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Sly · 01-02-2018, 03:42 PM

Quote:

Originally Posted by OneHungLo

Exactly, that's why i'm calling bullshit on that dumb Hillary supporter. His real estate investment advice is to buy single family homes (which is terrible) and to try to buy and flip houses at or close to the top of the market. What will happen is some newb comes along, buys a dilapidated house and spends the next 3-6 months fixing it up only to find the inventory now is flooded and he can't dump it. Yeah sure you can hold it but who wants to hold on to single family homes when you could be in multifamily properties?

This also ignores the reality that most people cannot afford to "hold" a home that they are not living in. Even if the home rents "at cost," it does not configure in wear and tear and change in market. After that "at cost" renter leaves, property upgrades will need to be made again which makes that "at cost" renter a loss.

Sitting on a house for 5 years waiting for the market to turn is a serious waste of cash and huge risk. High-risk, low/no reward = terrible investment.

I learned the bad single family home lesson 10 years ago. Glad I did.