If You Own Rental Properties, Watch This (Should I Sell My Rental)
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- Опубликовано: 19 ноя 2023
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Nothing happened to me in 2008 I already owned a home, I did not have stocks, my savings did not go down, but I did feel sorry for people who bought homes when prices were high and suddenly worth much less with high mortgage. Everyone should have an opportunity to own a home, it is the greedy investors that ruin it for the little guy.
I bought a 230K townhome during the 2008 crash for 159K. ready to buy another during the next crash.
@@IsaacGlassey I bought my first house in 2011, definitely ready to pickup another property in the next crash.
Every crash brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to seven figures amid crisis, and even pull it off easily in a favorable economy.
Unfortunately the people that defaulted in 2008 recently got their credit scores back to where they could get back in for a repeat.
@@RaymondJames-qu7zc I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash.
We own all our rentals outright. No loans. So any rental payments are profit, minus repairs, insurance and taxes. The value of the homes doesn't matter. Overtime, the property value will increase, minus the temporary crash here and there. If there is a crash, then we go on a spending spree with accumulation of more rentals from the cash we have stashed aside, monthly rental income and unused equity of our rentals and thus more funds to buy.
Agreed
My late uncle invested in three income properties in Los Angeles many years ago. He could have been fllthy rich but he made two mistakes. The first was doing several cash-out refi's to finance his spendthrift lifestyle. The second was to sell two of his properties to pay off personal debt he had accumulated. He never should have sold. My aunt inherited the last one after he died and is set for life.
This is exactly what I did, I did it to soon because the property I sold went up another 125K after I sold it. I took the proceeds and paid off every bill I had and paid down the mortgages on other properties, then I refinanced my home at 2.99% and pulled out enough to pay off my rentals. I started aggressively paying my home down because I have great cash flow and then I stopped and have been building a down payment for more rentals after the crash.
Never sell your assets...
If you are paying the bills OK, never sell..
Just raised rent on the tenants. Higher rates mean more people will rent meaning rents will go up due to more rental demand. Higher rents mean more income to put towards buying more property.
Thanks for this. I love your channel. And I love how you simplify the real estate concept. I’m trying to wrap my head around how this all works and you’re an amazing teacher. Thank you greatly!
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
As a newbie you’ll need to invest in a company that is working towards sustainability,like that ofexpert Angela Mae McClain,and her abilities in handlinginvestments are top notch
Ninja. I think this is good advice in a cyclical market; Like yours but in my market which is not a cyclical market and you cashflow 2300/m on a 225k property with debt. It make no sense to sell your assets. However if I was in a cyclical market I would be playing the game differently. Also George gammon talked about his experience in the last recession he had paid off property and was trying to leverage in 2009-2012 and the banks wouldn't borrow him money on his paid off property that had renters because they were scared. So my opinion is keep you cashcows, thin your herd of the mediocre assets. Change my mind?
Selling your cash flowing real estate portfolio with the plan to turn around and buy back in is generally risky and inadvisable. That’s not real estate investing. That’s flipping, which has merit, but should not be confused with investing.
Maybe if you just bought at a super high price AND super high interest rate and thought that you were over extended, it might be worth selling, but I can’t see any other reason to get out of your properties that are generating cash positive rents.
My rents are low and I have all my tenants by their short hairs. I will be keeping my properties and acquire more.
Da Ninjaaaahhh! 🎉😮❤
Thank you! Good discussion. I've wondered about that situation.
Thanks
Welcome
Love the sax music at the end and the cool ideas about consolidation.
GOOD POINTS
Thanks Ninja!
Bravo!
I own a rental property that nets me $350/month after the gazillion expenses I have to cover…and which I can’t actually spend because if something breaks, how will I pay for it? For example, if the ac unit breaks, that’s 2 years worth of “profits”. People keep telling me it’s an “investment”, but I really don’t see what all the fuss is about.
Awesome Video / thank you Ninja
Good stuff
Thanks for the visit
i need to buy a woodstove..got chickens...x tra coffee....
Love both your channels. JFYI Just a note here. The 250 million dollar judgement against BofA for reward points is STILL being done. I am owed 75000 bonus points and have not gotten then since opening two account starting 1.5 years ago.
THANKS..I have 1m points but BOA never would give a card.But like 35 in 13 years..Love my Chases LOL
What happens to The Economic Ninja? I no longer get notifications 📣!
You’re Crushing it today with all your videos.
Thank you ninja 🙏
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Rental real estate gives you 4 levers to win
Appreciation
Cash flow
Taxes
Leverage
So why would you feel a rental if it's cash flowing but it drops in value?
Rental real estate is a long term play , ninja what would those houses you sold be worth now or even a year or two ago?
If your playing the rental real estate game for appreciation alone that is speculating !
Love most of your content but I don't see a housing crash in some markets yeah but the United States is hundreds if not thousands of markets .
42% of houses are paid off
92% are locked in at 5% interest or lower .
People are going to sell and turn around and pay 2x the amount to rent .
Foreclosures take a out a 1000 days on avg .
Just my thoughts I may be totally wrong .
Great video! I nearly lost my rentals during covid, bc govt eviction memorandum, they are trying to ruin the small investors. 3 yrs later, i have not fully recovered all the money i lost due to govt shutting down all the businesses, i also lost 2 jobs and had to homeschool 2 kids...i barely survived that...but im not going to let that stop me! And im not going to let them win. Im fighting like hell to press forward to not miss out on this. I pray i get there and im on top to set myself up for retirement, if its God's plan for me, it will be.
