Jack Lewitz (Exit Strategy Realty)

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Rainmaker
388,189
Cindy Davis
SD Home Source Realty - San Diego, CA

I've done it many times. If people can't really afford it, or if they move a lot, I advise them not to buy.

Jul 24, 2015 04:15 AM
Rainer
26,764
Beatrice Briseno
RE/MAX Unlimited - San Antonio, TX
Beatrice M. Briseno, GRI, CDPE, San Antonio, TX

After being in the property management business for over 25 years the answer to that is YES!! There are people who should not own a home

Jul 24, 2015 04:04 AM
Rainmaker
878,451
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Yes, there are folks who should not own real estate, and some who should never be trusted to care for a pet, and those who couldn't keep a garden in bloom if YOUR life depended on it.

Those who should not own a house would include those who are:

  1. So financially thin any bump in the road results in calamity
  2. Has no comprehension that houses require maintenance
  3. Those who think short term and need to keep changing environments every 18 months.
  4. Those who do not wish to be on the food chain of every taxing enterprise in the state
  5. Those who have 'illegal' intent.

Can those requirements be imposed? No. I would lay out the reality, before witnesses but the buyer has their own reality.

Jul 24, 2015 04:14 AM
Rainmaker
1,027,335
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

I think there are many people who should not only not invest in real estate, they should remain renters.

These include people who are not able or willing to spend time or money in maintenance. 

Jul 24, 2015 04:28 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Yes, and some of them should not rent one either.

 

Jul 24, 2015 07:39 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I know many people who aren't able to handle home ownership.  

Jul 24, 2015 01:53 PM
Rainer
230,924
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

as in the stock market, if you are not a savvy investor , you may lose. Real estate is , besides our time, one of the only finite investments on the planet. :)

Jul 24, 2015 01:53 PM
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I am laughing outload Jack, I personally know several broker owner's who shouldn't be.  They do nothing for their agents at all.

Jul 24, 2015 12:56 PM
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good Friday evening Jack. Yes! There are those who have the "renters mentality" (and you know what I mean), these folks need to rent and have the land lord take care of all their wants and needs.

Jul 24, 2015 10:35 AM
Rainmaker
5,571,077
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

yes.... not everyone should buy....those who are financially irresponsible should not buy....

Jul 24, 2015 08:21 AM
Rainmaker
2,631,149
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Well if they dont play by the rules, are not a good neighbor and move around a lot, pass on owning.

Jul 24, 2015 06:35 AM
Rainmaker
175,464
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

Those that can't afford it.

Jul 24, 2015 06:21 AM
Rainmaker
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Tamra Lee Ulmer
Arizona Resource Realty - Payson, AZ
NRBA ~FORCE~ Over 1000 REO Assets SOLD!

Yes, but so many factors and different reasons why. Great question, Jack.

Jul 24, 2015 05:59 AM
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Are you asking about a person buying a home to live in or an investor who wants to own and manage properties?  The answer to both is yes.  There are people who should not own real estate.  All you have to do is look at the mortgage meltdown to determine how many people had no idea what they were doing when they purchased a home.  As far as investors they need to understand cash flow, maintance, repairs and taxes before they head off to buy a property.

Jul 24, 2015 05:54 AM
Rainmaker
97,321
Shannon Thomas
Selling Indy Metro, LLC - Avon, IN
Managing Broker, E-Pro, ABR,SRS, SFR

People shouldn't purchase if they don't have the extra resources to do maintenance and updates over time.  People that don't have any extra money after the loan payment and other necessities are asking for trouble.  One big unexpected repair item can cause them to go under.  

Buyers that may have to relocate soon.  

 

 

Jul 24, 2015 05:48 AM
Ambassador
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Plenty of folks shouldn't own a primary or investment property.  Most have been mentioned, but if someone's budget is in a place where they couldn't replace a broken furnace or hot water heater, they need to re-evaluate things.  Owning is much better than renting in the grand scheme of things, but as with most things, it's not for everyone.

Jul 24, 2015 04:58 AM