Housing market

Campeon · Jul 4, 2021

Now is the time to pull profits from any real estate you own.

This time next year that 600k house might be selling for $195k ... seriously ... it will
correct to fair value soon..

maldorf · Jul 4, 2021

Campeon said:
Now is the time to pull profits from any real estate you own.

This time next year that 600k house might be selling for $195k ... seriously ... it will
correct to fair value soon..

Great time to sell for sure. I wish we owned some extra real estate. Here in our neighborhood are selling in 1 or 2 days and for about 5% to 10% over asking price.

FrancisK · Jul 4, 2021

Biggerp73 said:
Start a Nashville Hot Chicken restaurant in any decent size city that doesn't already have one.

I've been telling my friends with money to do this since 2017. Back then there wasn't a single restaurant in the entire bay area and northern California. Since then I have watched several locations open, every single one of them stays busy with lines out the door everyday, and end up opening multiple locations, all of them just as successful as the first.

The chicken is so delicious, any town that doesn't already have it, is virtually guaranteed to give excessive ROI for whoever brings it there first

A restaurant is just buying yourself a good job I don’t care how busy you are, trust me I know lots of people stuck in them. Most fickle low ceiling bottomless floor business possible. You’ll be slammed one month and out of business the next for no reason whatsoever and when you were slammed you didn’t make enough money to ride out the bad months. I know more than one example where guys shuttered restaurants that were very busy just because it wasn’t worth the opportunity cost anymore, you have to marry a restaurant.

benchmstr · Jul 4, 2021

MAD_SCIENTIST said:
With all that is said, how should one invest their money in? What should one buy?

MS

Buy a small apartment complex and live in it to get your start…if I could start over that’s how I would have started..or a duplex or triplex

ripriot · Jul 4, 2021

Cito33189 said:
Inflation has caused the cost of lumber to sky rocket. Houses are up 30% or more prepandemic. It’s really sad the direction our economy is going. Minimum wages are increasing almost yearly now but everything else is rising as well.
What I can’t wrap my mind around is my grandfathers generation or even my dads generation( early 60’s).
I watch a lot of vehicle restoration programs and they always say in 1968 or 1972 the Dodge Challenger or Chevrolet Camaro sold for 3599 brand new or something like that. So back then were teens like o man that’s ridiculous I’ll never afford that.

The pandemic caused the lumber futures to rise to all time highs. One of the most desired employees right now are saw mill workers. They don’t have a labor pool to hire from. Electrical wire is up 130% to. That’s not from inflation either

Cito33189 · Jul 4, 2021

Miss use of the word, my apologies. Not inflation.

Cito33189 · Jul 4, 2021

I live in San Diego I can’t afford a house either way. 785k for a 480sq ft.

4359 Temecula St, San Diego, CA 92107 | Zillow

4359 Temecula St, San Diego CA, is a Single Family home that contains 480 sq ft and was built in 1950.It contains 1 bedroom and 1 bathroom.This home last sold for $785,000 in December 2020. The Zestimate for this Single Family is $1,218,800, which has decreased by $41,906 in the last 30...

www.zillow.com

ripriot · Jul 4, 2021

Cito33189 said:
I live in San Diego I can’t afford a house either way. 785k for a 480sq ft.

4359 Temecula St, San Diego, CA 92107 | Zillow

4359 Temecula St, San Diego CA, is a Single Family home that contains 480 sq ft and was built in 1950.It contains 1 bedroom and 1 bathroom.This home last sold for $785,000 in December 2020. The Zestimate for this Single Family is $1,218,800, which has decreased by $41,906 in the last 30...

www.zillow.com

San Diego and Long Beach is nice but I could never live their!…

Biggerp73 · Jul 4, 2021

FrancisK said:
A restaurant is just buying yourself a good job I don’t care how busy you are, trust me I know lots of people stuck in them. Most fickle low ceiling bottomless floor business possible. You’ll be slammed one month and out of business the next for no reason whatsoever and when you were slammed you didn’t make enough money to ride out the bad months. I know more than one example where guys shuttered restaurants that were very busy just because it wasn’t worth the opportunity cost anymore, you have to marry a restaurant.

That's what my friend in Austin told me in 2017 and he's missed out on millions of dollars

Two brothers in their early 30's just opened a spot next to me last year and within 6 months they opened a second

Nashville Hot Chicken isn't like other restaurants

Check out the lines at any Hattie B's, or Howlin Ray's, etc

These places have been open for a decade and they are still packed out the door one hour wait at the beginning of the day on a weekday

machomadness22 · Jul 4, 2021

Cito33189 said:
I live in San Diego I can’t afford a house either way. 785k for a 480sq ft.

4359 Temecula St, San Diego, CA 92107 | Zillow

4359 Temecula St, San Diego CA, is a Single Family home that contains 480 sq ft and was built in 1950.It contains 1 bedroom and 1 bathroom.This home last sold for $785,000 in December 2020. The Zestimate for this Single Family is $1,218,800, which has decreased by $41,906 in the last 30...

www.zillow.com

Dude my wife is a real estate agent here in wa and now while she sold something that ain’t even close to that ridiculous lol but she sold a 2 bed 1 bathroom.5 acre manufactured home for 380k 50k over asking! Bruh that home you posted and the one she sold would be lucky to get 100k outta me the housing market i can’t even pretend to comprehend for real

pickapeck · Jul 4, 2021

Black Rock VAnguard, UBS Group, JP Moran, Goldman Sachs.. These investment conmpanies have been buying up real estate like crazy. There are about 100 million private delling houses in the US. These companies are buying up by the millions every month and paying 30-40% premiums. Lots of shit going down right now. Farmland ownership has shifted dramatically over he past 10 years and accelerated in the COVID era. You may have heard that Bill Gates is the largest fam land owner now and is also partnered with Monsanto. Smithfields meat company is owned by a Chinese investment company. That's right, the one with shortages and lockdowns and COVID cases. Shit is going down all around us people.

