https://twitter.com/realwillmeade/status/1244772639903809539
I never thought about people holding multiple mortgages for Airbnb rentals. Mostly because I'd never do something that foolish. The next year or two should be a fantastic time to purchase that Las Vegas condo I've always wanted.
azzkick(&^
I never thought about people holding multiple mortgages for Airbnb rentals. Mostly because I'd never do something that foolish. The next year or two should be a fantastic time to purchase that Las Vegas condo I've always wanted.
azzkick(&^
What happened sport? Came in here to gloat and didn't expect to get kicked in the teeth? You clearly don't seem to understand how protected one's mortgage is right now. I'm actually loving this. We should have quite a nest egg after the next 12 months. Sorry you're not intelligent enough to realize this.
Nothing happened sport. You came in here defending real estate like somebody shot your pet dog. Kicked in the teeth with a few posts from a stranger on a gambling board? Try harder. Airbnb superhosts are going to be slaughtered. I'm talking about buying a condo in Las Vegas, not another single family home.
I'm not too concerned about air bnbs (fuuny that you think they would play such a huge role in the market anyway). But it's apparent you don't have a clue on the benefit of all this helicopter money. You really should read up before reviving some age old thread. Have a good night and thanks for the laugh.
I see you still got the comedy routine going (you definitely missed your calling to be a comedian). Sounds like you've been drinking Captain Morgan, Captain Lee.
As far as Airbnb's, let's just throw them all into the same boat....investment property. No one is stuck leaving a property in the Airbnb category (at any time they can just opt to rent their house out). As for why people go that route in the first place, it's typically because they live in a desirable area for vacationers and know that they only need to keep their place occupied for maybe about 1/2 to 1/3 of the time to make the same thing I get for my whole month's rent from consistent tenants. But it's easy enough to just switch over.
And since you are truly clueless and were so quick to run your victory lap by rehashing an old thread, let's just say that you're a little premature.
But since you clearly don't understand the risks of investment property, let me help you out. The biggest risk by far is that your tenant doesn't pay and then to a lesser extent, that they trash your house. On the former, most good landlords invest in someone that will do a thorough job of screening a client. In our case, my wife and I don't want to bother with anything so we have a property manager take care of it. I love ours. They're extremely selective (criminal background checks, FICO score of 750+, income verification, etc.) and have a full network of contractors for any repairs. Obviously there's no guarantee, but they do a pretty good job of mitigating the risks.
Admittedly, when the President first said you couldn't evict anyone for 60 days, I said WTF is that? I still have to pay my mortgage, property tax, and insurance. How the hell can you do that and not make the banks give some concessions also. And they did.
Now you apparently aren't paying attention, but the Government just stepped in and said don't worry about your biggest risk for the next 12 months because we're going to make it so you don't even have to pay your mortgage (we're just going to extend it). So not only did they delay any issues whatsoever with the housing market, they just allowed Landlords to get a windfall. In our case, our tenants should keep paying just fine. One of the tenants has a great paying job in technology (so work at home if he needs to). The other works for an essential business. So we'll be rocking with 12 months of rent and no mortgage payment. So grab a clue, Einstein, does it looks like we'll be in a better place a year from now or worse? The fact of the matter is, if a landlord only gets 50% of their rent, they'll be in a better place after the 12 months. So for you to think this market is suddenly going to plummet, is definitely premature, and a bit laughable. The tenants are not getting free rent. Some are getting payment plans but they still owe it (and I doubt many people really want the hit to their credit score by getting evicted). The only real question on this whole thing is how long the shelter-in-place will last. I'm in the same boat on this with Willie (I think we're up and running by end of May at the latest...but we'll see). If I'm right, people are back to work, but we're still sitting on our mortgage extension. Seriously, landlords couldn't ask for a better scenario.
But you keep on thinking you're going to get yourself a deal sport (and I'll keep on laughing at you).
Airbnb has been a weird but successful model. I would expect if the owner is at least savvy in anyway they would find a way for a long term renter to coast through this.
I am sure there will be some deals.....especially at beach locations if the beaches stay closed in the summer months. I dont see that happening......but if it does the buy will be in the commercial real estate.
