We've bought hundreds of homes at foreclosure auctions and one thing that we've done with some occupants that are there, especially if they are the prior owners. We've actually sold them the house now if it's obviously in their name originally they can't buy it but often maybe the wife is not on the mortgage or possibly a another relative. And it's been a great win-win situation for the owner or prior owner because now they're getting the property typically for much less than they owed before and we are also making a nice little profit
@@yorsan2240 Florida is a unique beast. Still a lot of blue state refugees with tons of equity to spend. Here in California flippers better make sure to buy real cheap now because peak pricing passed weeks ago.
Smart, this is exactly the strategy that I was thinking if I were to get into real estate. Purchase the cheap old houses and put 50000 still keep it a starter home. When things are under 200000 people want a home. Young families and the market's not catering to that period it means, you know, taking on, maybe some rough neighborhoods, or you know, neighborhoods that haven't been fixed up in 50 years.
High Foreclosures on new high rate loans! As for the rest of us, we are going nowhere. In fact, 82.4% of homeowners have a mortgage rate below 5% and 62% have a rate below 4%, per Redfin. Notably, 23.5% of homeowners have a mortgage rate below 3%, almost the highest proportion with a rate that low on record.
wow 15% owner oc buying now crazy I loved to see the sats on there success rate thanks to all the shows on TV everyone a contactor these days hope they have deep pockets to many pitfall with foreclosures for rookies IMO well see
Thought it was funny that guest thought hosts would not like new Law in Cali that buyers who plan to actually live in the home had 45 days to outbid highest bidder at an auction and could do so by only bidding $1 more, but one of the host was supportive of that policy, as it helps get families who plan to live in the house into them, rather than another investor just looking to profit by flipping to sell or rent. Good on that host to put the needs of families to get a crack at these houses at auction before investors!
Foreclosures should remain below 2019 levels for a while, given all the equity gains. The person who might have been foreclosed on pre-covid can now just sell. So foreclosures might not be the reliable metric of distress that it used to be, but it should revert to being one in a few years.
So what acronym can we use for the new 0% down loans? Nothing scary at all in the new market at 7.5x...nothing at all...just buy before someone else does
Rates fell all throughout the crash of 08. Rates don't mean much if the job market is imploding, and that would be the only reason for rates to fall at this point.
@@CaptainCaveman1170 recency bias. rates and employment have fallen many times in history, it's called a recession, and house prices have maintained well during most of them. You point to 08 but there was a ton of inventory then, so it's not applicable today.
@@boohoohoohoo I would argue you are the one with recency bias, judging by your statement. You feel that a flood of inventory cannot return, because it hasn't recently, but we've never had this air bnb phenomenon occur before, nor have we ever had a massive, disproportionately wealthy generation like the Boomers refusing to downsize, but probably being forced to by Father Time at some point. Humans are humans to think that we (or corporations) are any less greedy, reckless or stupid than we were in previous bubbles would be denying our own historical patterns of behavior.
If by “opportunity” you mean a house, in drug/crime-infested area, that’s priced like new, but is halfway or fully burned down, then yes, stellar “opportunities!” Lol! Go ahead and throw away your money. Be my guest.
AVOID REAL ESTATE! Market crash will occur very late this year or early the next. In the meanwhile expect markets to rise as a new wave of UNFOUNDED FOOLISH OPTIMISM takes over through October of this year. The next crash will occur in stages, so the first leg down will have a very small recovery before the second and third waves hit to take markets down 50% and greater. Keep in mind that in any general market crash the price of housing and gold and silver will also decline. The markets can take a decade to recover; precious metals will recover in only a few weeks or months and then go on to reach new all time highs. My plan is to sell 50% of my silver late in the year, wait for the crash and buy back in at much lower prices.
We've bought hundreds of homes at foreclosure auctions and one thing that we've done with some occupants that are there, especially if they are the prior owners. We've actually sold them the house now if it's obviously in their name originally they can't buy it but often maybe the wife is not on the mortgage or possibly a another relative. And it's been a great win-win situation for the owner or prior owner because now they're getting the property typically for much less than they owed before and we are also making a nice little profit
Is there a foreclosure auctions website or does it has to be done in person? Can you share how you buy the foreclosure homes via foreckosure auctions?
@@sallyho146local courthouse has a website with foreclosure listing
Anybody buying to fix and flip NOW is taking a huge gamble. Many markets have started to (slowly) roll over again.
