Real Estate Investing Forums

Miscellaneous => Random Ramblings => Topic started by: rookieNYC on January 11, 2010, 08:06:21 pm

Title: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 11, 2010, 08:06:21 pm
What a stupid topic for a thread right?....

This is a real estate website for real estate investors (for the most part) and this area of the forum is inundated with negativity..Many of the people posting these negative topics own millions of dollars in real estate..Dont be fooled for one second and think they are impervious to this doomsday of the US financial structure..They post ridiculous articles,links etc and dont add in for one minute that their own assets will be imploding in value with this supposed meltdown of the US financial  structure..They are advising you read books by people who are jumping on the bandwagon of negativity..Do some of the facts sound like they will happen,maybe..Just maybe...But the end to prosperity in the greatest country in the world..I wont bet against the US..Maybe in the short term we are in for some tough times but living underground and a Road Warrior type civilization will NOT happen in this country ever..There is too much capital that is invested in this country every day...Even now as we speak there are tons of Europeans buying properties in Florida..TONS...But if you read the paper you read nothing but gloom and doom in the state..These are times when people with money put it to work and make LONGTERM BETS...Is it a time when the college kid can go out and get 6 mortgages simply because he can breathe..NO ITS NOT...And Im happy that we arent in that phase anymore..Lending to people with no money invested is the reason why this country is in such poor shape..But dont think for one minute that the people who post these negative articles,posts,links etc arent going to get their ball$ handed to them just like the masses...Infact the last place I would like to have my money locked up is in Real Estate IF we get this financial meltdown
they speak of endlessly...Yet these same people have MOST of their money locked up in a deteriorating in value asset...Be careful who you listen to
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 12, 2010, 02:40:41 am
Rookie,

You make an excellent point about guarding against hitching onto the bandwagon of negativity.

I’ll refer back to my recent post….”Don’t Miss The Bus”….and it’s charts:

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3585763&cmd=show

You’ll note that there is no initial commentary from me……just charts!

Chart #120 is as good a place to start as any (SPX….that’s S&P 500 and it’s correlation with Gold since 1980)

Of course….I’m not directing this at you….for cripes sake…you’re the one who recommended that I pick up Steve Nison’s Candlesticks book.

But to readers here….this is an excellent chart to start with.

I’m immediately drawn to Gold’s spike upwards in ’01, (the 9/11 tragedy no doubt).

Also notable is the S&P’s resumption of ascent in ’03….and then it’s subsequent freefall beginning in late ’07.

Let’s recap and title these for simplicity sake

a)   Gold Panic of ‘01
b)   S&P Rally of ‘03
c)   S&P Freefall of ‘07

The first one is a no brainer.  A major terrorist attack that directly correlated to the hoarding of gold.

The second one is where it gets fuzzy.  Who knew in ’03 that we were well on our way to one hell of ride, (thanks we know now to slacking of lending standards, the Fed’s cheap interest rates and all that derivative stuff that I still have no inclination to try and figure out….although I did stay at a Holiday Inn last night).

The third….well let me put it this way.  When the masses were opening their 401k statements in early April of ‘09 with jaw dropping expressions…is it safe to say you were heavily buying?

So what’s the point?

Do we just stare at the pretty charts and look for trend lines?

Could care less about that.

So here….if anyone’s interested….is Joe Sixpack Mike’s down and dirty assessment of how to CAPITALIZE on this…..so you don’t miss the next bus.

Get the book….it’s about 60 bucks:

http://www.amazon.com/Japanese-Candlestick-Charting-Techniques-Second/dp/0735201811

In it you will be introduced to what are referred to as time interval candlesticks.  In short, the price of a tradeable’s price action, (whether that be gold, oil, S&P), is visually represented in what actually looks kind of like….you got it…..a candlestick.

Different looking candlesticks….allude to different things, (frantic selling, impulsive buying).  It’s really quite fascinating….while at the same time can be quite boring.  This visual representation is all contained within that one particular time frame….or candlestick as they say.

What are the time frames?  Whatever you want them to be.  You can choose a 1 minute interval or go way out on the time spectrum to a monthly interval.

A major temptation is to focus intra-day…where your likihood when green or a newbie is to get chopped into pieces.

But daily’s and weekly’s (especially when coupled with good buy/sell signaling software) are….to put it bluntly…..awesome.

These are the type of tools that we need to compete.

Our government and bankers, (for better or for worse), manipulated the S&P rally of 2003.

Likewise manipulation was again instituted in 2009.  We can bellyache and banter all we want….but had not the likes of Bernanke and Paulson roundtabled a bailout…we were headed for deep doo doo.

Personally….I’d rather participate.

I might be a week or two late to the party but that’s good enough for me.

What party?

It doesn’t matter to me.

I’ll celebrate long or short.  Prefer long.  Not necessarily because I’m a patriot….just ‘cause the odds favor it.

Hope this helps someone out there.

-Mike

btw…I stand by my “dead dog” comment….which was made in reference to Chart #130, (SPX valued in terms of Gold), from the same charts hyperlink.

Would this affect a trading decision made in March of ’09?  Hell no!

The author’s commentary, (refer to the blue boxed in area), is a good summation.

Anybody looked at foreclosure data lately?

Title: Re: The End is Near ...Sell everything and build a cave
Post by: kj9876 on January 12, 2010, 06:50:45 am
Well said Roookie, I come here because there is at times alot of good information at wealth building. It never made sense to me that these people claiming the end to country that they have so much invested in. If its going to be as bad as there claims they should be selling out and buying a one way ticket out of here!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 07:26:22 am
Well, I don't even know where to start with this thread.  First, caves are naturally occurring and therefore I don't think you need to build one.  A person could build an underground shelter, but I don't think that is necessary unless you live in tornado alley!

Quote
Many of the people posting these negative topics own millions of dollars in real estate..Dont be fooled for one second and think they are impervious to this doomsday of the US financial structure..They post ridiculous articles,links etc and dont add in for one minute that their own assets will be imploding in value with this supposed meltdown of the US financial  structure..

That could very well happen.  If we have a deflationary depression, real estate values could drop significantly.  Additionally, the constantly increasing numbers of foreclosed property could/should cause real estate prices to continue to decrease (the Case-Shiller people are saying another 15%).  Hopefully, the rents will keep coming in and therefore the value of the property won't matter to me.  I need the income stream to maintain my lifestyle, not the equity.  That is exactly the reason that I am holding my rentals instead of selling and buying gold.  While I do expect gold to increase significantly, I just don't know how I would generate a reliable income stream with it.  On the other hand, we could have runaway inflation which would drastically raise the value of real estate, which isn't a particularly good thing since everything else would be inflating also.  What good is it if a $50,000 house becomes worth $1,000,000 house if a loaf of bread costs $50?  

Quote
But the end to prosperity in the greatest country in the world..I wont bet against the US..Maybe in the short term we are in for some tough times but living underground and a Road Warrior type civilization will NOT happen in this country ever

Here we go again!  NO-ONE (except RookieNYC) said anything about living underground or a road warrior type civilization.  What I have said and do believe, is that the United States is BROKE and is going to collapse.  The United States is in the same predicament that Wall Street was before their bust (deep in debt; broke; and running a ponzi scheme).  The big difference is that Wall Street was bailed out by the largest transfer of wealth (theft) in history from the middle class to the Wall Street Fat Cats (which is still in progress).  Unfortunately for the US Government and out country, there is no-one else to steal from, and therefore the government and our country can not be bailed out.

In my opinion, a collapse is absolutely inevitable.  The only question is what will happen.  A severe depression with civil unrest?  A civil war?  States seceding from the union?  Global war?  The other question is what will trigger the collapse.  An oil spike?  A nuke going off in NYC?  Mideast war?

 
Quote
If its going to be as bad as there claims they should be selling out and buying a one way ticket out of here!

Where would you go?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 12, 2010, 07:27:57 am
kj9876,
  That is exactly my point..And for years that I have been here I hear these same talking heads dreaming of the day they can buy properties at a deep discount..That day arrives and they decide to be gripped by fear instead of taking advantage of what is a once in a lifetime oppurtunity..These same people never posted one single time that they were selling into the bubble decade..They kept spewing cashflow cashflow cashflow...Meanwhile the NET money derived from being a landlord is chump change unless you own 50-100 units..These individuals have zero skills for risk assessment and should have no right to post their opinions about money management..Get back to doing what you do best ,mow the lawns and shovel the snow of your cash cows that are losing weight by the day in the implosion of the US financial structure..And keep digging deeper to make that cave nice and dark...Maybe if you dig deep enough we wont have to hear your ridiculous useless babble any more..To think one of these individuals actually sells books on how to make money from Real Estate..I wonder if the last chapter is doom and gloom and dont listen to other 11 chapters because the end is near and these supposed cashcow properties will be vacant and worthless...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 12, 2010, 07:57:45 am
Personally,  I can't BELIEVE Mike hasn't purchased a SINGLE PROPERTY in 2009.....A year that will (in all likelyhood) go down in HISTORY as LOW POINT for Real Estate values....

Don't think so?????

Here's a NEWS FLASH for ya......

When you can buy HOUSES for LESS than the price of a USED CAR????

THAT'S THE BOTTOM FOLKS...........THE  B O  T  T O M

Another measure that has stood the test of TIME for identifyling real estate BOTTOMS?????

REPLACEMENT COST.......When I can buy an entire HOME for LESS than the LAND VALUE........That is a CLASSIC example of market OVER REACTION!!!

My question is simple.....

WHY aren't you people "BEING THE BANK"  It's a BEAUTIFUL BUSINESS MODEL.......You buy a property for PENNNIES on the dollar.  SELL IT to a buyer with decent income and a DOWN PAYMENT, but BAD CREDIT (divorce, foreclosure, ect) and YOU ARE THE BANK.....

NO PHONE CALLS ABOUT BACKED UP TOILETS
NO SNOW SHOVELING
NO MAINTAINANCE
NO PROPERTY TAXES
NO  T E N A N T S
NO BULLSH*T
YOU set the TERMS

You're the LIEN HOLDER.......They NO PAYEE......THEY NO HAVE HOUSEY.
You keep their DOWN PAYMENT, INTEREST, and the HOUSE!!!!!  Then do it all AGAIN!!  Another DOWN PAYMENT, another 2 or 3 years of INTEREST PAYMENTS!!  It's almost hard to believe it's LEGAL.  BUT IT IS!!!!

On an average $100,000 home with a 30 year mortgage the "BUYER" will pay back "the bank" almost $300,000 over the life of the loan....And we all know.....The INTEREST GETS PAID BACK FIRST!!!!
And the BEST PART?????   YOU'RE LOANING MONEY ON REAL ESTATE DURING A HISTORIC REAL ESTATE BUST.........I'm not going to be UPSIDE DOWN on ANY of these properties, UNLIKE the IDIOT  bankers that loaned people $300,000 on a home which I just paid $40,000 for...(Last WEEK!!)
That house will SELL for $200K....I'll be the BANK....They'll eventually pay ME between 2 to 3 times that $200K!!!!!

DOOM and GLOOM?????

More like.......DUMB and DUMBER!!!!

OPEN YOUR EYES PEOPLE.........There's a SALE going on in the GREATEST COUNTRY ever created.  TAKE ADVANTAGE.........NOW!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 11:04:08 am
Quote
Personally,  I can't BELIEVE Mike hasn't purchased a SINGLE PROPERTY in 2009.....A year that will (in all likelyhood) go down in HISTORY as LOW POINT for Real Estate values....

Believe it and I don't plan to buy any more rentals in 2010, 2011, 2012, or in any other year.  I've gotten to where I want to be.  My goal isn't to become a billionaire and be forced to work 24/7.  I have reached the number of rentals that will support my lifestyle and will provide more income as the properties are paid off.  I am not in the rental business so that I can work 9-5!!!  I hate sitting in an office.  I don't want to work everyday.  If I kept buying more and more rentals, I would have to work more and more.  Sure, I know what all the uninformed will say - that I could hire managers, maintenance men, etc and let them do all the grunt work.  However, that would suck up a BUNCH of my cash flow, necessitating even more rentals just to have the income I have today.  I once owned a company with 50 employees and 2 layers of management for about 6 years and I can tell you with 100% certainty that employees are WORSE than tenants.  YUK!

Don't you guys have any goals you're shooting for?  Isn't there ever going to be a point where you've worked enough and will start enjoying the money you've made.  If you make $10K a month, do you need $20K?  If you make $20K, do you need $40K?  If you make $40K, do you need $80K a month?  Is any amount enough?  How about net worth?  If you have $1 Million, do you need $2 Million?  If you have $2 Million, do you need $4 Million?  If you have $4 Million, do you need $8 Million?  How much is enough and how many hours are you willing to work each week to get it?

Yes, there are great real estate deals this year.  There will be even better deals next year.  There were great deals when I bought all my rentals - I just had to work harder to find them during the boom.

Quote
That is exactly my point..And for years that I have been here I hear these same talking heads dreaming of the day they can buy properties at a deep discount..That day arrives and they decide to be gripped by fear instead of taking advantage of what is a once in a lifetime oppurtunity..

You have NOT heard me DREAMING OF ANYTHING!  I bought DOZENS of rentals over the past several years at a deep discount.  I still own every one of them.  Furthermore, this is NOT a once in a lifetime opportunity.  Housing prices are not going significantly higher anytime soon.  There is a HUGE inventory of unsold homes, including huge numbers that are not even on the market. 

If a person is building their rental business, then this is a good time to be buying.  Next year will likely be even better.  Keep buying until you get what you need.  I am not advocating that people stop buying if they are building their business.  Keep going just like normal.  That's what I am doing.

However, I also believe that the economy and the country is going to collapse.  I don't think there is ANY DOUBT ABOUT THAT!  Therefore, I am acting accordingly, which includes stockpiling food, water, and ammo.   How much does it cost to stockpile food, water, and ammo - ABSOLUTELY NOTHING!  Why, because we have to eat anyway and I will go shooting anyway.  All I am doing is buying the food upfront and then taking the food that we eat out of our stockpile instead of going to the grocery so often.  If I am right and the economy collapses, that food (and ammo) could come in quite handy.  If I am wrong, and we go back to normal growth in this country, that's great and I'll be glad that I was wrong!

What none of the naysayers have told us is how things are going to work out.  The federal government is broke.  The federal government has more than $100 TRILLION in unfunded entitlements going forward.  Medicare was going broke before the latest crisis ever happened.  Social security was going broke before the latest crisis ever happened.  We have an increasing number of people who are too lazy to work because the government has promoted laziness through welfare, section 8, etc.  Now, the government is planning to raise huge new taxes to pay for health care reform.  Now, the government is planning to raise huge new taxes to pay for cap and trade.  The government is planning to allow the Bush tax cuts to expire.  Anyone that understands history KNOWS what will happen when all these taxes are raised - LESS MONEY WILL COME INTO THE TREASURY!  Even more businesses will move overseas.  Even more houses will be foreclosed on.   Where is the money coming from to take care of these problems?  I'd like to hear the naysayers explain how everything will be ok!


Title: Re: The End is Near ...Sell everything and build a cave
Post by: phlemboy on January 12, 2010, 03:55:52 pm
In regards to Steve Nison. He also has a great book called the "The Candlestick Course" You can get it on ebay for about $50. You can get his DVD seminars for about $100 - $200. They are WELL  worth the money.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: REIER on January 12, 2010, 04:48:42 pm
Personally,  I can't BELIEVE Mike hasn't purchased a SINGLE PROPERTY in 2009.....A year that will (in all likelyhood) go down in HISTORY as LOW POINT for Real Estate values....

Don't think so?????

Here's a NEWS FLASH for ya......

When you can buy HOUSES for LESS than the price of a USED CAR????

THAT'S THE BOTTOM FOLKS...........THE  B O  T  T O M

Another measure that has stood the test of TIME for identifyling real estate BOTTOMS?????

REPLACEMENT COST.......When I can buy an entire HOME for LESS than the LAND VALUE........That is a CLASSIC example of market OVER REACTION!!!

My question is simple.....

WHY aren't you people "BEING THE BANK"  It's a BEAUTIFUL BUSINESS MODEL.......You buy a property for PENNNIES on the dollar.  SELL IT to a buyer with decent income and a DOWN PAYMENT, but BAD CREDIT (divorce, foreclosure, ect) and YOU ARE THE BANK.....

NO PHONE CALLS ABOUT BACKED UP TOILETS
NO SNOW SHOVELING
NO MAINTAINANCE
NO PROPERTY TAXES
NO  T E N A N T S
NO BULLSH*T
YOU set the TERMS

You're the LIEN HOLDER.......They NO PAYEE......THEY NO HAVE HOUSEY.
You keep their DOWN PAYMENT, INTEREST, and the HOUSE!!!!!  Then do it all AGAIN!!  Another DOWN PAYMENT, another 2 or 3 years of INTEREST PAYMENTS!!  It's almost hard to believe it's LEGAL.  BUT IT IS!!!!

On an average $100,000 home with a 30 year mortgage the "BUYER" will pay back "the bank" almost $300,000 over the life of the loan....And we all know.....The INTEREST GETS PAID BACK FIRST!!!!
And the BEST PART?????   YOU'RE LOANING MONEY ON REAL ESTATE DURING A HISTORIC REAL ESTATE BUST.........I'm not going to be UPSIDE DOWN on ANY of these properties, UNLIKE the IDIOT  bankers that loaned people $300,000 on a home which I just paid $40,000 for...(Last WEEK!!)
That house will SELL for $200K....I'll be the BANK....They'll eventually pay ME between 2 to 3 times that $200K!!!!!

DOOM and GLOOM?????

More like.......DUMB and DUMBER!!!!

OPEN YOUR EYES PEOPLE.........There's a SALE going on in the GREATEST COUNTRY ever created.  TAKE ADVANTAGE.........NOW!!!!


FDjake,

I appreciate all the advice you have given here over the years that's been spot on. For that I want to publicly thank you, Sir. You where spot on with the Ford stock advice and I'm kicking my self for not buying it at $2..3..4..5 dollars a share. You where right, I was wrong for doubting you. I know you and Rookie are spot on with your RE advice.

I lurke here a lot and read all your posts, along with Rookie's and even Mike's (I'm a bit dissapointed with Mike's attitude lately, but I hope he snaps out of it, as I have a lot of respect for him) but I decided to register to thank you and to ask a question on the owner financing post you just made.

You say that you are doing owner financing to these buyers, so I was wondering how you are structuring your deals? Are you creating a note? Or are you doing a lease with an option to buy? If you are doing a note, how do you get around the foreclosure process in the even you need to? In many states it takes close to a year to foreclose.

Thanks.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 12, 2010, 05:01:37 pm
phlemboy....

Glad to see you're into Nison.

That....in itself....says a lot.

If you'd like to carry some discussion further.....feel free to PM me.

-Mike

Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 05:08:56 pm
Let's mark this day.  FDJake has called the bottom for real estate and the economy.  I'd also like to have his prediction on jobs.  

Let me make the contrast very clear.  

FDJake - the bottom is in for real estate.
Mike - the bottom is NOT in for real estate (not even close)

FDJake - the bottom is in for the economy and a boom is imminent
Mike - the economy is going to collapse

FDJake - jobs prediction?
Mike - real unemployment will get MUCH worse.

Mike - I've explained exactly WHY the economy will collapse:  The federal government is broke.  The federal government has more than $100 TRILLION in unfunded entitlements going forward.  Medicare was going broke before the latest crisis ever happened.  Social security was going broke before the latest crisis ever happened.  We have an increasing number of people who are too lazy to work because the government has promoted laziness through welfare, section 8, etc.  Now, the government is planning to raise huge new taxes to pay for health care reform.  Now, the government is planning to raise huge new taxes to pay for cap and trade.  The government is planning to allow the Bush tax cuts to expire.  Anyone that understands history KNOWS what will happen when all these taxes are raised - LESS MONEY WILL COME INTO THE TREASURY!  More debt, less money to the government. Even more businesses will move overseas.  Even more houses will be foreclosed on.  The economy is going to collapse.

FDJake - still waiting for an explanation for the coming boom he predicted!

Quote
I lurke here a lot and read all your posts, along with Rookie's and even Mike's (I'm a bit dissapointed with Mike's attitude lately, but I hope he snaps out of it,

Snap out of it?  What do you want me to do, patronize you and tell you everything will be great.  I'm not jumping on that bandwagon because I simply don't believe it! 

Title: Re: The End is Near ...Sell everything and build a cave
Post by: Hoosier4life2005 on January 12, 2010, 05:23:01 pm
I know many here dont value my opinion at all... but ..  Im with mike 100% on this one.


If you look at the facts, its pretty obvious theres ALOT of trouble coming.  Inflation/Debt/Nanny State policies/lack of manufacturing are all looking really bad right now.  If you look at those charts somebody posted, alot of them are frightning.  We all know the whole story, so im not going to get into it.

I know people have gotten scared many times in this country, and we've always bounced back.  But I have a gut feeling this is unlike any other recession due to our debt and such.

Im not saying you CANT make money in this economy, because you CAN.  But regardless if you can make money, that doesnt mean this country still isnt in a lot of trouble.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 05:33:48 pm
Quote
I know many here dont value my opinion at all...