I am sure there will be some deals.....especially at beach locations if the beaches stay closed in the summer months. I dont see that happening......but if it does the buy will be in the commercial real estate.
I see you slept on it and then woke up even dumber than you were last night. Ok I'll summarize this quickly because I'm busy this morning.
I posted here about wanting to buy a condo or apartment like unit in Las Vegas and that prices there are going to crash. The entire casino industry is closed down. Las Vegas relies on casinos, travelers, gambling. Are we clear about that? Las Vegas real estate is more boom and bust than where most of us live. Most of these units are purchased using leverage, lots of it. Greater leverage amounts to more extreme price movements, both higher and lower. These airbnb super hosts or whatever ignorant term is used for them, are leveraged above their eyeballs, with an intermediate term outlook of having few or no customers. If they have no customers, where is their revenue going to come from? Helicopter money isn't going to rescue all of that. When they see prices falling, along without any customers and revenue, they're eventually either going to sell or lose their ownership. Many of them won't even be able to cover the related fees. More helicopter money? If you really think helicopter is going to save most of these over leveraged airbnb Las Vegas unit holders, you really are an idiot. I didn't call them owners, because they don't own anything except a bunch of debt.
You show up in here claiming to kick my teeth in, when actually YOU ADMITTED IN ONE OF YOUR OWN POSTS THAT YOU WEREN'T EVEN CONCERNED WITH AIRBNB! You continued trying to talk shit about airbnb not being a large part of the market. What market? If you don't think airbnb is a very large part of Las Vegas' condo market than you really are a fool. You continued further advising me to research helicopter money, and to read more.
The fact is that airbnb rentals are a huge part of the Las Vegas market (along with many others), but again I'm only looking to buy a Las Vegas unit. Las Vegas unit prices are going to crash. It's also a sector with plenty of over leveraged borrowers. Remember this is Las Vegas I'm speaking about, not where you live. I don't give a damn about where you live.
You failed to even read or think about what I was posting about and still are coming in here with the same type of ignorant attitude. I find this odd, but the internet has a way of bringing out the most ignorant types.
Enjoy your helicopter money, as it still will buy some things. Don't pay your mortgage for a year or maybe two. I'll make it clear one final time that I don't care about that.
I posted here about wanting to buy a condo or apartment like unit in Las Vegas and that prices there are going to crash. The entire casino industry is closed down. Las Vegas relies on casinos, travelers, gambling. Are we clear about that? Las Vegas real estate is more boom and bust than where most of us live. Most of these units are purchased using leverage, lots of it. Greater leverage amounts to more extreme price movements, both higher and lower. These airbnb super hosts or whatever ignorant term is used for them, are leveraged above their eyeballs, with an intermediate term outlook of having few or no customers. If they have no customers, where is their revenue going to come from? Helicopter money isn't going to rescue all of that. When they see prices falling, along without any customers and revenue, they're eventually either going to sell or lose their ownership. Many of them won't even be able to cover the related fees. More helicopter money? If you really think helicopter is going to save most of these over leveraged airbnb Las Vegas unit holders, you really are an idiot. I didn't call them owners, because they don't own anything except a bunch of debt.
You show up in here claiming to kick my teeth in, when actually YOU ADMITTED IN ONE OF YOUR OWN POSTS THAT YOU WEREN'T EVEN CONCERNED WITH AIRBNB! You continued trying to talk shit about airbnb not being a large part of the market. What market? If you don't think airbnb is a very large part of Las Vegas' condo market than you really are a fool. You continued further advising me to research helicopter money, and to read more.
The fact is that airbnb rentals are a huge part of the Las Vegas market (along with many others), but again I'm only looking to buy a Las Vegas unit. Las Vegas unit prices are going to crash. It's also a sector with plenty of over leveraged borrowers. Remember this is Las Vegas I'm speaking about, not where you live. I don't give a damn about where you live.
You failed to even read or think about what I was posting about and still are coming in here with the same type of ignorant attitude. I find this odd, but the internet has a way of bringing out the most ignorant types.
Enjoy your helicopter money, as it still will buy some things. Don't pay your mortgage for a year or maybe two. I'll make it clear one final time that I don't care about that.
