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I am an agent who finds deals!

@@thejonschwartz i ve watched ur other video where u were explaning how to built househack investment strategy for like 5 years before u decide to have ur own house can u do it while using agent to find deals and still be efficient having good cashflow? i'm curious cuz agent need to have like their own percentage right?

@@gn1495 Yes, the agent takes a percentage of the deal as a fee, but if you're just getting started, it definitely helps to work with an investor-focused agent. Check out www.biggerpockets.com for some more guidance.

Thanks so much!

I don't think it would dramatically add value. Adding square footage always adds value -- just look at what homes are selling for near by in terms of $/sq ft. The JADU would benefit you, though, if you could rent it out the collect that rental income. A JADU that's essentially a small studio can collect $1500-2000/mo in LA.

Oh, it's just around the corner...🤣

Go go go!

Agree!

Thanks so much for the comment!

I haven’t invested one second into looking at the props yet!

Wouldn't that limit building? Aka supply? If so please tell me how this makes sense

@@RichieRage 80% of rental properties are owned by mom and pop landlords. Limiting rent increases will force many of them to have to sell which will increase supply and reduce prices for the average buyers. As it stands now, developers are not building many homes in the major cities even under the current laws due to lack of affordable available land and governmental red tape and environmental restrictions. Only 90000 new housing units were built in 2023 in a state with 40 million people.

@@Thecode-vf9oi if they sell wouldn't wall street investors out-bid most of us normal people?

I just voted no on prop 33 because it would only discourage small and large landlords from providing the desperately increase in rentals in CA.

Thanks so much! Appreciate the comment!

Wait a second... You personally spoke to agents at two different open houses who said their clients were selling for $100K losses? Ahahahaha! Oh man... Do you expect anybody to believe that?

@@thejonschwartz yes, one of the agents said her client is 3 months late on payments, besides I checked on zillow, he paid $1120000 and spent about $100k to renovate bathrooms and pool and now he is willing to take $990000 but my offer is $950k and he has no offers other than mine and still doesn’t wanna give up for $950 but sad reality is here, housing downturn started.

JADUs do have an owner-occupancy requirement in LA City. There’s an affidavit to sign, and then no enforcement.

Google “Los Angeles Department of Buildings and Safety.” You can do a permit search online, but for a more thorough search, go in-person and request the permit history of your address. If they don’t have a permit on file, it isn’t permitted. Nobody will come to the address to check the structure.

SoCal!

On the one hand, yes. The wealthy have been getting wealthier since Reagan changed the tax code in the early 80s. On the other hand, the majority of adult Americans can afford to buy a home.

@@thejonschwartz the majority of households cannot afford the median home with their incomes today.

On the flip side, though, a minority of realtors are better than car salespeople!

@freedomisnotfree3047 Most realtors are knowledgeable and ethical. Our clients, a few of them, however, can disappoint you. Most people are honest and trustworthy.

Another cheerleader of what exactly?

@@thejonschwartz prices going up? I went to 6 open houses in Los Angeles and two of those are selling lower than they bought 2 years ago because they can’t keep up with payments.

@@criticalthinker9829 🤣🤣🤣

Yes. The percentage of homes going pending on two weeks or less has been climbing for five weeks. In laymen’s terms, “more homes selling faster.”

@@thejonschwartz how many of “pending” sales follow through?

@@206remyboyz7 I don't know! I'd guess it's around 80%, but that's just a guess.

Zoning is a big issue, so here's the one-minute primer: Land use is defining by zoning. Homes are built in residential zones, stores are built in commercial zones, and factories are built in industrial zones. Since WWII, zoning has become more restrictive in most communities. Where you could once built homes are stores, now you can only build homes. Where you could once build houses, duplexes, and triplexes, now you can only build houses. Restrictive zoning allows homeowners to maintain the low-density feel of their neighborhoods and prevents much-needed housing from being built more densely. I'm not well-versed on the school thing, but I believe it!

Thing is that in California there is not much space to build. Only place where growth can really happen is the Central Valley. And the air quality there is absolutely awful. Schools are bad and crime there is high. That only leaves the northern coast around places like Eureka. It's very nice there, but for some reason nobody is building there.

Thank you!!

🤣🤣🤣

Congrats!

San diego is dumping terribly

@@Crow-x4u really?

@@grownupgamingSorry sadiago is crashing so fn bad eat it

@@Crow-x4u source: redfin. last four weeks: san diego median sales price is at 899K, given seasonal trends, it's actually bucking the trend to be upwards for the last seven weeks.

I'll get back to doing SD shortly, promise!

Yes it is. For renters.

@@HappyandBlessed-wj7gc for sellers , I'm a 20 yr real estate proffesional who left the industry , I'm already seeing the buyers remorse, idiots who got sold on the idea a 2 bed 1 bath 1000 sqft bungalow in metro Los Angeles was worth a million 😂😂😂 I'll be back to buying next fall .. fools that bought into the idea of fomo.. agenta hate me because now I expose the truth, I know it first hand because I hustled buyers in 06-07 and cause divorces, family crisis all for a commission while I sold them and overpriced home

@@HappyandBlessed-wj7gc 😂😂 try again been in the business since 04 seen this movie before.. this is the sequel.. hope you didnt get hustled like hustled the buyers in 07 before the collapse

@@theorigin1891 You know someone doesn't know anything about the real estate market when their only frame of reference is "2007-2008". Keep renting.

Yes, if job losses happen, then prices should go down. But we haven't experienced any job losses since the pandemic shutdown. Last week's jobs report showed we added 254,000 jobs last month. As for affordability -- it's stretched, for sure, but for now, there are still enough buyers with enough money to keep prices relatively high.