That's because you're not spouting the party line.  If you were a good little comrade and would support the socialist agenda - you would be welcomed with open arms.  Now repeat after me!

Everything will be alright.  The CHOSEN ONE told me so.
Everything will be alright.  The CHOSEN ONE told me so.
Everything will be alright.  The CHOSEN ONE told me so.

Repeat that 100 times and you'll feel better.  The CHOSEN ONE told me so.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Hoosier4life2005 on January 12, 2010, 05:46:49 pm
(sits back into seat)....

The CHOSEN ONE told me so.  (Repeats 100 times to myself)
----------------------------

 :crossfingers
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 12, 2010, 05:50:02 pm
Mike,
  I still have respect for you...You aren't acting like the stand up guy I thought you were..You will quickly lose respect spewing nonsense like you have been..Moderator or not..Everyone is entitled to their opinions..Even fdjake..And you more than anyone know he and I have bumped heads more than a few times..And this entire argument isnt over predictions,it may be to you it isnt to me..I want to make more money..And I see opps and I will voice my opinion..I could care less what some internet guru says..And I dont buy that you are content that made enough money...BS...How much could you have possibly made in RE in Ohio????..Enough to retire on?..Doubtful...So you can post false and shielded answers to the kiddies on this forum but the people with a few dollars see through the smoke screen of fear you are portraying..We are oppurtunists,irregardless of the economy or BS forecasts or future bumps in the road...For you to say that you dont want to add any more properties to your stable at the current levels is utter and complete BS..Who on earth doesnt want to make a few more profitable investments..Even if you bought the properties and played the bank like fdjake and I do its a huge business..You are setting a poor example to up and coming real estate investors by being paralyzed by fear in the face of oppurtunity..And you are setting a poor example because you more than anyone own "millions of dollars in real estate" during what is surely the most vicious pullback in our history in those assets...So you more than anyone have lost the most here...I firmly believe now is a great time to get started in the real estate business...And as you know Im as far right as one can get on the political front so my opinion isnt based on BO or any other reason than sheer opinion that there is alot more money to be made..

I think you moderators should spend more time fixing all the bugs on this site than posting
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Hoosier4life2005 on January 12, 2010, 05:58:03 pm
Actually, I find what Mike says to be encouraging to me.

Find out how much money you need per month to be happy.  Work hard to get the properties needed to sustain that, and then just be happy not working so much and enjoy life.

Its much better than constantly working, never being happy with anything you have because you always want more.

Ive actually seen this in my personal life before... My dads friends networth is over 10,000,000 (hes actually the guy who told me about this site when I was like 15), but he works 10 hours a day trading (stocks) and working on his rental properties.  Guess what???  Hes STILL not content with his money, and hes now 45, and still working his life away.

To each his own though..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 12, 2010, 06:05:45 pm
You say that you are doing owner financing to these buyers, so I was wandering how you are structuring your contracts? Are you doing a straight out note? Or are you doing a lease with an option to buy? If you are doing a note, how do you get around the  foreclosure process? In many states it's close to a year

Sorry I hope you dont mind if I answer this...I dont own properties like fdjake..I lend Hard Money..But how I avoid the foreclosure courts is to have the borrower sign a deed in lieu of foreclosure..Essentially they are signing the deed over to me and its kept in escrow at my attorneys office in the event the borrower defaults I simply record the deed and choose how I would like to proceed with my new property that I just bought for 30 cents on the dollar..


Hoosier...Its not about just making the money...Its being part of the action and making good smart decisions..I often use the line from my favorite movie Heat with Deniro and Sizemore..."Well ya know, for me, the action is the juice"...I'm in ....
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 07:24:22 pm
Quote
Actually, I find what Mike says to be encouraging to me.

Find out how much money you need per month to be happy.  Work hard to get the properties needed to sustain that, and then just be happy not working so much and enjoy life.

I'm glad that someone understands this issue!  I have posted my business plan and goals from the very beginning on this forum, laying out the exact number of rentals I planned to buy.  I got a little caught up in the buying and exceeded that goal, but finally got back to reality and stopped buying.  My business is now stabilized and I am semi-retired.  Contrary to Rookie's assertions, I have absolutely no desire to buy any more.  While more rentals would mean more money, it would also mean more work and less free time.  What would I do with more money?  Would I buy a bigger house?  My wife and I already have 4 rooms that no-one ever goes into.  Would I buy a bigger motorhome?  I guess we could, but I like the one we have.  Would I buy another motorcycle?  I can only ride one at a time and I really don't want to clean and maintain two of them.  Would we hire another cleaning lady?  I guess we could, but the house is already spotless.  Would I buy another sports car?  I've already got the nicest one in town.  How about putting in a second swimming pool?  I guess we could - my wife could swim in one pool and I could swim in the other - (but what fun would that be).  I think you have the idea.  It's really quite simple.  There simply isn't anything else I want to buy.  I'm satisfied.   

If Rookie or FDJake want to work hard all their lives, that's fine with me.  I do not.  I am very happy working 3-4 hours per day, 3-4 days a week and spending the rest of my time doing other things. 

Quote
Its not about just making the money...Its being part of the action and making good smart decisions..I often use the line from my favorite movie Heat with Deniro and Sizemore..."Well ya know, for me, the action is the juice"...I'm in

I believe that Rookie was telling us the truth when he said this.  Some successful people, like your dad's friend, always need more.  I do not.  I have basically everything I need and want.  I was never in real estate for the thrill of doing real estate.  The "action" (doing deals in real estate) is not my passion.  For me, real estate investing IS ALL ABOUT THE MONEY!  I would be just as happy doing something else if it provided me with the same amount of money and allowed me to work fewer hours.  For me, there are a million other things that I'm interested in.  I enjoy snowboarding, camping, riding my motorcycle, shooting sports, and many other things.  There is always a new challenge.  My latest challenge is getting VERY POLITICALLY ACTIVE and trying to preserve our democracy by defeating the socialists - and that's no small challenge!

Quote
You are setting a poor example to up and coming real estate investors by being paralyzed by fear in the face of oppurtunity..And you are setting a poor example because you more than anyone own "millions of dollars in real estate" during what is surely the most vicious pullback in our history in those assets...So you more than anyone have lost the most here...

More RIDICULOUS NONSENSE.  I clearly articulated my business plan years ago on this forum.  I posted the deals as I did them.  I reached and exceeded my goals.  Now, I'm running a stabilized business and am semi-retired.  Yeah, that's a very poor example.  As to your assertion that I have "lost the most here" - RIDICULOUS!  I haven't lost ANYTHING!  Nothing.  Central Ohio never had the big bubble that many areas had and we haven't had a big bust either.  Real estate prices are certainly down to some degree, but I bought at an average of 50 cents on the dollar (70 cents on the high end and 13 cents on the low end).  I am not upside down on a single rental.  Rental demand is still quite good here and rents are up slightly (although they may be starting to weaken slightly).  I have not sold a single rental and continue to have strong cash flow every month.  As a bonus, I continue to gain equity through the paydown of principal each year (most on 20 year loans).  As the rentals begin to be paid off, the cash flow will dramatically increase.  So, while you claim that is setting a poor example, I would consider that to be a good example of making a plan; executing that plan; and then enjoying the fruits of my labor.

Quote
I firmly believe now is a great time to get started in the real estate business.

The first thing you've said that I agree with.  I would go a little farther and say that ANYTIME is a great time to start in the real estate business.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: REIER on January 12, 2010, 07:26:51 pm
Rookie,

Thanks for jumping in and answering my question. I used to hear investors escrowing the deed for properties all the time, but it seems many “investors” are out of business, so I forgot all about this great move. I used to have rentals and I don't ever want to deal with tenants again if I can help it. All I want to do is flip.

Thanks
Title: Re: The End is Near ...Sell everything and build a cave
Post by: REIER on January 12, 2010, 07:28:06 pm
Mike,

As I already said, I have a lot of respect for you and am not trying to stir the pot here. You've given some great and smart advice over the years about real estate investing and buying at deep discounts when everyone was out there buying like crazy. I don't think I or anyone on this board will convince you that there just may never be a total financial meltdown of the US as we know it. I'm just disappointed that a smart guy like you isn't willing to at least entertain the fact that things may not turn out as bad as you've outlined. I also, just like others, am surprised you've done no REI deals over that past year. I am willing to bet that if you got back into this, you could probably flip some nice properties for some great money, rather than holding them.

Mike, I know a few investors in my area that have been picking up some fantastic deals in this recession. They've told me they have found deals they could have only wished for a few years ago, and they just had the best year in all the years investing. Some guys have been at this for a long time.

Again, I appreciate all the advice you have given in the past about REI on here.



Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 12, 2010, 08:18:58 pm
Quote
I also, just like others, am surprised you've done no REI deals over that past year. I am willing to bet that if you got back into this, you could probably flip some nice properties for some great money, rather than holding them.

There is no "getting back into it"  -  I'm fully in it now.  However, I'm no longer in the acquisition phase of my business.  I'm simply past that part of the business.  I am very happy with the rental business and have no desire to be in the flipping business.  As I've already said, I had (and have posted) very specific goals when I started this business.  I have exceeded those goals and my plans are to simply operate the business I have as the loans are paid off and the equity and cash flow builds.

Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 13, 2010, 06:35:50 am
There is no doubt how valuable a guy like Mike is to the cashflow/real estate up and coming investors here..My argument is that I feel we as investors/businessmen/entrepreneurs can do so much more during these kind of times than  the bubble decade..Maybe I'm forcing my opinion on others ,maybe Mike is as well..The point of the whole thing is to not be paralyzed by fear..After the banking debacle I saw a loophole in the banking/funding side of things during the worst time in history and put ALOT of capital to work..It turned out to be a great move and a business that I have come to really enjoy..I wouldve never had this opp had we not been in these tragic times..A guy I have done some HML's for in the past and some RE deals put it correctly when we were having dinner the other night..He said I'm needed now and during the RE bubble times he wasnt needed..He is making more ROI now,more money now,building a real portfolio of properties,buying from sheriff sales etc..You think he is worried what kind of debt the US has,or what BO is doing within our govt..He could care less..All he wants to know if my funding is ready for the next deal...All because of the times we are in..All of this and my HML business would not be nearly as successful if we were not in such bad times..Like I said before these times are when  people with money put it to work..I admire the fact that Mike feels he has reached the top of the mountain and is content..Me personally its not a # its I couldnt possibly sit back and see all this oppurtunity pass me buy and not take a shot..But all the same I respect his decision to step back..What I dont agree with is how he is using a real estate forum to spew opinions in how dire the US financial situation is..There are plenty of people making size money out there right now...As we speak..To all the newbies out there I say this..Dont be afraid to get started..If you are young and have time on your side take a shot..The people who make moves in times like this are the ones who sell into the masses when the good times return whenever that may be..Dont be paralyzed by fear...And Mike I say this directly to you,think about how your words influence a young investor..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 13, 2010, 08:10:52 am
Same here.....

DEED IN LIEU....

You want the HOUSE???????

You take the deal on MY TERMS.....Otherwise.....SEE YA!!

I have YET to find a single buyer that passed on a purchase due to this arrangement....They have NO ALTERNATIVES.

NEAT, CLEAN, VERY SAFE for me, and as long as they PAY....They end up with the deed!   

My Attorney handles the entire transaction.....I even went one step further an set up an LLC as a holding company just for these deals.....The BUYERS have no idea I have anything to do with the financing....The payments get sent to the LLC's PO box just like a mortgage company or big bank, and no one knows any different.

The further you DISTANCE yourself from these transactions the better.....Not that you're doing anything wrong.....I just don't want  phone calls from the BUYER with EXCUSES for late payments.  DO NOT ATTACH A FACE TO YOUR LOANS....KEEP EVERYTHING SEPARATE!!! If they have a problem, they can deal with my attorney.....That's what I pay him for.

Everyone WINS!!!  AS long as they PAY......If they DON'T.....They "I" REALLY WIN!!!   AS it should be!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 13, 2010, 08:24:33 am
Quote
AS it should be!!!

Great model!

-Mike
http://www.youtube.com/watch?v=_BRv9wGf5pk
Title: Re: The End is Near ...Sell everything and build a cave
Post by: John_in_NC on January 13, 2010, 09:31:32 am
I'm not going to be UPSIDE DOWN on ANY of these properties, UNLIKE the IDIOT  bankers that loaned people $300,000 on a home which I just paid $40,000 for...(Last WEEK!!)
That house will SELL for $200K....I'll be the BANK....They'll eventually pay ME between 2 to 3 times that $200K!!!!!

Pete, I am blown away you can find a 300K dollar property for 40K. I can safely say after watching public record transfers for years, that just doesn't happen in my county. Can you post links to public records for this transaction?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 13, 2010, 11:29:32 am
Quote
I'm not going to be UPSIDE DOWN on ANY of these properties, UNLIKE the IDIOT  bankers that loaned people $300,000 on a home which I just paid $40,000 for...(Last WEEK!!)

Nice price point!

I picked one up for $39k in October.  Not a flip....but fits in with my plans very nicely.

Heck, the lot, (88 x 220), is easily worth $35k. 

Buy 'em when they hate them.

-Mike
http://www.youtube.com/watch?v=SeFiXnEBvBg
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 13, 2010, 11:36:06 am
These are NOT $300,000 houses when I get them.....They're neglected houses that I buy from estates or heirs....NONE of them are ever LISTED on the MLS.......N O N E....

I'll buy a house like that and spend $20K or $30K on it and SELL it for ALL THE MONEY because I AM OFFERING THE FINANCING...

It's like BUY HERE, PAY HERE cars dealers.....They don't sell at Kelly Blue book....They sell OVER book value because THEY offer the private financing....You can't be ridiculus, but I can EASILY sell a home for $300K that comps out at $250K.  REMEMBER.....THERE ARE NO BANKS INVOLVED.....NO APPRAISALS....I lay out the terms and the price....They TAKE IT, or LEAVE IT.

Most buyers understand that even at a higher price point than neighborhood comps....They'll still be OK down the road because housing prices have just been slammed.  The house I SELL at $300K  NOW.....Was sold in 2005 for $500,000.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: John_in_NC on January 13, 2010, 12:18:26 pm
I'm not doubting that you can sell that high that way, I just can't believe that you can buy a house for 40K up that way! The houses I buy for that price requires a concealed handgun every visit.

If my math is right that is 13 cents on the dollar! No WAY!

Can you post a link to public record transaction for that buy?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 13, 2010, 01:10:46 pm
NO WAY.....HUH?????

Take a little trip to the CITY OF PROVIDENCE....

Like this one...

www.providenceri.com

Go to the assessors data and look up 226 Vermont Ave....valued at  $226,000

Now take a peak at what it's PENDING for.......

http://www.zillow.com/homedetails/226-Vermont-Ave-Providence-RI-02905/65942065_zpid/

$60K!!!!!!!!!!!!!!!!!!!!!!!!

Oh...one more item....

There ain't a SNOWBALLS chance in HELL that I'm posting an INTERNET LINK to ANY of my properties, which would also link you to my LLC's, my name, address, ect.  Just to satisfy your desire to UNDERSTAND what's happening here....

This is SIMPLE........You buy a $300,000 house for $40,000 because......

ONE........I'm setting the PRICE based on what I WILL FINANCE someone for....

TWO.......It ISN'T a $300,000 house.....It's a $250,000 house (real market value)

Three......You BUY IT for $40K from an IDIOT that had it LEFT TO THEM, OWED NOTHING ON IT, and didn't want to even CLEAN IT OUT......And SOLD it so he could buy a NEW HARLEY!!!!!!!

I actively ADVERTISE for just such MORONS......They read certain papers, they hang in certain circles....I'm not buying a lot of houses from DOCTORS and LAWYERS.....I also pay BIG FINDERS FEE's to these IDIOTS FRIENDS.....THOUSAND$!!!!

Now how do you think you could CONTACT relatives of DEAD People with FULLY PAID OFF PROPERTIES?????

I just showed you a $226,000 house that is PENDING for $60K........You can't SEE how I could BEAT THAT????  ON a REGULAR basis???

Come on man????  R E A L L Y ?????



Title: Re: The End is Near ...Sell everything and build a cave
Post by: John_in_NC on January 13, 2010, 07:51:45 pm
Ok, just can't believe you can do that up there. Sure wish that was possible here in Raleigh.

Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 13, 2010, 08:22:02 pm
Fdjake,

I don't think anyone doubts that you can find deals.  That said...


The address you posted...    226 Vermont Ave    Providence  RI 02905    is listed for $60K

Comes up on Zillow, with a value range of $181 - 250K, with an average of Zestimate of $245K

But on other more accurate sites like Eppraisal.com and Cyberhomes...

Eppraisal - low of $96K to high of $130K, with an average of $113K

Cyberhomes - $118K

At Cyberhomes, the COMPS (within the last 3-4 months) all sold in the $50 - $69K range. One of those was on New York Ave that you listed to check out.  You can see them here...

http://www.cyberhomes.com/comparables.aspx?propid=81563449


The reason I am asking this, is I am trying to get a handle on how you are determining value.  Zillow is all over the place, so other than knowing the market, and getting a CMA, what other tools do you utilize?

Thanks...


I like the idea of being the banker, but the only challenge I see is, in this market, when people are just walking away from their houses, I'm wondering how many credit-challenged buyers there are that have 20-30% to put down.  How are you finding these buyers?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 13, 2010, 08:50:08 pm
You missed something here....

What I said to JOHN was........I'll never be UPSIDE DOWN in these properties like the BANKERS that loaned someone $300,000 on these houses (in 2005)

They are NO LONGER WORTH $300,000.........That's the POINT of the LINKS....The TAX data is the 2006-07 valuations......Look at what they sell for now!!!

"SO OTHER THAN KNOWING THE MARKET" 

There ISN'T anything else.......YOU KNOW YOUR MARKET or you LOSE YOUR MONEY!!!!

You are 100% correct......The RANGES are ALL OVER THE PLACE.

What ISN'T all over the place is FINANCING!!!!!

I can show you houses in that neighborhood that recently sold for as little as $10,000.......they're SHELLS.....NO HEATING SYSTEMS, NO PLUMBING, NOTHING...

The house I linked IS NOT a property I purchased, or even LOOKED at....It's an EXAMPLE of how WIDE the price ranges are up here.

AS I've said.......SOME PEOPLE.....are RUNNING away from REAL ESTATE at EXACTLY the time they should be BUYING EVERYTHING THEY CAN....The BEAUTY of those WIDE PRICE RANGES is simple.....I can get a price to do what I WANT IT TO.....If I'm BUYING, I use the lower end....If I'm SELLING the HIGHER....

I find my end users the same way I find ALL my houses.......ADVERTISING!!!  EVERYDAY....OVER and OVER and OVER.

Your response is exactly my point......BUYERS looking at these homes see the SAME RANGES you found.....EVEN LOWER....The DIFFERENCE is the CONDITION of the homesand FINANCING OPTIONS!!!!!......SHELLS are dirt cheap because you must be a CASH BUYER, there are NO FINANCING OPTIONS for these properties....Banks won't go NEAR THEM.....AS you move up the CONDITION ladder you move up the PRICE LADDER.  I sit at the very TOP of that ladder because I can FINANCE MY PROPERTIES IN HOUSE and I can IMPROVE the CONDITION......I PICK the BUYER, I SET THE TERMS.......I want someone with CASH but BAD CREDIT........There are people out there that can pull TENS OF THOUSANDS out of retirement accounts or other sources.  They have high incomes but CAN NOT get traditional BANK FINANCING....DIVORCEE"S are a great example...Bad CREDIT because one of them ran up their credit cards prior to leaving....They SPLIT the assets, and someone ends up with a lump of cash but NO CREDIT!!!!  I actively SEEK these people out...Sometimes they seek ME out....Every deal is DIFFERENT, that's why I'll always be involved in this business...It's NEVER the same thing twice.

Another point here........This is MY way of owning residential units LONG TERM.....WITHOUT being a LANDLORD......By financing SOME of my inventory to end users I can make HUGE returns over long periods of time with virtually NO HASSLE.  If they WALK AWAY.....I ACTUALLY MAKE MORE MONEY!!!!  I make MORE because I've ALREADY received their DOWN PAYMENT, INTEREST, and most importantly.....I'M NOT INTO THAT PROPERTY FOR ANYWHERE NEAR WHAT THEY PAID FOR IT!!!!  That house is MINE.....Until it's FULLY PAID OFF!!

The other thing to remember here is this.......I'm not doing 10 of these a month.....It's a OPTION for me if I have a BUYER and a PROPERTY that MATCH UP!!!  There are NOT a lot of these buyers out there.....But they ARE there.....And they DO PURCHASE HOMES THIS WAY.  When you can do it.....YOU DO IT!!!

For guy's like POSITIVE who are just starting out investing, there are OPTIONS for him here too....

MOBILE HOMES!!!!

