяцев назад

What really screws people over in Queensland, Australia is that homes have been far over-priced for over a decade and people finance with variable rate mortgages. I used to live in Brisbane and it is far better to rent and put your investment monies into other areas.

@lindajohnson. 11 месяцев назад

The should have fixed rates like we have in America. Variable rates are terrible for the buyer.😢

@susanl7514 11 месяцев назад

Have shrunk to two basic cottages in towns four hours apart so sort of a prepper strategy. Appalled at how a property manager deliberately ran one of them into the ground for the last 9yr and we're gradually bringing it back up to OK.

@01Lenda 11 месяцев назад

That is what all those folks who say it is so great, to have the market open. These corporations run the places into the ground then sale them.

@Gemma1558 11 месяцев назад

Thank you for providing good common sensible information in a non-dramatic yet easy to understand way. I like how you walk through neighborhoods and places. I like how you focus on real estate, but also bring in other aspects of the economy. Good job!😊

@michelletribble891 11 месяцев назад

For 2 yrs I have kept an eye on AZ real estate and every time a flipped home that had been beautifully done or just a great home with great care came on the market they were snatched up right away. Well that is not happening any longer which tells me the investors are gone. When the rates were low ppl could only get there hands on the ugly houses and even that was a hit or miss. Unfortunately now that houses are at all time highs as well as the interest rates those people who have sat on the sideline are buying them and give it time they will regret it cuz not only are they house poor but many may loose there jobs in the recession. Many of our real estate agents are still selling FOMO to line there pockets and to many ppl are buying with emotion not common sense. This will turn into a very ugly shit show.

@ProvocateuAstrology2 11 месяцев назад

You should stop by venice beach at night and see if it's safe. The neighborhood looks like something's not right

@larkatmic 11 месяцев назад

New roof for a 1200 sq ft house in 2019 was 14k. Today 28k!!!! Unbelievable! How are people affording this?..

@romuloserrano6724 10 месяцев назад

Thank you 😊

@soniadowney7427 11 месяцев назад

Did you see GIV? Congratulations on making it top 100 subscribers!

@tinamakaneole 11 месяцев назад

Thanks!

@dickjones8119 11 месяцев назад

Anything that gets corporate investors out of the market is great news.

@SecretRoomEvents 11 месяцев назад

You can I meant bring bottle of wine with no fee amd the sunsets r the best braodway amd ocean ave.. san vocente and cheap rent Control places 3000 for 2 bedrooms.. a bungalow is coming up for rent at my friends bungalows only 6 units cute on 19th and Montana. I think 2900 with alittle yard

@Jeannified 11 месяцев назад

Glad you enjoyed your time in Venice and that they seem to really be trying to tackle the homeless situation!

@networth00 11 месяцев назад

He was not in the right spot. I don't see the beach. Have you ever been to LA? All the homeless are on the beach.

@Jeannified 11 месяцев назад

Yes, though not in years. He did say he went by the German in Venice's shop, which is on the boardwalk for Venice Beach, so I would imagine that would be where he would have seen some homeless there, if they were around.@@networth00

@michaelmallal9101 11 месяцев назад

A friend's rate is 7.41% with CBA - the biggest bank here in Oz; that's $1,000 per month P + I repayments. Outgoings on top, then there's tax.

@edge918 11 месяцев назад

Michael, you are so right about who's buying up all the properties. I am very lucky to be a member of a sovereign nation. But everywhere outside of our land boundaries is insanely priced😞 Hey hey Miss Lisi 🤗 *I graduated from college. Got scholarship from my tribe.

@vandydandy2697 11 месяцев назад

New builds especially affordable housing/condo buildings would never break ground unless they know they have investor interest

@Johnny-vb3dq 11 месяцев назад

Michael, helocs should only be used for emergencies. The good thing is you can write off the interest , where as you can't on a credit card, thank you pres Regan . But I'm with you unless you in a super bind and at risk of losing everything I'd say no , cut cable ,Amazon priime, net flicks etc. 1st

@kathrynj.hernandez8425 11 месяцев назад

Or just pay off your credit card each month and live within your means. FIFY

@mattanderson6672 11 месяцев назад

Thanks Mich

@bruceb85 11 месяцев назад

I’ve been searching for cash flow properties and haven’t found anything ANYTHING that cash flows at 7% interest.

