Brian, Fannie Mae, $25,000 discussed on KLBJ Programming


LBJ, The phone number 51283605 95 1283605 90. We're gonna be talking about property taxes. If you've had hit to your property taxes that was surprising this year gives Kali 3605 90. We went here. What's happening with you speaking that? Let's go to Ryan. Hey, Ryan, thanks for college. Sounds like you had a few properties that might have gone up a little bit. Oh, yeah. Yeah. Did not win this this around. Yeah. Four properties the code 78745. Uh, the value went up by $98,000. Well, 78744 property went up by $99,000. 78747 down off a 1 83 creed more found that area. Uh Went up by $100,000. And the other one went up right next to it went up for $94,000, which is an old Oh, pretty much tear down farmhouse that. Well, let me think I could get that money out of it now. Hey, Brian, Let me ask you a question. So when you got these tax bills, and you're obviously a real estate investor, you have these rental properties. What? What is your first thought? I mean, is it I just got to raise my rent. Or maybe this is a good time to exit or what was your thought? First look. But when the deadline was the protest fair point fair point And then, uh, yes. You know what? I got to go back and do my line number to figure out Okay. What do I have to charge to balance this? Uh, you know, figuring out because of it the same as last year where it took You know, six months or so to protest. Well, if my lease is up Or a new clock our new tenant in three months. I have six months. I gotta figure out what am I gonna charge in three months? The balance Yeah. The rest of it. Is that balance out with the rest of the cops in that neck of the woods right for what you can charge for rent. Have you thought about selling it? And he's thought about maybe this historical lows. We're seeing on capital gains Now we're probably going to go away and I know off Air Kevin and Tim. You were talking about the 10 31 exchange. There's thinking about capping The the amount that you can actually exclude, right. It's in a discussion. I will say this. The Biden tax plan is still conjecturing right, so we don't know exactly what it's gonna look like. But that is one of the things that's seems up for discussion is whether those 10 31 tax deferred exchanges get manipulated into some degree or taking away. Yeah. So you know that would you know as a real estate investor myself? That's one of them. When I got my tax bills, Ryan, I was thinking the same thing. I'm definitely gonna fight it right and see what I can do. But how do why What's the metric that I used to raise it? Because I don't want to lose a good tenant, right? Then what does it do to my cash flow? What does it do to my rate of return on this property is if I've had it for five or six years and I've seen some bring integration appreciation. Maybe I move it. You know, I don't know. And I think that's probably some thoughts you're having right? That was a leading question. I know Also you start looking at Com. Well, it's not You know, there's as many castles there used to be. Yeah, because people are sitting on their properties. Right? Okay. Let me judge my property here by what's been sold. Okay. Well, if the I read it with the Austin Journal the other day said it was, you know, average price is up $68,000 over asking or something like that. Um which, by the way that Z that ever happened to Kevin, where it's with the average for asking price is above what the listing prices as a hole in the whole area has That came out a couple months ago. Like 68. I think camera which want Mother was a $68,000. On average. Over the medium. Close price was more than 100% over the asking prices were yes. Is the first time we've seen that. That's interesting. Well, Ryan Hey, buddy. Good luck on all that, man. I hope you hope you come to a good decision there. And thanks for listening to show we appreciate it. Let's go to Darryl. Hey, Darryl. Thanks for calling you at a question or comment for us. Guys. Thanks for taking my call Your first studio. What impact or what do you think? The floodgates gonna open on foreclosures and evictions? Yeah. Well, well, foreclosures. I mean, if you bought a house in the last, say, 12 months here in the Austin area, your liquid your liquid. I mean, seriously, that's I don't think you could go into foreclosure. I mean, anybody can go into foreclosure. I guess Maybe that's too broad of a stroke there. I think that it be fairly easy. Anything bought more than 12 months ago. Your liquid on the property unless you've done something. There's some extra lean against the property or something. But I don't see any foreclosures happening on this now. Evictions. That's another thing. You know, I know there are a certain percentage of tenants out here in the Austin area. They're not paying rent. On there. Not being a victim because they can't be right. Kevin, What are your thoughts? Yeah. There you go ahead. Go ahead there. Well, let's gonna say, well, how many landlords do you have all the list that want to sell their house but can't sell it because they have attended and it doesn't pay. It's possible, you know, and that's what we're saying that we have. There's so many buyers in the market that their buyers that are willing to take on that headache just to connect with a house. So there anyway. If you know if your landlord and you have one of these non paying tenants, and you'd like to sell the house, we could still sell it. That's how crazy the market is. Uh uh. Someone just ate the money. The Holy Cross between now and then. You know the factor. In some point, they're gonna have to be in victory. The tenant to leave. Yeah. Um, but, yeah, you know, to John's point, We're still there still death and disease and divorce and they're still these stressors that happened. People's lives right now. But to get the big foreclosure wave, you have to have that and then also have properties that can't retail sale for enough to cover what the dead obligation is, and there's very few of those right now. Because the prices have been moving up so quickly that the 20 means by saying most people are liquid. Yeah, well, I guess I I came to agree a little bit with that, but I also I'm multiple closures in the past by having some experience and you know, there's just a lot of mine. I mean, there's a lot of homeowners. This is gonna be way behind. And they're just not savvy enough to know that. Okay? I need to sell it. They're gonna look at him Sell. I'm 12 months behind in my payments. That's $25,000. Well, I went after Darryl. What One of the things you got to think about on those is that the government has created a out for them right? Even if they if they haven't made a payment, and let's say 6 to 7 months on their primary residence, it's can be deferred because of the cove it right. Everything that's been ongoing on the last 12 months. Signed up for the program. But if they just kind of sat on their butt, which a lot of well if, well, listen, I think that'd be a very small percentage of the people Listen to face. It is and you get are going to do is either modified or start making her catcher payments up again, right? It's really that the banks are highly encouraged right now to do these modifications, and all they do is roll it into the new loan right lot of times. They tack it on to the ends of the payment doesn't change right and then they're on their merry way, and to be honest with you once they've made three payments on that modification, Fannie Mae, Freddie Mac and HUD have said. You could go ahead and do it. Refinancing even and what were your right at that 0.2 in cleared all out, So, yeah, There's a lot of outlets for them now the other ones and even for investment properties. They have those, so you know, we'll see. I think there's so many jobs. I think jobs is really what drives the housing market and Andre Health of the housing market. Right. Consumer confidence is high in Austin. That's the gas that drives us. So I think until you start taking those things away, that we're not going to see heavy foreclosure rates and I will tell you I've been in the business, 26 years and Kevin and 10. We'll talk.

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