Sunday, September 20, 2020

Frozen Foreclosures are happenning!

Even though I do NOT list or sell Single family homes as a Commercial Real Estate Broker, I do follow and occasionally buy homes for my own sake.

And with the economy headed into the toilet, again. (Thank You Donald Trump!)
I have heard that there are thousands of homes in pre-foreclosure. This means the home owner hasn't made any mortgage payments for months. Thus, here is one explanation:

The temporary freeze on foreclosures applies to Fannie- or Freddie-backed, single-family mortgages only. The pause on evictions applies only to tenants who live in properties that have been acquired by Freddie or Fannie through foreclosure. It does not apply to tenants in homes that have not been foreclosed on.Aug. 27, 2020

So, with homes about to be foreclosed upon; and the amount of homes already foreclosed but still being occupied by the owner or tenant, we are going to see, probably at the beginning of the new year, another tsunami of homes for sale via foreclosure or portfolio sales just as we saw in 2009.

So, if you are a home investor, kind of like me, you are going to see another opportunity like in 2009, to acquire rental properties on the cheap.

Since I was looking to buy another rental property this summer, the wife and I decided to hold off to see just where prices were headed.


I think down.

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Tuesday, September 15, 2020

Nothing like Heading Full Throttle Right into an Economic Depression

I am predicting economic disaster coming our way full throttle in the coming New Year of 2021.

To me, what Donald Trump and the Republicans have done with their Tax Cuts, is going to leave us hanging and will result in a large economic collapse than we had in late 2008 and early 2009.

Am I being pessimistic?
Yes!

Will many people be losing their homes again?
Yes!

Was Donald Trump the wrong person to be President?
Yes!

And, his lack of leadership during this pandemic, has only fueled the fire.

I am guessing it will take more than a year to recover from such a devastating result of his incompetence!

Disagree?
Ok!

To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Tuesday, September 8, 2020

It's Time to Acquire a Downtown Las Vegas Apartment Building

With the way everything is going, and with Downtown Las Vegas in need of housing, here is an opportunity for a small investor to make some money.

OK, you could make a lot of money, but you have to be patient. (If you are NOT patient, you won't make any money.)

a 42 unit apartment building, that had a fire, will begin renovation at the end of September, 2020.  The contractor says it will take him six to nine months to repair, renovate and improve the fire damaged building.

The Alpine Motel Apartments

That's right!  The Alpine Studio Apartment building is ripe with profit!  IF you make an offer now, let it sit in escrow while being repaired, then close upon it's completion.

And, if you wait too long, once fully occupied at +/-$900 per month per unit, the market value of this apartment building becomes +/-$4.2 million or more!  (That would be your loss!)

Now, right now, you could put this property in escrow at $3.3 Million, wait for the construction to be completed, then close before leasing.  And the Close of Escrow could be contingent upon the City of Las Vegas approving residents occupying the building once again.

Questions?

Contact David Howes: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!