@EggplantOven 11 месяцев назад

Man, houses in Orange County (garden grove and nearby) are going for $150k over listing still

@kbkatherineb3944 11 месяцев назад

This is all a good start. Investors getting out is good news for buyers. Home builders might be able to hire contractors too now they are not competing with big money. But prices so extreme that they still have a long long way to fall

@brianlord1232 11 месяцев назад

Bring back the trades!!!.. you nailed it.. people feel it’s below them,entitled and lazy!! I have met many a millionaire plumbers,landscapers, contractors over the years!!!

@JBoy340a 11 месяцев назад

All these trades people drive $100K pickups by me. And no doubt the pickup is registered to the company so is a tax deduction.

@ProvocateuAstrology2 11 месяцев назад

Lots of fences and hedges around the property in venice beach

@jaymellathomas7958 11 месяцев назад

Thanks again for the info ❤

@debrarouse2794 11 месяцев назад

The Administration in power now, WEF, AI,etc., etc....GET REAL...People in their right mind and "common sense" SEE what's happening! OMG✌

@cookingwithadamkahnandlixu2718 11 месяцев назад

That’s kind of what I pictured. A standstill and not a collapse

@jacstoneu 11 месяцев назад

You should walk around North of Montana in Santa Monica some nice neighborhoods

@oneuser06 11 месяцев назад

These next 2-3 years will be very interesting for people building cash and waiting for the crash

@judymckee5992 11 месяцев назад

As more investors are selling, rental inventory will be low and translate to high rental.

@joefer5360 11 месяцев назад

As a millennial, I just troll the realtors now and low ball them 80 to 90 percent of the listing. I'll never own a home, might as well get some giggles.

@brainwashingdetergent4128 11 месяцев назад

I own 7 rentals I low balled many of them 50% or more and got them. Lowballing is no joke bro you can get somewhere with that attitude im serious!

@elizabethblane201 11 месяцев назад

Were you lowballing during a downturn?@@brainwashingdetergent4128

@briandavidsuder8319 11 месяцев назад

The Venice encampments are always on the beach. They never entered the neighborhoods of Venice. They have hit the neighborhoods of Hollywood, and several cities throughout LA County and LA City.

@TheTurdballs420 11 месяцев назад

I’m telling you my man, Compton has been cleared up too! Come check it out!!

@zerodev6691 11 месяцев назад

I look at the houses in my area (queens) and every month the one i am eyeing is dropping by 40k increments

@greeceundiscovered9670 11 месяцев назад

Not in Astoria

@zerodev6691 11 месяцев назад

@@greeceundiscovered9670 good to know ty. probably out of my price range for astoria anyways

@foryou-ft8vf 11 месяцев назад

Speaking of time to build, some areas like California have so many requirements and restrictions and permitting that it takes a very long time to complete a build and it is much more expensive than other areas of the Country.

@andreaberryman5354 11 месяцев назад

Spokane WA is that way too-we have to get a permit and inspection to put up a pergola or regrade our lawns.

@DIVISIONINCISION 11 месяцев назад

California has become prohibitive on many fronts. The weather is the only good thing about the state.

@iworkout6912 11 месяцев назад

@@andreaberryman5354 I have heard that Portland, OR is real bad at costs of trying to start a business. A person was complaining about if he opened his business in Portland, he'd need to spend several hundred thousand dollars just getting all the permits and fees paid. Up the coast in Seattle, the cost was fraction of that. One reason Portland is in such bad shape, among other reasons.

@ashleyjohnson2477 11 месяцев назад

The government won’t help pay for trades school. My daughter had to pay 15k to do 6 month trade school. They covered all her college for general business degree. Sad truth is we won’t have people to fix the toilet.

@user-hn2gi7tm4v 11 месяцев назад

Great video You’re spot on about the work force I lived near Venice for 16yrs The trades schools here in New England are a joke I’m a heavy truck mechanic and the kids there pumping out now nothing I work for a municipality in Ma. We can’t get anyone to apply We changed our policy to no licenses to get people and we have fortunately Still no mechanics and I’m retiring soon

@JBoy340a 11 месяцев назад

Most of the mechanics I know are leaving the business. You need specialized equipment to diagnosis a vehicle these days. And the companies that make this equipment charge an annual licensing fee for the software to the tune of $1000s for each car brand. Then when you charge the customer a diagnostic fee they bitch and complain. Who needs it.

