Ford stock…THROUGH THE ROOF!!!
I’m on my 5th property since January 1 2010…3 already sold…2 just purchased.
All my commercial properties are fully leased…
Self storage warehouses at 99% capacity.
If THIS is what “the END” looks like…I don’t ever want it to…ah,…END!!!
AND…ROOKIE is ALSO having his BEST YEAR EVER!!!
Gee…Who should I listen to??? Should I be buying CANNED FOOD and BULLETS…or should I KEEP BUYING PROPERTY during the BIGGEST REAL ESTATE SALE in HISTORY???
Well I don’t want to contradict anyone on here, I have tons of respect for Mike as well as you Pete. But i’m stuck in upstate NY all day so i’ll post something I just watch happen, money I missed out on because I didn’t have the guts (and I was just gonna rent this dump) I thought flipping was nuts back in OCT!
I had the opportunity to buy this duplex. I was the First person to look at it and I would have offered more. It was an REO listed for 58K Needed about 15K of work MAX. I have done more for less, but I do most myself. Flipper paid 57.5K back in Oct. Took him a lot longer than it would have took me to fix it up. Sold a few weeks ago, 132,500. I don’t even want to know the exact amount he made, I KNEW it was a great deal and I passed out of fear. Look at the tax value for it!
I think what we all tend to lose sight of is the fact that people CAN make money in these times…I think I fall in the middle of fdjake and Mikes opinion…I honestly could care less if we go up or down in the economy and in my opinion,at the same time I want to make money on deals in the interim…Mike obviously reads alot as we all do but there is a seat for every a$$ when you look and google for news…One day one billionaire is buying up bargains,next day another billionaire is calling for chaos and looting etc in the future.We spend too much time bickering over BS,like do you care if the unemployment rate is x%???..We are looking for pockets of oppurtunity…Does anyone really feel if things were so rosey in the world we would have the opps we do infront of us?..I know for sure that things are NOT going to get rosey anytime soon but I COULD CARE LESS…It means nothing to me…If the economy tanks further and stock markets go with it,guess what…ITS TIME TO MAKE MORE $$$$$…Im unsure if some use this forum as an outlet for their political views or if they want to learn different methods to make money…I have always leaned right and not ashamed to admit that and I do feel we are in for tough time but I think this constant emphasis/battle/bickering is not conducive to anything positive on this forum…I think these political/news battles undermine the talent that exists amongst those involved…Including myself.
Should I be buying CANNED FOOD and BULLETS....or should I KEEP BUYING PROPERTY during the BIGGEST REAL ESTATE SALE in HISTORY????
YES! Yes, you should have a reserve of food, water, and ammo…and yes, you should continue doing exactly what you are doing to make money.
I KNEW it was a great deal and I passed out of fear.
Fear of what?
Im unsure if some use this forum as an outlet for their political views or if they want to learn different methods to make money...
I think both are VERY IMPORTANT and in fact, intertwined. For example, today researchers at Harvard announced that gas would need to be $7 per gallon to meet The Chosen One’s cap and trade targets. Will that affect your business or mine? Yes! If The Chosen One is able to shove cap and trade down our throats, we need to know how that is going to affect us and how to adapt to be able to continue to profit. Will it so damage our country or our businesses (or our very freedom) that we should fight to prevent it?
Mike…
The “Chosen One” and a LOT of other SITTING POLITICIANS ain’t gonna be around in a few years!
I hope you’re right FDJake! However, don’t underestimate the power of evil.
Yep…They elected that DOPE BUSH twice…Maybe I SHOULD be worried. :beer
I agree - Bush did irreparable damage to the US!
I think both are VERY IMPORTANT and in fact, intertwined. For example, today researchers at Harvard announced that gas would need to be $7 per gallon to meet The Chosen One’s cap and trade targets. Will that affect your business or mine? Yes! If The Chosen One is able to shove cap and trade down our throats, we need to know how that is going to affect us and how to adapt to be able to continue to profit. Will it so damage our country or our businesses (or our very freedom) that we should fight to prevent it?
…I mean lets be for real…$7 a gallon gas hurts everyone…Irregardless what business you are in…And does it hurt a guy like me anymore than the average person…No.
Mike should I take your latest jab at me personal or not?..
There is no latest jab at you - personal or otherwise.
