Liar Loan said:
CalBears96 said:
Liar Loan said:
USCTrojanCPA said:
Liar Loan said:
CalBears96 said:
Yeah, a whopping 0.13% decrease after 12.3% increase. Scary!!! Really bad news!!! Housing price will fall by 0.13%. Run for the hills.
A -1.6% annualized decline with inflation running at 10%. Landlords are getting squeezed by higher costs and lower rents, and this is just the first of what will be many months of bad news.
Your new neighbors were smart to rent because their costs are fixed, if not declining, while yours are steadily increasing.
TestingIrvine said:
Ask LL, he rents in Irvine.
Yep, rent free though.
Compressed-Village said:
The declining in a 20 % YOY increase, WTF is LL smokin'?
The posters here are literally losing their minds.
I hope they didn't rent in the past 6-9 months because rents are up over 25% in Irvine in the past year and if they rented a home earlier those tenants can expect a rent hike upon lease expiration. I bought 2 rentals in 2021 with a client and our fixed rate is 2.99% so how are our costs going up?
It's strange that I would have to explain this to a CPA, but ok, here goes:
Depreciation + Taxes + HOA + Maintenance + Repairs + Management + Rent Collection costs are all going up. Of course, depreciation will be your biggest expense going forward as the value of these properties declines. Financing a money losing venture only multiplies the losses.
It's really strange that you just make shit up.
Depreciation has NO effect on expense at all.
Property tax will go down if property value declines.
HOA stays the same for years.
Maintenance and repairs do happen, but not as often as you think.
Again, property management fees stay the same for year. And what the hell is rent collection cost if you use a property management company?
It's like you don't understand anything. You really are just dumb.
Depreciation is what happens when a house goes down in value. You know this from the Lake Elsinore debacle.
If property tax goes down, that means you are losing money. Think.
HOA stays the same for years? That has not been my experience.
Maintenance is an ongoing thing. How do you not know that?
Repairs happen when they happen, but that has no bearing on whether the cost is going up or not. A percentage of rents will go towards repairs no matter what.
Property management is a an expense that fluctuates when you self-manage. Again, think.
Rent collection / delinquency costs go up during downturns whether you self-manage or not.
LL, let me ask you again. How dumb are you?
What does depreciation have anything to do with INCREASING COSTS?
What does lower property value have anything to do with INCREASING COSTS?
Am I paying more on the mortgage because my property went down? No, right? So what the fuck are you talking about with INCREASING COSTS?
You're NOT losing money UNLESS you sell the property. You really have no idea what losing money means, do you?
When I first bought my Lake Elsinore home, HOA fee was $104. Then it dropped to $98, then $88, and then finally to $78, and it stayed that way until present.
You realize that maintenance and repairs for rentals don't occur very often, right? I had some repairs for the Lake Elsinore rental, but never had any maintenance costs.
Well, if you self-manage, then you don't even have pay property management fee and I never had any issue with rent collection. And we're talking about Riverside county tenants here. Orange county tenants are even more reliable.
All the shit that you're talking about is just your own assumption without anything to back it up. And you really have no idea what you're talking about. You're just embarrassing yourself.