All Forum Posts by: James Young

Sorry, I guess I could have been less cryptic.

Joshua

...and the commentary I have been observing really seams to be focused on #10 and #11 diversification and investing what you can afford. It would almost seem to me that what someone can afford equates to the ammount of risk one is willing to take.

...of the 12 solid rules at the begining of this thread...definately an interesting conversation.

Wow... :whistle1:

I have been following this post for a while and as a newbie I have been learning a lot...namely that Joshua Dorkin was right...

It is not my intention to start a 'Bash the Government' thred but to gather opinions.

The AP is reporting this weekend that on Monday the Fed. Govt. is releasing a plan to sell toxic assets to lure investors with discount prices and Govt. aid.

The plan as reported is three-fold.

1. to create an FDIC backed entity to purchase and hold bad loans.

2. to expand a Fed. Reserve facility to include "Legacy Assets" that is currently only set up to buy newly issued securities. (not exactly sure what a Legacy Asset is - sounds racey though)

3. to use public / private investment funds to purchase mortgage backed securities.

I am wondering what if any affect such a plan might have on the average invoestor. Namely should the FDIC purchase bad loans how will that affect the broader forclosure and REO market? and how would the governments holding of these loans affect the cost of aquiring said properties?

Again I am not looking to Government Bash I am just wondering what the Forum is thinking about the Federal Government's attempts to intervene in Housing / Mortgage / investments.

Hello Shannon,

I am also new to the site, and wanted to say welcome. I am finding this site to be a fantastic resorce with a wealth of information. I look forward to reading your posts as well.

Congrats! I am learning a lot from these posts. Thanks.

I am also a relative newbie but it seems to me that it would be wiser to drive a reasonable car and get the most house you can afford to for the money.

Thank you all for welcoming me to the site.

Mr. Dorkin I commend you for founding Bigger Pockets, it is a valuable resource and tool.

Mr Barnard and Mr Johnson, I am very glad to hear from both of you as your posts to the forums are some of those I hae been following with great interest.

Mr Barnard, it would seem that your area of interest (REO's and Short Sales) is also the area I would like to pursue as I feel in this market it has one of the greatest possabilities of reward. I look forward to our future correspondance.

Mr Johnson, I swear I've seen you driving around town (not in that little number you have on site but another car with plates that say "motiv8d" or something of the sort). I look forward to picking your brain and perhaps developing a profitable relationship in the future.

ofGift, Tuscon is nice I have family there but...I have family there...it's nice during the holidays you understand...

James Young

Hey at least its an even number...I like even numbers...the LARGER the number the better :D

My name is James Young. I have been following posts on the Bigger Pockets forums for a little while and found the input to be quite informing. I am looking forward to joining the discussions.

I am a relatively new investor. I have just purchased my first home (a foreclosure in the Phoenix suburbs) that I intend to work on over the next few years and sell for a profit once the market has turned.

My Grandfather retired on his realestate holdings and frankly I've caught the bug but my investment strategy is a little different than his was. I would like to focus on Short Sales in this market but have little to invest at the moment (as my funds are tied up in the above mentioned home). I am hoping that I will be able to develop a strategy that will hurry additional seed money along.

I have the time, I have the desire and motivation to succeed. What I am looking for is good advice as I develop a strong plan and exit strategies to move forward.

I invite any other REI's in the Phoenix area to contact me. I look forward to sharing thoughts and ideas with you.

James A Young
[EMAIL REMOVED]