IMPOSSIBLE TO FINANCE........As a RESULT....You can buy them for LESS than the price of a USED CAR......If you pay CASH for them....THEN offer owner FINANCING you can win BIG TIME!!!!   I did this years ago.....I would BUY a mobile home for $5000 cash........SELL IT to someone with owner financing for $15,000 with a $5000 deposit......They pay me every month on the $10,000.  You set up MUCH shorter pay back intervals on these properties.....But.....You end up making a KILLING with NONE of your MONEY in the property from the day they purchase.....300+++% return with NO CAPITAL OUT LAY (after the buyer's deposit)

The point here is simple....You DO NOT have to put up with TENANT BULLSH*T if you can be CREATIVE and put some CASH TOGETHER....This is why I STILL FLIP HOMES.....It puts consistant 5 and 6 FIGURE  deposits in my bank account.....Those "soldiers" are then put to work on other "projects"  They inturn recruit "NEW SOLDIERS!!!!!"  And on and on!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Dave T on January 14, 2010, 07:30:45 am
While you may not share Mike's opinion of the state of the economy, you do have to appreciate that Mike has achieved financial independence and is content to live off his passive income for the rest of his life.

I don't need the newest and latest gadgets, the biggest house, or the newest car.   I don't need anyone to know how much wealth I have accumulated, and I don't have to keep up with the "Joneses".

I understand where he is coming from.  I have been financially independent since 1998, and have been "retired' ever since.  I don't have to do a deal to put food on the table.  I don't need to have a gazillion $ bank account. 
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 14, 2010, 08:00:20 am
The point here is this.....

IF......IF Mike's "Planet of the Apes" scenerio comes true.....and remember.....This guy say's he's STOCK PILING....GUNS, AMMO, CANNED FOOD, an not just AMMO...RELOADING SUPPLIES and EQUIPMENT!!

IF his worst case scenerio comes true that "INCOME" he's living on is GONE!!!!

If THAT'S your prediction of our future.....WHY wouldn't you be BUILDING cash as FAST as YOU COULD and transferring that cash build into GOLD or some other HARD ASSETS...OUTSIDE THE USA?????

WHY dig a FOX HOLE in "OHIO" and Prepare for WAR with your RELOADING SUPPLIES and CANNED FOOD???

Switzerland rode out WWII UNTOUCHED......Why not move SOME hard assets into GOLD and into THAT banking system?? (Since Mike is constantly telling us how screwed OURS is)  Why wouldn't you be BUYING PROPERTY THERE, he could even rent it to someone, and if your family ever needs a DOOMS DAY BUNKER???....It's a plane ride away!!!  Let  me see????  I have a few choices here..... A guy that loves to SNOW BOARD and HIKE can stay in the "MOUNTAINOUS REGIONS" of OHIO during the LOOTING, RIOTING and CARNAGE or.......ride out the "COLLAPSE" in the SWISS ALPS???   Let me think???   Yea....OK....I'll take the ALPS with a secure banking system and a FUNCTIONING ECONOMY.....I hear the SNOW BOARDING and HIKING are DECENT there too!!!   But....then again....with MY PLAN.....Your CHILDREN won't get to experience all the CRIME, the RAPING, and the RIOTING....They'll miss out on all that "LIFE EXPERIENCE."

IT DOESN'T ADD UP......THAT's the POINT.....That's what ROOKIE noticed, that's what I noticed......Why TELL people you're living in a country that is DOOMED, FINISHED, BROKE, SEEN IT'S BEST DAYS, and go around buying GUNS and AMMO but do NOTHING to preserve what you spent a LIFE TIME building?????

If Mike's country wide RIOT/REVOLUTION scenerio comes true,  I seriously DOUBT his RENT checks will continue to come in....It's ridiculus....Come on.....We're gonna have a complete financial COLLAPSE & REVOLUTION but Mike's TENANTS, who are all LOSER/DEAD BEATS, are gonna keep PAYING him???   Or maybe the GOVERMENT that Mike tells us is BROKE and headed for COLLAPSE will make sure his Section 8 checks keep coming....DURING THE REVOLUTION!!!!!

COME ON......WAKE UP...

You're looking at a time when there is opportunity EVERYWHERE.....If you think this country is DOOMED....GREAT....Start SELLING those rentals and put your money where your MOUTH is...SHUT UP.....GET OUT....MOVE....

Transfer your assets....DO SOMETHING....Don't tell me about stock piling guns and ammo and canned goods....It's freakin JOKE!

Here's a guy that tells us he works 12 HOURS A WEEK.....The Country is going to COLLAPSE, and he didn't buy or sell a SINGLE house in 2009 because he's........................ HAPPY!!!!!!

WHY......WHY.......WHY.....doesn't he really PLAN for HIS predicted upcoming TOTAL COLLAPSE of the USA????
Keep your RENTALS..(in case you're WRONG)..... But Flip as many houses as possible in 2009 and PLOW every PENNY into GOLD and a SWISS Bank account!!!!....Buy a small Villa in the Alps....Rent it.....REALLY protect yourself and your FAMILY....Not some BULLSH*T RAMBO idea of PROTECTION...with GUNS, AMMO stock piles and CANNED GOODS.

If I REALLY thougth a total collapse was coming....I'd want to know my family was SAFE....I had PROTECTED my assets..... and I had LIQUID capital and thus.............OPTIONS!!!

Stock piling AMMO and canned goods for what MIKE says is coming is like hoarding CARDBOARD for HURRICANE season.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 14, 2010, 09:49:53 am
Quote
It's a plane ride away

Brian Regan on that:

http://www.youtube.com/watch?v=G9em-ZCddWk

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 14, 2010, 12:49:01 pm
IT DOESN'T ADD UP......THAT's the POINT.....That's what ROOKIE noticed, that's what I noticed......Why TELL people you're living in a country that is DOOMED, FINISHED, BROKE, SEEN IT'S BEST DAYS, and go around buying GUNS and AMMO but do NOTHING to preserve what you spent a LIFE TIME building?????

Absolutely...It made zero sense to me and thats why I started this thread in the first place..What makes Mike feel like his tenants that are deadbeats already will survive a full govermental meltdown..If this country goes broke him and his tenants will go with it..Thats why to anyone with a half a brain his posts make zero sense..He is more exposed than anyone but the kool aid crowd cant see that..Had he gone to an all cash position in 2007 (when real estate fetched a pretty penny) I wouldve thought this guy is serious..I like the guy but he is not thinking correctly when it comes to management of his personal assets..

Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 14, 2010, 01:09:55 pm
back to fdjake's babysitting comment....

it's got too many roofs....too many toilets....that'll certainly 'cause one to plateau.

but....it IS generating decent cash.....not great, but decent.


I know Mike....he's greedy....just as we all are....well at least I know I am.


if I were Mike, I'd keep things intact but at the same time diversify into something else that's even more lucrative but with far less headaches.

in fact, he's probably already at it.

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 14, 2010, 01:18:27 pm
Here's my PREDICTION!!!!

READY????

SIT DOWN and LISTEN carefully....

Mike........and the UNITED STATES OF AMERICA........PROSPER!!!!!

NO BUST

NO COLLAPSE

NO RIOTS

NO REVOLUTION

NOT A SINGLE SHOT FIRED BY MIKE in ANGER.....

Mike eventually enters a WEIGHT LOSS CLINIC because he EATS his way through 5 YEARS OF CANNED FOOD SUPPLIES stored in his ammo dump.

After slimming down,  Mike does what ALL SEASONED, WEATHERED, SMART, SUCCESSFUL Real Estate investors do.....

HE UNLOADS EVERY SINGLE ONE of his residential rentals and buys COMMERCIAL PROPERTY......
He does this shortly after buying his FIRST commercial property.....When he discovers that if a COMMERCIAL TENANT doesn't PAY......HE'S GONE......BYE BYE,  NO EVICTION PROCESS....NO SHERIFF's.....The LOCKS are changed, and the sign goes up!  FOR LEASE.

THEN.......and ONLY THEN.....Will we read POSTS from MIKE about what a GREAT COUNTRY HE LIVES IN because at that point he won't be dealing with the SCUM OF THE EARTH on a DAILY BASIS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 14, 2010, 04:51:38 pm
I've got to tell you, I don't know how anyone with an ounce of common sense could think the USA is getting ready for a boom and is going to prosper.  To me, that sounds DELUSIONAL!  Neither of you have answered the questions I asked earlier - BECAUSE YOU DON'T HAVE AN ANSWER!  There IS NOT AN ANSWER! 

Look at what happened just today.  The President says he's going to tax the banks, which he claims are now profitable.  Here's a newsflash - THE BANKS ARE NOT PROFITABLE!  The banks HAVE STOLEN wealth from the middle class via the biggest scam in history.  ANYONE WITH AN OUNCE OF FINANCIAL UNDERSTANDING SHOULD BE ABLE TO UNDERSTAND THAT!  The FED GAVE (are giving) the banks money at zero percent interest and then the government paid them 3% for that same money.  It's a shell game and the taxpayer is holding the bag.  If the government gave me the same deal, I would be a billionaire or trillionaire today.  No risk.  No possibility of failure.  IT'S A SCAM!  By putting a TAX on the banks, that tax is really going to the taxpayer who will ultimately be stuck with fees or higher interest rates on their banking to pay that tax.  IT'S A SCAM!  (If either of you disagree - explain it to us).  Rookie said that he's a capitalist and a conservative - THIS SHOULD MAKE YOU FURIOUS!  This is nothing but socialism - the government is essentially controlling the banking industry and a lot of the rest of the economy.

I'm all for making money.  I'm all for you guys doing whatever you want to make money.  However, how about thinking for one minute about something other than yourselves and think what this socialistic transformation is going to do for your kids and grandkids.  This country has been a great country because we were free and because we were a capitalistic society.  That is RAPIDLY disappearing.  The government will soon control another 1/6 of the economy by taking over the healthcare industry.  They already have the banking industry.  They have a big part of the auto industry.  They want to dictate how much energy you use.  They want to take YOUR money and give it to those that are too lazy to work.  Start thinking about someone other than yourself and be concerned about the future of this country!

Look what else happened today.  The president is going to put a tax on Cadillac insurance plans BUT EXEMPTING THE UNIONS!  So, two people living side by side; working in the same industry; making exactly the same money; with exactly the same insurance will be taxed differently.  For what reason?  CONTROL!  It's pitting one American against another.  That's an outrage and the American people are getting sick of it.  This is NOTHING BUT SOCIALISM and it's about time that we take the country back.  When I say "take the country back", I'm not talking about voting out the dems and voting in the republicans - THEY'RE ALL A BUNCH OF SCUM!  We need a new party and a new country that gets back to the principles that this country was founded upon. 

As for your ignorant suggestion that I might want to get out of the country because it is going to fail - I'm not suprised that you would suggest that and I'm sure that you and Rookie might just do that.  However, I am not leaving this country.  THIS IS MY COUNTRY!  I am staying to be part of the this country when the people finally decide to take this country back.  The socialists can get the hell out!

Finally, I'm not some newbie that believes your nonsense about the self-storage business or holding notes or whatever else you've got going.  I have owned several businesses and I know that EVERY BUSINESS has it's frustrations and that no business is easy.  So, do me a favor, and save that crap for some newbie you're trying to impress!  Yes, the rental business can be ugly and so is every other business.  If owning self-storage or holding notes was easy - EVERYONE WOULD BE DOING IT!

The only good thing about this thread is that it's all documented.  It will be very easy to tell who was right and who was wrong.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 14, 2010, 05:14:06 pm
AHHHHH   YES!!!!!!!!

JOHN WAYNE!!!!

"I'm gonna STAY AND FIGHT!!!!!"

For WHO Mike????

All the SCUM BAG POLITICIANS???

Or are you fighting for all the DEAD BEAT LOSER TENANTS you're always telling us about????

Or is it the 50% of Americans that don't work and are on disability that you'll lead the charge for???

Or maybe you can stay and FIGHT for those UNION SLACKERS you hate so much????

SELL IT SOMEWHERE ELSE MAN!!!!

You say ONE THING....Then HOLD OUT YOUR hand for SECTION 8 CHECKS every month.....           

U N B E L I E V A B L E!!

You're gonna ride the GOVERMENT BACKED, SECTION 8 rent check, Bank bail out, Auto company rescue, Health care company backed, GOVERMENT T*T.......Just like you have since you received your first SECTION 8 RENT CHECK!!

BULLSH*T someone else Mike.   PLEASE

I'll let all the PATRIOTS here worry about OBAMA and SOCIALISM.....YOU can continue to collect your SECTION 8 rent checks while working 12 hours a week, SNOW BOARDING, HIKING and Riding your Motorcycle!!!

Looks a little different my MY VIEW MICHAEL..........From MY VIEW....YOU are a SOCIALIST!!!  You DIRECTLY benefit from HUGE Goverment backed programs that "I" pay for......I have NEVER received a section 8 rent check in my life.......EVER.........YOU FEED YOUR FAMILY WITH THEM!!!!!

Go BS some NEW GUY with your PATRIOT stories!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 14, 2010, 05:38:08 pm
Quote
AHHHHH   YES!!!!!!!!

JOHN WAYNE!!!!

"I'm gonna STAY AND FIGHT!!!!!"

I prefer:

http://www.youtube.com/watch?v=Hvf8r3cX3vo

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 14, 2010, 05:39:39 pm
If owning self-storage or holding notes was easy - EVERYONE WOULD BE DOING IT!

I know you didnt direct this at me Mike but I will take a respectful crack at it anyway..Reason why investors go into RE vs HM or notebuying is we as individuals are brought up thinking real estate is the way to get income and wealth creation..Hard Money lending and Self Storage business takes alot of capital also..And many RE investors lack size capital..I mean 500k-1mill..LIQUID..Its far easier to buy some BS 4-8 family property in rural upstate town with %20 down on a 80k property than fund 300k of Hard Money to some investor at %15...Or spend $2 million on some storage facility (which I dont own)..Hard Money and Note buying isnt for the beginning RE investor and may not even be for the experienced investor..You see I hate being a landlord..I hate everything about it but I have other options and many do not..I'm very thankful and appreciative for that but being a landlord is not for me..I think this website glorifies it to much and doesnt expose the reality of the situation that most likely you wont make passive income..$100 per door per month is peanuts for me..The problem is one decent size problem will jeopardize the entire months worth of cashflow...And you as a landlord know problems are ENDLESS..But I know you didnt direct that comment at me..Oh and I have no plans to leave the USA..Yes I'm as far to the right as you can get..I said it before and I will say it again..But the people voted for BO and he won fair and square...The Americans will have to deal with the ramifications of their actions..If I wanted to b*tch about  the  current administration I would go to political website...                                                            
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 14, 2010, 05:46:22 pm
Quote
"I'm gonna STAY AND FIGHT!!!!!"

For WHO Mike????

WITH the MILLIONS of Americans who still believe in the principles upon which this country was founded.

Quote
You say ONE THING....Then HOLD OUT YOUR hand for SECTION 8 CHECKS every month.....

You're gonna ride the GOVERMENT BACKED, SECTION 8 rent check, Bank bail out, Auto company rescue, Health care company backed, GOVERMENT T*T.......Just like you have since you received your first SECTION 8 RENT CHECK!!

I have confidence that you know better than that, so I won't answer this ridiculous claim once AGAIN!  


Title: Re: The End is Near ...Sell everything and build a cave
Post by: phlemboy on January 14, 2010, 07:07:15 pm
I think there are too many Americans that RELY on the govt. to fix things for them.  During this last economic crisis, there were people with their hand out waiting for govt. assistance. There were also A LOT of people saying that the GOVT.  should do this or that.. There were rarely solutions suggested that mentioned  how INDIVIDUALS can fix THEIR OWN PROBLEMS. Just surf some of the news channels and you'll see the people's reliance on someone else (be it govt. or greedy rich people) along the media's attempt to feed into that reliance. Govt. officials see this too and they cater their agenda to the public opinion. The bottom line is that the majority of Americans are too busy looking outside of themselves for solutions to their problems, to mount any kind of meaningful fight to change things. That's because they'd have to look in the mirror for their solution... which they're not willing to do.. It's just too painful and difficult when you don't know any other way..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 14, 2010, 10:44:59 pm
RookieNYC and FDJake,

From my understanding, Random Ramblings is the forum for discussing all these issues...  Good thing, too, IMHO, because I can see how it would clog up other forums...

Your posts in this thread seem to place all the emphasis on what you can make.  For the entrepreneur, the risk-taker, the investor, this will always be the case, no matter the economy. It is a mindset... The challenge is, the more people DEPENDENT on the government, the LESS of us there are out there, and the MORE the government will TAKE to support its dependents.  This will ALSO give the government more POWER as these dependent people will have come to RELY on the government...  this will lead to a LESSER life lived, and IMHO, and evil propagation of the government on it's people...

If it got to the point where you were being taxed 80-90% of your income, it would place an impediment to your growth... You would certainly not feel free...  If you buy into all the socialist arguments, then making a killing on a stock, or making more than 100% return on your investment in RE, could EASILY be seen as a "windfall"...

If you bought Ford at $2.50/share, but were only "allowed" to make a 100% return (i.e. - income CAP), and the rest goes to the government to support the ever increasing DEPENDENT class, chances are, your feelings on this might be different.  Same goes for RE...

The government does not make money, it TAKES MONEY...  That money comes from the private sector...



To put this into perspective...

We just had a $1.4TRILLION dollar deficit...  Our largest budget items are Medicare, Medicaid, Social Security, Defense budget and INTEREST on the national debt...  Out of those five (5) items, only ONE, defense, is an enumerated power in the Constitution.  The other four (4) are BANKRUPT, and we are getting ready to ADD ANOTHER one that WILL end up BANKRUPT also - healthcare (they don't know how NOT to BANKRUPT these programs)...  it is absolutely mind-boggling...

NONE of these budget items are going DOWN in cost, and the WORST part of this past year BS of "too big to fail", is that when inflation DOES come, the INTEREST on all the money we BORROWED will SKYROCKET, and the national debt will BLOOM... 

We can only cut costs or raise taxes... which do you think the government will do?... EVERYTIME the government raises taxes, they have FAILED the people...  BECAUSE it is the PEOPLE who ultimately pay ALL the taxes...




I don't want my kids to live under a government that is unaccountable, tyrannical and oppressive, making them financial slaves in the process...  THAT is why this is important...  People gave their LIVES and their TREASURE to give us the OPPORTUNITY to do what we do today.  People in every generation have fought to PRESERVE our way of life, but we are being undone from within BECAUSE more people don't stand up, think past themselves, and be heard...

One of the most common laments we hear from the "greatest generation" is that people think only of themselves...


As far as Propertymanager going down the tubes if the economy goes, it seems to me he has set himself up well, as there are only three options for people for housing,...  own, rent, or live with someone else who either owns or rents... 
Title: Re: The End is Near ...Sell everything and build a cave
Post by: justin0419 on January 14, 2010, 10:48:32 pm
or option #4:
http://funnyvideooftheday.blogspot.com/2006/03/chris-farley-van-down-by-river-skit.html
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 15, 2010, 06:56:03 am
justin,

nice touch...

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 15, 2010, 06:58:22 am
YESSSSS!!!!!   That's it.....I guess you could make a BOMB SHELTER out of a VAN buried DOWN BY THE RIVER!!!!   And you could STAY and FIGHT by eating a STEADY DIET of GOVERMENT CHEESE!!!!

Let's get back to REALITY.....Shall we????

MIKE is NOT going down the TUBES.....THAT's the POINT.....Let me REPEAT THIS.....ONE MORE TIME for those that missed it the 4 or 5 other times it's already been said....

MIKE will PROSPER.....He won't have to fire a SINGLE SHOT in anger from his AMMO DUMP bomb shelter....

He won't be forced to EAT the YEARS worth of CANNED FOOD he's HOARDING...

BOTH MIKE and THE UNITED STATES OF AMERICA will weather this storm....and as the PLANET enters into a GLOBAL Industrial revolution....America will ride that wave of GROWTH.  It's HAPPENING now people.....In countries where populations are measured in BILLIONS.  That's what he DOESN'T UNDERSTAND......THIS TIME it WON'T be the United States LEADING the world out of recession.....It will be the WORLD leading the United States.....THEY NEED US....WE NEED THEM....There's a REASON some very smart investors are predicting that AMERICAN FARMERS will be the new BILLIONAIRES in the USA.....When you INDUSTRIALIZE and entire COUNTRY that at one time survived on subsistance farming,  YOU HAVE TO FEED THESE PEOPLE!!!  WE have that ability....We will sell them EVERYTHING from FOOD production technology to medical equipment supplies.

WAKE UP!!!

I'M SICK of hearing him YAP about how DOOMED this country is......He SAY'S ONE thing yet DOES either the OPPOSITE of what ANYONE with a BRAIN would do or does NOTHING at all....

If you are so SURE the USA will COLLAPSE, the ECONOMY will grind to a HALT (incuding all your SECTION 8 RENT CHECK TRANSFERS) The people will RIOT, we'll have FOOD SHORTAGES, COPS willl start ROBBING citizens for their FOOD, and you'll need a FORTIFIED BUNKER filed with AMMO, RELOADING SUPPLIES and YEARS of FOOD....

GET OUT NOW.

MacAuthur left the Philipeans inorder to SURVIVE and fight another day.....

If Mike's "Planet of the Apes" scenerio comes true.......

He and his FAMILY can enjoy the alternative to the Philipeans strategy while he stays to "FIGHT"....