@johnwade3476 11 месяцев назад

Construction work destroys your body I've been a construction electrician for over 30 years at 55 I'm pretty much done to much pain 😢

@dlasti 11 месяцев назад

One thing's for sure is that, it does feel good to be debt free. I can pile up cash for two or three years and buy a house with cash. I'm tired of being a renter, especially in Hawaii. The "market" dictated the rise in rent, even in a 60 year old home. Not worth it.

@Thegamehighlights 11 месяцев назад

I’m a current landlord. High interest rates don’t really impact my current cash flow.. but it does effect ability to grow.. with new property and refi’s. New investment money might go elsewhere.

@kennethso6811 11 месяцев назад

How do you borrow against your home when your credit cards are maxed out? It means your credit score has already plummeted

@BaaSicStuff 11 месяцев назад

Location location with me in Japan for 11 years. Yeah we’re gonna run out of desirable locations

@ginaray-zwar1595 11 месяцев назад

Hi Michael. A couple of additional things are adding to Australian investors leaving the market. One is that a lot are older & after some quiet years, see now as the opportunity to exit the market while prices & demand are up. (There's a huge shortage of rentals, not helped by a million + extra people migrating in over the past & current financial year.) Probably a big disincentive to owning property are the changes to tenancy laws coming in. These make it much harder to get rid of a difficult tenant. They also give tenants rights to make changes to the property, keep pets, etc etc. Because the government isn't building much low income housing they are pushing this responsibility onto landlords. I'm an investor with 25 years experience & well hang in there for now. Enjoy your show! Regards

@jimdickson1969 11 месяцев назад

Investors are selling properties to pay down their own mortgages which they are suffering on under higher mortgage rates. We need some serious price relief, so thats a good thing.

@anonymouslyominous33 11 месяцев назад

There is a labor shortage because there are too many people making a living off doing unproductive things . Back in our parents and grand parents day most people were working actual , physically productive jobs , too many people making a living off of some old money and that's not productive.

@sl123sl 11 месяцев назад

Very true...not to mention all the fraud and "legal fraud". ie.. overpaid municipal workers and lawyers

@dennistyler9852 11 месяцев назад

@@sl123slHealthcare is way to much money too…

@Ww8.3 11 месяцев назад

@@dennistyler9852maybe for all the CEO’s/cfos everyone else could use a pay bump

@GenerationX1984 11 месяцев назад

No. The term "labor shortage" was invented by employers to justify keeping their wages low and shift the blame to nonemployers who don't want to work for ridiculously low pay. They're always inventing new words to vilify the workers. Just in the past couple of years they've invented at least several new terms that do just that.

@5026944 11 месяцев назад

If inventory is still very low , how can we see any significant decrease in prices. Miami is still super inflated.

@coding7196 11 месяцев назад

Yes, office jobs are over-rated and some folk don't fit into offices where the places can be snobbish.

@mrchad97z49 11 месяцев назад

The average median price is now Half a Million.

@FloridaManConstruction 11 месяцев назад

I’ve been a real estate investor for the past 28 years. I would offer that it is interest rates and the way tenants act now that are keeping investors from purchasing more properties. I’m done and sold most of my properties the past two years. A small cabin on a couple hundred acres is looking real good. ❤️🌴🐈🐈🐈🌴🏴‍☠️

@treesnmoguls 11 месяцев назад

Can you elaborate on how they act now? You mean they ALWAYS pay the rent on time and RESPECT your property?

@jamesdelap4085 11 месяцев назад

On Golden Pond for me too with young Jane.

@DIVISIONINCISION 11 месяцев назад

Why would you ever need a couple hundred acres unless you want to farm? Otherwise, what is the point? You can't take it with you.

@phuchyouh7171 11 месяцев назад

@@DIVISIONINCISION the point is privacy and solitude. You need at least that much acreage for a buffer zone. I'm only on 20 and it's not nearly enough.

