rentals and the crash (by farril [NM]) Oct 28, 2009 9:02 PM
rentals and the crash (by Irish [MD]) Oct 28, 2009 9:14 PM
rentals and the crash (by Reid [KS]) Oct 28, 2009 9:59 PM
rentals and the crash (by Theresa [TX]) Oct 28, 2009 11:07 PM
rentals and the crash (by Robert.Ontario,Canada [ON]) Oct 29, 2009 1:10 AM
rentals and the crash (by Reid [KS]) Oct 29, 2009 2:07 AM
rentals and the crash (by Alex [IN]) Oct 29, 2009 3:36 AM
rentals and the crash (by Smokowna [MD]) Oct 29, 2009 3:59 AM
rentals and the crash (by IN [IN]) Oct 29, 2009 5:42 AM
rentals and the crash (by Jeff S [MI]) Oct 29, 2009 6:35 AM
rentals and the crash (by del [MD]) Oct 29, 2009 6:44 AM
rentals and the crash (by Jean [OK]) Oct 29, 2009 8:37 AM
rentals and the crash (by Steve [FL]) Oct 29, 2009 9:28 AM
rentals and the crash (by Steve [CO]) Oct 29, 2009 5:29 PM
rentals and the crash (by MrRational [MD]) Oct 30, 2009 8:49 AM
rentals and the crash (by farril [NM]) Posted on: Oct 28, 2009 9:02 PM Message:
State Specific Question About: NEW MEXICO (NM)
If the Dollar crashes what will happen to our rental business? Will it be a liabilty or a tredmendous asset?
FD4 --97.123.xxx.xx |
rentals and the crash (by Irish [MD]) Posted on: Oct 28, 2009 9:14 PM Message:
If you have good cash flow now, and good management sense, and a long hold attitude...someday you perhaps, just maybe you can bear it out...and succeed in future years..
If not all of the above, sometimes it might be better to take a loss now before it gets worse...
If you are way below cash flow now, it may be time to cut your losses before the losses become even more...
--74.110.xx.xx |
rentals and the crash (by Reid [KS]) Posted on: Oct 28, 2009 9:59 PM Message:
Well if things are similiar to The Depression I may be Ok because what I have I own free and Clear so if need be I could Barter Like my Great grandfather who had a market did and take produce, and chickens Etc in lew of cash for rent . And as long as I could pay the taxes I might get by. My grandfather was The "wire Chief" for this county for Bell Telephone during the depression and he told us stories of people paying their phone bill with a pig or home canned food . I don't look forward to that kind of disater because I think that American now have such a mercenary attitude that the kind of collapse that you are talking about would be more akin to what's happening in Zimbabwe now than what happened in the US in the 1920's and 30's --70.252.xxx.xxx |
rentals and the crash (by Theresa [TX]) Posted on: Oct 28, 2009 11:07 PM Message:
Reid, paying...with a pig or home canned food.
How many tenants actually have livestock (not pit bulls).
Something even more rare, how many know how to can or even own a pressure cooker or can cook?
Ahhh, memories of the Great Depression. --64.148.xxx.xxx |
rentals and the crash (by Robert.Ontario,Canada [ON]) Posted on: Oct 29, 2009 1:10 AM Message:
For Canadians not so long ago the Canadian Loonie dollar was only worth $0.68 versus the Us dollar. Now the Canadian Loonie is approaching parity with the Us dollar. The first effect when ones currency declines is it costs more to travel abroad and buy imported goods. A lot more companies start to manufacture domestically as they can complete with imported goods. A lot of companies never improved efficiences as they thought the Canadian Loonie would reach parity with the Us dollar. So far as owning rental apartment buildings the hostile provincial government has more effects then what happens to currency. When the roofs where changed on the apartment buildings all the work and materials where done domestically not imported. The steel used for the roofs all came from within the province. So the lower dollar had no effect. The main problems with owning rental apartment buildings is the hostile provincial government, rent control, diificult to evict tenants who don't pay, illegal apartments in houses which all levels of governments refuse to shut down until there is going to be a major loss of life. Sooner or later the currency will start to rise up as the economic advantage is slowly being wiped out. --74.220.xxx.xxx |
rentals and the crash (by Reid [KS]) Posted on: Oct 29, 2009 2:07 AM Message:
Theresa you've got a good point people very rarely even have garden any more and a Big Pressure Cooker doesn't hardly sell anymore at a yard sale or auction probably because no one knows what to do with them. If the bottom falls out it'll be a little late to get the life skills that people used to start learning from the time they started to walk. many people scoff at teaching kids things like cooking, canning ,sewing ,gardening ,carpentery, basic animal care and the like . all good things to know if only as a hobbie or pastime. Oh well ..... --70.252.xxx.xxx |
rentals and the crash (by Alex [IN]) Posted on: Oct 29, 2009 3:36 AM Message:
An unstable economy is not good, owning rentals or not. Inflation will steal savings, yet make debt less burdening. Hence, an easy federal government way of lessing their massive debt. Stagnation, just lowers the standard of living and economic opportunity for all. Government spending or stimulus generates a false economy. Temporarily making jobs only to blow away upon loss of stimulus i.e. Cash for Clunkers. Government is also, (thinking themselves clever) regulating jobs. This the Green Energy stimulus. Government disruption if horrible and will damage economy, but meanwhile a proud politician can convince public and strut around taking credit for creating Green Jobs.