THE BATAAN DEATH MARCH

Here's MY PLAN.......

Worry about the things I HAVE CONTROL OVER......

Our GOVERMENT?????   WAKE UP......It's being ADDRESSED as I write this....

KENNEDY's SENATE SEAT........Is looking more and more like it will go to a .............REPUBLICAN   Do you guys have ANY IDEA how BIG that is up here in New England......THAT......THAT one change will ROCK the politicians in this country......Because IF that happens......NO ONE IS SAFE........NO ONE......They will ALL be put on notice......YOU'RE THE NEXT TO GO....

I don't spend my days WORRYING about the UNITED STATES of AMERICA....I don't WORRY because I am 100% INVESTED in the concept....the ideas.....The FUTURE here.....

I'm not going to SWITZERLAND.......I never said I was......BUT.....I never STOCK PILED AMMO and CANNED GOODS either.....If you REALLY, REALLY beilieve (LIKE MIKE) that this country is DONE, FINISHED, OVER......Then SHUT YOUR YAP and tell us how you plan to PRESERVE YOUR  F A M I L Y

Spare me the JOHN WAYNE I'm gonna stay and fight BULLSH*T.....

Here's the REALITY...........CRIMINAL GANGS are better ARMED than our POLICE DEPARTMENTS......Most of the membership in these gangs now have FORMAL MILITARY TRAINING......And they have NUMBERS......ORIGANIZED STRUCTURE and NUMBERS......They literally RUN the prison systems in this country.......

But MIKE......with his canned food, reloading supplies, and RESIDENTIAL RENTAL INCOME will OUT FIGHT these ANIMALS during a COMPLETE COLLAPSE of the USA......That's what MIKE says is coming....

GOOD LUCK MIKE......YOU'LL NEED IT!

But in REALITY.....Here's what MIKE will REALLY FACE......

N O T H I N G   Absolutely NOTHING........His GOVERMENT SUBSIDIZED rents will continue to come in.....He'll continue to put up with all the BULLSH*T owning residential rentals involves......and at some point in the future when his GRANDCHILDREN ask him WHY he has all these OLD GUNS......Mike can tell them about the time he was ready to "stay and fight."
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 15, 2010, 07:06:42 am
well put.

in a word, it's very....

COUNTERPRODUCTIVE

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 15, 2010, 07:25:42 am
Positive Outlook,
  I dont understand the relavance to your post..I DID NOT vote for BO..And if you feel owning some clapboard shacks in a rural country town is setting yourself up pretty good then God Bless you..I like Mike and view this as a friendly argument..Socialism vs capitalism whatever you want to call it will be reversed in time when another administration takes over..Your gripe should be with others here who play both sides of the fence..I dont..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 15, 2010, 07:58:48 am
Here's ALL you need to remember about the good ole USA....

If you WANT TO PROSPER........YOU CAN.......You'll have to WORK for it...BUT IT'S THERE...FOR ANYONE!!!!.....Don't let ANYONE BULLSH*T you into thinking the BEST DAYS of this country are BEHIND US.....

Anyone that sells that line of CRAP....HAS SEEN THEIR BEST DAYS and it's just DOWNHILL for them from here.....DO NOT BUY INTO THAT!!

MOVE OVER.....Let someone else have a shot.....If you think it SUCKS here????

Don't let the door hit you in the @ss on your way out!!!

Oh one last FDJAKE commentary......

If I have to listen to one more person REFER to our people in the ARMED FORCES as................TREASURE......I'm gonna be SICK

They are NOT TREASURE.......This was some jerk offs political SPIN......It gives RICH POLITICIANS that send Americans KIDS into MEAT GRINDERS all over the world some COVER....You can bet your last DOLLAR on ONE THING.......If those same POLITICIANS were actually sending THERE OWN MONEY into these conflicts, their actually LIFE SAVINGS , Their TREASURE.....NOT A SINGLE CENT would go ANYWHERE......But when it's someone ELSES KIDS, they call them TREASURE and send them out to be blown up, shot, and killed.

Don't BULLSH*T me.........Tell me your sending AMERICAN SOLDIERS to fight somewhere.....Tell me your sending Americans,  Tell me your sending TROOPS......Just don't try and BULLSH*T me by calling them TREASURE and sending them into places where they come back with NO ARMS as you work out a SPECIAL MORTGAGE RATE with your inside buddys at BOA to protect YOUR TREASURE!!!

Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 08:17:54 am
Quote
I'm not going to SWITZERLAND.......I never said I was......BUT.....I never STOCK PILED AMMO and CANNED GOODS either.....If you REALLY, REALLY beilieve (LIKE MIKE) that this country is DONE, FINISHED, OVER......Then SHUT YOUR YAP and tell us how you plan to PRESERVE YOUR  F A M I L Y

"Shut your yap".  What the heck is that?  If you don't want anyone to express their opinion, then there's no point to have a forum.

Quote
MIKE will PROSPER

I'm not at all convinced that I will prosper when the economy collapses.   I am continually struck by the fact that no-one will address how the USA will get out of the severe financial problems we have - other than FDJake saying that farmers will be the new billionaires.  I guess that we're to believe that the USA will pay its 100+ TRILLION DOLLAR unfunded liabilities from farming?  LOL!  I guarantee you that we will not solve our problems by farming!!!  The environmental wackos have already shut off water to the most fertile areas of California (because a 2 inch minnow is in danger).  How are you going to farm with no water???

If you guys are SERIOUSLY thinking that everything will be alright - then answer my questions.  In case you've forgotten the little details that need explaining, here they are:

What none of the naysayers have told us is how things are going to work out.  The federal government is broke.  The federal government has more than $100 TRILLION in unfunded entitlements going forward.  Medicare was going broke before the latest crisis ever happened.  Social security was going broke before the latest crisis ever happened.  We have an increasing number of people who are too lazy to work because the government has promoted laziness through welfare, section 8, etc.  Now, the government is planning to raise huge new taxes to pay for health care reform.  Now, the government is planning to raise huge new taxes to pay for cap and trade.  The government is planning to allow the Bush tax cuts to expire.  Anyone that understands history KNOWS what will happen when all these taxes are raised - LESS MONEY WILL COME INTO THE TREASURY!  Even more businesses will move overseas.  Even more houses will be foreclosed on.   Where is the money coming from to take care of these problems?  I'd like to hear the naysayers explain how everything will be ok!

Quote
I'M SICK of hearing him YAP about how DOOMED this country is......He SAY'S ONE thing yet DOES either the OPPOSITE of what ANYONE with a BRAIN would do or does NOTHING at all....

Quite the contrary.  I think that when one honestly looks at the situation, the only possible outcome is that the economy will collapse.  Furthermore, I think I'm doing EXACTLY what a person should do under these circumstances.  I'm continuing to run my business and generate income.  I'm in a business that supplies a service that people will need even during a collapse.  I'm stocking up on food, water, and ammo so that I can protect and feed my family if necessary.  That seems perfectly logical to me.

Quote
If you are so SURE the USA will COLLAPSE, the ECONOMY will grind to a HALT (incuding all your SECTION 8 RENT CHECK TRANSFERS) The people will RIOT, we'll have FOOD SHORTAGES, COPS willl start ROBBING citizens for their FOOD, and you'll need a FORTIFIED BUNKER filed with AMMO, RELOADING SUPPLIES and YEARS of FOOD....

GET OUT NOW

As I said, I'll let others get out - I'M STAYING!  I think PositiveOutlook said it very well:

To put this into perspective...

Quote
I don't want my kids to live under a government that is unaccountable, tyrannical and oppressive, making them financial slaves in the process...  THAT is why this is important...  People gave their LIVES and their TREASURE to give us the OPPORTUNITY to do what we do today.  People in every generation have fought to PRESERVE our way of life, but we are being undone from within BECAUSE more people don't stand up, think past themselves, and be heard...

One of the most common laments we hear from the "greatest generation" is that people think only of themselves...

Excellent comments by PositiveOutlook!

Quote
If I have to listen to one more person REFER to our people in the ARMED FORCES as................TREASURE......I'm gonna rip someones throat out....

They are NOT TREASURE.......

I can't think of anything that is more valuable than our armed forces - THEY ARE OUR TREASURE!  Furthermore, there are things worth fighting and dying for - such as protecting our freedom and maintaining our way of life (capitalism).  Hundreds of thousands of our finest men and women have died to gain and preserve that freedom and we owe them a debt of gratitude.  In addition, we owe it to them to ensure that our freedom isn't taken away by the socialists currently in Washington (and I mean dems AND republicans).
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 15, 2010, 08:23:40 am
Hey Mike.....

Do me a favor...

When you buy your VAN to bury down by the river to ride out the COLLAPSE......

MAKE SURE IT'S  A   F O R D

There's ANOTHER Mike prediction that never occured.....The BANKRUPTCY of FORD MOTOR COMPANY!!

It not only DID NOT happen......BUT EXACTLY.....EXACTLY what I warned Mike would happen.....HAPPENED.....He would buy Ford stock and instead of just HOLDING IT.....He would try and TRADE IT.....Which he did...I further warned him that at some point the stock would MOVE on him and mentally he wouldn't be able to BUY BACK a stock at $8 that he originally owned at $3...This is EXACTLY what happened to Mike....EXACTLY.....And now that FORD is the darling of the automotive press and $11/share.....MIKE DOESN'T OWN ANY.   That's OK.....He did it HIS WAY.....My point is he didn't LISTEN to advice he was given.....HE KNEW BETTER......In the end......HE WAS WRONG!  I also told MIke that "I"...."ME".....had learned this lesson years ago THE HARD WAY...I went into great detail about it.....I wasn't trying to show him how SMART I was.....It was a friendly warning.....Like telling someone......Hey....I made the SAME MISTAKE you are about to and it cost me BIG PROFITS...DON'T DO IT LIKE I DID...I don't want to see it happen to you...But he knew BETTER!!!

I've been wrong TOO......WE all have......My point is simple.....KEEP YOUR EYES OPEN......Take off the BLINDERS.

Mike couldn't understand how FORD could turn around.  He said they were going bankrupt just like GM and Chrysler.   Just because HE couldn't see how it could be accomplished doesn't mean it FAILS TO OCCUR!!

Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 08:44:21 am
In all fairness, I don't think I ever predicted that Ford would go bankrupt, although I certainly thought that was a possibility.  However, I definitely was wrong about the level Ford would reach, as I expected it to go back down at about $6.  So, no matter how you look at it, I was wrong about Ford (at least in the short term).

On the other hand, I know of a certain internet prognosticator who lost $40,000 on some QQQ shorts.  So, it appears that neither of us is going to be the next prophet.  In fact, I would go so far as to say that the ONLY PROPHETS that are right 100% of the time are found in the bible!

Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 15, 2010, 08:52:30 am
100% TRUE MICHEAL.......

BUT........You FORGOT to mention our little stock picking experiment here......I seem to remember making a LARGE 5 figure profit on GOODYEAR that MORE than off set the Q loss...and the FORD INVESTMENT????

GRAND SLAM.......and it ain't even WARMED UP YET!!!!!!

ONE MORE POINT.....

How did JAKE lose on that Q investment??????

HE BET AGAINST THE UNITED STATES ECONOMY.......I TOO thougth things would DROP further....

I WAS WRONG...

The differnece between MIKE and I?????

I LEARN from my mistakes......He's a draft horse.....Just keeps PULLING!!!

I meant that in a good way Mike....

This is all BS anyway Mike....I respect you and what you've accomplished....Your book on rentals is the BEST I've ever read and I personally MAKE anyone I know well BUY IT before they invest...

AND.......You could be right in the end.....WE SHALL SEE! :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 09:14:17 am
..and let's all pray that you are right.  If I'm right, things won't be so pleasant.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 15, 2010, 11:01:17 am
Quote
both sides of the fence

long...

or short, (little or no leverage)

doesn't matter to me.

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 15, 2010, 11:57:52 am
RookieBYC,

"I dont understand the relavance to your post..I DID NOT vote for BO.."

I never mentioned BO...  

"And if you feel owning some clapboard shacks in a rural country town is setting yourself up pretty good then God Bless you."

No, what I am saying is that setting yourself up so that the income from your investments provides you with the lifestyle you want with a weekly time investment of 12-15 hours, you're not doing so bad....  It's all relative...  a Billionaire might look at someone with a goal of $10million for their retirement and think the same...  same goes for the guy who is a Millionaire looking at someone who has a goal of paying off their mortgage and having a "nest egg" of a $250K and think the same...

You can't take it with you, and if you are living the lifestyle (no matter what that is... it's YOUR definition after all) you want off the investments you've made in under a decade...  I don't know how you can look at that and NOT call it setting yourself up pretty good...

"I like Mike and view this as a friendly argument."

I get that... my post was simply making the point that if the government decided that YOU'RE method of investing was considered a "windfall" and TAXED you 90% above your 100% investment return, whether it be in stocks or RE, that you might have a different feeling on it...  After all, it would take you MUCH LONGER to get where you are now...  so think about it like this...  others before you fighting for the idea that you should be allowed to prosper and NOT have the government TAKE it from you because THEY thought it was "too much" for one person...

As long as someone ELSE'S Ox is being gored, it doesn't matter much to people...  but when it comes to THEIR ox... that's another matter altogether...

I have and will continue to spend my lifetime promoting the limited size of government, accountable government, original intent of the Constitution, FREEDOM, as little taxation as is necessary, etc...

"Socialism vs capitalism whatever you want to call it will be reversed in time when another administration takes over."

Well, at least we're in agreement that socialism is being implemented...

"Your gripe should be with others here who play both sides of the fence..I dont.."

I didn't have a gripe... If you look at the post again, I was basically making three points...

People are becoming MORE and more dependent on the government, and less RELIANT on themselves, NECESSITATING the government in finding MORE and MORE ways to TAKE the peoples money through taxation...  this dependence INCLUDES businesses who are "too bog to fail"... what a bunch of BS that is...

Because of this, we are now in the position of the GOVERNMENT, never mind healthcare, of being UNSUSTAINABLE...  Once you pass 50%, you are NO LONGER FREE!

Drawing attention to the fact that the cliche' of "Freedom isn't free"...  it REQUIRES diligence, otherwise, we end up where we are... the LARGER government becomes, the LESS chance we have of ending CORRUPTION, theft, and our undoing from within...

The one thing that made America special throughout history was our founding... it established that the PEOPLE were in charge, with unalienable rights endowed NOT through government, but from God... it was a BREAK from all other forms of government...  but the more we just ignore what's happening around us, the MORE we become victims of tyranny and the LESS free you are... this leads to the RICH AND POWERFUL being more corrupt to protect their way of life... the average person does not have that position...  They do the same in EVERY country...

America is a GREAT nation...  no other country in HISTORY has given MORE of it's blood and treasure WITHOUT taking over other countries in the process...  but make no mistake, we ARE being undone from within... whether or not we can overcome it, only time will tell...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 01:45:10 pm
The thing that I think is so shocking at this point is the obvious bribery and corruption that is occurring.  I mean I find it stunning that the government would raise taxes on everyone with a certain level of insurance BUT NOT UNION MEMBERS.  Equally shocking is that Nebraska would be exempt from paying for Medicaid.  It's outrageous and this kind of unequal treatment could very well lead to a civil war.   Throw in a bunch of new taxes (healthcare, cap and trade, expiration of Bush tax cuts, etc) and the American people may finally say ENOUGH!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 15, 2010, 02:23:55 pm
As long as someone ELSE'S Ox is being gored, it doesn't matter much to people...  but when it comes to THEIR ox... that's another matter altogether...

Without sounding unconcerned my Ox is getting fatter every day..I'm not here to debate the problems of our government..The current administration will make their moves to take and I will make my moves to make..To sit here and debate and point fingers is not my style..I'm not some nutcase who has 42 bumper stickers on his car saying I told you so etc..I play the hand that is dealt to me..I wish you the best with your fight against socialism..We will never live in perfect world,all I want is a decent trade and I see alot of trades infront of me..Until that D-day of taxing occurs I will continue to buy on the bid and sell on the ask while you and a world of others argue over these matters..This is a waste of my time...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 15, 2010, 02:40:07 pm
RookieNYC,

"all I want is a decent trade and I see alot of trades infront of me.."

Hence the lament of the "greatest generation" of people thinking only of themselves...  I would submit that this type of individual apathy is exactly why we are where we are and why future generations are at risk...  you of course, are free to follow your own course...

".Until that D-day of taxing occurs I will continue to buy on the bid and sell on the ask while you and a world of others argue over these matters..This is a waste of my time..."

As we can see, the two are not mutually exclusive...  if they were, we wouldn't even have a country to begin with...

Good luck on your next trade...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 15, 2010, 02:52:15 pm
When I have the kind of cash in the bank that some of you more experienced investors talk about having, I can see how you keep after it, no matter the strategy, whether flipping, buy-and-hold, storage units, etc...

Hence the lament of the "greatest generation" of people thinking only of themselves...  I would submit that this type of individual apathy is exactly why we are where we are and why future generations are at risk...  you of course, are free to follow your own course...

Which one is it Positive Outlook?...I will use one of my all time favorite movie lines on you now because of that snide remark..
Anybody who tells you money is the root of all evil doesn't have any...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 15, 2010, 03:20:17 pm
RookieNYC,

"Which one is it Positive Outlook?"

Like I said... neither are mutually exclusive...  as far as a snide remark goes, it was an observation... but sometimes the truth hurts no matter who says it...

"...I will use one of my all time favorite movie lines on you now because of that snide remark.."Anybody who tells you money is the root of all evil doesn't have any..."

Funny, I don't think I ever said money is the root of all evil...  nor do I believe that... so doesn't apply to me...

I have money... it may not be as much as you, based on what you post, but that is a matter of degree...  Do you somehow think you are superior BECAUSE of money?  I will leave you with one of my favorite quotes that helps keep life in perspective...

"What does it profiteth a man if he gains the whole world, but loses his soul"...

I love what can be done with money, money makes the world go round... but money isn't everything...  you can't take it with you... it's the impact you make with it that is important, just as the rest of your life that doesn't require money...  Like I said, they are not mutually exclusive...

To each his own...   :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 03:35:10 pm
Quote
I wish you the best with your fight against socialism..We will never live in perfect world,all I want is a decent trade and I see alot of trades infront of me..Until that D-day of taxing occurs I will continue to buy on the bid and sell on the ask while you and a world of others argue over these matters..This is a waste of my time...

Where have I heard that before....oh, yeah:

First they came for the communists, and I did not speak out—because I was not a communist;
Then they came for the trade unionists, and I did not speak out—because I was not a trade unionist;
Then they came for the Jews, and I did not speak out—because I was not a Jew;
Then they came for me—and there was no one left to speak out.

Something to think about.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: John_in_NC on January 15, 2010, 03:46:26 pm
BINGO!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: REIER on January 15, 2010, 03:58:43 pm
Quote from: rookieNYC

"The current administration will make their moves to take and I will make my moves to make."

"I play the hand that is dealt to me."

"We will never live in perfect world,all I want is a decent trade and I see alot of trades infront of me."

I have to agree with your statements here. I wish as an individual I could make significant changes in the world, but the reality is I can't. In order to make significant changes it takes a concentrated effort by many. I try to worry about what I can control and not what I can't as just one individual in a world of many.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 15, 2010, 04:05:21 pm
To whom much is given... much is required... 
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 15, 2010, 04:35:07 pm
LOL...I have to sit back and laugh at what this thread has turned into..It has made me realize why I didnt post for so many months..This site has turned into an apologist meeting..Mike and Positive Outlook have excuses for their shortcomings and they feel better trying to make others feel responsible for not being some politically obssessed nutcases like they are...The point of this thread was how you (MIKE) are crying foul and not playing like you say..You and PO and have spun this into something totally different..If you are right you lose and if you are wrong you lose also..Thats the way I see it..I enjoy the the fruitless banter that exists from your kool aid crew..PO with his philosophical quotes just show his lack of business sense..Instead he chooses to spend his time playing good guy bad guy..Funny how everyone ends up on real estate investment site...Even if it is in the Random Ramblings section ,many of the opinions coming from the kool aid crew are quite the contrary to capital preservation or correct money management under an impending financial meltdown...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 15, 2010, 04:41:58 pm
Quote
I have to agree with your statements here. I wish as an individual I could make significant changes in the world, but the reality is I can't.

I'm glad that the founding fathers didn't have an attitude like that!

Quote
This site has turned into an apologist meeting..Mike and Positive Outlook have excuses for their shortcomings and they feel better trying to make others feel responsible for not being some politically obssessed nutcases like they are...

