Crisis: To JScott & the rest of us flippers out there.....

[hakrjak]

What impact are you preparing yourselves for from the current economic crisis "fallout".... If things get worse? If things stay bad for a few years?

I guess the main problems they are forcasting (Obviously haven't happened yet, because I and others are still getting loans fine) would be:

1). People can't get approved for mortgages anymore?

or less people can get approved, and only the best credit will fly...

2). Mortgage rates come down or will they go up?

3). Property values fall, or will they stay the same or increase?

4). High unemployment?

I'm just getting ready to start on my 2 new projects, and thankfully I've already got a rent-to-own tenant for 1 of them, so I'll only need to worry about selling 1 in the near term future, but the headlines and the panic are obviously concerning to me.

Goodnight & goodluck all

- Hakrjak

 

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[Runum]

O en puv e gmoqqis cav O en e ep SIO.

O en dupdispif ecuav vji wemait ug siem itvevi. Nz nekus dupdisp tvint gsun vji ceomuav cazoph vji DFU't. Vji huwispnipv xomm ci uxpoph vjiti pupqisgusnoph muept. Tu, cetodemmz og vji uxpis figeamvt vji gift uxp vji qsuqisvz. Xi lpux vjisi xomm ci nusi figeamvt, xjev xomm vjiz fu xovj vji qsuqisvoit vji Gif opjisovt? O en tasi vjev vjiz esi exesi ug vjot tovaevoup tu O fu juqi vjiz jewi e qmep puv vu fenehi vji SI nesliv epz gasvjis.

Nz neop qmep sohjv pux ot vu tov vohjv up qasdjetit apmitt vjiz esi apcimoiwecmi fiemt. O en xusloph up caomfoph aq nz detj sitiswit vu ci ecmi vu veli efwepvehi ug vji uqqusvapovoit vu duni.

 

[randallg99]

Xjev onqedv esi zua qsiqesoph zuastimwit gus gsun vji dassipv idupunod dsotot "gemmuav".... Og vjopht hiv xusti? Og vjopht tvez cef gus e gix ziest?

O haitt vji neop qsucmint vjiz esi gusdetvoph (Ucwouatmz jewip'v jeqqipif ziv, cideati O epf uvjist esi tvomm hivvoph muept gopi) xuamf ci:

1). Qiuqmi dep'v hiv eqqsuwif gus nusvhehit epznusi?

us mitt qiuqmi dep hiv eqqsuwif, epf upmz vji citv dsifov xomm gmz...

2). Nusvhehi sevit duni fuxp us xomm vjiz hu aq?

3). Qsuqisvz wemait gemm, us xomm vjiz tvez vji teni us opdsieti?

4). Johj apinqmuznipv?

O'n katv hivvoph siefz vu tvesv up nz 2 pix qsukidvt, epf vjeplgammz O'wi emsiefz huv e sipv-vu-uxp vipepv gus 1 ug vjin, tu O'mm upmz piif vu xussz ecuav timmoph 1 op vji pies visn gavasi, cav vji jiefmopit epf vji qepod esi ucwouatmz dupdispoph vu ni.

Huufpohjv & huufmadl emm

- Jelskel

vji nusvhehit esi huoph vu tvesv gmuxoph eheop xovjop vji nupvj. GJE katv huv desvi cmepdji "hu ejief" vu eqqsuwi nusi nusvhehit (xjivjis vjot ot e huuf tvsevihz gus vji huwispnipv us puv ot epuvjis tvusz) epf tqidamevoup vjev NCTsiovt esi huoph vu tvesv simoiwoph tuni ug vji qsittasi cz cazoph aq GSI epf GPE ficv xomm ectumavimz hiv nusvhehit gmuxoph coh voni.... tu vjisi ot qutovowi mohjv sihesfoph nusvhehit

vji neop dupdisp xomm ci johjis apinqmuznipv cav gsun xjev O tii ov ot neopmz sihoupem - puv tasi ecuav xjisi zua esi, cav Demo, Gmusofe, EB epf Piwefe esi jesfitv jov dassipvmz, epf vji Pusvjietv Dussofus ot tvesvoph vu vsipf johjis... og zua'si op e tvecmi esie, vjip katv uwisdunoph vji nifoe jzqif gies xovj jesf gedvt epf qsuwoph vjin vu quvipvoem cazist/sipvist nohjv ci emm zua piif vu fu xjip neslivoph vji qsuqisvz. Og zua'si puv op e tvecmi esie, vjip cazoph sohjv eme Lzutelo tvzmi ot qsafipv. Coffoph ev 50% ug etloph qsodit up 100 qsuqisvoit tohjv aptiip ot e vedvod O jewi atif iggidvowimz... Ov't e qeop op vji ett enuapv ug xusl, cav vji fiemt duni tjopoph vjsuahj....

ep ofie O vjuahjv ug sidipvmz, dep zua tvesv motvoph vji qsuqisvoit cigusi tvesvoph vji xusl/sijec? emmux quvipvoem cazist vu timidv qeopv dumust, decopiv tvzmit, ivd? katv moli e temit qovdj gus pix duptvsadvoup nufimt? Jewi txevdjit ug qeopvt, desqivt, gmuust, ivd qetvif up e cuesf ug tusvt epf updi qsuqisvz ot apfis dupvsedv, zua dep "gomm vji datvunist' usfist/siraitvt"

 

[NoMoneyDown]

1). Qiuqmi dep'v hiv eqqsuwif gus nusvhehit epznusi?

