Phase 2 of Housing Crash Just Started (Rental Collapse in Phoenix); Deal or Dud & Catch-Up!

Hope you had an amazing week!

Joni and I went to a really nice restaurant last week at the?Garment Factory?in Franklin, IN. It was amazing, unfortunately, I didn't take picture of the dishes. Sophia, Sam, and I went to Chick-fil-A this past Saturday. My daughter?looks so thrilled with me taking her picture :-)

Well, I lost out on $5K all within 24 hours, let me explain.

I got an email on a performing asset the other day, typically I have a very difficult time buying these due to the ROI I need to make. I told the seller I'll make an offer and I'll send it to a company that buys performing notes at a lower ROI thus making a better offer and between the two offers will see which one is better, the seller said that that was fine with me brokering?the deal.

Well, I submitted the asset to this company, but the company's representative accidentally sent the offer to the seller and not to me, basically the seller side-stepped me and went straight to the source.?I'm not angry, I should have removed the seller's email from the quote.

You win some, you lose some.????

Phoenix's Housing Market is the first to experience a double-barreled Housing Crash in 2022. Where both the For Sale and Rental Markets decline at the same time. Real Estate Investors are now bailing out of the Housing Market as a result.

Phoenix tends to "lead" the US Housing Market. Back in the mid-2000s, Phoenix (as well as Las Vegas) were the first markets to crash. And then the rest of America caught up. A similar trend is playing out in 2022. Atlanta and Charlotte are two others markets with lots of Real Estate Investors and Home Building that are likely to follow in Phoenix's footsteps in the coming months.

Aug 2021 Video on Rental Bubble:?https://youtu.be/OI_g85Dn5lk

Feb 2022 Video on Phoenix:?https://youtu.be/5_muaO-TRz4

Some might ask: "How is it possible that demand for rentals and for sale properties goes down at the same time?" If Mortgage Rates go up, and fewer people buy, shouldn't rental demand increase? Interestingly - no. Demand to buy and demand to rent are both parts of overall Housing Demand. And now in 2022, we are seeing Housing Demand decline due to Inflation, the Recession, and record low Consumer Sentiment.

Evictions are also part of the slowdown in the Rental Market in Phoenix, with Maricopa County reporting a record high in recent months. Unfortunately, we do not have access to National Data from Eviction Lab to verify the Evictions. They stopped updating it on August 6th.

Check out the video below:

As always I pray you have a great week, reach out to me, and we can discuss a few ways you can earn?above-average returns?on your money secured by real estate!?

Have a great day and God bless!