What shortcomings?  That I choose to be semi-retired and enjoy life?  That I don't want to spend the rest of my life chasing deals just for the sake of doing a deal?  That I'm actually concerned that the country is being destroyed by the socialists?  That I think that taking our country back is VERY IMPORTANT?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 15, 2010, 05:09:09 pm
Mike
 I would post about how Im semi retired too,how I vacation,how much I surf etc..But it would just open me up for comments from the have nots...You arent the only one who enjoys relaxing and not working..Infact the main reason why I got into the funding side of real estate was to work less and make income..Difference is I LOVE TO WORK...I love to make deals...I enjoy it more than sitting out in the lineup surfing..Sounds crazy huh?...Its not work when you love what you do...allagash will tell you how much time I spend relaxing for *months* at a time..Not playing who has the longest **** here but I highly doubt you relax more than me..I can do both..I can do deals while Im away..All I need is the laptop and my email access to speak to my attorneys and brokers...So I dont think you are doing something wrong with wanting to relax but semi retired you are not..Is there really such a thing as semi retired anyway?...You either are or are not...Im not..I take pride in my business sense and my ability to earn even in the darkest of times..I wont let you or PO downplay that with testing my devotion to my country because I dont choose to cave into fear..Its always darkest before dawn..Its what I have learned...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 16, 2010, 12:04:55 pm
RookieNYC,

"Mike and Positive Outlook have excuses for their shortcomings and they feel better trying to make others feel responsible for not being some politically obssessed nutcases like they are..."

Shortcomings???   :biglaugh   While I am the first to admit that I have them, tell us oh great prognosticator, what YOU think they are...

"The point of this thread was how you (MIKE) are crying foul and not playing like you say..."

The initial point was flawed which is why it didn't evolve into what you had hoped... 


"You and PO and have spun this into something totally different.."

These threads follow their own direction, which is one of the reasons it is hard for any thread to remain on topic...  but in this case, the original point was flawed from the start... 

"Thats the way I see it.."

And that makes it right?

"I enjoy the the fruitless banter that exists from your kool aid crew..PO with his philosophical quotes just show his lack of business sense.."

LOL... I thought it was a "waste of your time"...  in reality, not that I feel I need to justify anything to you, but to show you don't know what you are talking about...  Over the years, I have worked for others as an employee, been recruited to build a company division within a company (by reputation... I wasn't looking), which I EXCEEDED expectations and were in the BLACK within the first 12 months, and owned my own companies...  there was only time I did not excel in the companies I was involved with...  then again, we all have those, some more than others...   :biggrin

As far as "philosophical quotes just show his lack of business sense" that speaks more to your linear thinking than anything else...  do you think that just because you say it, it makes it so...  LOL

"Instead he chooses to spend his time playing good guy bad guy.."

Oh brother...   :rolleyes    This from the guy who says he "wasting his time" and then goes on to post MORE...

"Even if it is in the Random Ramblings section ,many of the opinions coming from the kool aid crew are quite the contrary to capital preservation or correct money management under an impending financial meltdown..."

I see, YOU are the arbitor of this...



"I would post about how Im semi retired too,how I vacation,how much I surf etc..But it would just open me up for comments from the have nots..."

This speaks a little deeper than you realize...  for someone so secure in his position in the world, you are careful not to put yourself out there...

"You arent the only one who enjoys relaxing and not working.."

Don't we all... the point is, is that in less than a decade, Propertymanager placed himself in a position where IT IS HIS CHOICE...  that is making your investment work for you no matter how you look at it or try to demean it...

"Infact the main reason why I got into the funding side of real estate was to work less and make income..Difference is I LOVE TO WORK...I love to make deals..."

Which is it?  If you LOVE TO WORK, why do you want to work less?...  You are talking out both sides of your mouth trying to criticize someone who set a goal for himself (Propertymanager), EXCEEDED it, and now he is enjoying the fruits of his labor...  interesting logic...

"I enjoy it more than sitting out in the lineup surfing..Sounds crazy huh?...Its not work when you love what you do..."

One of the great cliche's...  it's true to a point, but EVERY profession has parts we all dislike...

"allagash will tell you how much time I spend relaxing for *months* at a time..Not playing who has the longest **** here but I highly doubt you relax more than me..I can do both..I can do deals while Im away..All I need is the laptop and my email access to speak to my attorneys and brokers..."

Here you are, speaking out of both sides of your mouth again... you say you LOVE TO WORK more than surfing, but relax for months at a time...  which is it? 

IMHO, if you are working on vacation, you are not truly on vacation... you are just deluding yourself... vacation is focus on something OTHER than work (i.e. - family, fun, travel, etc.)... smelling the roses, as it were... kinda hard to do when the ozone from the laptop gets in the way or the deal is in the back of your head is in the forefront when you are trying to take in the love of your family... everybody does it different, but at this stage of the game, vacation to me is enjoying things OTHER than work and sharing it with your family... but that's me...

"So I dont think you are doing something wrong with wanting to relax but semi retired you are not.."

So you feel you can define for Propertymanager his lifestyle?

"I take pride in my business sense and my ability to earn even in the darkest of times.. I wont let you or PO downplay that with testing my devotion to my country because I dont choose to cave into fear..Its always darkest before dawn..Its what I have learned..."

To my recollection, neither Propertymanager or I have called into question your individual devotion to your country.. we've pointed out where we stand and what others do and have done...  if that is how you feel, you may want to consider what your true feelings are on the subject...

While it is true it is always darkest before the dawn, it is also true that the daylight shows the dark for what it truly is....
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 16, 2010, 12:42:09 pm
Positive Outlook,
If you must have your hand held throughout my posts to comprehend them then pay attention..


When I say WORK..I mean doing deals when I'm away ...And I do stay AWAY at my house in the corridor for months while I take the sun,surf,go out to dinner..And yes I cant comprehend semi-retired..Is that like semi-pro,or semi-socialist,or semi-communist,or semi-a$$hole?...

Your laughable accomplishments might impress a child but they dont do much for me..I wouldnt doubt if you worked in a 7-11 and couldnt care either way...

And yes I proved my point many times over..You dont profess your opinion that the country you have so much invested in is going bankrupt while you are holding numerous pieces of income properties that are hosuing section 8 tenants and expect that you will some how miraculously weather the storm unscathed...

I know your type PO...The internet was designed for you..You can dream up eloquent answers that make you look special somehow in your small little world but you fool no one except yourself why you are here...

Question for you...Why are your last 500 posts !!! only in the Random Ramblings section if you are so well versed in business and savvy as you say???.Surely a successful corporate bigwig like yourself has something more to offer this forum than just polictical battles?.From glancing over your history of posting I can tell that you enjoy these internet battles because its what you do best..Break ball$ and stay safe infront of your little screen while you aggravate others with your endless and often pointless posts..Infact out of 988 posts a staggering 895 posts are on the Random Ramblings forum...Like I said before you have nothing to offer other than political badgering and internet battles...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 16, 2010, 02:16:07 pm
RookieNYC,

"If you must have your hand held throughout my posts to comprehend them then pay attention.. "When I say WORK..I mean doing deals when I'm away ...And I do stay AWAY at my house in the corridor for months while I take the sun,surf,go out to dinner...""

LOL...  THAT's your answer to your own contradictions?  That changed how?   :rolleyes

"And yes I cant comprehend semi-retired..Is that like semi-pro,or semi-socialist,or semi-communist,or semi-a$$hole?..."

You can picture semi-vacation, but can't picture semi-retired?  Stretch a little there Rookie...

"And yes I proved my point many times over..You dont profess your opinion that the country you have so much invested in is going bankrupt while you are holding numerous pieces of income properties that are hosuing section 8 tenants and expect that you will some how miraculously weather the storm unscathed..."

And yet somehow Propertymanager just weathered the current storm and YOU profess to not only doing the same, but BETTER...  you may want to consider changing your monicker to Two-Face if you keep speaking out both sides of your mouth...  Yeah, point proven...   :rolleyes

"I know your type PO..."

As I do yours...  you define your overall worth from money... probably the reason why you can't separate your work from vacation...  according to your theory, you can't be semi-working or semi-vacationing, you either are or you aren't, right?...

"The internet was designed for you..You can dream up eloquent answers that make you look special somehow in your small little world but you fool no one except yourself why you are here..."

LOL...  you...  Investor, yes...  armchair psychoanalyst...  no....  nice try though...   :beer


"Question for you...Why are your last 500 posts !!! only in the Random Ramblings section if you are so well versed in business and savvy as you say???."

I am not a real estate expert... the other forums are designed for that... I do however, post where I think I can be of help in those forums...  

Interestingly enough, with all your expertise, just about HALF of your postings are ALSO in Random Ramblings...  you are following a template and don't even know it...

"Surely a successful corporate bigwig like yourself has something more to offer this forum than just polictical battles?"

Like I said, I am not a real estate expert... yet...  but when I have something to offer that matches my experience, I will be glad to offer it...  Business plan development, computers, websites, developing and implementing budgets, remodeling, employee relations, etc.  PICK ONE... and I'll be happy to share what I know...  If not, then your criticism is void...

"From glancing over your history of posting I can tell that you enjoy these internet battles because its what you do best.."

Its what I do best?...  certainly your opinion, but careful, in stating it, you are assigning value to it...  I ENJOY discourse...  I suspect you do also, which is why someone with all your experience spends HALF his posts in Random Ramblings...  however, you don't find me calling names, and the sort... I am interested in other POV's, because it is one way to test what you truly believe... whether you can state and defend your position or modify it based on ideas you haven't considered...  the advantage of the internet, is that it EXPANDS the idea-base you come into contact with beyond your own little bubble...

"Break ball$ and stay safe infront of your little screen while you aggravate others with your endless and often pointless posts.."

And yet, after you stating that you are "wasting your time", you CONTINUE to go on and on, all in the hope of proving what?  Careful of those glass houses, Rookie...

"Infact out of 988 posts a staggering 895 posts are on the Random Ramblings forum...Like I said before you have nothing to offer other than political badgering and internet battles..."

Do you feel badgered, Rookie?  Something for you to consider...  I've started less topics than you, so I am RESPONDING to topics and discussions started by others...  it takes very little time to post....  so your assertion... is mute...

Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 16, 2010, 04:02:48 pm
hmmmm...But you failed to mention that %95 of my posts on Random Ramblings have to do with stock market related issues..Not like your battles on political nonsense...

Amazing you know so much yet u have done nothing..Jack of all master of none...

I have guided and helped many make money on this forum..Im sure you can say the same Mr.Corporate big wig...Make my coffee dark with 2 equal while you are at it..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 16, 2010, 04:21:43 pm
Rookie's the real deal......I'd like to rip his head off sometimes....But the guy's a straight up CAPITALIST and he ain't afraid to share his experiences here.  Which in my opinion are always interesting...I don't always agree with him....But the guy's no dope.

He doesn't ARGUE just for the sake of it.....His comments on this topic were spot on, no BS.... just simple REALITY.
If people here REALLY think this country is FINISHED,  they shouldn't be BURIED in NON LIQUID, REAL ESTATE RENTALS...Especially in OHIO!!!..  It doesn't take a Noble Prize in economics to understand this.

You can't DO ONE THING and SAY another, OVER and OVER without other investors just shaking their heads!!!

That's all this is about......Mike's a great guy....very smart, built himself a GREAT business from NOTHING......BUT THIS COUNTRY IS NOT GOING TO COLLAPSE into RIOTS, LOOTING, and REVOLUTION......IT'S NOT HAPPENING.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 16, 2010, 04:28:08 pm
Quote
I have guided and helped many make money on this forum

"don't waste your time on useless, bs research....stick with...."

 :bigthumbup

-Mike

Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 16, 2010, 05:37:10 pm
RookieNYC,

"hmmmm...But you failed to mention that %95 of my posts on Random Ramblings have to do with stock market related issues..Not like your battles on political nonsense..."

Battles?  Is that how you view it?... shame...  BTW, go to your "latest posts" in your profile, and surprise yourself... 

"Amazing you know so much yet u have done nothing..Jack of all master of none..."

LOL...  just words by you backed up by nothing...  so back that up...  tell me what I've done in my life beyond the limited posting I let you in on...  otherwise, you just look foolish posting it... Something tells me we struck a cord...

"I have guided and helped many make money on this forum..Im sure you can say the same Mr.Corporate big wig..."

Oh, I see, if you've helped people on this board only, it counts...   :rolleyes    right into the template...  FYI, this isn't the only board I visit... I've helped MANY also over the years...

"Make my coffee dark with 2 equal while you are at it.."
No problem... I don't have a problem doing for others, nor do I consider it beneath me oh mighty one...    :beer   Those who wish to be first, will be last, those who are last will be first...



Fdjake,

"Rookie's the real deal......I'd like to rip his head off sometimes....But the guy's a straight up CAPITALIST and he ain't afraid to share his experiences here.  Which in my opinion are always interesting...I don't always agree with him....But the guy's no dope."

I never said he was... nor did I say he wasn't a capitalist... nor did I say he doesn't share... last I saw, that was him saying it about others...

"He doesn't ARGUE just for the sake of it.....His comments on this topic were spot on, no BS.... just simple REALITY."

Nor do I... just because I disagree with position doesn't make it arguing for the sake of arguing... if that's the case, then his position is arguing for the sake of arguing... after all, Rookie is the the one who said this was a "waste of his time", but then kept going on and on and on... 

"If people here REALLY think this country is FINISHED,  they shouldn't be BURIED in NON LIQUID, REAL ESTATE RENTALS...Especially in OHIO!!!..  It doesn't take a Noble Prize in economics to understand this."

I've never said the country was finished, but we are in serious condition...  when your main creditors are telling you that you need to stop spending, and that the WORLD does not have more money to just keep giving you, it's time to take notice... when the amount you are spending is set to INCREASE all across the board... there IS an issue...

"That's all this is about......Mike's a great guy....very smart, built himself a GREAT business from NOTHING......BUT THIS COUNTRY IS NOT GOING TO COLLAPSE into RIOTS, LOOTING, and REVOLUTION......IT'S NOT HAPPENING."

I don't believe it will be happening BECAUSE the people have been condition NOT to uprise... that's the point isn't it... get them so dependent on the government for their needs, that if they DO uprise, they cut off their own goodies... the larger the government gets, the MORE corrupt it becomes, not less...



Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 16, 2010, 06:31:25 pm
Quote
"If people here REALLY think this country is FINISHED,  they shouldn't be BURIED in NON LIQUID, REAL ESTATE RENTALS...Especially in OHIO!!!..  It doesn't take a Noble Prize in economics to understand this."

I disagree and I have already explained the reasons why.

Quote
I don't believe it will be happening BECAUSE the people have been condition NOT to uprise... that's the point isn't it... get them so dependent on the government for their needs, that if they DO uprise, they cut off their own goodies... the larger the government gets, the MORE corrupt it becomes, not less...

I think it will happen because there is no way for the economy to recover from here, and once it collapses there will be enough pain to cause the people to revolt.  I agree that the people have been conditioned to remain ignorant and depend on the government for everything, but once the pain gets bad enough, they will revolt.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 16, 2010, 06:35:30 pm
The GOVERMENT hasn't CONDITION ME not to UPRISE......I get NO GOVERMENT ASSITANCE.....Of ANY KIND......Unlike a guy here that RECEIVES GOVERMENT HAND OUTS FOR HIS RENTALS!!!!   Maybe HE won't uprise because, based on Positives thinking, HE TOO has been CONDITIONED by the GOVERMENT....

"GET THEM SO DEPENDANT ON THE GOVERMENT FOR THEIR NEEDS, THAT IF THEY DO UPRISE, THEY CUT OFF THEIR OWN GOODIES."

TOO MUCH WACKO CONSPIRACY CRAP HERE FOR ME....

One guy constantly CRYING about Goverment handouts....BUT HE TAKES THEM....... EVERY MONTH!!.....and the other SUPPORTING HIM TAKING THOSE SECTION 8 Checks and complaining about HANDOUTS!!!   

You can't make this sh*t up!!!!

The reasons AMERICANS won't RISE UP is simple.....

Our economy will do what it has done after EVERY RECESSION IN HISTORY.....

RECOVER and GROW!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 16, 2010, 07:02:57 pm
Propertymanager,

"I think it will happen because there is no way for the economy to recover from here, and once it collapses there will be enough pain to cause the people to revolt."

There's a difference between people revolting for the good of the country vs. the good of themselves...  To get to the former, they have to backtrack to before the mindset of government dependence...  that is a long trek back, and to be honest, the government will continue to offer more and more goodies (i.e. - longer unemployment, healthcare, subsidies, etc.).  IOW, they will have to get through their own individual pain, before they even think about the others... 

I think there will be a recovery because I don't believe they didn't see it coming...  American has a great capacity to come back, but each time, it is hindered by government....  One thing we kept hearing about TARP was that we HAD to do it, otherwise everything would collapse.... but RIGHT AFTER they got it passed, the Troubled Asset Relief Program became a great big goodie bag and because Congress didn't do their job and write it into the bill, they did what they wanted...  The banks are laughing all the way, well, to the bank!

"I agree that the people have been conditioned to remain ignorant and depend on the government for everything, but once the pain gets bad enough, they will revolt."

When that eventually happens, people who are reliant on the government will riot for the government to help not revolt to get back to our roots...


FDjake,

"The GOVERMENT hasn't CONDITION ME not to UPRISE......I get NO GOVERMENT ASSITANCE.....Of ANY KIND......"

It is much harder to condition someone with an entrepreneurial mindset...  you'll note that is not taught as much... 

"Our economy will do what it has done after EVERY RECESSION IN HISTORY..... RECOVER and GROW!!"

Yes, and other countries who live under tyranny do the same, recover and grow... the difference is we are becoming more like them, not less...  and therein lies the problem...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 16, 2010, 08:15:29 pm
"We are becoming more like them."

I just DO NOT see this.....HONESTLY.....

The REALITY of it is this......THEY are becoming MORE like US.

We have a group in power right now BECAUSE of an OVER-REACTION to a PREVIOUS group in power....

That very group currently in power is about to LOSE IT.....

This is where people sell the USA short.....they ASSUME it will take RIOTS and REVOLUTION to change things.......But it NEVER does....Changes comes in UNDER THE RADAR......

Look at the FALL OF COMMUNISM?????   Where were the WARS with the Soviet Union we spent BILLIONS and BILLIONS preparing for?????  We were BULLSH*TTED.....   Where was the REVOLUTION???   The VIOLENT OVER THROW of Communist RUSSIA????   A COMPLETE and UTTER change in GOVERMENTS all over Eastern Europe without a single shot fired in most cases....no war, no revolution, no riots.....IT CAME IN LIKE A GHOST.....

The BERLIN WALL fell with KIDS DANCING ON IT........NOT BODIES HANGING FROM IT!!!!

WAKE UP.......Too many freaks out there are calling for this crap....IT NEVER HAPPENS THAT WAY!!

IT WON'T BE HAPPENING HERE EITHER.......BUSINESS as USUAL.....Just the EBB and FLOW of political parties and their popularity in lock step with the same ebb and flow of the economy.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 16, 2010, 10:05:59 pm
Quote
One guy constantly CRYING about Goverment handouts....BUT HE TAKES THEM....... EVERY MONTH!!.....and the other SUPPORTING HIM TAKING THOSE SECTION 8 Checks and complaining about HANDOUTS!!! 
   

Here's a newsflash - Section 8 is NOT a handout for the landlord, any more than being a firefighter is getting a handout from your local government or selling airplanes to the air force is a handout to Boeing.   I provide a service to the government for which I am properly reimbursed.  On the other hand, Section 8 IS a handout for the slackers that receive it because they have done nothing to earn their free housing.

Quote
Look at the FALL OF COMMUNISM?????   Where were the WARS with the Soviet Union we spent BILLIONS and BILLIONS preparing for?????  We were BULLSH*TTED.....
 

RIDICULOUS!  Tell the tens of thousands of Americans that died in Korea and Vietnam fighting the communist threat!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 17, 2010, 07:20:05 am
You spin it anyway you have to Mike......You're the one working 12 HOURS PER WEEK and cashing the goverment checks!!!!

The bottom line is this.....

I don't SIT HERE and CONSTANTLY CRY about GOVERMENT hands outs.....I also don't sit in CRY on CHRISTMAS, or THANKSGIVING, or 4th of JULY or any of the other Holidays I spend in a FIRE STATION....WORKING!!!

Mike last week we had a 42 year old guy WALK into the Firehouse I work in to THANK US...He and his wife and kids were all crying because on THANKSGIVING DAY he had a massive heart attack.....When the Engine & Rescue turned the corned to his street.....HIS 10 YEAR OLD DAUGHTER WAS STANDING IN the DRIVEWAY....SCREAMING!!!!    The guy was DEAD, no pulse, no breathing, we defibbed him, dropped a breathing tube down his throat, and did CPR....HE'S ALIVE TODAY because of the  S E R V I C E  we provided.

Comparing YOUR SNOWBOARDING, HIKING, MOTORCYCLE RIDING, 12 hour, GOVERMENT SECTION 8 CHECK CASHING work weeks to what a FIREFIGHTER does is.....

PATHETIC!!!!!!!!!!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 17, 2010, 07:26:46 am
MIKE.......Both KOREA & VIETNAM.......REMAINED COMMUNIST!!!  We TRIED the WAR theory......IN North Korea the communists are STILL there....In VIETNAM.......THEY WON!!!!!!   You made my POINT!!!  and THOUSANDS of AMERICANS dies to LIBERATE WHO?????   The Vietnam people that lived in GRASS HUTS????......AND STILL LIVE IN GRASS HUTS!!!

You spin it anyway you have to Mike......You're the one working 12 HOURS PER WEEK and cashing the goverment checks......ALL WHILE CRYING ABOUT WASTE and GOVERMENT SPENDING!!!!!!!!

