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..
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
If its going to be as bad as there claims they should be selling out and buying a one way ticket out of here!
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....
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..
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 MAnother 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 TOILETSNO SNOW SHOVELINGNO MAINTAINANCENO PROPERTY TAXESNO T E N A N T SNO BULLSH*TYOU set the TERMSYou'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!!!!
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,
I know many here dont value my opinion at all...