Anyone thinking of buying real estate in 2021？

[fastlanedoll]

Supposedly, it will 'crash'.

Where would you place your bets?

 

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[Odysseus M Jones]

Where would you place your bets?

On red...

 

[fastlanedoll]

damn.

 

[Deleted78083]

I said jokingly that the next place i would move into would be mine. So, if i find a way to make 10 000 euros this year, i could buy something.

 

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[SPM_ENT]

I live in Los Angeles and just bought a property close to Nashville TN. I felt confident in doing so because of the mass exodus from California to cheaper options. It's a long-term play for me, the market will go up and down but as long as I don't sell when it's low I'll be fine. It's still a gamble considering who knows where the country will be 30 years from now but I can't do much about it so I try to plan for the best.

 

[GatsbyMag]

I've been told real-estate will no longer be as lucrative as it once was and that the future is in investments into cryptocurrency.

 

[lowtek]

I've been told real-estate will no longer be as lucrative as it once was and that the future is in investments into cryptocurrency.

lol, oh boy. I don't have anything against cryptocurrency. I love the concept.

But this statement is just absurd. Sure, crypto could be the next big bubble as real estate once was.. that's certainly possible. That just makes it a better speculative asset until the bubble pops.

People will always need a roof over their heads, and most have to rent. We managed fine for many eons before the invention of crypto.

I'd say own both, in degrees that match up with your risk tolerance, but don't count on crypto as a money tree strategy.

 

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[lowtek]

My wife and I have been watching properties in other states to add to our small portfolio of rentals. We've started to see properties sit longer and prices start to come down. I think this process is just beginning, as we're at the start of a major economic downturn. If the incoming admin makes good on its promise of a 6 week shutdown, this process will only accelerate.

This is good news for those of us that use real estate as cash flowing assets. Probably bad news for those that flip, though I don't know because I don't have direct experience with that.

 

[ljean]

I'm always buying if I can find a solid deal.

 

[Fox]

Yes! I’m planning on getting my first rental properties this year.

 

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[fastlanedoll]

I want to buy, but I'm nervous about investing overseas. I want to invest in the States.

Real estate lags behind the market bottom by like half a year, no?

What if I invested in REIT? Would that be the same? Are they safe?

I have only one rental property and have never invested in a REIT.

 

[Envision]

REIT's dont provide some of the benefits of owning the property yourself as it is a stock and not a property.

If you're looking into REITS i would buy self storage or industrial reits as those tend to be more recession resistant. Extra Space and Public would be the biggest ones.

If you're not comfortable buying then dont. Discomfort and fear come from not knowing. The more you learn the more those things will subside and you can spot opportunities for success.

 

[JordanK]

I'll be buying this year in Ireland. Looking at the UK or US into the future too.

 

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[WJK]

Supposedly, it will 'crash'.

Where would you place your bets?

These cycles are a normal part of the RE business. I've seen several over the years.

FYI, I'm on hold right now. I'm doing a couple of rehabs that I already own, but no new buying. I usually would be buying privately-held trust deeds between January and into March. But, not this year -- until things settle down. Cash talks and BS walks!

Like I've said before, people are herd animals. They move together. I'm waiting to see which direction they are going to head next. Then I will know exactly what RE moves to make.

I'm really head shy about the market right now. Several segments are falling apart -- especially in the commercial properties sector. (This slide can easily cascade into other categories of RE.) And, I don't see these market altering trends turning around anytime soon. Our lifestyle norms and needs are changing -- which directly reflects in our RE market. We vote with our feet, our dollars, and our shopping habits. I keep wondering what we're going to do with all of those retail, office, and mall properties. Can we convert them to another use -- or must we bulldoze them? Do we need to rethink our basic land use planning? The ratios in the different land use segments are changing. All this had been happening for a long time. The virus this year have just accelerated the changes.

I can't tell where things are going in RE right now. I just don't know.

 

[LifeisSuffering]

lol, oh boy. I don't have anything against cryptocurrency. I love the concept.

But this statement is just absurd. Sure, crypto could be the next big bubble as real estate once was.. that's certainly possible. That just makes it a better speculative asset until the bubble pops.

People will always need a roof over their heads, and most have to rent. We managed fine for many eons before the invention of crypto.

I'd say own both, in degrees that match up with your risk tolerance, but don't count on crypto as a money tree strategy.

That sure that people will always need a roof over their heads. but what do you think about 3d printed houses? is it going to disrupt the market of real estate? because it will be more offer than demand, I know is not going to happen the next month or next year but I would like to know your opinion about that. @lowtek & @JScott @Envision

 

[EvanOkanagan]

Our market appeared to be already at the end of the boom phase prior to COVID. Sold our primary residence last month and have also been banking cash for a while for the upcoming correction.

Likely buying another primary residence along with a few more rental units this year or early next depending on how things go. My gut tells me April-November 2021 is when we'll see the good deals (in my market at least). No crystal ball here though, but ready on the sidelines.

 

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[LifeisSuffering]

I don't know about 3D printed houses, but I agree that stick-built is likely going to give way to more pre-manufactured components in the near future. I have a couple investments in startup companies focused on doing plant fabrication and then on-site assembly -- this reduces cost and waste considerably, which is the next step towards highly scalable building technologies (in my opinion).

Yeah, 3d printed houses in the RE industry is like the crypto in the banking industry, many people see it as the future and many think that it can't go mainstream.
Yeahhhh stick-built approach, I think it only take 24h to build a one bedroom house 30 m2( Around 322 SQFT) . But it's only used for emergency houses after storms or earthquakes.

 

[Onakosa]

Yes! I’m planning on getting my first rental properties this year.

