All Forum Posts by: Brent M.

I keep about half of my reserves in gold and silver. Extremely liquid and zero counterparty risk. It’s hard to know how many banks have derivatives that will hit them just like 2008.  

Over 18 months worth in cash/cash equivalents.   I remember the last recession well.  I think this one will be worse.

bump

Don’t confuse a higher cap rate with a higher return...

I too believe a recession is on the horizon, if for no other reason than everybody appears to be bullish with no great threats on the horizon. I vividly recall sentiment in 1999 and 2006. This matches. The bay area has always been cyclical as well, a glance over the last 30 years shows significant drops but always higher highs. I’m currently a multifamily buyer but see very little that meets my underwriting standards. Sellers are putting out pro forma’s with 3% vacancy allowances and other such nonsense. That will not be a constant going forward. However, If you can find the right deal that works for you today and won’t have you overleveraged, buying in the bay area now is not a bad idea at all, come what may.

Wait till their pensions start failing....

Please get that guy to break down his grocery bill. How he claims he eats vs what he spends is unbelievable. Everything else, totally feasible.

This is exactly why I only invest in “red” states. Not trying to be political, but the states mentioned generally seem to think stealing from a a property owner or breach of contract don’t count when you’re a tenant. I still recall one particular judge telling my tenant in court, “ you signed something you didn’t understand dear, it happens to a lot of people.” She then ruled against me and returned the tenant’s full deposit despite full documentation of damages and lease violations. It sickens me.

I’ve used debt collectors on skips and evictions, 30% is the agreement unless it goes to trial, then it’s 50%. Wage garnishment is the only way I’ve found to get paid. I’ve done it five times. One account paid off (guy kept trying to settle for a discount post-judgement...nope!) one gal had no income so the co didn’t pursue in court. The third declared BK once the garnishment began. I’ve got two others in process now..

I’ve been in this position from an investigative standpoint. With 2-3 suspects and a definite time the crime occurred questioning works great (got 20k in jewelry returned). With the the numbers you have involved over two months... I’d want you to give me names and DOBs. I’d see if anyone was on probation or parole, maybe check criminal history and go from there. Not gonna get too in the weeds with so many possibilities (including a possible false accusation). As far as trust, you trust you guys to do a great job, but how many of them can walk by $5000 if they think they can get away with it?