Matsuo Munefusa · Jul 4, 2021

pickapeck said:
Black Rock VAnguard, UBS Group, JP Moran, Goldman Sachs.. These investment conmpanies have been buying up real estate like crazy. There are about 100 million private delling houses in the US. These companies are buying up by the millions every month and paying 30-40% premiums. Lots of shit going down right now. Farmland ownership has shifted dramatically over he past 10 years and accelerated in the COVID era. You may have heard that Bill Gates is the largest fam land owner now and is also partnered with Monsanto. Smithfields meat company is owned by a Chinese investment company. That's right, the one with shortages and lockdowns and COVID cases. Shit is going down all around us people.

Just sit back and try not to get covered with shit when it hits the fan imo

I’m not trying to get rich so I’m not in competition with anybody really. Just own 2-3 houses, a small retirement fund, and live a nice long life.

get it in ya · Jul 4, 2021

Explorerspl said:
Exactly bro, the rich people want you to barely be able to afford the necessities that way you have no extra money left over to buy their products. Because if you can't make enough to buy excess things and buy their products,well that just makes them way more wealthier right.

this is another problem, people blaming the rich. if being rich is so great stop pointing fingers and try to get rich.

btails · Jul 4, 2021

get it in ya said:
this is another problem, people blaming the rich. if being rich is so great stop pointing fingers and try to get rich.

Lol, isn't that what everyone's been doing all along? Don't know anyone actively trying to be poor.

Not being a dick, just sayin'

Bio · Jul 4, 2021

BALDNAZI said:
“Conspiracy” lol. Everything is a conspiracy until it’s not. I laugh at the masses now that called me and others conspiracy theorists and extremists for years. But lo and behold, here we are

You would do yourself a big favor by looking up “The Great Reset” and how investment banking firms all around the world are buying up residential property at up to 50% premiums. Entire new construction developments snatched up and turned into rental property. Blackrock isn’t the only one. What’s the purpose? You’re smart enough to figure it out, your research will amaze you.

In any case, this thread will get closed inevitably because we can’t have the truth get out now can we? Haha, we live in interesting times indeed

Dude really? We're censoring the truth?? The board has rules regarding certain subjects and when those subjects get talked about they get deleted! You've certainly been here long enough to know that but instead you attempt to start a rumor/conspiracy theory that PM censors the truth when in reality it's a rule violation. I'm sure there are plenty of forums out there where you can discuss the things you want to discuss. Remember, these are Big A's rules and he put them in place for a reason!

benchmstr · Jul 4, 2021

FrancisK said:
A restaurant is just buying yourself a good job I don’t care how busy you are, trust me I know lots of people stuck in them. Most fickle low ceiling bottomless floor business possible. You’ll be slammed one month and out of business the next for no reason whatsoever and when you were slammed you didn’t make enough money to ride out the bad months. I know more than one example where guys shuttered restaurants that were very busy just because it wasn’t worth the opportunity cost anymore, you have to marry a restaurant.

Restaurants are a terrible idea unless you go in with a ton of money or a extremely wealthy backer.

anytime someone talks about a restaurant I always tell them to spend 15-20k (something you can recover from)on a enclosed food trailer and just do that on the side/as a hobby and see what the restaurant business is like before you go several hundred thousand dollars in on a failing brick and mortar

Bio · Jul 4, 2021

GET BACK ON TOPIC REGARDING THE HOUSING MARKET!

w8tlifterty · Jul 4, 2021

benchmstr said:
Restaurants are a terrible idea unless you go in with a ton of money or a extremely wealthy backer.

anytime someone talks about a restaurant I always tell them to spend 15-20k (something you can recover from)on a enclosed food trailer and just do that on the side/as a hobby and see what the restaurant business is like before you go several hundred thousand dollars in on a failing brick and mortar

Not entirely true. I've ran/owned two (I'm approaching 40). If you find the right opportunity, you can make a very nice living. Never had an investor and I grew up very poor. Of the few brick and mortar businesses left that can make money, a food business is certainly one.

It's 7 days a week work and it never stops coming at you but if your sensible and a hard worker, you can certainly make a nice living. 90% of restauranteurs fail bc they live above their means and are poor money managers and can't manage people or business expenses. Plain and simple.

Manage your food cost, find a nice lease or better yet, buy the space (easier said then done these days). Make it a one or two man operation, counter-type service in a blue collar, working man's area. A food truck as you mentioned also viable if the market isn't already saturated. You just have to be smart about it and most don't have a f ING clue.

I'm a single dad to a 7 year old and don't want to miss out on anything w my little girl, otherwise I wouldn't hesitate to own a small restaurant again. As I said, it isn't glamorous, and it's full time, 7 days a week. But, 80-125k net after operating expenses is fairly easy if you're smart about it. It's just most people don't have the business sense or capabilities to understand what and where.

It's not a terrible idea at all for those w common sensibility and who can cook there asses off... great food, good portions and served at a fair price in working class area can and will clear some nice cash.