In another sign that the “recovery” was nothing more than a Ponzi Scheme, today’s unemployment report noted that 125,000 non-farm jobs were lost in June. However, there was some “good news” - the unemployment rate dropped to 9.5% Because ANOTHER 652,000 people were so discouraged that they stopped looking for work!!! BTW, May factory orders were down 1.4% also. And housing is dropping off a cliff (after the expiration of the government housing handouts).
http://www.marketwatch.com/story/modest-private-job-hiring-in-june-2010-07-02
It’s in MY BANK ACCOUNT!!!
And now a big CHUNK is also in John_from_NC’s too…
But you’d actually have to be BUYING & SELLING REAL ESTATE to particpate in it…
Maybe that’s WHY you’re having such a hard time FINDING IT…YOU’RE NOT DOING THAT!!! :beer
But you'd actually have to be BUYING & SELLING REAL ESTATE to particpate in it...
That’s not even close to being accurate. You do NOT have to flip houses to be successful. Flipping real estate is just one of an infinite number of ways to make money and one of a large number of ways to make money with real estate. Having said that, your flipping of houses has absolutely nothing to do with the 125,000 jobs lost in May; the cratering of the housing market; the 652,000 people who quit looking for work in May; the decline in May factory orders, or any other economic news.
However, since were already off-topic, I’m curious about your Ford play. Ford is already off about 40% from the high and is close to breaking $10. Are you going to ride your Ford stock all the way back down? Are you buying F at $10? Selling?
I guess all those CONTRACTORS that thank me after every PROJECT would be better quailfied to answer your RECOVERY QUESTION Mike…But I can tell you from dealing with them on a WEEKLY BASIS…That THEY have NO DOUBT that THEIR economic situation has VASTLY IMPROVED since 2008…EVERY ONE of them has work NOW and they’re all BACK LOGGED.
As far as my Ford stock??? I guess you ASKED the question because your unsure after you SOLD all your Ford stock at $3 and change!!!
This is a VERY SIMPLE INVESTMENT…
I will NOT sell my shares in Ford during this phase of their turnaround…Ford has paid down $10 BILLION in debt in the last YEAR and a HALF, They made $100 MILLION last QUARTER (WITHOUT cash for clunkers or a DIME in Goverment bailouts)…2010 will be a profitable year for the company…and Their PRODUCT CYCLE is just about to hit it’s STRIDE…At some point in the next few years the DIVIDEND will be brought back (The Ford family wants that done as soon as economically possible)
and then WATCH what happens to this stock…Do what you do best…WATCH!!! I’ve done this before buddy…This movie has already been made…Do you think it’s just LUCK that I identified FORD as an investment over ALL other car companies and FORD was the ONLY ONE that survived WITHOUT Goverment assistance. What you don;t know about me and my experiences could fill 30 of your low income rental paper back books.
You also might want to talk to JOHN_in_NC…He’s actually LEAVING the very business YOUR currently IN!!! Or…You can do what your doing NOW…N O T H I N G…I mean BESIDES waiting for the COLLAPSE!!!
The only problem with that is… JOHN will, in all likelyhood, be a MILLIONAIRE…IN CASH…Before YOU open a single can of your END OF THE WORLD BEAN SUPPLY!!!
But hey…I see a lot of 70 year old landlords who never took a shot at anything BIGGER…they drive to my SELF STORAGE WAREHOUSES to pick up their supply of USED TOILETS every few months!!! I’ve got a nice 10"x10" unit available Mike…PERFECT of some old TOILETS, SINKS, FRIGS and all the other crap you need in that BUSINESS…But I’m SURE your business is COMPLETELY different! :bs
I love this stuff…Whatever you do…DO NOT buy and sell any PROPERTY during a HISTORIC real estate collapse…DO NOT do what John_in_NC did by buying a COMMERCIAL PROPERTY for $190,000 and selling it a few months later for $400,000…DO NOT DO THIS!!! YOU COULD MAKE MONEY and start seeing the WORLD in a different light…This could lead to HAPPINESS, LAUGHTER, a sense of PEACE.
And worst of all???
You might take a look in your BASEMENT, at the 6 month supply of canned BEANS, start LAUGHING HYSTERICALLY, fall down the stairs and get REALLY hurt!
Stick with going NOTHING…It’s MUCH SAFER!!!
FDJake - thanks for the response without the personal attacks (I’m deleting all posts with personal attacks). I also appreciate your response on the Ford Stock. I was curious as to your strategy. At what point in the future would you actually sell it and lock in a profit. Are you shooting for a dollar number or will you simply just hold it until you retire?
I would also like to thank you for the offer of a storage unit, but I already have one. I do have refrigerators and stoves in the storage unit along with a BUNCH of toilet tank lids, but I don’t have any toilets. I haven’t found the need to replace the entire toilet very often.
.....I see a lot of 70 year old landlords who never took a shot at anything BIGGER......
Me too - and that’s exactly what I plan to be. I enjoy the rental property business and have absolutely no plans to get into larger commercial projects or to buy more rentals. In fact, if anything, I might sell a few after they are all paid off if I get lazy in my old age (and the cash flow from the paid off rentals requires fewer rentals to maintain my lifestyle). Having said that, I’m very happy that John is succeeding with his commercial property and hope he succeeds in the commercial arena.
Hey…At least you got a plan Mike…That’s more than 90% of people have…
Do me a FAVOR will ya???
Every MONTH or so…JUST SO I KNOW YOU’RE REALLY HAPPY…Post something POSITIVE!!! Something that is going WELL.
Did you take a nice ride on your motorcycle on some great road???..Let us know.
I honestly would enjoy reading something like that. :beer
As far as an exit strategy on Ford…again…I try to keep it simple…As I’ve said…I’ve done this a few times in the past…Made money, but LEARNED what NOT to do…the first thing I learned was this…
NEVER, EVER sell a turn around situation at a car company BEFORE the economy is hitting on all cylinders…I’m not going to argue with you about WHERE we are on that road because it’s POINTLESS…I don’t know and you don’t know…We can both GUESS, but in the end that’s all it is…a GUESS…My MONEY says Americans will ALWAYS be AMERICANS…They will CONSUME…It’s in the DNA…There are TWO things AMERICANS dream of owning…HOMES and CARS…No Mike…YOU certainly would NOT be planning the way you are if you THOUGHT that HOUSING would not be STRONGER than it is NOW at some point in the FUTURE…That’s EXACTLY the play with FORD…The car business NOW is NOT firing on all cylinders…But the FLEET is AGING…at some point, the longer this weak recovery (or no recovery if that’s what you think) goes on the BIGGER the PENT UP DEMAND. This is a LONG HAUL investment…It’s a pendulum…The harder it swings in one direction equals the length of swing in the opposite…
PORSCHE…1991…$20/share…2001…$250/share
CHRYSLER…1992…$11/share…1999…$189/share
FORD…1980…$1.15/share…1999…$39/share (after 2 splits)
Unless Americans NO LONGER decide to DRIVE and drop their BIG MACKS and buy BICYCLES…Ford WILL be back…BIG TIME…
Mercury GONE
Volvo GONE
Land Rover GONE
Jaguar GONE
Aston Martin GONE
FORD and LINCOLN + HISTORIC Union concessions = A Ford motor that has NEVER existed in HISTORY…I’ve made my bet…I’ve seen this movie 3 times…I LOVE THE ENDING!!!