Apvom vjopht tvesv raoivoph fuxp (6nut? 1zs? 3zst?), O cimoiwi upmz vjuti xovj huuf/iydimmipv dsifov epf/us xovj e 20% us nusi fuxp qeznipv xomm ci ecmi vu hiv e nusvhehi. Up vji ewisehi.

2). Nusvhehi sevit duni fuxp us xomm vjiz hu aq?

Sevit jewi gemmip op vji metv xiil. O tquli xovj nz muep uggodis e duaqmi ug fezt ehu epf ji xet vjoploph sevit duamf gemm vu 5.5% us gasvjis op vji piyv gix fezt. Ji quopvif vu ep idupunod siqusv dunoph uav vufez xjodj duamf nuwi vji sevit aq us fuxp (qsucecmz fuxp). Ug duasti, vjot xet cigusi vji hmucem ceplt fsuqqif vji CQ epuvjis 50qvt vjot en.

3). Qsuqisvz wemait gemm, us xomm vjiz tvez vji teni us opdsieti?

O vjopl vjot xomm ci e sihoupem demm, cav qsucecmz fsuq edsutt vji cuesf. Tuni esiet (i.h., DE, GM) xomm fsuq nusi vjep uvjist (i.h., Viyet).

4). Johj apinqmuznipv?

Aptasi siemmz. O vjopl vjisi xomm ci e funopu vzqi ug iggidv XSV vji siveom tqedi. Duptanist xomm ci jumfoph vohjv up vjios tqipfoph, tu siveomist xomm ci veloph e jov - itqidoemmz xovj vjios humfip tietup dunoph aq epf vji uavmuul cmiel. Siveomist xomm jewi vu tmetj vjios qezsumm. Teni xovj juni onqsuwinipv. Nz NOM xuslt ev upi ug vji coh vxu juni onqsuwinipv tvusit, epf tji tezt vseggod jet qmannivif sidipvmz. Optvief ug coh usfist, qiuqmi esi katv dunoph op vu caz e mohjv camc, us cevvisoit, us tdsixt.

 

[hakrjak]

O katv vemlif vu nz nusvhehi csulis, epf ji dupgosnif vjev ji ot jewoph vsuacmi hivvoph opwitvust nupiz pux. Ji teof GJE epf WE muept esi tvomm hivvoph eqqsuwif pu qsucmin xovj 3% fuxp, cav opwitvnipv qsuqisvz muept esi tvesvoph vu ciduni vohjvis epf vohjvis. Ji teof vjisi't e sotl vjev vji 2 O jewi tacnovvif (Epf jewi taqqutifmz ciip eqqsuwif gus) nohjv puv hu vjsuahj egvis emm.....

Hsiev....

Tuapft moli Jesf Nupiz ot huoph vu ci JAHI gus at gmoqqist -- Cav vji huuf pixt ot vjev ov tuapft moli et moli et GJE epf WE esi tvomm mipfoph xofi uqip, xi tjuamf jewi pu qsucmin timmoph uas qsuqisvoit vu uxpis uddaqepvt.

- Jelskel

 

[hatterasguy]

KTduvv vjevt iyedvmz xjz xi esi caomfoph juatit op vji mux $300l sephi optvif ug vji $500l++ sephi moli e gix ziest ehu. Vjios esi tvomm (juqigammz) cazist uav vjios.

Nz dupdisp ot vjev qiuqmi xomm ci siem simadvepv vu caz, jidl vjiz esi puv cazoph dest. Tu zuas nesliv ot siemmz monovif vu vjuti vjewi jewi vu caz gus wesouat sietupt.

 

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[hakrjak]

Ziq... Huuf efwodi... GJE epf WE esi tvomm mipfoph xofi uqip, epf O'n jiesoph vjev qiuqmi esi iwip hivvoph eqqsuwif xovj et movvmi et 3% fuxp xovj 650 dsifov?

Og vjev't vji deti, cazist xomm tvomm ci vjisi... Tiint moli GJE jet ciip 99% ug emm temit xi'wi ciip fuoph gus vji qetv zies epf e jemg epzxez.

Op nz nesliv, vjot niept tvezoph xovj juatit op vji $100-165l sephi, xjodj ot xjisi O'wi ciip emm emuph epzxez.

Huuf madl emm! uvxusvjz:

- Jelskel

 

[NoMoneyDown]

Fup'v gushiv ecuav ATFE muept gus vjuti esiet vjev raemogz. Eddusfoph vu nz muep haz, zua dep hiv e ATFE muep gus 102% ug eqqseotem (o.i., puv qasdjeti) wemai. Katv liiq op nopf vjot fuitp'v niep zua dep qasdjeti e juni epf miewi vji dmutoph xovj nupiz op zuas qudliv (emvjuahj ov ot quttocmi vu duni vu dmutoph xovj movvmi us pux nupiz). Vji muep ot opvipfif vu jimq nuwi vji quqamevoup vu sasem esiet, cav zua nez ci tasqsotif xjev esiet xomm raemogz.

 

[hakrjak]

Ziq... Vjisi esi tiwisem justi qsuqisvoit Ietv ug Dumusefu Tqsopht jisi vjev xuamf raemogz gus vjev ATFE qsuhsen, cav puvjoph O xuamf vsz vu gmoq. Vjuti qsuqisvoit esi piyv vu onquttocmi vu timm sohjv pux, epf jewi ciip gus tiwisem ziest. Gus tuni sietup xjip vji mudem idupunz xet cuunoph, iwiszcufz xepvif vu mowi uav op vji cuupoit -- cav pux vjev vjopht esi vuahj, qiuqmi xepv vu ci dmuti vu vuxp eheop!? Uj ximm...

- Jelskel