The Fed vs China being the largest purchaser of US currency is irrelevant Mike…The point is that China and Soros are simply hedging their portfolios…And yes I have to agree and I wouldnt put it past the wiley old SOB to use the press to start a headfake while his traders were buying…We use reverse trading desks on block purchases,as do all large hedge funds…Its a common practice but what isnt a common practice is to use the press the way Soros does…In the end its a money game and he is good at what he does…And fwiw I meant to say largest foreign buyer of US currency because you brought up China…The Fed will continue his transparency for good reason…The motives are obvious…
As for working 12-16 hours vs 10 hours…I commend you for dealing with the tenants BS and stress as well as you do…I couldnt handle it through property managers (not that those lowlifes are any better)…I found an angle to make 10x the money with %99 less stress…So I took the ball and ran with it…Yes you are right that it takes massive amounts of capital but like you said where are we putting that money in todays economy…Im as diversified as one can possibly be but cashflow/landlording isnt my cup of tea…Id use that 40 caliber on the tenants if I had to do your job,or on myself…After reading how stressed John in NC is I feel I made the right choice…
I meant to mention in my previous post that not only is it pretty evident that the Fed is the largest buyer of treasuries, but I also believe that the Fed is (and has been) directly manipulating the stock market (and I freely admit that I don’t have one bit of evidence - YET).
Mike,
You are %100 correct and your evidence is the low interest rates…Greenspan created a bubble for a long time and now Bernanke is doing the same…But at the same time and this is where you and I disagree…Why not ride the wave rather than fight it…There are so many ways to make money from these times…Thats what these big hedge funds,banks,sovereign wealth funds do…They get out in front of the pack and buy…
The owners SON IN LAW called me…He’s up here on business saw my advertising and laid out this scenario…
His father inlaw has owned this house for 25 years and owes NOTHING on it… His LOSER son is living on the second floor…Hasn’t paid rent in a year, AND now has his FRIENDS living RENT FREE in the remaining apartments…The house is in a WAR ZONE…Gangs, drugs, you name it.
This guy just threw in the towel…He’s getting billed $5000/year in TAXES on a property that generates NOTHING…I sent him a sales agreement all drawn up right down to Florida (where he lives)…I contacted the idiot son and told him he could take $1500 CASH and get him and his friends out, or be evicted…
He took the $1500.
I know a LOT of investors in that area actively looking for these homes…They SECTION 8 the entire building and deal with the MORONS…One Phone call and it was GONE!!!
This is NOT typical, even for up here…But I MARKET to these people.
This is WHY I’ve said OVER and OVER here…I DO NOT BUY PROPERTY FROM REALTORS…It’s like trying to get a GREAT DEAL on a car at a CAR DEALERSHIP…You SCORE the deals from the OWNERS…Not from the people that SELL homes for a LIVING!!!
Notice I didn't quote the prices from 2004 to 2007....Those years were the SPRING STRETCHING YEARS
a central economically planned, (housing), boom period…
this type of garbage manipulation needs to be ENDED.
definately destroying our country.
I see gynecologist Ron Paul as a modern day Ross Perot…a true patriot wanting to do what’s best for America…unlike Obama who is much more self-serving.
I’m ALL for capitalizing on whatever current conditions dictate…the stark reality is that you have to be…
But…aside from that…we really do need a leader who’s not been bought…
Think about it…who better to lead our future than someone who actually has delivered future generations…
I guess that is what has made him what he is…
definately a humble public servant that has my respect.