Will those be in Ireland, Rob? Asking as I’m half-thinking of buying there (Cork).

 

[Fox]

Will those be in Ireland, Rob? Asking as I’m half-thinking of buying there (Cork).

Ya - around the Galway area. Cork is very nice but a little too far from where my family is based.

For those outside Ireland - it’s quite strict here. A property loan three years of profitable and consistent business accounts to get loan approval.

Since my business was originally based in Canada I am only starting to qualify now.

Also for an investment property it’s 30% down.

 

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[Tilos]

I've been told real-estate will no longer be as lucrative as it once was and that the future is in investments into cryptocurrency.

I'm a real estate investor here in OK. I'm holding onto my rentals, and they are still cash flowing amid the pandemic. I got into crypto a few years ago, and holding a little BTC and mostly alt coins. We shall see how it goes as companies are slowly adopting crypto payments. I know many online retailers, such as Amazon accepts crypto.

Definitely Blockchain has it's advantages being decentralized versus the bank which is centralized. Transactions are faster with crypto and more secure from what I've experienced. I'll be HODLing my coins and see what happens. Crazy times for sure...

 

[Deleted50669]

I live in Los Angeles and just bought a property close to Nashville TN. I felt confident in doing so because of the mass exodus from California to cheaper options. It's a long-term play for me, the market will go up and down but as long as I don't sell when it's low I'll be fine. It's still a gamble considering who knows where the country will be 30 years from now but I can't do much about it so I try to plan for the best.

Everyone in SoCal is moving to Nashville or Austin, you may end up with the same neighbors.

 

[Mutant]

I've been looking to buy for a while, even put in an offer a few weeks back, but it got rejected. It was within the guide price as I knew there was another offer on the table also within the guide. Both got rejected as the owner (a professional landlord) wanted more. They since changed the guide, but it's still on the market. Sat empty/being airbnb'd. Will call again if it continues to remain on the market to remind them they could accept my offer & move on with their lives (he has a rather strong case of "not knowing or caring" about the property, & it's the last one in that building he's selling off. He obviously cares about the money though). Am keeping my eyes peeled in the mean time.

 

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[Mutant]

Everyone in SoCal is moving to Nashville or Austin, you may end up with the same neighbors.

And a lot of San Francisco/Silicon Valley on Twitter seem to be debating between Austin & Miami.

They mayor of Miami seems to be treating his city like a hot new start-up. It's interesting to watch.

And Austin's picking up steam, but was already rolling.

 

[Deleted50669]

And a lot of San Francisco/Silicon Valley on Twitter seem to be debating between Austin & Miami.

They mayor of Miami seems to be treating his city like a hot new start-up. It's interesting to watch.

And Austin's picking up steam, but was already rolling.

Miami is currently NYC's corporate target, for tax purposes.

 

[sfarieri]

I've been told real-estate will no longer be as lucrative as it once was and that the future is in investments into cryptocurrency.

Disagree with this. Nothing against crypto either, but real estate isn't going anywhere.

 

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[James90]

I'll be looking at an investment/vacation home in Vietnam.

I anticipate to be traveling there more often, once borders open and would have my own place and rent it out on Airbnb while i'm away.

Also keeping an eye out on 2nd & 3rd tier cities in the U.S. for investments.

 

[Seamster]

In my small city real estate is quite a bit cheaper than the state's biggest city over an hour away. But, rent here is $500/mo. And I work in the big city so I get $70k for my job and I'd only get $40k here. And I don't have to pay the $1500 rent over there!

This small has never been like this until 2020: bid-above-listing price. Those are big-city terms! I bought one house this year. Listed at $28k and I needed to go up to $35k to win. It's my 8th house. I'll get $325/mo cashflow. In January I was about to give up RE investing. But, I found a niche and a way to find good tenants, so now I'm excited about the future again. When I get 12 of these I'll quit my job because it should bring me to my goal of making $3000/mo without working.

But I won't be done yet. I'll have cash at that point and I'll partner with other investors to finance flips. You know, loan someone $10k and expect $15k back. My time should be freed up by then and I can focus on my cell phone app. Five years in my brain and no one has created anything like it yet. If someone makes it, I'll be relieved, actually. And I'll be the first to download it. But, I'm not going to do it until I can quit my job.

Anyway, as you can see, the cost of real estate doesn't affect me. I bought some houses for $15k. Those houses are now $30k so I have to spend more to by them. Oh well. I'll keep truckin'!

 

[Kal-El1998]

I would...but I'm just concerned on new gov regulations...only time will tell.

 

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[Sethamus]

Put an offer on a flip a month or so ago that I got outbid on. Owners came back to me to say the winning offer fell through after 30 days..but it was because the lot wasn't able to be split which is what I needed. Prices are still good in my local area. Neighbor just sold their house in 2 days with multiple offers.

 

[Guest-5ty5s4]

I'm under contract on a personal home. Previous owner passed away, kids want to sell it, it needs some work. Realtor friend brought it to me off market.

Tax value is $300,000. I offered $200,000 and they accepted (only putting 10% down). Getting it inspected soon. Plan to live in it while fixing it up for 1-2 years then sell it for tax-free capital gains.

Comps justify my projected selling price. Just praying the inspection doesn't show anything too outrageously bad (I have a foundation guy at the ready, but if it needs too much, I'm out).

I have a lot of irons in the fire... Struggle with business monogamy, lol. I like to be firing on all cylinders and optimizing everything, but of course, life isn't that simple.

edit: should be closing this week! I get a great fixer upper that will become a very nice home in a desirable neighborhood, and a lot of tax-free upside when I'm done working on it.