@taffyalusa4642 11 месяцев назад

@@treesnmogulsnot all tenants respect the property, we've seen it all as a landlord of a rental, you don't make much for all the costs and work. We had a tenant put wipes down toilet, $5k. $10,500 year for taxes and insurance, 10 % management fee, yard care, profits are slim, sometimes $0 or neg when AC, electrical, plumbing issues

@ag4allgood 11 месяцев назад

I would NEVER try buying a 2nd home for income ! Besides squatters the costs are up so high that finding Renters with GOOD CREDIT are vanishing ! Real Estate sucks right now. People with good Mortgage rates are staying in their houses. Less houses on the market keep home prices artificially high. I own my home & have been living BELOW my means for many years so there is money in the Bank / Brokerage plus the car is paid off. With these great interest rates on Bonds & CDs its a very good life.

@ritaagafonova5270 11 месяцев назад

Australia isn’t fix rate mortgages so why compare to the US?

@jongonegone1262 11 месяцев назад

its the quiet before the storm !!!!

@TheWrd_OfGod 11 месяцев назад

You are exact with everything you said

@SecretRoomEvents 11 месяцев назад

They have gotten better by July I went to anna maria island in June came back and they have cleaned it up alot more for the European travel. Wait till September comes

@billolsen8131 11 месяцев назад

Love it there. Good choice

@andreaberryman5354 11 месяцев назад

Oh-you think that's it???

@pink-3237 11 месяцев назад

We're cash buyers and have been looking for a home for the past two years. We finally decided to quit and invest our money in CD's and money markets currently. We refuse to purchase these overpriced homes that need totally gutted. Here in Ohio, they're asking over $300k for a home that sold two years ago for less than $200k and it needs totally gutted. I blame real estate agents for overpricing and banks, for appraising homes that are overvalued.

@elizabethblane201 11 месяцев назад

You are smart to follow that course of waiting; I am doing the same. As far as who is to blame, realize that everyone participated in the feeding frenzy: realtors, lenders, sellers, buyer, etc. But if you follow the money, you realize that culpability lies with the Fed, who gave out all that "free" money for so many years. When you give a sailor money and liquor and let them off the ship, you know what will happen.

@lycanwarrior2137 11 месяцев назад

@@elizabethblane201 The Federal Reserve and Central Banking should've never existed. They are what's wrong with the financial/economic system.

@JBoy340a 11 месяцев назад

@@lycanwarrior2137 I don't think getting rid of the Fed is a good idea. Prior to its establishment we had many more crashes that caused people to lose homes and businesses. The Fed needs to improve, but it serves a useful purpose.

@debrarouse2794 11 месяцев назад

We're being thrown into "survival mode"...which IS "in power" planning...HELLOOO...+

@oneemotiva4975 11 месяцев назад

For the same money I prefer to live in LA then Miami inferno. No Offense, that is why I just purchased a home in Newport.

@jaxntax5509 11 месяцев назад

Iluna is a union in the construction fields with an apprentice program so does IBEW and the Merchant Marines. These are all working programs. Maybe just maybe someone should look into them.

@gridley 11 месяцев назад

Quite seriously, it would be interesting to walk through areas around Compton or South central LA, low-income neighborhoods for over 90 yrs, & analyze why various properties there (SFH too) are priced at over $400K to $600 K or more. If that doesn't symbolize a huge bubble, I don't know what else does.

@frankiemionetto 11 месяцев назад

I hope he has a bullet proof vest if he walks through those neighborhoods

@lovly2cu725 11 месяцев назад

HE SAID HE WONT DO THAT. I DONT BLAME HIM

@chrispaul1117 11 месяцев назад

50 illegals per property pays the rent. Makes sense to me

@1lebero 11 месяцев назад

Believe it or not not when the real estate crash happened in 2008-2010 it had very little effect in Compton as it related to cost

@elizabethblane201 11 месяцев назад

I would not recommend that he do that.

@mikesrandomvideos 11 месяцев назад

ELECTRIC LIGHT PARADE Sunday night in Venice Beach MIke Your Wife would love it.

@bchbum3802 11 месяцев назад

My husband is an Elevevator mechanic. Started very young as a helper and was taught by old school mechanics. He has retired out of the field. It was hard to get good strong workers in construction. He went from const to service and now is a BA in the office. Escalators and elevator work is dangerous work. I am scared to ride with newbies coming in.