God Bless you, you have that strong American spirit that unfortunately has been crushed in so many Americans. Thanks for motivating!!
"Buy when cheap, sell when expensive." -- George Gammon
Thank you Ninja for sharing your knowledge and experience with us so that we can take advantage of the up coming real estate crash at the right time. 🎉🇺🇸💯
My pleasure!
What about Binden's rent control, give renters a free lawyer, etc. program??
Depends on what State your property is In. In my opinion.
lol Hmmmm :D 5:06
For the algorithm
Thank you!
Its quite complex, but I think if you could get what you want now before december lows and before the uncertainty created by election year, you might come out well if you buy during election year uncertainty in 2024. However there is also the loss of rental income during this time, the 6% costs to sell, and the risk the fed drops rates and prints money to prop up demand before you make the purchase on a lower price property in 2024. So lets say you sell a 300k hoise today. You pay 18k to sell and lose 6k net in rental income. So you have to beat the market by 8% just to break even. If housing falls 25% then you could improve your prosition by 17%. Bit since we are now in a buyers market you might have to discount the home 10% to get it sold. Seems like a lot of extra work (kickimg renters out, cleaning up, coordinating with realtors etc.) for not much gain and it could just not sell before the drop and you are out rental income.
lol the editor did not like your crappy math hehehe :) It's all good just funny. :) Hard to always be accurate on the fly while filming.
So i have 4 homes, no lones on any, one is empty did not sell currently 10k a month in rent
That’s awesome, I have an opportunity to buy homes outright because I don’t want mortgages only rent money! In your experience buy a house first rent or 4plex ? Duplex? Our home is paid off and cars too.
im a rockstar if i tally up everything i own and had it all consolidated in one home it would be 18 bathrooms and 27 bedrooms and 27000 sq. ft. Its fun in my town, I use it like a big playground taking care of my propertys. Plus I get to hear peoples stories when i rent my places out. It sucks when potential tenants dont tell me what i want to hear then have to turn them down. Ninja your awesome Thanks for your time! Im debt free it takes alot of work
I like Ninja hes awesome, people hope you guys learn something from him. And good luck with adventures in life guys and gals. Tip of the hat mate! Have a good day to all, becareful mother nature is kicking our butts lately.
What about Canada? And what if you own one rental?
Thanks Ninja ! Beat the
Al Gore Rhythm ! 🇺🇲
What an awesome deal on the Ninja’s Courses 💥❗️
I wish that I could have got all these courses at this Price. Don’t wait and be late ⏰. Please consider buying this package deal. Blessings,Carlos ✝️🙏❤️😊🇺🇸.
But if you held onto your real estate during 2008 into 2020 then you wouldn’t have to make these videos
you don't get it. you should buy and hold
You missed his point. He sold high, then reinvested in something undervalued, therefore avoiding the 46% loss.
Sell them all, take your equity, then buy more than 10 after the downturn at a bottom. Buy low, sell high.
By then your bank account may have suffered a loss (bail ins), or it will be in cbdcs and they make it difficult to buy. It wouldn't surprise me.
@@wethinkweknowitall T Bills
Thank you Jim. I don't know anything about that, but I'll investigate 😁@@jimshoe402
Capital gains tax?
EN. You've adopted George gammon whiteboard n got you a techie for charts. Stepping up ur game.
But he's not breaking it down with 3 simple steps 😁
@FSUGrad1999 lol. George rocks. N he's outta any "perceived target" area, lol.
Uruguay seems better, sadly.
Real estate is No longer for good investment. Sold most of my portfolio. WH just published National rent control is 3%. There’re many other government mandates that you’ll lose control over your property. Big investment being locked up for low return. Hope your insurances, taxes and other expenses doesn’t exceed rental income.
Sorry ninja! I respect your work but I’m going to disagree with you on this one. We’ll never in our lifetime see an opportunity like we did in 08. Maybe, if our children are lucky, they can capitalize on something like that one day. There to many people on the sidelines with cash waiting to scoop up properties. I hope you’re right and I’m wrong because I will own even more houses but I just don’t see it happening. You’re a good dude keep up the good work!!
1982 KID !!! was there💀💀💀💀💀
1
Plan to buy two more rentals and suck money out of tenants. America is beautiful and, moreover, use other peoples money to live lavishly and pay your mortgages.
What kind of loans do you get? I thought refis are dead?
The wisest thing that should be on everyone's mind currently
should be to invest in different streams of income that don't
depend on the government. Especially with the current economic
crisis around the world.. This is still a good time to invest in gold,
silver, and digital currencies (BTC, ETH.)
It's no longer a story that the world is experiencing a global
economic downturn, I'm so happy that I've been receiving
$50,000 from my $15,000 investment every 28 days
How? Am a newbie in crypto investment, please can guide me on how you made it through.
The crypto market is highly profitable with an expert broker just like Mrs Tammie Renee. I got recommended to her and since then my financial life has been a success
Wow, I'm just shocked you mentioned and recommended Expert Mrs Tammie Renee trading services, i thought people don't know her. She's really awesome
Despite the economic downturn, I'm so happy. I have been earning $ 60,000 returns from my 7,000 investment every 14days.
NO MORE MIDDLE MEN. BYE BYE, INVESTORS. NEW EARTH COMING.