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Bad news in US housing bubble land out there:.
after the 2007-2008 crash, people are nervous to buy a house with fears that the house will be worth less in a few years.
We will have a nation of rentors…. which is big opportunity IF you switch gears to provide the housing they are looking for. (Think Master Lease!)
Unfortunately, some investors are stuck in buy/fix/sell mode and could get caught with a lot of money tied up in houses they cannot sell.
I find that buy/fix/sell people have a very hard transition to other exit strategies. The ones I know are petrified of renters, yet are very reluctant to give up any income to a property manager or master leaser. These are the folks who got clobbered in 2008 holding over improved retail properties with no market for buyers. They might have weathered the storm with a rental program.
In that same vein, I have a hard time transitioning from buy and hold to other exit strategies.
Change is hard, but I am adopting a 4 prong approach to investing – rental portfolio, master lease/lease options, wholesaling and financing (notes and mortgages).
it’s a lot to manage. Much of what I need to know is right here on CFD, including another ME (outsourcing!)
Managing properties became much easier and more profitable after reading Jack’s old Landlord – Tenant Survival Manual AND attending David Tilney’s management courses. Jack was happy to acknowledge that David significantly improved Jack’s already good property management ideas.
Change from being a “fix & flipper” to a manager, while certainly difficult early on, has allowed me to now have a life. And, tax preparation sure is easier too.
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Oops — things just got worse. Now the mortgage applications numbers have dropped to a 13 year low, despite some irrational exuberance in the home builders community:http://www.zerohedge.com/news/2013-12-18/mortgage-applications-collapse-new-13-year-low
http://www.zerohedge.com/news/2013-12-17/homebuilder-confidence-spikes-back-highest-8-years
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