@13ChroniclesOfDagger 11 месяцев назад

It definitely has its "ups and downs".

@BDUBB24 11 месяцев назад

I fly planes for a living and I’ve always said I’m going to die in an elevator. I stay in 15 hotels a month and in two years I’ve been stuck in two elevators that malfunctioned with me inside, not fun.

@warningsigns4526 11 месяцев назад

Homes were not meant for that -the top of the pyramid make out like thieves and the bottom are broke

@hugh261 11 месяцев назад

With the pressures driving inflation, it would seem likely that interest rates will not be dropped anytime soon.

@postscript5549 11 месяцев назад

Stellar, gnarly tree!

@debbiec6216 11 месяцев назад

I know people who's from Brazil , India and those folks, who did what was right and came to The USA , the in the front door , not back door. My nephew who went to a Trade school , and it's a very expensive school, he never had student loans, it was paid in full. The nephew been in business for 5 years and doing awesome. He's a very hard worker, that's how my brother was. Work hard and don't waste time. get the job done.

@hirokomlm131 11 месяцев назад

I don't get it, assuming the investors bought their properties at a fixed rate when interest rates were lower, why would higher interest rates be affecting their profit?

@P8intballEvans 11 месяцев назад

Wages are so low for labor jobs and most require use of your own tools, vehicle and above all your body!

@redrustyhill2 11 месяцев назад

Yep. Its always been that way for mechanics. It takes years to buy all the tools you need and learn to skills so you are good enough to actually be making good money. Whats changed is every kid today feels entitled to get the same pay as a guy who has 20+ years experience, they need a mcmansion, and brand new vehicle.

@eighthwonderproject1395 11 месяцев назад

The sheriff in Santa Monica, which was the first to clean up one of the cities on the ocean, threatened to clean up Venice, the sheriff and Venice couldn’t get it done, so pressure on Venice to get results. Therefore, this is what you see a lot better than during the pandemic for sure almost night and day

@tlw842 11 месяцев назад

The $2.2M house on Michael's walk is next door to what looks like a mobile home that has been added on to. No thanks!

@fsm12385 8 месяцев назад

Investors today close on the property and 2 months later want an equity gain , long term its not an IPO

@SirCarlosMusicBMI 11 месяцев назад

With all these scenarios I can’t wait to see what things will look like a YEAR FROM NOW???? I believe that EVERYTHING will be changed drastically. Keep up the great work my friend. Blessings, Carlos ✝️🙏❤️😊🇺🇸

@drake_leo2152 11 месяцев назад

You’ll own nothing and be happy -WEF 2020

@Matthew-rp3jf 11 месяцев назад

If we see a crash, remember all the greed by home investors/ sellers...no bailouts! This is on them, not the banks.

@JohnPaulInvesting 11 месяцев назад

What camera setup is this and what are you holding to stabilize it??

@racoonracer7878 11 месяцев назад

Probably a selfie stick

@JBoy340a 11 месяцев назад

I thought the UK, and it's former colonies (Australia, Canada, etc.), real estate fixed their real estate loan rates for much shorter timeframes than the US. Often 3 years or less. If that is the case, I could see why someone in one of these situations could look at bailing out of a rental with a mortgage when considering the loss of their 3% rate in a year or so and going to a 5-6% or whatever rate.

@3777177 11 месяцев назад

Those vans are not a good thing in front of your house....you can put a positive spin on it if you like, if your house it is not a good thing......

@JohnJohnCrusher 11 месяцев назад

Unless you have cash. There's enough cash buyers to scoop up all available inventory.

@rightright6582 11 месяцев назад

South of oscean drive Venice u even ha a Fayuca

@iddddaduncan 11 месяцев назад

It's not cool being a carpenter, plumber or electrician? We're all working full time making $50-$100 per hour, enjoy coding for $30hr and your $100k student loan, Ha!

@DIVISIONINCISION 11 месяцев назад

I make as much as trades working in my own office in the A/C, using my brain not my body. Medical field, two degrees, two licenses. Can't beat it.

@billcarsonalias 11 месяцев назад

you are sugarcoating the homeless problem. I live and work on the west-side of Los Angeles. There was a vagrant on vagrant murder this week on the Santa Monica boardwalk in the middle of the afternoon. Right where all the tourist are. Be very careful.