i dont think selling is a good idea. refinancing is better for liquidity. people dont udnerstand, but the minute you sell, you have to pay comission and closing costs that’s roughly 7% of selling price. then you have to worry about paying capital gains on your profit so that’ll eat up maybe 10% of selling price. you also lose a lot of tax deductions. jus refi it for 30 years at a low rate. that is the smarter choice. some people go the 1031 route when they want to upgrade their low tier real estae.
as far as boujey places, i think they have more room to stay strong. most high quality people are still employed and working from home. the bigger issue are the low quality people. so im thinking of tenements. la for example, over 65% are renters. and 65% of them also dont have 500 emergency money. and now 20% of them are goign to be unemployed. so a bunch of them are not making their payments soon. the owners will not be able to evict them so they will essentailly live rent free. utilizations rates will drop, and so will cap rates. and the owners, if they lack liquidity, will have to do some form of loan mdofication or sell their ■■■■ property.
i know of a couple that work at hotels and lost both their jobs. they went from a 2.3k rental to 1k rental. now that 1k rental was prolly 1.2k at least before. now would you think of that, the owner accepted a tenant who had no job for the unforeseeable future. hows that for risk management. ppl are hurting. and the ppl that will hurt hte most are the ones with the hoas. they are going to unload. u know its a real estate downturn when those guys go down.
what a lame ass terrible response. I guess white people go and tan themselves looking like roasted pigs in the beach to look more Latino/Indian/African whatever.
Welcome back, Monkey. Would you care to hurl any personal insults or maybe some more bigoted remarks before you’re banned?
Please try to get in as many as possible. Once the WC goes exclusive, you’ll never get to comment again.
Let’s turn that on ASAP
Lol i will honestly miss this recurring theme of trash talk!