patrick.net

She is correct that you should hold off for now. That is very honest I have to say, not a very common trait in that profession, considering that honesty is biting into her commission.

I get impressed by people who put good virtues and honesty above profit.

in all honesty I dont think it matters. You can buy now and use articles like that as evidence to justify a lower price.
I have articles dated this month that claim 20% drop in prices of course that will not happen in certain areas but you can still use it
to justify lowball offers.

if you buy when the media says prices have bottomed youll be facing more competition and less leeway on prices.

I've been buying with her since 2004. We already have a relationship. I emailed her jokingly asking her if this is her strategy to build more business.

APOCALYPSEFUCK says

If the broker cared, she’d teach you to kill and dig wells with your bare hands, to prepare for the coming cannibal anarchy.

building clever traps to catch my racist neighbor is really much harder than I thought
dead falls are a bitch to set up. bear traps don't seem to really fool anyone except the kids.
I guess I'm going vegan when the Sh!t hits the fan here.

APOCALYPSEFUCK says

If the broker cared, she’d teach you to kill and dig wells with your bare hands, to prepare for the coming cannibal anarchy.

But at least she's looking out for his interests and is at least competent enough to see that prices will fall. I can't find an agent with one of those qualities, let alone both.

APOCALYPSEFUCK says

If the broker cared, she’d teach you to kill and dig wells with your bare hands, to prepare for the coming cannibal anarchy.

Apocalypsefuck, does this forecast has anything to do with peak oil?

Everyone thinks A-Fuk is insane. But its people like him that survive world wars, tsunamis, meteor impact, nuclear terrorism, financial collapse ,etc.

The soviets were lucky in thier financial collapse because the western world was willing to accept any/all immigrants. A pressure releilf valve if you will. And they didnt need to fly to get out , many many are in Europe...

Where will people in Los Angeles go when it ends? everyone will be headed north hungry and starving to death? Some asians will do well, they all snuck out of vietnam on boats with hidden gold, etc.....i dont know any bmw/mercedes driving LA douchbags that could do that - half of them cannot drive stick shift let alone get outta town on a dirtbike or bicycle.... or be able to purify bad water, on and on.....

He's not insane he's just way ahead of the curve. I bet in a few years he's going to have a special section for advice on Patrick.net

Question is - if you can get a positive cash flow from a rental after expenses (Fix up, HOA, Insurance, Taxes, Vacancy) - whats wrong with buying now?

kunal says

Question is - if you can get a positive cash flow from a rental after expenses (Fix up, HOA, Insurance, Taxes, Vacancy) - whats wrong with buying now?

Nothing I guess. For us it just depends on how much down payment we can muster up. And if prices are going to creep downwards, we can potentially have a better cash flow margin. On the other hand, money is cheap now, so I'd prefer to lock in a low rate if possible.

Hi Burritos: I wonder around a real estate agent and Loan Officer site every so often to see what's going on in that world and there are several real estate sales people who are usually full of happy talk, everything is wonderful, you know, the "buy now crowd" and now many are saying we're probably headed for a double dip. I have no idea if we are or not, I don't have a crystal ball and a double dip doesn't affect me one way or another, but I found it interesting that even this normally over optimistic sales profession is thinking that we may be headed that way.

rcesar >>> Apocalypsefuck, does this forecast has anything to do with peak oil?

When the insiders throw in the towel....it's called CAPITULATION....

Starting to see signs of this ....
Hope I'm wrong. Need to see prices come down another 10 percent before I
jump in.

APOCALYPSEFUCK says

If the broker cared, she’d teach you to kill and dig wells with your bare hands, to prepare for the coming cannibal anarchy.

Hah-hah. I always enjoy reading your posts Mr. ApocalypseFuck. When I read them, I hear a shouting voice and hysterical laughing.

hdog says

When the insiders throw in the towel….it’s called CAPITULATION….
Starting to see signs of this ….

Hope I’m wrong. Need to see prices come down another 10 percent before I

jump in.

She's not capitulating. In fact, she's quite busy. She's just telling me to wait. If my tax bill isn't too damaging, I'll probably ignore her advice.

burritos says

If my tax bill isn’t too damaging, I’ll probably ignore her advice.

Burritos, where are you looking/purchasing rental/investment property? Is this property out in Newberry Park/Thousand Oaks area? I have been keeping an eye open for some more investment property in and around Pasadena and Glendale areas, but these days there isn't anything around here that even comes close to cash flowing even with 50% down. The Thousand Oaks area is a little farther away from my home than I normally like my investment properties, but I would be willing to go that far from here if there are any good deals in good neighborhoods. Please try to be specific like zip codes boundries (South of the 101/West of Ventu Park Rd., etc.) Thanks for your help.

rob918 says

burritos says

If my tax bill isn’t too damaging, I’ll probably ignore her advice.

Burritos, where are you looking/purchasing rental/investment property? Is this property out in Newberry Park/Thousand Oaks area? I have been keeping an eye open for some more investment property in and around Pasadena and Glendale areas, but these days there isn’t anything around here that even comes close to cash flowing even with 50% down. The Thousand Oaks area is a little farther away from my home than I normally like my investment properties, but I would be willing to go that far from here if there are any good deals in good neighborhoods. Please try to be specific like zip codes boundries (South of the 101/West of Ventu Park Rd., etc.) Thanks for your help.

I buy my rentals in the Tacoma, WA area.