AHHHHH YES!!!!!!!!JOHN WAYNE!!!
“I’m gonna STAY AND FIGHT!!!”
I prefer:
http://www.youtube.com/watch?v=Hvf8r3cX3vo
-Mike
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…
"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.
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!
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…
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…
or option #4:
http://funnyvideooftheday.blogspot.com/2006/03/chris-farley-van-down-by-river-skit.html
justin,
nice touch…
-Mike
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.”
well put.
in a word, it’s very…
COUNTERPRODUCTIVE
-Mike
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…
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 BULLSHT 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 BULLSHT 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!!!
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.
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!
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.
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…
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!
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).
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!!
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!
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
…and let’s all pray that you are right. If I’m right, things won’t be so pleasant.
both sides of the fence
long…
or short, (little or no leverage)
doesn’t matter to me.
-Mike
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…
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!
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…