It depends on how much you get it for, good opportunities go fast ,the same day multiple offers at least here in florida
@@yorsan2240 Florida is a unique beast. Still a lot of blue state refugees with tons of equity to spend. Here in California flippers better make sure to buy real cheap now because peak pricing passed weeks ago.
Smart, this is exactly the strategy that I was thinking if I were to get into real estate. Purchase the cheap old houses and put 50000 still keep it a starter home. When things are under 200000 people want a home. Young families and the market's not catering to that period it means, you know, taking on, maybe some rough neighborhoods, or you know, neighborhoods that haven't been fixed up in 50 years.
High Foreclosures on new high rate loans! As for the rest of us, we are going nowhere. In fact, 82.4% of homeowners have a mortgage rate below 5% and 62% have a rate below 4%, per Redfin. Notably, 23.5% of homeowners have a mortgage rate below 3%, almost the highest proportion with a rate that low on record.
First time listener to this channel. Very good guest, very articulate and easy to listen to.
Oh wow! I grew up in Kansas too. 👋🏿
People who bought high in 21&22 with FHA are already selling their houses (realization of cost).
wow 15% owner oc buying now crazy I loved to see the sats on there success rate thanks to all the shows on TV everyone a contactor these days hope they have deep pockets to many pitfall with foreclosures for rookies IMO well see
Maybe I missed some of the guests nuances, but foreclosures are still below 2019 levels. I pull the data myself.
Thought it was funny that guest thought hosts would not like new
Law in Cali that buyers who plan to actually live in the home had 45 days to outbid highest bidder at an auction and could do so by only bidding $1 more, but one of the host was supportive of that policy, as it helps get families who plan to live in the house into them, rather than another investor just looking to profit by flipping to sell or rent. Good on that host to put the needs of families to get a crack at these houses at auction before investors!
I’m just learning, but aren’t the numbers artificially low because of eviction moratoriums?
Foreclosures should remain below 2019 levels for a while, given all the equity gains. The person who might have been foreclosed on pre-covid can now just sell. So foreclosures might not be the reliable metric of distress that it used to be, but it should revert to being one in a few years.
So what acronym can we use for the new 0% down loans? Nothing scary at all in the new market at 7.5x...nothing at all...just buy before someone else does
Where are you finding homes at that price point? A fixer-upper in Portland Oregon is five or $600,000.
36:20 i dont get it. why would there be more price correction in the future when everyone is predicting mortgage rates to fall by 2024?
Rates fell all throughout the crash of 08. Rates don't mean much if the job market is imploding, and that would be the only reason for rates to fall at this point.
@@CaptainCaveman1170 recency bias. rates and employment have fallen many times in history, it's called a recession, and house prices have maintained well during most of them.
You point to 08 but there was a ton of inventory then, so it's not applicable today.
@@boohoohoohoo I would argue you are the one with recency bias, judging by your statement. You feel that a flood of inventory cannot return, because it hasn't recently, but we've never had this air bnb phenomenon occur before, nor have we ever had a massive, disproportionately wealthy generation like the Boomers refusing to downsize, but probably being forced to by Father Time at some point. Humans are humans to think that we (or corporations) are any less greedy, reckless or stupid than we were in previous bubbles would be denying our own historical patterns of behavior.
What's funny is the youth of America telling me my life was horrible are now trying to achieve that same lifestyle
If by “opportunity” you mean a house, in drug/crime-infested area, that’s priced like new, but is halfway or fully burned down, then yes, stellar “opportunities!” Lol! Go ahead and throw away your money. Be my guest.
I been filling home for 9 years and very scared right now to get anything.
Why more of a correction than a crash? Explain.
AVOID REAL ESTATE! Market crash will occur very late this year or early the next. In the meanwhile expect markets to rise as a new wave of UNFOUNDED FOOLISH OPTIMISM takes over through October of this year. The next crash will occur in stages, so the first leg down will have a very small recovery before the second and third waves hit to take markets down 50% and greater. Keep in mind that in any general market crash the price of housing and gold and silver will also decline. The markets can take a decade to recover; precious metals will recover in only a few weeks or months and then go on to reach new all time highs. My plan is to sell 50% of my silver late in the year, wait for the crash and buy back in at much lower prices.
I like the guy, but why does dude have a big picture of himself on the wall, cringy
Hahaha! I think it's one of those mobile billboards speakers use at events or workshops. I forgot the proper name.
It’s all good, I’m just giving him a hard time
Let's go, Brandon.