The bottom line is this.....

I don't SIT HERE and CONSTANTLY CRY about GOVERMENT hands outs.....I also don't sit and CRY on CHRISTMAS, or THANKSGIVING, or 4th of JULY or weekends or any of the other Holidays I spend in a FIRE STATION....WORKING!!!

Last week we had a 42 year old guy WALK into the Firehouse I work in to THANK US...He, His wife and kids were all standing there crying......He told us that on THANKSGIVING DAY he had a massive heart attack and we were the crew that responded......Then it hit us....This was the guy whose 10 YEAR OLD DAUGHTER WAS STANDING IN the DRIVEWAY....SCREAMING when the trucks pulled up!!!!    This guy was DEAD, no pulse, no breathing, DEAD......We defibbed him, dropped a breathing tube down his throat, and did CPR....HE'S ALIVE TODAY because of the  S E R V I C E  we provided......This is done on a DAILY basis in every Fire Department in the WORLD. 

Comparing YOUR SNOWBOARDING, HIKING, MOTORCYCLE RIDING,  GOVERMENT SECTION 8 CHECK CASHING, 12 hour work week "SERVICE" to what a FIREFIGHTER does is.....

PATHETIC!!!!!!!!!!!!!

But it's a GREAT INSIGHT into how YOU cope with what you SAY and what you DO......Bitch about GOVERMENT spending NON STOP....But ride your motorcycle down to the bank to WITHDRAW that GOVERMENT money so you can work 12 hours a week.....

MIKE........YOU ARE A SHINING EXAMPLE OF A DOUBLE TALKIN' SOCIALIST!!!!

It's a SERVICE if YOU collect the money......But it's a HAND OUT to your TENANTS!   As a matter of FACT....That MONEY never even enters the HANDS of your tenants.....IT GOES DIRECTLY into YOUR bank account!!

HOW CONVENIENT!!!    You don't even have to ride your MOTORCYCLE down to the bank.....IT MIGHT BE RAINING the day you need MONEY to by another REMOTE CONTROLLED AIRPLANE......... with TAX PAYER MONEY!!!!!!!

Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 07:43:03 am
Quote
I don't SIT HERE and CONSTANTLY CRY about GOVERMENT hands outs.....I also don't sit in CRY on CHRISTMAS, or THANKSGIVING, or 4th of JULY or any of the other Holidays I spend in a FIRE STATION....WORKING!!!


Sorry to hear about that.  I don't work on holidays.

Quote
But it's a GREAT INSIGHT into how YOU cope with what you SAY and what you DO......Bitch about GOVERMENT spending NON STOP....But ride your motorcycle down to the bank to WITHDRAW that GOVERMENT money so you can work 12 hours a week.....

MIKE........YOU ARE A SHINING EXAMPLE OF A SOCIALIST!!!!


I'll try to break this to you gently - if I'm a socialist (I'm not) - you are too!  I provide a service to the government (housing) and get paid for it.  You provide a service to the government (firefighter) and get paid for it.  Of course, we both already know that.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 17, 2010, 07:50:05 am
You don't WORK on Holidays????

Who do you think your BULLSH*TTING Mike????   You WORK whenever that PHONE RINGS.....You just like to TELL PEOPLE you only work 12 hours/week when it suits your needs....When a WATER HEATER lets go in one of your UNITS your out there.     "I DON"t WORK HOLIDAYS."   What a JOKE......Yea....right.....and you ONLY spend 12 hours a week tending to DOZENS of rentals occupied by "LOSERS"

And the DIFFERENCE between you and me IS......................

I DON'T constantly BITCH about the GOVERMENT.......UNLIKE YOU.....Taking GOVERMENT HAND OUT MONEY with one hand and WRITING your BULLSH*T with the other....

Just stop......You look like a freakin joke.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 07:59:16 am
I intend to continue to shout it from the rooftops; attend tea parties; march on Washington, etc, etc, etc until we take our country back! 

Quote
Who do you think your BULLSH*TTING Mike????   You WORK whenever that PHONE RINGS.....You just like to TELL PEOPLE you only work 12 hours/week when it suits your needs....When a WATER HEATER lets go in one of your UNITS your out there.     "I DON"t WORK HOLIDAYS."   What a JOKE......Yea....right.....and you ONLY spend 12 hours a week tending to DOZENS of rentals occupied by "LOSERS"

You've been a landlord, so you KNOW that the 3am water line break or Christmas Day water heater failure is more urban legend than anything else.  If my counting is correct, I'm now in my 7th year as a landlord and I have NEVER gotten a call in the middle of the night or on a holiday for some catastrophic failure of anything.   In fact, in that 6+ years, I've only had maybe 2 water heaters actually fail (I try to replace them BEFORE they fail) and 5 or 6 waterline breaks (mostly from freezing before I installed PEX).  I have had a handful of people that made the mistake of calling to inquire about an apartment late at night and they got an earfull!  However, to be fair, if I ever do got a call that a water heater has sprung a major leak on Christmas, I would explain to the tenant how to shut off the water to the water heater (using the shutoff valves right on the top of the water heater), and would even go shut it off myself if needed.  Obviously, you can't buy a water heater on Christmas, so I wouldn't be changing the water heater on Christmas Day, even if I wanted to.   So, you are correct, it is possible that I would have to spend 1/2 hour shutting of the water on a failed water heater on a holiday, although it hasn't happened yet.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 08:56:35 am
Rookie's the real deal......I'd like to rip his head off sometimes....But the guy's a straight up CAPITALIST and he ain't afraid to share his experiences here.  Which in my opinion are always interesting...I don't always agree with him....But the guy's no dope.

Ty FDjake...I feel the same about you also..I know we butt heads at times but you have a creative business sense..Infact I will IM you later about some thoughts I have on some topics you have discussed here..Buying these props at a deep discount (all cash) and reselling them at a much higher price and then holding the mortgage interests me very much and in my opinion doesnt differ very much from my hard money business..I will IM you later..

Propertymanager (Mike)
I bring this topic up in a respectful tone and as you know I do have experience being a landlord..Have you ever considered selling some of your income properties the way that FDjake and I discussed here..Being that you bought them at a deep discount and have a good amount of equity you could easily sell some of them for a higher price with owner financing..Surely being that you know the real numbers that you net can figure what it needs to be sold for and have the mortgage % at a good rate to insure your net is close to the same..You take a % down on the property and you hold the mortgage for 30 years with a 5 year call if you want..I know when I owned properties there is always one or two that were the lemons of the bunch and this move is perfect for unloading them and making a huge income for years to come still...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 09:41:28 am
Quote
I bring this topic up in a respectful tone and as you know I do have experience being a landlord..Have you ever considered selling some of your income properties the way that FDjake and I discussed here..

Rookie,

In a word - no.  Actually, I have THOUGHT about just about every aspect of this business and in reality did "sell" a couple of properties on lease-option early on (got them back after tenant left).  However, as I said earlier, I believe that just about every business has the same pros and cons.  For example, if you "sell" a property here in Ohio on a note (like you're discussing) and then have to take it back, the foreclosure process can easily take A YEAR.  During all that time, the deadbeat is living in your house for free and obviously not doing any maintenance.  I've seen and bought foreclosed properties enough that I know how they end up.  A MONSTER downpayment certainly helps, but very few people have bad credit, yet a big pile of money.   I'm not saying it's a bad business, but in my opinion, it's no better than the business I have.  I have a friend that is now at the two year point in trying to get one of his properties back!  UGH!

The same is true of the hard money business.   You're lending money to subprime borrowers - otherwise they certainly wouldn't be paying hard money rates and fees.  With that, you'll be taking a significant number of those properties back, in various stages of disrepair.   Again, I'm not saying that it isn't a good busienss, but in my opinion, it's no better than the business I have.  Moreover, I like the rental business and I believe that I'm very good at it. 

The bottom line is that I'm very content with what I have and don't plan to change anything.  The only thing that would prompt me to buy more properties or change my strategy would be a change in the tax situation -such as drastically higher taxes.  In that case, I might be forced to buy a few more rentals to maintain the same income.  The socialists are desperately trying to DRASTICALLY raise taxes on everyone and obviously that could force me to modify my plan.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 09:46:37 am
Every single one of my deals and my Hard Money Loans are deed in lieu of foreclosure..I took back one property already and it took days ...So Im baffled that your attorneys havent advised you that you dealing with the foreclosure courts is quite the amateur move..There are far more complex ways to structure deals to safeguard yourself from dealing with the masses in the foreclosure courts..And why would an investor be living in  NOO property???????...I also had a seller forge documents and sell the property and the title comapny had to pay me off recently I made %50 premium to what was owed..Process took 3 extra months and the legal fees were minimal..When done correctly there simply is no comparison to the money that can be made doing hard money vs being a landlord..Zero comparison..Hard Money and holding mortgages is by far light years a better business..Issue is most people dont have the funds to do it,and thats why its not commonly heard about..Lets not forget that Im lending at %50 LTV and taking my years worth of interest and points off the top..So essentially Im into my mortgages at %30 LTV with a signed deed in escrow at my attorneys office..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 09:57:32 am
Quote
And why would an investor be living in  NOO property???????

Other than a rich investor living in a very expensive apartment in NYC or something like that, I don't know.  I don't know any investors that live in NOO properties.  Did I mistype something in one of my posts?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 10:02:56 am
During all that time, the deadbeat is living in your house for free and obviously not doing any maintenance.

Yes u did say this ..So Im puzzled..And what about addressing the rest of my post...ty
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 10:12:26 am
If you sell a house to a person who stops paying, then the deadbeat is living in your house for free while he is being foreclosed upon.  What am I missing here?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 10:15:37 am
Every single one of my deals and my Hard Money Loans are deed in lieu of foreclosure..I took back one property already and it took days ...So Im baffled that your attorneys havent advised you that you dealing with the foreclosure courts is quite the amateur move..There are far more complex ways to structure deals to safeguard yourself from dealing with the masses in the foreclosure courts..And why would an investor be living in  NOO property???????...I also had a seller forge documents and sell the property and the title comapny had to pay me off recently I made %50 premium to what was owed..Process took 3 extra months and the legal fees were minimal..When done correctly there simply is no comparison to the money that can be made doing hard money vs being a landlord..Zero comparison..Hard Money and holding mortgages is by far light years a better business..Issue is most people dont have the funds to do it,and thats why its not commonly heard about..Lets not forget that Im lending at %50 LTV and taking my years worth of interest and points off the top..So essentially Im into my mortgages at %30 LTV with a signed deed in escrow at my attorneys office..

In case you didnt see the last post...And I dont sell to owner occuppied..Only NOO investment properties that get rented out..fwiw you are missing alot..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 10:18:17 am
Sorry, I thought you were talking about something I posted.  I didn't realize that you were only selling property to investors.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 10:19:40 am
understood....and I missed the Bill Gross article you posted..Dont tell my boss :rolleyes
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 10:45:58 am
Does Bill Gross saying it affect your opinion at all?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 11:45:54 am
In short no it doesnt change my mind..To be honest I didnt find the article that bad..Did he flat out call our economy a ponzi scheme..Not exactly..He did make comparisons and suggest that NYC and CA going bankrupt was unthinkable and highly unlikely..And he did say not to bet against the US Govt and that he and many investors should buy what they are buying or piggybacking essentially what I spoke about a week ago here..There is little doubt that the future is a big question mark and keep in mind that Bill Gross manages I think in the area of 100 Billion dollars..With that much capital he has to make very calculated decisons that allow him to stay somewhat liquid if he needs to make a timely exit..Lets look at GS..Where did they make most of their record profits this year???..You guessed right if you say buying toxic assets and or mortgages at pennies on the dollar..They essentially did one better than the LTO loan to own business..Many of the properties they sold in 2007 for record profits they bought back for 20 and 30 cents on the dollar..And why did they do that???..Because they know full well these assets are undervalued now and they captured an enormous arbitrage..Not many hedge funds are playing the LTO business but we have been in this business for 3 years now..So our business model actually profits from this doomsday scenarios because they shake the tree and force weak hands to fold into our laps..Would I bet the farm on the equity markets here..HELL NO...Would I continue buying properties with a LTO business model at 30 cents on the dollar ..ALL blankin day long..I follow who is making money and to see the money that GS has made with this model is staggering..My college roommate took home an unheard of bonus from GS this year because his division made record profits doing LTO deals..Bill Gross has to play by a different tune because his business model is far different than ours and managing that size money has his feet held to the fire more than anyone..The future will tell us how this economy weathers this storm..But in the meantime there is serious wealth being created or changing hands however you want to put it..One deal that sticks out in my head is the property/office industrial park that GS sold in 2007 for $300 mill and recently bought back for $80 mill...What about Stuyvesant town in NYC..The biggest Real Estate deal in history done in 2007 for $5.4 Billion...They say that property is worth $2.5 Billion now..I would bet money that GS waits for that to drop a bit more and buys it...Point being it all depends on what business you are in when you consider how bad or how good things are..I personally love the LTO business model but a guy like Bill Gross depends on the good times to keep rolling to manage his returns..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 02:10:56 pm
GS can do ANYTHING they want to do because they know that they are 'TOO BIG TO FAIL".  That is a big part of the reason that the economy is doomed to fail.  They can make ANY bets they want and they have absolutely no risk of failing (until the government fails).  GS and the government are for all practical purposes ONE AND THE SAME because they and the other big Wall Street firms no longer must live by capitalist principals.   Bet big and win - GREAT!  Bet big and lose - YOU WIN ANYWAY because the government won't allow you to lose.  ANY OF US COULD BE BILLIONAIRES UNDER THOSE RULES!

If the government would make me the same deal, I'd be a billionaire in a year.  I would give up my 12-16 hour work week, hire a bunch of people and we'd buy every property in sight (not particularly worrying about the price).  We'd rent them all out using property managers and I wouldn't care whether I make a fortune or was in the red by billions.  If I made a fortune - GREAT!  If I was in the red by billions, the FED would buy my toxic assets and loan me BILLIONS at zero interest.  IT'S A PONZI SCHEME as Bill Gross said.  There's no longer anything real in the banking industry/auto industry/Fannie/Freddie, etc, etc, etc.  It's all a scam and the middle class is going to pay the price through its destruction.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 17, 2010, 02:23:45 pm
mike,
Im not a billionaire nor am I funded by the US govt using tarp funds and I made a killing this year..So I respectfully disagree that you need the govt assistance to make size money..And Bill Gross also said that he recommended partnering up with the govt..I actually recall the comment was underlined in the article also..Had Bill Gross said the US economy was a ponzi *scheme* which he didnt he wouldnt have said to partner up and follow the govt investment trends because they have the biggest wallet...You seem hell bent to twist this article into your own opinion.And you also need to stop going to that idiotic website infowars..Thats the same nutcase who claimed 9/11 was an inside job..LOL...fwiw had a guy like Bill Gross said the US economy was a Ponzi *scheme* it wouldve caused a crash in the bond and equity markets..he did not say this and you need to slowly reread this article...

PIMCO’s view is simple: shake hands with the government; make them your partner by acknowledging that their checkbook represents the largest and most potent source of buying power in 2009 and beyond. Anticipate, then buy what they buy, only do it first: agency-backed mortgages, bank preferred stocks, and senior bank debt; Aaa asset-backed securities such as credit card, student loan, and auto receivables. These have been well-advertised PIMCO strategies over the past 6 months but there are others in clear sight.


[iThere is legitimate concern as to the ultimate destination and outcome of our “bailout nation.” Realistically, quantitative easing, a two-trillion-dollar expansion of the Fed’s balance sheet, and the near certainty of future budget deficits approaching 6-7% of GDP should alert bond investors to once again become vigilant as was the case in the 1980s and 90s. Vigilantes we should be, but that is a battle to be fought in the Treasury market where low yields offer little reward and increasing risk. For now, our Ponzi-style economy and its policy remedies encourage bond investors to mimic Uncle Sam and its global compatriots. Buy what they buy, but get there first. Andrew Mellon would surely have disapproved. Liquidation was his game. Wimpy? Well, he’s gonna have to start paying for those burgers on Monday, even in a bailout nation.

William H. Gross
Managing Director
][/i]

http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2009/IO+Gross+Jan+09+Andrew+Mellon+vs+Bailout+Nation.htm
Title: Re: The End is Near ...Sell everything and build a cave
Post by: phlemboy on January 17, 2010, 02:34:18 pm
While the banks were bailed out by the govt., the banks are finding that having the govt. in their back pocket, regulating every move is limiting their ability to do "business as usual". That decreases their earnings power. Just look at JPM's latest earnings report. They beat the earnings estimate but sales and future outlook declined. Now the govt. wants to tax the banks that engage in "risky business". With the banks under such a big microscope, I don't see the "good ol' days" that brought down the financial industry coming back anytime soon.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 17, 2010, 02:46:45 pm
They SHOULDN'T come back.......EVER!!

Loaning guys in California that literally PUSHED LAWN MOWERS $500,000 when the guy only earned $40K a year was doomed to fail.
But that's what happens when you have a Federal Reserve Chairman like that MORON Greenspan actively ENCOURAGING people to use the "New mortgage products banks are developing"

Here's the bottom line........It's VERY SIMPLE

One camp thnks the USA is DOOMED, FINISHED, BROKE, and headed to RIOTS and REVOLUTION.

The other camp thinks this is the same HYPE sold to the MASSES during the REAL ESTATE BOOM.....Remember the EXPERTS that told people there would NEVER be a Real Estate bust because there were MORE PEOPLE than PROPERTIES?????   Where are these morons now????

My guess is they've all opened GUN SHOPS!!!!  They now spend their days selling AMMO and weapons to the same dopes that purchased 4 PRE-CONSTRUCTION FLORIDA CONDOS over the PHONE (because if they didn't SOMEONE ELSE would grab them)

NO RIOTS.....NO REVOLUTION.....Just a economy that eventually catches up with itself......Right now we have OVER CORRECTED.....The STOCK MARKET has ALREADY figured this out.

NEVER......EVER......Sell This Country Short......NATIONS have tried it and had their @SSES handed to them......The results will be the same for INDIVIDUALS!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: phlemboy on January 17, 2010, 02:58:44 pm
As long as there is an endless supply of income (tax revenue), the problems will continue to be pushed forward by mortgaging our problems to future taxpayers by printing more money and selling our debt to other countries. As long as these items remain intact, the problem and solution will remain the same.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 17, 2010, 03:28:15 pm
Quote
So I respectfully disagree that you need the govt assistance to make size money..And Bill Gross also said that he recommended partnering up with the govt..

I didn't say or imply that anyone needed government assistance to make size money, nor do I believe that.  And, heck yeah, Bill Gross said to partner up with the government!  If you're a big bank, car company, Fannie, Freddie, or anyone else that the government says is too big to fail - you've got a free ride.  Do WHATEVER YOU WANT, including screwing up so much that you trash the entire economy and the government will bail you out.  If you're a big Wall Street bank, they'll make your bad assets to away and give you interest free money.  Better yet, you can take that interest free money and they'll pay you to use it!!!!!!!!!  WHAT A SCAM!  

What it really is is THEFT FROM THE MIDDLE CLASS!   The heads of these banks and many government officials should be in jail, or better yet, hanging from a lamp post in Times Square to send a message to other people who commit these CRIMES.  How many retirements have this scum destroyed?  How many people are off work because of these greedy Wall Street scumbags and their friends in Washington?  It's the crime of the century and instead of these criminals paying the price, the middle class is suffering.

Quote
fwiw had a guy like Bill Gross said the US economy was a Ponzi *scheme* it wouldve caused a crash in the bond and equity markets..he did not say this and you need to slowly reread this article...

C'mon, his exact words were "our Ponzi-style economy".  That sounds like the same thing to me.  The translation is that Bill Gross knows that this economy is a ponzi scheme and will end like all other ponzi-schemes!  Furthermore, the article Mike posted said that Gross was selling Treasuries.  I can't blame him!

Quote
Where are these morons now????

My guess is they've all opened GUN SHOPS!!!!  They now spend their days selling AMMO and weapons to the same dopes that purchased 4 PRE-CONSTRUCTION FLORIDA CONDOS over the PHONE (because if they didn't SOMEONE ELSE would grab them)

If they did, then their judgment has definitely improved.  To this day, gun shops are packed with customers and ammo/reloading supplies are in very short supply (in fact, often NO SUPPLY).

Quote
As long as there is an endless supply of income (tax revenue), the problems will continue to be pushed forward by mortgaging our problems to future taxpayers by printing more money and selling our debt to other countries.

I agree, but there isn't an endless supply of income (tax revenue) and we can no longer sell enough debt to other countries or anyone else to pay the bill.  That's what the article Mike posted was talking about.  With the inability to sell enough treasuries, the government has resorted to printing money and buying it themselves.  It is like a person that is overdrawn on their checking account writing another check to cover it (and to buy a new car to boot)!  Did I mention that it's a SCAM?


 
Title: Re: The End is Near ...Sell everything and build a cave
Post by: phlemboy on January 17, 2010, 04:18:33 pm
As long as there are taxpayers, there is an income stream. Just like a PONZI scheme needs more  new investors, the govt. needs and will always have the taxpayers. That's how I see it anyway..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 18, 2010, 10:51:54 am
Quote
If the government would make me the same deal, I'd be a billionaire in a year.