It's CA. So they probably gonna get the price that they asked for + over asking price due to bidding wars.

That’s a whole different beast - one that I do not have experience with!

Well… greed is bound by the market. I’m sure Apple would love to sell iPhones for $10,000, but the phone market won’t let them. Same with home sellers, right?

​@@californiafarmin2145Just because you can't afford to have nice things doesn't mean that the people selling them are "greedy" or fraudsters.

​@californiafarmin2145 Says the guy who is an "accountant" but has to believe in conspiracy theories to rationalize being stuck as a renter. 🙄

Reverse mortgages.

Long story short, baby boomers are aging in place. The average length of home ownership is growing because boomers aren't moving out yet.

@@thejonschwartz In California that may never be the case bc of proposition 13. They would pay more in another state for a cheaper house in property tax. But can their kids inherit their super cheap property taxes?

@@luperamos7307 Look up Prop 19. It allows homeowners 55+ to buy a new home in CA and keep the same tax basis. And kids don't inherit the super cheap property taxes; when the property changes hands via a will or trust or probate court, it is reassessed to a new tax basis.

Amen! (Though I’ve been on the homeowner end of the equation since 2009, so I’m pretty happy with Prop 13.)

That's a HUGE question that can't really be answered in a TH-cam comment. But if you forced me to answer, I'd say Columbus, OH.

Thank you! I think you're totally right about the feasibility of successive residential loans.

You're not wrong about the relationship between layoffs and home prices. But what layoffs? Did you see Friday's jobs report? The US just added 254,000 jobs!

@@thejonschwartzmost of of jobs are part time jobs, and low paying jobs.

​@thejonschwartz ...they'll just revise it down 300k like last time!

@@L04w031 That's not true. Wages are up 4% YoY. And "254,000 new jobs" means 254,000 instances of a person working 40 hours per week. 40 hours of work per week = 1 job, so part time jobs are considered fractional and computed accordingly.

@@fpanadero2626 Actually, the revisions last week added 72,000 to the previous months' numbers!

Yeah, I need to make an update. I just haven’t been shooting the reno. It’s about halfway done, coming along slowly. Rough plumbing is going in this week, roof next week…

@thejonschwartz Wow. Good job man. How's the budget ? Still on it ?

By “happy” they mean gay.

🤔

This "you will own nothing and be happy" seems to have become a right wing slogan in recent years. I agree that real estate is entirely unaffordable. You would literally have to go elsewhere. Texas has lower prices, but property taxes are sky high. They will also adjust your property taxes on an annual basis. Real estate values have gone up worldwide. Even in Mexico in places with cartel violence they have sometimes even doubled.

@@luperamos7307 I don't know what you think you gain by labelling a WEF slogan "right wing." FWIW a lot of us paying attention to WEF agendas aren't right wing, in fact a lot of us don't vote as we see "right wing" and "left wing" are two wings of the same predator.

@@kemosabe5120 In recent years I have heard this sentence over and over from right wingers. The same right wingers who tell me that we live under communism. And the reality is that we had a massive asset bailout in 2020 when Trump unleashed trillions upon trillions of dollars into the economy. Without that money you would have seen asset losses far worse than in 2008 and these people really would have had nothing. Having said that, the people that have continuously lost is the non asset holding class in our system. Many of those people will never own anything bc this massive bailout has made real estate prices even more expensive. You have to try whatever you can to stop being a renter.

I agree with you 90% of the way. You're dead-on about boomers not turning over inventory to new buyers. But I don't know how I feel about the argument that rates have been "artificially lowered" for a decade. They were low, but that's just where economic policy was, right? Do you think they were intentionally/malevolently low?

@@thejonschwartz Absolutely I believe the depressing of rates for "no good reason" was intentional. But then again, as I am sure you've gathered, I also have a closet full of tin-foil headgear lol. (Plus I am a Cuban expat so my opinion of the wisdom of government officials is exceedingly low). But, it wasn't malevolence at play in my view, it was greed or at very least opportunistic political behavior. You see, the outsourcing of manufacturing to China that happened in a big way over the last two decades created a deflationary environment for Americans. Or a least it SHOULD HAVE ushered in deflation, but of course it never did. The Fed (no doubt at the behest of politicians) used the onset of deflationary pressures of Chinese outsourcing to counterbalance the natural inflation that should have come from all their usual unbridled money printing. This allowed them to drop interest rates very low, which artificially inflated assets without sparking inflation. Truly the best of all worlds for the political class. That party lasted about 15-20 years until we finally sparked inflation three years ago and rates had to be raised to "somewhat" more reasonable levels to tame the inflation dragon. But 6.5% mortgages are actually very decent and favorable rates by historic standards (as I know you know).

Definitely artificially low way too long during the last run up and then during the pandemic. Without it, we wouldn’t of had these bottle necks of inventory and crazy appreciation

​@@CaptainCaveman1170In 2008 everybody seemed to know who got bailed out. In 2020 nobody seemed to understand that. The S&P500 was collapsing in March 2020. Without massive spending all asset values would have collapsed in price, including homes. The main beneficiaries of this bailout was the asset holding class. Trump himself is said to have lost at least 1 billion in March 2020. Bailouts are priced into our system, therefore interest rates are always lower than they would be in a free market system. Cuba is not able to just print the amount of money we do. No country in the world can. We can do that bc the loans are denominated in dollars. It's an advantage no other country has.

@@luperamos7307 Absolutely right. But for some reason I still feel like the politicians are not infallible and their ability to pre-bailout everything is not going to work at some point. I could be very wrong about, and have been for a few years now but I am still very skeptical that they have learned how to get ahead of the entire business/default cycle.