All Forum Posts by: Ken M.

Nate , ur very rude, disorganized and sloppy. I'm not name calling, im just simply stating the facts. No one wants to climb your Mt. Everest ( i watched your YT videos) with you because there is nothing charming at all about your character. You could be the most intelligent person in real estate to ever walk the earth ( not the case), but your delivery is in shambles, that's perhaps why you only have 300 (Pace has 330k if you're keeping score) subscribers on your YT channel ( need i ask how many have spent 99 dollars to join the Guru?)

It's ironic ( not to be confused with Iconic) that you bring up the AG. Pace had the State of Arizona District Attorney ( they are very close friends) and head of the Real Estate Fraud division in Phoenix, AZ on a Zoom call to talk about real estate crimes , for an hour and a half. Pace didn't get arrested, or leave in handcuffs. You are clearly misinformed and disgruntled ( I mean who even refers to investors as being in a terrorist organization, you mad bro?)

As far as being new here, im really not here...per se. I was doing a Google search related to Gator lending, and this thread came up from BP, and all I saw was the bashing of Pace and his community. I'm so glad to be with the positivity over there and not in this toxic pool of doubt and negativity. Good luck Mr. Guru in all your endeavors...shave, change your shirt once in a while ( YT videos) and smile. It may do wonders for your "Reindeer" program.

Your comment "Pace had the State of Arizona District Attorney ( they are very close friends) and head of the Real Estate Fraud division in Phoenix, AZ"

Do you mean the California District attorney from Riverside county? That one is available on youtube but it goes back a few years.

0 Votes

Baton Rouge, Louisiana

Quote from @Melissa Lindsey:

The loss is that we had not taken into account the realtor fee.

On another note-according to the realtor, there is a downed tree on the property that we were unaware of aren’t sure if it was already there or if it happened after we got it under contract. The realtor also mentioned that the buyer is planning to have it removed himself. So I don’t think they’re expecting us to fix it.

How could you not notice a tree was down? Not knowing the situation better nor the paperwork you used, I can't really tell you if you would be sued walking away. If you "sold" the property and are not a real estate agent, you may get an unpleasant surprise.

0 Votes

Dallas, Texas

Quote from @V.G Jason:

Quote from @Ken M.:

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Quote from @James Hamling:

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@Steve K. I liquidated my entire crypto portfolio in January and I have 0-regrets, and 0-intentions of jumping back in any time soon, if ever.

You should watch the Big Short to understand that the 2008 real estate crash was based on a big fraudulent scam called MDS and CDOs.

But the government backstopped the loses, for the banks ;-) The biggest scam is real estate property taxes. Under the current system you can never really own your real estate even if it's paid off.

Ok, I see you're not really able to understand the logic. I'll go step by step here. It'll be like Bob Stevens "appreciation" trap.

1) I assume you mean MBS not MDS. MBS has been around the late 1970s & are still around. Why hasn't there been more crashes?

Yep, I mean MBS. Thanks for the correction. But, you failed to mention the fraud and the CDOs. Investors **assume** that bulk loans that are originated by "legitimate" banks, which institutional investors buy from, have been properly underwritten and insured. That is what they are told. That is what they think they're buying. Properly underwritten, low risk loans.

If the secondary market marks "B" paper, as "A" paper and Say, S&P grades them as "A" paper and AIG insures those tranches, you have total deception and fraud.

When banks lend a lot of money to people with no income and no verifiable way of repaying, yet mark it as "A" paper, you get CDOs and then synthetic CDOs on top of that, before long you have a product as speculative as BitCoin. (BitCoin, Which is backed by nothing. No hard asset, no insurance and no taxation.) And in lending, payments started getting missed. In 2008, that was on a grand scale. At least there was a 10 cent on the dollar hard asset in property.

I originated a bunch of those loans when I was first starting out as a loan officer for a mortgage broker in the late 1990's bailing people out of foreclosure. (WAMAU, Option One, First Option, OCWEN) and made a ton of money. Commissions were very, very high. We took the borrower's missed payments (arrears) of tens of thousands of dollars, from their existing loan of 8% and put them into a refinance at 14%. Well, my cohorts did, I simply showed the borrower the numbers and they'd freak out. So, I bought the foreclosing properties subject to, brought the loans current, gave the sellers their equity, rehabbed as a rental or flipped it. I made my first million doing those.

But, the point is, if a guy falls behind on his 8% loan, how is he going to make a payment at 14% ? I can do simple math, it rarely worked out. :-)

That problem doesn't really exist today.

And Bitcoin has to go through that same kind of cycle for people to realize the smoke and mirrors the blockchain money world is. There is nothing behind it. Except greed and hope.

0 Votes

Denver, Colorado

Quote from @Daniel O'Connor:

I find deals and structure them as long-term seller financing options using private lender money. I have the buyer side contracts figured out, but would like to see an example of how I would make a contract for a private lender to see possibly a visual aid so he can see how his assets are safe with me. Using property as collateral.

Well, generally you would have a loan application, note and a mortgage or deed of trust depending on the state. You won't be lending on owner occupied unless you want to do a lot of paperwork and take more risk. Personally, I wouldn't claim things are "safe". That is a different level of risk for each person.

You can go onto a county website and download a deed of trust or mortgage because they get recorded. I for sure, for sure, for sure would have an attorney draw up the paperwork the first time and maybe use that as a template for each lender, just changing the names, addresses and amounts, etc. I don't know any attorneys that will represent you in court on a document you draw up yourself. You have to learn which paperwork to record and when. Of course you will need assignment, notice of default, notice of foreclosure paperwork, loan modification and forbearance paperwork.