Quote
And Bill Gross also said that he recommended partnering up with the govt

Couple good tools:

XLF….UYG

-Mike
http://www.youtube.com/watch?v=LiAtlT7Ba6c&feature=related
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 18, 2010, 12:25:20 pm
C'mon, his exact words were "our Ponzi-style economy".  That sounds like the same thing to me.  The translation is that Bill Gross knows that this economy is a ponzi scheme and will end like all other ponzi-schemes!

Amazing you can read Bill Gross's mind..Do me a favor Mike find out what he is doing next so I can get in before him..This article was also written a YEAR ago and had ZERO impact on the bond and equity markets other than helping them to SOAR...Pimco bond funds are up %70 YTD on average as are the equity markets..So you think that Bill Gross thought that was a Ponzi scheme his company was investing in..LOL..Dream up another doomsday scenario..Go to that nitwit on infowars and maybe he can give you some ideas...LOL

What it really is is THEFT FROM THE MIDDLE CLASS!   The heads of these banks and many government officials should be in jail, or better yet, hanging from a lamp post in Times Square to send a message to other people who commit these CRIMES.  How many retirements have this scum destroyed?  


These things are inevitable..You should be angry at Barney Frank and Chuck Schumer for making the banking regulations so loose..And isnt it fair to say that the middle class used their homes as ATM machines for many years and were irresponsible with the money and deserve what they had to coming to them..I dont hear you complaining about all the RE newbies that YOU instructed to go the no money down route and they simply walked away when the going got too rough..I dont hear you blaming yourself at all..Yet you want to blame it on Wall street... I havent heard you go off on one of the many mortgage brokers we have here..Instead you waste everyones time with BS from idiotic websites that prey on morons with half a brain who frequent their sites to spew the same BS...Insult someone else's intelligence..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 18, 2010, 01:03:30 pm
Quote
Amazing you can read Bill Gross's mind..

I'm not reading his mind...I'm reading his WORDS!  He said "our ponzi-style economy".   How do you interpret that?  Does "our ponzi-style economy" say to you that he's predicting a huge new boom?  C'mon Rookie, at least be honest with what he's said.  If you disagree with Bill Gross or me or anyone else, that's fine.  But, let's not pretend that he was saying something other than what he actually said.

Quote
This article was also written a YEAR ago and had ZERO impact on the bond and equity markets other than helping them to SOAR...Pimco bond funds are up %70 YTD on average as are the equity markets..

I doubt that this article had anything to do with the bond or equity markets going up.  What DID make the markets go up is that Bill Gross was right and the government has further perpetuated the biggest ponzi-scheme in history.  It's still going strong, as all ponzi-schemes do right up to the point that they collapse!

Quote
You should be angry at Barney Frank and Chuck Schumer for making the banking regulations so loose..And isnt it fair to say that the middle class used their homes as ATM machines for many years and were irresponsible with the money and deserve what they had to coming to them..

AGREED 100%!!!

Quote
I dont hear you complaining about all the RE newbies that YOU instructed to go the no money down route and they simply walked away when the going got too rough..I dont hear you blaming yourself at all..

I'm not aware of a single person that I "instructed" that walked away.  In fact, if they bought at a huge discount as I always advise, they should be doing just fine.  It's not how much money you put down, it's the amount you pay for the property compared to the rent.

Quote
I dont hear you blaming yourself at all..

What am I to blame for?  I didn't make wreckless investments.  I pay all my bills on time.  The government didn't have to bail me out, as they did the big Wall St. firms that are too big to fail. 

Quote
I havent heard you go off on one of the many mortgage brokers we have here..

Have any of the mortgage brokers on this site done anything wrong?  Who specifically do you want me to "go off on"?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 18, 2010, 01:29:36 pm
sure miss the quick thinking of Ross Perot...

too bad he brought out that VP pick....he almost had us sold.

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Bluemoon06 on January 18, 2010, 01:58:11 pm
The thing is that if the economy collapses to the point that we are Mad Max or something the only thing of value will not be your gold, stocks or even you real estate it will be your guns, and your ability to dominate your fellow man and take his stuff (water, food, and women).
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 18, 2010, 02:31:38 pm
Quote
Pimco bond funds are up %70 YTD on average as are the equity markets..

Always a good bull run somewhere:

http://www.masterdata.com/HelpFiles/ETF_List.htm

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 18, 2010, 03:02:02 pm
Mike,
 Truth is you are reciting an article that is 1 year old and you twisted the meaning of the article to fit your nutcase agenda...You quote articles from idiotic websites that stoner college kids read who think 9/11 was an inside job..Im suppose to believe that a guy like Bill Gross who manages $100 BILLION dollars feels he is investing in a PONZI SCHEME..Are you kidding or delusional or both?...This guy would make Madoff look like Bambi if he followed that path..So its you that is twisting the article to fit your fanatical views..You constantly take aim at Wall street and the Federal Government while you make your living off section 8 tenants which is funded by the same Federal Government that you despise so badly..Yet you willingly take that handout every month and what makes you any different than the big banks..IMO you are losing out because you are making pi$$ in comparison and you are dealing with the scum of the earth..You should be embarrassed that you even frequent that idiotic website infowars..Its very existence is disrespectful to the 3000 Americans who died in 9/11..So keep posting articles from that website so I can take what you say even less seriously than I already do..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 18, 2010, 04:16:17 pm
Quote
Truth is you are reciting an article that is 1 year old and you twisted the meaning of the article to fit your nutcase agenda

I don't know how I could be twisting the meaning of "our ponzi-style economy".  That seems pretty self-explanatory to me.

Quote
Im suppose to believe that a guy like Bill Gross who manages $100 BILLION dollars feels he is investing in a PONZI SCHEME..

YES!  I think he's doing EXACTLY what he said in the article, which is to partner with the government and go along for the ride.

Quote
This guy would make Madoff look like Bambi if he followed that path..

No, Gross isn't the one running the ponzi-scheme, the government is.  Furthermore, the article Mike (allagash) posted says that Gross is SELLING treasuries.

Quote
So its you that is twisting the article to fit your fanatical views..

Apparently my views are not fanatical at all.  In fact, I agree 100% with Bill Gross that we have a "ponzi-style economy"!!!  On the other hand, maybe he's a fanatic too.

Quote
Yet you willingly take that handout every month and what makes you any different than the big banks..

Actually, I don't take any handouts at all.  I provide a service to the government and get paid for it.  The Section 8 tenants ARE receiving a handout because they receive housing without working for it.  Likewise, the big banks are receiving handouts because they are receiving free money and then the government is paying them interest on that same money.  THEY AREN'T DOING ANYTHING TO EARN IT, it's just a handout!!!

Quote
You should be embarrassed that you even frequent that idiotic website infowars..Its very existence is disrespectful to the 3000 Americans who died in 9/11

I don't frequent "infowars" and don't know anything about it.  If that's where the link was to the article you requested that I find for you, that's because it was the first one that came up when I googled it.  You could have simply googled it yourself.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 18, 2010, 04:40:38 pm
Instead of Infowars as a straw-man, how about the man himself...

Investment Outlook
Bill Gross | January 2009
Andrew Mellon vs. Bailout Nation

http://74.125.47.132/search?q=cache:qu1Plb1bc7kJ:www.pimco.com/LeftNav/Featured%2BMarket%2BCommentary/IO/2009/IO%2BGross%2BJan%2B09%2BAndrew%2BMellon%2Bvs%2BBailout%2BNation.htm+bill+gross+ponzi+scheme&cd=6&hl=en&ct=clnk&gl=us

He makes very clear his opinion of Ponzi and how it applies...

"Now, with cash flow insufficient to meet current outflows, they are proving my point that we have met Mr. Ponzi and he is us – all of us: auto companies that siphoned sales dollars to make labor peace instead of research and design expenditures; hedge funds that preposterously billed investors for 2% and 20% of nothing; a President and politicians who thought they could fight a phony war for free and distract the nation’s attention from $40 trillion of future social security and health care liabilities. Ponzi, Ponzi, Ponzi. "

"For now, our Ponzi-style economy and its policy remedies encourage bond investors to mimic Uncle Sam and its global compatriots. Buy what they buy, but get there first. Andrew Mellon would surely have disapproved."
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 18, 2010, 04:53:02 pm
Now that Jack of all master of none has become involved in an issue where he has zero experience ..Your cut and pasting skills are second to none...Did you get my coffee yet?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 18, 2010, 05:07:21 pm
Why the personal attack?  How much experience does anyone need to be able to read what Bill Gross said?
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 18, 2010, 06:21:59 pm
RookieNYC,

"Now that Jack of all master of none has become involved in an issue where he has zero experience ..Your cut and pasting skills are second to none...Did you get my coffee yet?"

How juvenile...  guess the "jack of all master of none" did what you apparently couldn't do...  what, you don't get his newsletters oh master trader?...   :rolleyes    seems to me that since it said what Propertymanager said it said, and INFOWARS as well (not that I follow that website), that it would have been something you would have been familiar with since you follow him so religiously, oh master trader...

BTW, I got your coffee already... guess you missed it just like you missed the newsletter...  guess you really do need that coffee...   :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 18, 2010, 06:49:28 pm
Jack of all master of none,
  When you do something that constitutes financial success in life then speak..Otherwise I dont listen to failures who stumble onto a RE forum to stir sh*t..You can say what you want point being that article was written a year ago..That is the reason why I missed it..You see while you were waiting for your mommy to make your dinner I was AWAY relaxing in a part of mexico..So JOAMON (Jack of all master of none) dont waste your time trying to irritate me like you do to others all to well..You bring nothing of value to these forums other than your combative attitude and posts..I have yet to see a single post of yours that helps anyone to make money ...If you havent noticed this is a website where people go to  make money or learn how to..Oh yeah I forgot ,you go to so many other forums to spread your vast wealth of financial knowledge :bs

The article that we are debating over obviously wasn't viewed as negative by the greatest judge of it...The equity and bond markets..Which soared YTD if you havent noticed..It doesnt surprise me that Mike needs and enjoys having you as his only support in this entire debate..It just shows his desperation for support by having to be mano y mano with a sh*t stirrer such as yourself who has zero accomplishments in his life other than using his google search bar...And fwiw I'm an option strategist..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 18, 2010, 08:33:00 pm
RookieNYC,

"When you do something that constitutes financial success in life then speak.."

I don't have an inferiority complex like you, but let's have some fun... let's hear your definition of "financial success"... 

"Otherwise I dont listen to failures who stumble onto a RE forum to stir sh*t.."

Failure, huh?  And you are basing this on what data... common, you are a trader, what DATA do you have to back that up OTHER THAN WORDS, which as we can see flow out of your mouth like diarrhea but contain very little substance...

"You can say what you want point being that article was written a year ago..That is the reason why I missed it.."

Let's get this right... you follow Bill Gross religiously, and yet you missed HIS newsletter discussing this???  That website you tried to debase caught it, and you didn't???  LOL.... Maybe you have long-term memory issues...  What you missed, was that he ALSO talked about it before on different occasions... of course, you being "financially successful" and all SHOULD know this already without someone you define as NOT being "financially successful" having to take you by the hand and lead you to it... 

"You see while you were waiting for your mommy to make your dinner I was AWAY relaxing in a part of mexico..So JOAMON (Jack of all master of none) dont waste your time trying to irritate me like you do to others all to well.."

LOL... and you took time AWAY from your family "relaxing" getting irritated by someone you say is a JOAMON???  GREAT use of your time in MEXICO!!!!    :beer   Do even realize how ridiculous that sounds???  Yeah, what a GREAT vacation that must be for your family, watching you type away defending the indefensible...  GET SOME PERSPECTIVE Rookie...  a little of your "semi-vacationing", eh?  Can you start to imagine semi-retirement yet???  LOL...

"You bring nothing of value to these forums other than your combative attitude and posts.."

Looks like I just brought the newsletter from Bill Gross which PROVES you were WRONG... so while I can see how you would think something that proves you wrong would be of no value, believe me, oh great trader, it's of VALUE to others...    :biglaugh :lol

"I have yet to see a single post of yours that helps anyone to make money ...If you havent noticed this is a website where people go to  make money or learn how to..Oh yeah I forgot ,you go to so many other forums to spread your vast wealth of financial knowledge bs"

I have already said I am not a real estate expert, but Random Ramblings is not about that now is it... 

"The article that we are debating over obviously wasn't viewed as negative by the greatest judge of it...The equity and bond markets..Which soared YTD if you havent noticed.."

Now that wasn't your argument now was it...  YOU said Bill Gross wasn't saying what he INDEED said... keep trying to distract everyone from your obvious embarrassing flub...  I can't believe you didn't even do a quick Google search on it...  All you had to do is type Bill Gross Ponzi and it autofills the rest...  BTW, when it autofills, that means it a COMMON SEARCH item oh great master trader...

You could have also EASILY just gone to PIMCO's website....  www.pimco.com and used THEIR search engine and typed in "ponzi"...  LOL

"It doesnt surprise me that Mike needs and enjoys having you as his only support in this entire debate..It just shows his desperation for support by having to be mano y mano with a sh*t stirrer such as yourself who has zero accomplishments in his life other than using his google search bar...And fwiw I'm an option strategist.."

LOL.... you REALLY think that just because YOU say I haven't accomplished anything in life that makes it so???  LOL...  you are more arrogant than I thought...  Tell you what Rookie, why don't you tell me ALL that I've accomplished... otherwise, ANOTHER empty assertion.... 

And the sad thing is, no matter how much you try to belittle me, it shows how lame your assertions are as that means that you continue to "waste your time" on me while on VACATION with your family in MEXICO...  what does that say about you???!!!   :biglaugh :lol

You not only demonstrate your arrogance, but simple linear thinking in the process and your insecurity that you felt the need to even address any of this WHILE IN MEXICO...   :bs

Just curious, wouldn't it have been easier to just say - "Didn't catch that... thanks for the info"...

All I did was post BILL GROSS' own newsletter since you didn't like the infowars.com website...  think about it a little, Rookie...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 18, 2010, 08:52:40 pm
Jack of all master of none,
  I meant last year I was in Mexico when that article came out,boy wonder...

Oh and how is that cottage that has been taking you 2 years to rehab and realize that you can't cashflow it?...Anymore financial advice almighty one??...Anytime you are in or around NY you can IM and I would be glad to show what I do for a living in the real world..The internet is not my life unlike you..And yes I will continue to belittle you..You are a failure and everyone who reads your posts knows this..You have achieved nothing but a status of being an annoying failure on a site that has many successful people..When someone is more successful you downplay it,but you come across like you are so in the know..I can google anything and it will come up with something..Like I said all you know how to do is use your google search bar..Say what you want about this ridiculous article..Fact of the matter is while you were sitting in your failed BS cottage figuring a way to make $150 per month from it I was pulling down 7 digits in the REAL WORLD..Like I said anytime you are in NY IM me and I would be more than happy to show you what I do and how I do it...Infact I would even pay for your $2 a$$ to fly out here from anywhere in the US you are...You arent man enough to take me up on that offer because you cant hide behind your computer..When you grow a set of ball$ my offer stands..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 18, 2010, 09:15:51 pm
RookieNYC,

"  I meant last year I was in Mexico when that article came out,boy wonder..."

Yeah, that was clear...   :rolleyes

"Oh and how is that cottage that has been taking you 2 years to rehab and realize that you can't cashflow it?...Anymore financial advice almighty one??..."

LOL...  you don't even realize how tightly you are following a template...

"Anytime you are in or around NY you can IM and I would be glad to show what I do for a living in the real world.."

I'm sure it's real interesting...  

"The internet is not my life unlike you.."

My life??  Hardly... although I do enjoy it...  as do you apparently...

"And yes I will continue to belittle you.."

There's a surprise... think about what that means Rookie...

"You are a failure and everyone who reads your posts knows this..You have achieved nothing but a status of being an annoying failure on a site that has many successful people.."

So I take it you are not going to define for us "financial success"...   :bs

"When someone is more successful you downplay it,but you come across like you are so in the know.."

Actually no...  I have not downplayed your success...  but I do downplay that you know it all using simple search tools...  You show your arrogance in your responses and reluctance to admit you were WRONG...

"I can google anything and it will come up with something.."

And yet you didn't... and you didn't even use Pimco's website and their search tool even though you follow Bill Gross religiously...  wonder why... and then you belittle someone you don't even know when they point to the very thing you could have looked up yourself...

"Like I said all you know how to do is use your google search bar.."

No, I know how to use Pimco's also...   :beer

"Say what you want about this ridiculous article.."

Actually, it was Bill Gross' newsletter I referenced, not the article on it...  I wonder if you even read it??

"Fact of the matter is while you were sitting in your failed BS cottage figuring a way to make $150 per month from it I was pulling down 7 digits in the REAL WORLD.."

I wonder why you feel the need to say that???...  

"Like I said anytime you are in NY IM me and I would be more than happy to show you what I do and how I do it...Infact I would even pay for your $2 a$$ to fly out here from anywhere in the US you are..."

I might take advantage of that offer one day soon... If you truly are bringing home seven figures, I guess it would be arrogant of me not to accept, right?...  but I'm curious... what's in it for you??

"You arent man enough to take me up on that offer because you cant hide behind your computer..When you grow a set of ball$ my offer stands.."

Hiding behind my computer??  Hardly...  

It's quite obvious you draw your worth from money...  You know Rookie, there's an old saying,,,  money magnifies who you really are as a person...  Think about how much in this one post you rely on money to project your self-worth and use that image of yourself to ATTEMPT to belittle others...

Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 19, 2010, 06:27:53 am
but I'm curious... what's in it for you??

A few things actually...One..To make you realize who you are talking to and how far out of bounds you are questioning someone with my credibility..Two..To see how much sh*t you talk face to face because I bet you talk NONE...Three..That after I prove who I am and what I do is for real you shut your big useless mouth and leave this forum...Thats whats in it for me...This will be my last post on this subject so you are free to have to the last word and dissect my post..Have a nice day and I dont expect you will be taking me up on my offer...IM me anytime with your flight information..JFK or LGA will be just fine for me to pick you up..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 19, 2010, 08:51:39 am
I'd like to have the last word, which is that we should be able to discuss these topics without the personal attacks.  Throughout this entire thread, no one ever commented on the facts that I posted (multiple times).  Instead, there were continuous personal attacks and insults.  Everyone is entitled to their opinion, and I can see very little reason for calling people names and insulting them.  It seems to me that arguing an issue on the merits is much more valuable than simply throwing around insults.

Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 19, 2010, 11:25:51 am
Propertymanager,

"which is that we should be able to discuss these topics without the personal attacks."

I TOTALLY agree...  it just serves as a distration

"throughout this entire thread, no one ever commented on the facts that I posted (multiple times)."

That is because they don't have the answer...  why do you think the sideshow...



RookieNYC,

"A few things actually...One..To make you realize who you are talking to and how far out of bounds you are questioning someone with my credibility.."

I only question what's obvious to be questioned...  Your credibility stands on what you are writing and if you can back it up...  Money does not automatically give you credibility and if you base your value on money, you make statements like that...

"Two..To see how much sh*t you talk face to face because I bet you talk NONE..."

Here is where you are completely off base... I don't type what I can't back up...  it's a very unenviable position to be in as you can see... So face to face, that would not change...  Do you think you intimidate me somehow? 

"Three..That after I prove who I am and what I do is for real you shut your big useless mouth and leave this forum..."

The interesting thing here is that I have not questioned that you make 7 figures, that you are an investor, etc.  NONE of it... nor have I said anything to belittle it... YOU however, have insulted MULTIPLE investors on their investments...  For some reason, you feel the need to prove who you are to someone you have never met on an internet forum...

If you really want me to leave the forum, you made 7 figures, remember... Buy the owner off, give him $50K and then you can give me the boot...  put your money where your mouth is... otherwise all you want to do is silence someone you disagree with... hardly a far-right position, right? 

Tell you what...  ask the owner how much he wants, and whatever figure he gives you, I'll leave the site forever for half...   :beer   

"Thats whats in it for me...This will be my last post on this subject so you are free to have to the last word and dissect my post.."

I answer posts point-by-point... Just my style... IMHO, it makes things clearer...  Of course, you said this was "wasting your time", and STILL kept on posting, so we'll see...

"Have a nice day and I dont expect you will be taking me up on my offer...IM me anytime with your flight information..JFK or LGA will be just fine for me to pick you up.."

After reading your intentions, what's the point?  I thought it was a real offer to learn something firsthand that you felt I couldn't learn on this forum, which is why I said it would be arrogant of me not to take you up on it...  But it sounds like all you want to do is puff your chest out to say "see, I'm for real"...  to someone you've never met...  how insecure are you?

Let me help you...  I BELIEVE you that you are an investor, and as of now, I have no reason to question that you made 7 figures...  does that help soothe your sense of bravado???

If not, I'll TAKE you up on your offer... and after you've gotten it off your chest in person, I'll take my wife to a Broadway show, and you'll be out a couple hundred bucks to satisfy your need of self-importance...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 20, 2010, 12:59:02 pm
Here's how I determine who's full of [email protected] here and who isn't.....

I READ WHAT THEY POST!!

