History has a funny way of playing TRICKS on people…Humans by NATURE look for PATTERNS, they expect EVERYTHING that has happened to RE-OCCUR the same way…In reality that NEVER happens…EXAMPLES???
The FIRST Iraq war…Remember that??? It was gonna be our next VIET NAM!!! I remember all the EXPERTS drawing the similarites…How’d that turn out??? What was it?? 2 weeks long??
AFGHANISTAN was gonna be the same as IRAQ…In and OUT…instead we have a 10 YEAR OLD WAR there now with NO SIGN of an end.
Now it’s the 1930’s here in 2010 according to some…I find that interesting on so many levels…First off…It’s SIMPLE…AMERICANS LOVE SIMPLE…Want to fix IRAN??? HIT WITH NUKES!!! SIMPLE!!
This same theory now brings us…It’s 1930 all over again!! I LOVE IT! :flush
I put this up here because my new PROJECT is to COUNTER each and every NEGATIVE post I see from PROPERTYMANAGER with something of VALUE!!!
I’m having my single BEST year in business EVER!!! And I’m not alone!!
It AIN’T all DOOM and GLOOM Folks…There’s people out there making GIANT PILES OF MONEY RIGHT NOW!!! :beer
But those people are actually BUYING REAL ESTATE!!!
fdjake,
Thanks for posting! Yes, we need positive posts. And I’m afraid propertymanager is going off the deep end with his paranoia rants. Life is pretty good here where I’m at.
ATTITUDE makes the difference between immobolized terror and productive action.
I put this up here because my new PROJECT is to COUNTER each and every NEGATIVE post I see from PROPERTYMANAGER with something of VALUE!!!
That’s GREAT! I look forward to seeing your positive view of the world! As for the article you posted, unfortunately this guy is either out of touch or intentionally trying to mislead the reader. For example, the government has changed the way it reports unemployment since the great depression. The REAL unemployment is about 22% RIGHT NOW! Here’s an article:
GDP is now rising and we expect unemployment has peaked.
That’s RIDICULOUS. Even the Obama administration doesn’t believe that unemployment has peaked. The ONLY reason that it dropped this last week was that ANOTHER 652,000 people were so discouraged that they stopped looking for work. If these discouraged workers ever start looking for work again, the unemployment rate will rise for that reason alone.
The Federal Reserve, which was less than two decades old at the time, made huge mistakes, and allowed the money supply to decline by a third between 1929 and 1933.
The money supply is currently contracting at an accelerating rate that now matches the levels of the great depression.
At the same time, President Herbert Hoover increased the top marginal income tax rate from 25% to 63% in 1932 – a more than 50% reduction in the incentive to work and invest.
Exactly what Osama is doing, except taxes aren’t going up only through the income tax. He’s also taxing unearned income, energy, getting a tan, oil companies (ordinary citizens), banks (ordinary citizens) etc, etc, etc. There are no end to the Osama taxes.
I think the point is TRUTH! This is not about debating - it’s about the truth. The guy quoted in the blog post you quoted is WRONG on the facts. Facts don’t depend on a viewpoint.
Here are some FACTS you never seem to mention…
The FACT is employment in EVERY sector is UP compared to the MASSIVE layoffs seen in January of 2009 when 700,000 were losing jobs every month!!!
Car sales are UP from a low of 8,000,000 in 2008 to over 10,000,000 in 2010.
My subs ALL have back logged work NOW compared to NO WORK in 2008.
BANKS are lending again, compare this to 2008 when BanKs wouldn’t make loans OVER NIGHT to each other.
you can spin this anyway you want and statistics can be spun like tops…But here’s the bottom line…
EVERYONE agrees that INFLATION and HIGHER interest rates are in our future. By NOT GROWING your business at the exact time you have low interest rates and UNLIMITED supplies of UNDER PRICED homes owned by desperate sellers…YOU are setting yourself up for a LOWER standard of living in the future…THAT is a FACT…As rates climb, and inflation takes MORE of that monthly income, you’ll look back at this time and realize you left PILES of money on the table…Of coarse you’ll never ADMIT that, but it’s OBVIOUS to anyone here with more EXPERIENCE than you…
After all Mike. you’ve only been doing this fora bit over 7 years…So in essence, you’ve never OWNED income property at a point in time like this…My guess is that is why you aren’t REALLY putting some PADDING in your bank account when it’s as easy as picking up money off the floor…
Again, I’ll point to John in NC…He just put $200,000 in his bank account in 3 months for basically PAINTING a building!!! And with you working ONLY 4 hours per week???
It just doesn’t ADD UP?
When you get a little more TIME ON THE JOB you’ll learn to TRUELY appreciate these small WINDOWS of opportunity and not turn your nose up at them…Because the FACT is…They DO NOT come around very often.
The FACT is employment in EVERY sector is UP compared to the MASSIVE layoffs seen in January of 2009 when 700,000 were losing jobs every month!!!
Yes, as I’ve said many times before, the government spent TRILLIONS to dollars to buy the mini-recovery and yet the REAL unemployment rate is about 22% - very close to depression levels and that doesn’t even count the TENS OF MILLIONS of lazy deadbeats in this country who are too lazy to work (40 million are on food stamps alone).
Car sales are UP from a low of 8,000,000 in 2008 to over 10,000,000 in 2010.
Down from 16,000,000 units in 2007!!! OUCH!
BANKS are lending again, compare this to 2008 when BanKs wouldn't make loans OVER NIGHT to each other.
Yes, banks are lending to each other again - thanks to the TRILLIONS of DOLLARS they’ve stolen from the taxpayer. The Fed has been creating money out of thin air and loaning it to the big banks at near zero interest. Then, the big banks lend that same money to the treasury (taxpayer) at 3%!!! It’s theft - plain and simple.
EVERYONE agrees that INFLATION and HIGHER interest rates are in our future.
I think that we could easily have big time DEFLATION first - but no-one really knows.
By NOT GROWING your business at the exact time you have low interest rates and UNLIMITED supplies of UNDER PRICED homes owned by desperate sellers.....YOU are setting yourself up for a LOWER standard of living in the future......THAT is a FACT....As rates climb, and inflation takes MORE of that monthly income, you'll look back at this time and realize you left PILES of money on the table......Of coarse you'll never ADMIT that, but it's OBVIOUS to anyone here with more EXPERIENCE than you...
I am not growing my business because I HAVE EXCEEDED MY GOAL - the very same goal that I published many times right here on REIClub. I wrote a business plan 7 years ago and I am following it. I don’t want to grow bigger. I don’t want to join the rat race. I certainly don’t want to work a 9-5. If you want to do so - that’s fine with me, but my entire purpose in running this business was that I don’t have to do that. Do you have a goal that you will someday reach FDJake? Will you ever be able to quit your day job? Will you ever be able to stop flipping houses? If so, what is your goal and when do you anticipate reaching it?
And with you working ONLY 4 hours per week????
I typically work 12-16 hours a week. I have never said that I only work 4 hours per week - you just made that up.
You started out well with your idea to provide your own “positive” articles. Unfortunately, nearly all the information in the article you posted was factually wrong. Do you have anything else of a factual nature?
It AIN'T all DOOM and GLOOM Folks....There's people out there making GIANT PILES OF MONEY RIGHT NOW!!!
I’m in the process of putting in a new order of “I will buy your house from you to take that worry out of your hands, and I’ll make some money off of it” business cards. It’s amazing how fast you go through them. :biggrin
I can’t thank you enough, fdjake, for all your great tips on making money in many of your posts. You have certainly helped me out a lot, man.