Regulators, lawmakers, and Judges will bankrupt Landlords if economic tough times. These political opportunist can not discipline themselves to fairness as just to easy and at no cost to themselves to offer compassion. If you have little cash flow, forget it. If your very self sufficient and live in area not so progressive....you will survive to fight another day. Make big money...no way. Landlord's not a PC type of business. They generate no compassion upon our political system. We have no power upon our corrupt political hegemony.
The current Administration MO is to strike out agaist easy PC targets, make them into villains, and in the process make themselves popular. This the typical ploy of tyrants i.e. Chavez upon Capitalism. Landlords not low hanging fruit for this activity, but a very attractive one. Government can easy exploit them per regulations and tax law. Look to old buildings being hammered with "Green" regulations and health and safety regs as they make jobs at Landlords expense to voter constituencies. Same with lawsuits as the Trial Lawyers want a piece of the action. IRS will clamp down on Capital Gains, making life long investments worth less. Federal Government needs to pay debt and will leave no business operation untapped. Especially, those whom make profits off the poor. --4.229.xxx.xxx |
rentals and the crash (by Smokowna [MD]) Posted on: Oct 29, 2009 3:59 AM Message:
You know I read what is written not in a negative view, but rather am happy that I can see this coming and plan for it.
I think I am going to draft an exit strategy out of the high property tax areas. It takes years to sell.
I'm having a great recession, if I were to sell some, and then start buying again, I would be better off than holding and folding.
For now, all is well and I have set high rent records......but I think the local taxing authorities keep saying the same thing.
--71.191.xxx.xxx |
rentals and the crash (by IN [IN]) Posted on: Oct 29, 2009 5:42 AM Message:
When a Union worker , or a minmium wage worker gets a raise everything else will go up in price.
When things get tight, things get cheaper including workers wages.
When you look at things, it what you save that you really can call your wealth.
--68.58.xxx.xx |
rentals and the crash (by Jeff S [MI]) Posted on: Oct 29, 2009 6:35 AM Message:
If the dollar crashes, it will be a bigger problem that just NM ..... (NM specific question) ..... --207.238.xxx.xxx |
rentals and the crash (by del [MD]) Posted on: Oct 29, 2009 6:44 AM Message:
Here is my "crash plan" for what it is worth. I am selling my upscale rental and using the proceeds to pay off the two low income rentals and my home mortgage. By the end of this year I will be totally debt free. I never carried a credit card balance and buy cheap used cars. With no mortgages, I will be able to cut rents to the bone and keep the units filled to fend off squatters and copper thieves. In a total meltdown, I will double board the units, blow the pipes with a compressor and come back when the dust settles. Some may consider this a wimpish tactic cuz I am not buying madly. The national debt that the Ponzi Scammers on the Potomac are racking up will NEVER be repaid. The only option for the goobermint is to hyperinflate or involuntarily convert T bills to 30 year, low interest bearing notes. My guess is hyperinflation since it is so easy to do. Good Luck --72.85.xx.xxx |
rentals and the crash (by Jean [OK]) Posted on: Oct 29, 2009 8:37 AM Message:
I've given this a lot of thought as I wrestly with whether to sell or hold. Everything paid off, decent income, interested buyers.
But I would be giving up 17 acres that includes a pond with fish, a self-contained sewer system, well, garden, fruit trees, land enough for a few cows, pigs, chickens....in other words, land like what got my relatives through the depression and more.
What might this place be worth to my son or three young grandsons in a worst case?
I think about it every day, and so far haven't been able to pull the trigger on folding. --162.39.xxx.xxx |
rentals and the crash (by Steve [FL]) Posted on: Oct 29, 2009 9:28 AM Message:
I think there are so many dynamics it's tough to tell what would happen. But saying that, I think having sufficient reserves to pay off debt is the best plan. To get there requires much thought and methodical actions. Maybe selling one or two to be in a position to pay off others.
Of coarse the ultimate death knell for property ownership is taxes...and maybe insurance. But if one carries no mortgage, then even insurance is not of much concern. But taxes can kill an investment quicker than anything else I know of. An article I recently read from the AP made mention of the wealthy leaving NY in noted numbers. They've got a long way to go but the mustard seed of ever escalating taxation has been planted and grows exponentially with each newly elected politician....and some incumbents. --67.166.xxx.xx |
rentals and the crash (by Steve [CO]) Posted on: Oct 29, 2009 5:29 PM Message:
Just buy and hold. The 70s the dollar went to hell and inflation was at almost 10%. RE held up well and rents went up. Nothing is for sure, yet I can tell you this you are better off in RE then stocks --71.208.xxx.xxx |
rentals and the crash (by MrRational [MD]) Posted on: Oct 30, 2009 8:49 AM Message:
so long as all that high cost gold is being exchanged for us currency... I'll stick with "Cash is King".... and I'll stick with owning is better than owing.
the other maxim is "you have to live somewhere" which applies to us as well as tenants (which there will be more of than ever before)... own as much outright as you possibly can and as much leveraged to the eyeballs as you can get away with.
If the $hit ever really hits the fan none of this planning will be worth a d_amn and when it doesn't (it really isn't likely to no matter what rush and the teabaggers are telling you) you'll still own what you always did and have more equity in the others.
--65.127.xxx.xxx |
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