Rookie mentioned a few years ago that he was buying rental properties in NY State.....He did his research and was only buying properties he could steal......He had a management company handle the day to day stuff....and it was a simple business plan.

Everything went well....Minor issues, but nothing major.

As time went by....He...like all residential landlords....started having some issues....Nothing big, just the usual BS....He even mentioned in a few posts that he was getting tried of it compared to the money he was making on other ventures....

THAT'S HONESTY  Complete, 100%, NO BS, straight up HONESTY.

He could have told us things were going GREAT...Making all kinds of money.....Never been better....BUYING MORE!!!

He DIDN'T DO THAT.....He told us what was REALLY happening....

That's NOT always the case here. 

Rookie is the real deal......You may not like what he has to say sometimes, but you have to respect his honesty and his REAL WORLD experience....The guy puts his money on the table.  THOSE LESSONS are PRICELESS......They're not about THEORY.....They're about REALITY.
and when it comes to MONEY.....I'll take REALITY over THEORY any day!

And.......He has helped members here make REAL MONEY.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 20, 2010, 01:33:13 pm
Fdjake,

FWIW, can you show me where anyone has disputed what you just posted about RookieNYC (i.e. - that he's an investor, makes money, etc.)?  To my recollection there is none, but there is posts from RookieNYC belittling other investors...

Title: Re: The End is Near ...Sell everything and build a cave
Post by: fdjake on January 20, 2010, 02:25:41 pm
From POSITIVE.....to Rookie

"Your credibility stands on what you are writing and IF you can back it up."

You want to know IF he can back it up????? 

When OTHER members of this forum can attest to someones experience or knowledge......THAT'S REALITY....THAT'S BACKUP....and THAT is the world I care about.....NOT some BULLSH*T THEORY world about conservative politics, make believe businesses/investments,  or anything else.

You're entitled to your opinion of this guy....I have no problem with that...But there are people here with a LOT more investing experience than YOU, that know who's real here and who's PLAYING investor.

R E A L I T Y.........Things based on TRUTH, REAL WORLD EXPERIENCE and SUCCESS.

I'll take the guy's ACTUALLY GOING IT......All the GURU'S in the world don't add up to one honest person telling you the way it REALLY IS because they've DONE IT!!!!!!

I've said my piece on this topic....You all know where I stand on the subject. 

In the end....

IT'S AN  I N V E S T M E N T  F O R U M...I N V E S T I N G!!!!  Remember that????   You know....MAKING MONEY!!!!

You are on a REAL ESTATE INVESTMENT SITE.....Rookie is a self made MILLIONAIRE......He is currently FUNDING real estate purchases for OTHER INVESTORS with HIS MONEY......He thinks the USA is NOT about to COLLAPSE...... he see's BETTER TIMES ahead.  This is EXACTLY the kind of INFORMATION I want to READ HERE.......Not BULLSH*T about the "FOUNDING FATHERS" or ABORTION......I want to know what the economy in this country is LIKELY to do in the next few years.  His insight into that is WHY I COME BACK HERE.....

When you actually INVEST your own money you VALUE these insights....You derive VALUE from them....YOU PROFIT from PICKING THE RIGHT SIDE.....Some people are BUYING GUNS and CANNED GOODS but NO REAL ESTATE......OTHERS are FUNDING REAL ESTATE investments during a HISTORIC, NEVER BEFORE SEEN IN OUR LIFETIMES, REAL ESTATE BUST when funding for real estate is scarce.........GEE, I wonder WHO comes out on top here???? :rolleyes

Sometimes a little less MOUTH can go a LONG WAY for your WALLET!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: propertymanager on January 20, 2010, 03:37:56 pm
Quote
Some people are BUYING GUNS and CANNED GOODS but NO REAL ESTATE......OTHERS are FUNDING REAL ESTATE investments during a HISTORIC, NEVER BEFORE SEEN IN OUR LIFETIMES, REAL ESTATE BUST when funding for real estate is scarce

I've already got all the real estate I want, therefore I'm done buying real estate.  I don't have as much food as I might need, therefore I'm still buying food - which regardless of what happens - I'LL EAT!  Furthermore, all this talk about once in a lifetime real estate bust is nonsense.  There is a huge inventory of unsold property and record foreclosures are continuing.  This real estate bust will last for years (if not decades). 

Quote
.........GEE, I wonder WHO comes out on top here????

On top of what?  I didn't know that we were in some sort of competition.  I thought the idea of investing or running a business was to provide money for your family and to attain or maintain a certain lifestyle.  If we're competing, what is the competition about?  Most cash?  Most net worth?  Most free time?  Most expensive car?  Fewest holidays worked?  Most vacations?  I feel bad that no-one gave me a copy of the rule book, let alone telling me that we were playing a game!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: PositiveOutlook on January 20, 2010, 06:43:17 pm
Fdjake,

Thanks for the answer...

PO - "Your credibility stands on what you are writing and IF you can back it up."

You want to know IF he can back it up?????

When OTHER members of this forum can attest to someones experience or knowledge......THAT'S REALITY....THAT'S BACKUP....and THAT is the world I care about.....NOT some BULLSH*T THEORY world about conservative politics, make believe businesses/investments,  or anything else."


The IF in this case was what RookieNYC was trying to deflect... Bill Gross and his Ponzi-position...  go back and read it...  after pointing out that Bill Gross DID IN FACT say what Propertymanager said he said in HIS OWN NEWSLETTER, Rookie just kept at it... so that was what I referring to as with regards to credibility and backing it up, as RookieNYC HIMSELF said he followed Bill Gross religiously...

RookieNYC was writing that he wanted to pay for a ticket for me to go to NYC so he could present his evidence of credibility...  all that offer was, was a chance for him to puff out his chest and say "I am real"...  I NEVER questioned if he was real...  and THAT had nothing to do with investing, but bravado...

"When you actually INVEST your own money you VALUE these insights....You derive VALUE from them..."

Following your chain of logic, we should listen to Bill Gross over RookieNYC, right?  So, who do we believe on the Ponzi scenario?  Bill Gross or RookieNYC?  I mean, Bill Gross not only has MUCH MORE personally in than RookieNYC, but is managing OPM...  now, that is not a slam, but just a fact...

Look, RookieNYC was wrong about Bill Gross...  RookieNYC  SAID that if Bill Gross had said something like Propertymanager said he did, that IT WOULD HAVE BEEN NOTICED... well, Bill Gross HIMSELF not only said it, but wrote about it in HIS OWN newsletter...  Ponzi, Ponzi, Ponzi...  so, MONEY does not make you right, FACTS do...  does that change my opinion about RookieNYC being an investor?  Of course not...  but it does not also afford him infallibility or humbleness to admit a mistake...

"IT'S AN  I N V E S T M E N T  F O R U M...I N V E S T I N G!!!!  Remember that????   You know....MAKING MONEY!!!!"

Yes, and there are NINE other forums dedicated to exactly that...  TEN if you include Random Ramblings...  To me. the most time is wasted and more threads go off topic with the personal attacks...  Random Ramblings is a forum available so the other NINE don't get muddied with politics, abortion, Founding Fathers, etc...  and ALL participation is voluntary...  I know, I personally only read those threads that are of interest to me no matter which forum I am in...

"This is EXACTLY the kind of INFORMATION I want to READ HERE.......Not BULLSH*T about the "FOUNDING FATHERS" or ABORTION......I want to know what the economy in this country is LIKELY to do in the next few years.  His insight into that is WHY I COME BACK HERE....."

And YOU have ALL THE POWER over what you read... if you don't wan to read it... DON'T, but don't waste time complaining about it when you not only read it, but then take MORE TIME and post to it...  does that make any sense???

"Sometimes a little less MOUTH can go a LONG WAY for your WALLET!!!!"

And yet, if people just sat back and focused only on their own lives and incomes, HISTORY-MAKING events like last nights elections would not happen...  do you even realize what happened?  It's not all about the money... But in this case, the trouncing of a Democrat espousing Obama's line, just saved the taxpayer TRILLIONS... 


Fdjake,

Look, you have valuable insight on car stocks, flipping, storage units, etc...  but you are more than that, right?  The value in Random Ramblings, beyond not muddying up the other forums, is that it gives you insight to the other side of posters...

That said, I would recommend that if you don't like politics or whatever subject, don't frustrate yourself by reading it...  but don't then complain if you do... 

We ALL have the power to never listen to a particular poster even again if we choose to do so...   :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on January 26, 2012, 09:08:26 pm
2 years since this debate...And the end is not here,the financial system didnt implode (yet)..And people are still alive..And business in the Commercial collaterallized mortgages ,Real estate asset based lending
Distressed debt secured by real property: purchase debt at steep discounts are doing very well..

Even Bill Gross is at the very least calling for less than %3 returns and no end of the world scenarios. (not that he ever mentioned it to begin with)..He manages $300 Billion ...Do you think he comes out and calls the US economy a ponzi scheme...His words would rattle investors and cause a redemption nightmare..

And Mike propertymanager missed out on massive returns..Canned food and caves...The capitalists of the world send their regards Mike..Save some corn for me..




Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 30, 2012, 08:11:02 am
re: the end is near.....

way too much bib## thump'## bull$it for me...

got more serious stuff to do....like riding the recent VIX inverse:

http://stockcharts.com/h-sc/ui?s=XIV&p=D&st=2011-10-30&en=(today)&id=p51239235673

-Mike
http://www.youtube.com/watch?v=4SFdI2ejaGw
Title: Re: The End is Near ...Sell everything and build a cave
Post by: InvstrPaul on January 31, 2012, 03:32:20 am
2 years since this debate...And the end is not here

Famous last words.  It's 2012 haven't you checked your Mayan Calendar lately?  Come this December we are all doomed so start living it up.  DOOMED I say DOOOOOOOOOMED!!!!!
Title: Re: The End is Near ...Sell everything and build a cave
Post by: motivatedceo on January 31, 2012, 05:16:24 am
Yeah, looking back on old stuff lke this is kind of fun. It kind of explains why PropertyManager left.

He stated above ... "I've already got all the real estate I want, therefore I'm done buying real estate".

I am not surprised actually. If you read his book, he sounded like he was on the edge of burning out. He was WAY more of a negative thinker than a landlord should be, though it is full of 95% valuable information.

I guess he became a burned out landlord ... the same guy you read about in his book.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 03, 2012, 01:19:37 am
Quote
He was WAY more of a negative thinker than a landlord should be, though it is full of 95% valuable information.

I agree.....Mike put together a great book dealing with the realities of landlording.

That said.....I like Mike Butler's Landlording on Autopilot as a compliment to Propertymanager's more abrasive approach.

And wouldn't go anywhere without Michael McLean's Section 8 Bible.  Acutally....he has a Volume 1 & 2.

Three Mikes......Three great books on landlording.

-Mike<
Title: Re: The End is Near ...Sell everything and build a cave
Post by: mcprops on February 07, 2012, 06:07:46 am
Some of Rookie and FDjakes best work...

I wonder what happened to Mike.... I get the feeling he's now working at the local HD in the plumbing department or something.

Where has FDjake been? I hope he's just kicking back someplace warm.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 07, 2012, 08:01:30 pm
Quote
I wonder what happened to Mike.... I get the feeling he's now working at the local HD in the plumbing department or something.

Not a chance in  :evil you'd be finding him there.....

Mike was very shrewd....within a matter of a few years....he was up to about 50 rentals.

Met with him personally on 2 or 3 occassions.

Some of the stuff he spewed....didn't sit right with me....but I still have a ton of respect for him.

100 fold over the average joe....

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Hoosier4life2005 on February 08, 2012, 09:45:48 pm
Quote
I wonder what happened to Mike.... I get the feeling he's now working at the local HD in the plumbing department or something.

Not a chance in  :evil you'd be finding him there.....

Mike was very shrewd....within a matter of a few years....he was up to about 50 rentals.

Met with him personally on 2 or 3 occassions.

Some of the stuff he spewed....didn't sit right with me....but I still have a ton of respect for him.

100 fold over the average joe....

-Mike

Some of the stuff he spewed.. you talking some of the political things he used to say?  Good times.. good times  :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 09, 2012, 07:16:07 am
about the biggest takeaway I got from Mike is that a good deal of the time....you really do need to be an SOB.

it's either that or get steamrolled....

As my father used to say:

Quote
Don't be Mr. Nice Guy

-Mike
http://www.youtube.com/watch?v=4SFdI2ejaGw
Title: Re: The End is Near ...Sell everything and build a cave
Post by: mcprops on February 09, 2012, 06:36:04 pm



Quote

Not a chance in  :evil you'd be finding him there.....

Mike was very shrewd....within a matter of a few years....he was up to about 50 rentals.

Met with him personally on 2 or 3 occassions.


Interesting that you met him. At least there is some legitimacy to his claims. 50 units in 3 years is quite substantial for sure.

I just wonder with all the posting (here and other forums) he did, along with the politics, that he was able to manage all those properties properly. I mean, he seemed to be going of the deep end a little...I guess I could see it all come crashing down. I do hope I'm wrong.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: justin0419 on February 10, 2012, 12:16:11 am
If he had someone help him do some projects, it would be completely doable.  That was his job.  He didn't have to punch a clock anywhere.  I always wondered how much he really had because about all he said here was that he had dozens of properties. 
Speaking of being a SOB....  I settled a lawsuit today.  I had a guy's car impounded because he and his thieving gf stole our kitchen appliances and owed us some money.  It's amazing how he became motivated to pay us after the cops put his car on a rollback...  One down, three more to go.
A couple years ago, I crushed a guy's car who owed us money.  He got most of his crap out of the house after the eviction, but left a car behind.  All I had to do was cut out the gas tank and haul it to the scrap yard.  I really felt a lot better after the giant claw picked his car off my trailer and dumped it on it's side.
Yeah....you gotta be firm in this business.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 10, 2012, 08:54:50 am
Quote
I really felt a lot better after the giant claw picked his car off my trailer and dumped it on it's side.

 :biggrin

I’s just waitin’ fer dat sham of an employ rate print….sometin’ sub 8%....pre November….
Use me vix to ride her…..
http://en.wikipedia.org/wiki/VIX
Yappin’ on da moon:
http://www.youtube.com/watch?v=mbv-LcdLY-Y
-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: motivatedceo on February 10, 2012, 10:53:34 am
I disagree on that.

I am a super-motivated, Tony Robbins style guy. Just being in my presence will make your day more cheerful! LOL

HINCE THE NAME MOTIVATED CEO.

=)

I am nice to almost everyone, and treat everyone - rich or poor the same - with a decent amount of respect.

However...don't get the wrong idea. I am tough as nails and if anyone @#@#$'s with me I will hit them back twice as hard. That applies to whether it's a fist fight, when it comes to a rental property or if it deals with a business transaction.

Do not ever forget that you can have large cohones and still treat people very nicely.

That's one of the big things I don't like about Mike's book. He is a brilliant property manager, but his personality is too negative. He may not show it when he's with someone in person...but his thoughts are very well expressed in that book.
 
about the biggest takeaway I got from Mike is that a good deal of the time....you really do need to be an SOB.

it's either that or get steamrolled....

As my father used to say:

Quote
Don't be Mr. Nice Guy

-Mike
http://www.youtube.com/watch?v=4SFdI2ejaGw
Title: Re: The End is Near ...Sell everything and build a cave
Post by: justin0419 on February 10, 2012, 11:05:54 am
I try to be the same way.  I agree with you.  I'm nice to a point, but I go all out if someone messes with me or my family.  I send letters to both HUD offices here when someone screws us over on money from a rental.  My goal is to make sure they can't rent a cardboard box if they screw us over. 
Our reputation is such that we don't really advertise our vacancies anymore.  People around town know we rent pretty nice houses and fix things when they're broken.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 10, 2012, 11:29:18 am
ditto what you said....motivated...

guess you just understood me.

no biggee....too bizee....

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 10, 2012, 11:57:39 am
http://manscreed.com/wp-content/uploads/2011/12/christmas-lights-ditto.jpg

-Mike
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 23, 2012, 07:47:00 pm
getting back on track here.....you REALLY do need to be a SOB....in a nice way....

especially when in comes to PURCHASE PRICE....

Stick it to 'em!

-Mike
http://www.youtube.com/watch?v=syVWzezkoEw&feature=related
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on February 28, 2012, 01:41:53 pm
From what I remember Mike had very rough area rentals. He carried a gun constantly and had many instances.. And you say he had 50 units of that LOL....No thank you...You couldnt give that 50 units to me and all that comes with it.. Vandalism,evictions,dogs,water bills,repairs,delinquent payers,chasing people around,police,tax bills,phone calls,BS....

I credit him for him for investing in areas and markets that no one else will..
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on February 28, 2012, 04:18:05 pm
like I said about Mike in Ohio....100 fold over the average joe....

not 1000.....not 10,000......

but too much of a classic rental model for me.

good points rookie....

-Mike

Title: Re: The End is Near ...Sell everything and build a cave
Post by: VanDyne on March 30, 2012, 11:44:07 pm
The sky is falling, the sky is falling.

If you feel the country is going down then follow your beliefs and cash out. Well, I wouldn't then want cash so you better transfer that to gold and silver and make sure it's not kept in a bank because they'll close their doors and you won't be able to get it out so you better lock it in a safe in your house. ---- I hope this helps you.

And, if you believe this is a buyers market because they country is on a low then buy, buy, buy the guys assets who believe they need to cash out. You'll both win.

Everyone should be happy now.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on October 05, 2012, 08:37:10 pm
Quote
I’s just waitin’ fer dat sham of an employ rate print….sometin’ sub 8%....pre November….

http://www.reiclub.com/forums/index.php/topic,45480.msg254399.html#msg254399

headline today:

http://money.cnn.com/2012/10/05/news/economy/september-jobs-report/index.html?iid=HP_LN

as expected......clockwork propaganda......

and from zerohedge:

http://www.zerohedge.com/news/2012-10-05/strangest-number-todays-jobs-number

 :bs

carve out your own future!!!

 -Mike

Title: Re: The End is Near ...Sell everything and build a cave
Post by: justin0419 on October 05, 2012, 10:14:36 pm
Ok, so unemployment is back where it was in 2009.  Too bad 5 trillion has been added to the deficit in the process....
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Moses O on October 06, 2012, 04:08:42 am
With all the negativity my aim has been not to worry over things i do not have control over,taking a day at a time and off course watching out for who i listen to.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: breeanne on October 09, 2012, 06:42:30 am
Quite interesting Topic; I have learnt to be content in plenty and in luck. Living each day as it comes. counting
how much i need for today and waiting for the next day to come and pass. If i have for each day i thank God and look forward for the next day to come.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on December 20, 2013, 08:40:53 am
2014 is upon us. Stock markets are reaching new highs daily,many RE markets have bounced significantly off their lows. Capital isn't as easily available but if you can obtain it , its cheap. Even hard money is everywhere. World didn't end..

I hope everyone has a great Holiday & a Happy and Safe New Year,prosperous one also...
Title: Re: The End is Near ...Sell everything and build a cave
Post by: allagash on January 05, 2014, 01:30:17 pm
Happy New Year.....

-Mike
classy:
https://www.youtube.com/watch?v=_oVI0GW-Xd4
Title: Re: The End is Near ...Sell everything and build a cave
Post by: furnishedowner on January 07, 2014, 03:56:12 pm
It's nice to hear from RookieNYC again! I've been gone too.
Happy New Year Everyone.

Furnishedowner
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Randoskie on January 16, 2014, 12:42:55 pm
I seen a TV program years ago about these Australian modern cave dwellers. The carved out their houses in this soft rock. It was amazing how beautiful and cozy it was. Beautifully sculptured dome ceilings. They would coat the surface with something to seal it. Some had indoor pools and Spas and sylights. The inhabitants seemed to love it and said they could expand their living space when the need arises.

My Popular Mechanics magazines would sometimes feature alternative housing. Some were covered in soil and claimed to have a temperate climate inside needing minimal heating and cooling..
Most people I think would prefer a traditional style above ground dwelling including myself, but heck, living in a modern cave could be a great way to live, and not just survive.

Now I love watching that tree house show, these are not rikidy barn board junkers with a rope ladder but full blown gorgeous houses. I have also seen shows where people have made their homes out of missle silos and boats and airplanes, really creative.
So maybe if we do have an economy meltdown, we can all get back to nature, haha
Rando
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on September 05, 2014, 04:25:24 pm
I hope everyone is making size. Shaping up to a massive year for those who invested heavy during the supposed end of the world. The Real Deal is a magazine I follow for my career. Its astonishing how much capital is being put into RE/CRE now. Staggering , and I don't mean just in NYC, nationwide huge deals are getting done.

This was my argument from the beginning.
Title: Re: The End is Near ...Sell everything and build a cave
Post by: rookieNYC on April 09, 2016, 02:14:28 pm
Just dropping in to say hello to all my old friends. I hope everyone is healthy and making money .  :beer
Title: Re: The End is Near ...Sell everything and build a cave
Post by: Bill H on April 28, 2016, 11:53:39 pm
Best I ever saw for the end was a little store front religous organization had a big big writing  in the front window that said "Repent...Repent...Jesus is coming/"

And down  in the right hand corner someone had written , "and boy is he pissed."