Wait till winter
Not too late. I know of two houses bought and sold for a 30% profit in one month. If you can find a house needing work still a lot of potential for value add.
You may not outsmart the competition but you can out build them. My plan was to sell. Now I will wait.
I have found a partner to remodel all my properties and then sell. I will wait until a tenant moves out then redo the kitchens, baths and floors.
I don’t care about winter. Spring will be again here in April. Selling season is June through October.
Besides skiers have money and they buy even in the winter.
Big mistake. Do not trust others ( including me) more than yourself. It is your money and no one will take care of it better than you. If you had made so much money, I am pretty confident you know how to preserve it.
Rules of RE investing. Location location location
And buy and wait. Don’t wait then buy. People that bought in 2006 in Tahoe had to wait 14 years. Now they need to wait a little longer.
I bought a waterfront house in Discovery Bay in 2007.
Worst investment I ever bought. Finally is in the black.
Plus all the rental income in the last 13 years.
So even the worst investment I ever made is still returning about 5% a year tax free.
I did very well based on his advice on many topics. Was lucky to have him as a mentor.
No, these people won’t buy anything. They are permabears who like to make up theories to justify their lack of risk taking. There are always some reasons why things will turn bad. They won’t accumulate any significant wealth.
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The same system has been in place for decades. SF prospers in spite of the system not because of it. People have been complaining about NYC for even longer. Didn’t matter and likely won’t matter.
This pandemic won’t last forever. Life will be back to normal by June next year. We will see.
If you think it is time to buy, pull the trigger. You are doing just the same that you accuse of others but in reverse direction.
Yes exactly. If everything looks so rosy to you buy them up. Money is cheap buy buy buy. Why do I see so many homes on market. What are you doing? But them all.
And the interest rates are historically low too. BUY as if there is no tomorrow
The system has driven families out of SF for 50 years.
85% of SF households are childless. It is the least family friendly city in the country. SF would rather have people walking around naked in the Castro and the Folsom street fair than family friendly politics.
Manch you have already said you are selling RE and buying stocks, so we know where you really stand.
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He is looking for sheeps.
Sheepeople
Every one has a right (and duty) to sell at the highest price. I respect that sentiment.
Absolutely and it is still a good time to sell. Prices haven’t dropped much and anybody who bought before 2018 in the BA has a huge gain.
Prices will come back in SF. But rental prices will be soft until there is an effective vaccine and people aren’t afraid anymore. 2024?
Then buy. What are you waiting for?
I don’t plan on ever returning to the BA. But I do own apartments in Oakland that are doing very well.
You have already seen the fires , damages and lack of prepardness. if insurance costs force people to move further into dense areas. what will be quality of life with congestion?. we only surviving due to Federal bailouts.
I am still figuring out that where is that Wealth.
The Castro bars and Folsom leather fairs are actually better attractions for young people than boring Sunset neighborhoods.
I am selling RE because I believe stocks will give me better returns in the next decade. My wealth is too heavily concentrated in RE. Need a better balance anyway.
You can’t out think them but you can out bid them. These guys did detailed analysis like @erth So all you need is to add in FU money.