All Forum Posts by: Julius Chinn

Originally posted by @Steve Vaughan:

At least bold absolute posts invigorate emotion and discussion.  

What's worse to me is the vague feel-good yawner posts.  Do what feels right. It depends.  Do what fits your goals. Ugh.

Gotta stand for something or you'll fall for anything.  -Country Song

 You sure not Buzzard Egg...............hahahahahaha. Rocks dont look like that.

Warren has said on many numerous often occasions dont try to be him.

Becky Quick once asked the Oracle of Omaha whats his WHY?   He responded Why what, whos on first, its on 2nd, maybe on 3rd. He looked at Becky like she lost it.

One thing against RE.  Prices are so Darn high.    Can they go higher----Sure.

See the issue.

Roth.  Stocks are high to but so what.   If stocks crash 50% thats a good thing if you believe in Dollar cost averaging.

PS.  not hard to believe since you started young your ROTH will easily be worth millions by the time you are old.

Buying RE today i cannot say the same.  

Any thoughts?  Sold 4 contracts expire next week.   EZ $104 or not?

I dont mind owning the stock,  will write covered calls if assigned.

Sometimes mistakes are made. I had a property which was being used as a long term rental being reclassified as a str.  Rates are vastly different. I just showed city my yearly leases and they adjusted me back down.

Other times rates just go up............lol.  See if your county rates were raised.

In todays world BE is about right.

For some strange reason Palms Places is better than BE.  Im going to open my DEC  statement soon. 

On the other end MGM isnt BE at the moment.

I expect Vegas to fully recover.  Remember  Covid is not a Vegas specific issue. All convention towns are being Smashed to bits.   Waikiki is a shadow of what it was pre -covid.

EZ as pie.  Should have done this earlier.  I can bring Cash Flow playing Mr Erics game down to under 100.

REnt   1,750-10% fee=  1,575.

Mortg. 240,000  @3.5%  1,173

Prop Tax                          130

Ins.                                    50

Vacancy                             175

           ---------------------------------------

expe.                        1,528

1,575 -1,528   is scary if you want cash flow........hahahahaha.

Note this is not real life ananlysis.  I kept expenses to Eric level.

If you made me Guess what this property cash flow is id say MINUS at least 300,  maybe 275 if you tell tenants dont actually use the plumbing, appliances,and dont walk too much around.  Less wear and tear that way.

......

I think majority would agree with YOU.  Dont sell yourselves short people..  BEELIVE!

A and B class the numbers are close to whats pro forma-ed.

C numbers are more standard deviated. Made the term up- variance may be better.  Kind of like poker Variance.

D Class . forget  numbers.  If you expect 30%.  minus30% is not unheard of.......lol.

So we have 2 self proclaimed  experts saying Rentals in Vegas have very little expense..........lol.

You believe it or NOT?

PS : Has anyone ever seen an anfrier  Angry Bird type. One who has made millions.   I dont get it.

Im not backing down till Casey Powers tells me too.

Since 2017 cash flow is not a Vegas thing.  Roll the DICE kind of market.  Seven out Housing Prices down- i have no clue when or if it will ever happen.

The topic is cash flow.

PS Yes i do wish i bought that Sahara Condo. Too bad for me.