Julie Harris, United States, TIM discussed on Real Estate Coaching Radio
But the people that you do business with real estate agents. When you're you know doing selling a house that person's most likely borrowing the money to buy that mortgage and maybe they even borrowed the money to You know start a business in maybe you guys get the idea. It's all bunch of Domino's predicated on people's ability to borrow money in it never ends. So when you get to the point where your income comes from sources that are not dependent on people with borrowed money. Ability to borrow more money then you're out of financial freedom and a different level because then you've stepped aside from a lot of the I think fragility of the economy that we're gonNA start seeing playing out going into next year that sound like a long. Diatribe is it makes sense. But that's that's an excellent secondary point with the money coming in but having the consistency of it and not being dependent on the economy not being dependent on everybody else's economy not being dependent on at our tournaments. You know yeah I mean I, as you were talking, I was thinking about you know the last recession how many people I can go through thinking like you know you would go to get your haircut and talk to the salon owner and he's like, yeah, people are waiting a lot longer than they used to to get a haircut was nineteen dollars but she's dependent. Oh, you mean during their session because people don't have the money. and. I just remember so many different instances of that where you know anything discretionary is over with right to your point having not just having the money coming in but having the. Security of being month in and month out for the rest of your life well, that that's the problem that was what we discovered rental properties. That's what we discovered and paid off. Right. So our tenants there was an article. We're GONNA talk about this on Tim and Julie Harris Dot Com or main. Blog website with tons of articles we put it four or five new articles a day I send it to you. Julie that the consensus is that there's going to be some sort of. foreclosure. Well, it's GonNa Start with it's. An addiction sort of the eviction moratoriums are GONNA run. Then you're going to see they're projecting was that forty three percent of all a residential tenants in the United States can't make all or any of their rent payment. So there's an absolute. Apocalypse that's going to assuming there's not massive government intervention continued massive government intervention. There's an absolute apocalypse is going to be happening to rental properties across the United States and again, read these articles and Tim and Julie Harris. Dot Com I realize nobody else is talking about it but it's a time I mean, it's a time. It's it was forty three percents, thirty three percent but that's still a lot of people. That means at twelve million renters could face victory over the next four months and then places. List in more than twenty percent of runners say they have absolutely zero confidence in their ability to pay rent next month right? And and all the while new leases are also down pretty much everywhere. Yeah. So all of us who were basically planning on you know saving and scrimping and getting by and doing everything you know living blow your means to buy rental properties and. Putting it all that extra work just everything..