The yield curve has inverted, inflation is way up, interest rates are rising, the geopolitical environment is tense, the talking heads warn of hard times ahead. What are you doing to prepare? In today’s episode, Emil and Michael share what they think about our current moment and what they are doing to prepare.  

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.

 

Emil:

Hey, everyone, welcome back for another episode of the Remote Real Estate Investor. My name is Emil Shour, and I am joined by…

 

Michael:

Michael Albaum

 

Emil:

…and on today's episode, we're going to be talking about what we're personally doing to prepare during these uncertain times. So let's hop into this episode.

 

What's up, Mike, are you are you on the road again?

 

Michael:

I am on the road again, we accidentally rented out our bottom unit of our house hack, which is the one we live in. So we're like, well, let's just go on the road for a month and a half. So we're back in the van hanging out on the Central Coast and headed up to Oregon to hopefully get some spring skiing in.

 

Emil:

I love how you use the word accidentally rented our place, like totally accident.

 

Michael:

I mean, it was a total accident, total accident.

 

Emil:

We just woke up one morning and our places rented and here we are.

 

Michael:

I mean, that's kind of how it happened. Our upstairs tenant was like, hey, I want to stay longer and we said, oh, we will rent I mean, your units rented out 20 minutes after you leave not really that soon, but a couple hours after for cleaning and stuff and she goes well, what if, what if you just rented your space out to these new people? You think they would want it and so and my wife's pointing at me, she's like, it was my idea, Michael. So she was like, my wife, Claire suggested, why don't we rent out the bottom unit to these new people. I'm giving our upstairs tenant way too much credit and I FaceTime with new people and they're like, oh my god, that actually works out way better for us. Our daughter wanted to come with us. So having an extra bedroom or two would be fantastic. So we said okay, great. So we said we'll get out of town. Got back in the van and now we're on the road again. So we've got both units rented out now and they are cash flowing in California Bay Area, which everyone said was not possible to do.

 

Emil:

Boom, baby there it is…

 

Michael:

Yeah. What about you? What do you got going on?

 

Emil:

I'm freshly shaven. I feel like I'm never freshly shaven on our podcast.

 

Michael:

It's looking good.

 

 

Emil:

Thanks, man. Very smooth.

For our YouTube viewers and nothing just dropped my daughter off at preschool. So yeah, just mela morning for me.

 

Michael:

Nice. Well, I'm super curious to get your insights into this episode.

 

Emil:

Yeah, I feel like you and I are doing different things right now. But hopefully there's some overlap and I think it's I think it'd be fun to just see what you and I are, are doing as things are a little uncertain. Do you feel like that's the right term to use right now, just uncertain, hard to say where we're headed? What's going on? What could happen in the next six to 12 months?

 

Michael:

Yeah, I think so. But I mean, in taking a step back and thinking about just like the economy at large and the past couple years, I feel like things are like always uncertain. No one predicted the pandemic, no one predicted that the pandemic would have this effect on real estate. So we turned back the clock, you know, 24 months, 28 months. People like oh, yes, things are certain,