I keep marching on toward my goals.I’m finished with one rehab in two weeks time,done with another in three weeks.I do keep a close eye on this threat to capitalism administration.I am waiting on November just as most of america is to speak as loud as I ever have.
America really has to hurt to hold govt accountable,otherwise they are wrapped up in their usual entertainment BS.I study what the govt is doing like a hawk and we all should since we all here are in the capitalist business.But don’t let it distract your goals one bit.These idiots who have never ran anything have waaaaaay overstayed their welcome.I’m with FD,the best is yet to come my friends.
Just as soon as govt gets outta the way,the good times will be back in full force.And we will are ready :smile
And here’s the CLINCHER…
The more people that DO what BAMA is, the BETTER things will get!!!
He’s not sitting in a BUNKER eating CANNED FOOD and reloading bullets waiting for a COLLAPSE.
He’s OUT there…Doing deals…Taking INVENTORY off the market, improving neighborhoods 1 or 2 houses at a time!
He’s also CREATING WEALTH for HIMSELF!!!
THAT’S what gets us out of this…Not sitting in a BUNKER and RELOADING!
The politicians in office now are DONE…GONE…FINISHED…IMHO.
When KENNEDY’s seat went to a REPUBLICAN…IN MASSACHUSETTS???
The writing is on the wall folks!!!
More childish insults FDJake? I’m not surprised. You certainly seem awfully angry for someone who claims to be making so much money. Maybe you need to take a few days off from your “stress free” flipping job and get a little relaxation. I think the stress is starting to get to you.
Let me try to say it again, no-one is suggesting that anyone sit on the sidelines. No-one is suggesting building a bunker. I don’t know how I could say it more plainly than that.
Let me try to explain how the rental business works. I bought rentals over the past several years. I rent them out to tenants who live in them. Each month, the tenants pay me rent and part of that rent goes to pay down the mortgage. So, I gain equity each month thanks simply by using the tenants money to pay the rent. Now, IF you’re right and we’re in for the mother of all booms, then I’ll be fabulously rich as all my houses appreciate to the moon! If you’re not right and the economy just bottoms out, then I’ll keep living off the cash flow (and my pay for doing the management and maintenance) and will get the equity as the mortgages are paid off. If I am right and the economy completely collapses and the dollar is worthless, I don’t know what will happen in this or any other business (and I don’t think anyone else knows either). I think that there will be great suffering all around. I wouldn’t even bet that you’ll keep your job as a firefighter, unless you’re willing to work for free - much less be able to flip any properties during a collapse. At any rate, I’m hardly on the sidelines. In fact, I’ll be working today - collecting rents!
We’ll see who’s right on the economy - I’m betting ME! It would be nice if we could discuss these issues without all your childish insults, but I guess that you’re just not up to that. Probably exactly why you were banned before.
You know, I really wish everybody here would stop bickering back and forth. Quit taking everything so personal, everybody.
I’ve been lurking here for years and have great respect for all of you. Everyday I look forward to the great advice given so freely on this board. For any of you to get banned would be a (my) great loss. Thicken up that skin and don’t nobody go getting themselves banned.
Attack the idea or opinion, but not the holder of same.
COMMENT DELETED BY FDJAKE as a result of a land mark peace agreement!!!
:beer :beer :beer :beer
In a high inflationary environment, you must own hard assets. Real estate is one and that’s why I’m learning about them.
I’m also betting that the govt will try to inflate their way out of this depression and not solve the issue.
A car feels fastest right before the engine blows! :razz
Just an update on my current deals.I finished a house within 3weeks,put it on the market last friday.My wife’s the realtor,she had all the realtors over for a lunch showing this friday(yesterday).Today (saturday) it’s been shown 4 times and she’s expecting multiple offers monday from two of them.
I should be done with another one in three weeks,beautiful house on a lake.Should fly off the market at the price I’m able to list it at.I too beleive we have a unique window here to make some $$.Just as always though don’t expect it to be neverending.I just buy right,add every bell/whistle I can then price atleast 10% lower than the competition.
I do hope this helps or motivates any of you.The ride is’nt over until you say it’s over,but be wise and careful.But keep moving.Best luck (and don’t forget to throw the bums out in November!) :cool
Very nice sellnbama! Good job man.
Can you put in some numbers after you sell the house (like what you bought it for, what you sold it for, cost of rehab)?
Hoosier,
Sure thing bro.I’ll also post before/after on facebook soon.Take care. :beer