You need to know to get a title report and how to appropriately value property and do the underwriting. Someone has to take responsibility for escrowing the taxes and insurance and making those payments. You have to know how to run an amortization program and give periodic reports.

There is more, but that's enough to get you started.

0 Votes

Quote from @V.G Jason:

Quote from @Ken M.:

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Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @James Hamling:

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Quote from @Ken M.:

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@Steve K. I liquidated my entire crypto portfolio in January and I have 0-regrets, and 0-intentions of jumping back in any time soon, if ever.

It was always a speculative investment, investing on sentiment and a trend. Not once did I ever consider or view it as anything of any intrinsic or utilitarian value. Not once ever.

I was in crypto for years, flipping and trading. Again, gleefully out. And profitably too.

I consider myself rather informed on it. Nowhere near the 1% because honestly there all cult members high on hopeum and drunk on the kool-aid.

When I am paying for groceries and fuel with crypto, maybe. Until then, it's a shiny toy that's getting kinda old. No thanks.

The new shiny toy is ai.

Just bought my daughter-in-law a car strictly with bitcoin. This is with one of the most prestigious dealerships in Texas. And got her son a full sports outfit with crypto from a professional NBA franchise(same owners for the dealership & franchise).

People can disbelieve Bitcoin, etc., bottom line is emerging markets are usually correlated with higher population growth and desperate needs for infrastructure. With that comes a ray of hope for attaching to assets; bitcoin right now is the only tangible medium for that. Other forms of assets come with such steeper barrier entries coupled with devaluation of their current currency, it's very hard to resist this proof. Won't go deep and long in this, as I am not a fanatic but absolutely see the use case for it against currency. The US should view it as a threat to the dollar(and rightfully so), but to do that you need to get in front of it and not ban/eliminate it. It seems Trump's cabinet views it similarly in today's world.

apologies niece not daughter in law....getting old.

In just the last 5 days BTC has ranged in value from a high of $94,380.26 too a low of $81,157.32.

BTC is the very definition of volatile.

No business can humanly exist selling say a loaf of bread on Monday at one value, and come Friday when they go to reorder items to produce more bread, 10% of the sale $ they took in has evaporated into thin air.

And that's just in 5 days. Real moves.

The only reason 85% of people were on the BTC and crypto "train" was because it was going UP in value. Just like NFT's. Just like Tulips had long before.

Now it's rhetoric and assorted other hype to keep the hopeium alive. Because all who have leveraged into it know the fade is running out of runway.

As people get tired of it, don't see parabolic growth and profits, the shine is wearing off and people will sell and move on to what is current, shiny and with prospects of parabolic growth and profits ie ai.

As people sell BTC value goes down. Because it's value is based on NOTHING, literally. It's based on people holding and buying it.

So as it flatlines as it is, sentiment of it coming down grows as it is, selling takes hold and as it sells value drops reinforcing the downward movement and decisions to sell. And a downward spiral begins.

AMC & GME was little different. People chasing rainbows of massive profits. Than bag holders holding out on hopeium. But as time passes more and more wake up to the reality that the rainbows are long gone and 100% annual returns are fantasy but 50% losses are real.

It's the Gold Rush mentality. or better said, a Pump-n-dump. BTC and crypto is just one with some longer track to it than others given the criminal utility of it all. Great if your an international arms smuggler, not so great for a 50-something Jane/John Doe.

It was fun while it lasted, I'm over it now and onto playing ai. Selling Put's, taking leaps, selling calls, making $ 4-ways on market movements.

And continuing to do Real Estate, good-ole-reliable.

Why waste time on a literal gamble of BTC when it's at bizonkers high prices?

It's called buy low n sell high, not buy high and pray for inhuman additional astronomical highs.

Government promised...... Yeah well they been promising me peace on earth, clean water, clear skies, low tax's and all the other oh-so-good for long as I can remember.

Words hype and hopes.

I operate on facts, math and certainty.

That's very appropriate vol for BTC; VTI and QQQ were 3.5-4% negative in 5d and range quite strong too. Comparatively, that vol for BTC is quite normal. We've seen way bigger vol swings for BTC so not sure that's the point I'd make against it.

BTC vol will tighten once there's more adoption. That's proven given the fact we had significantly more drawdowns and significantly more often when less were invested. Just to give you a vol comparison in the last 10 years Nvidia has had 2 50% drawdowns. There's risk to everything. Given 10 years ago BTC was a fraction of what it's worth now percentage based draw downs are a bit misled given absolute value differential.

BTC adoption has gone institutional, prior it was emerging markets and little retail. It's hard to call it pump & dump now.

BTC's biggest argument is it's a threat to the USD, and a savior for emerging markets. For that reason, BTC will continue to yield up to the right but also correct more harshly than any other asset class. Like I said in a previous post, this correction and perhaps recession that will take place will be quite devastating for BTC, but long-term BTC holders or maximalists will yield the most advantageous.

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Oops.

"Recent and significant crypto hacks include the Bybit exchange hack on February 21, 2025, where nearly $1.5 billion worth of ether (ETH) was stolen, and a North Korean hack in March 2025 that stole $1.5 billion in cryptocurrency, making it the largest crypto hack on record according to the FBI.65

North Korean hackers have been increasingly active in the crypto space, stealing approximately $660.5 million across 20 incidents in 2023 and $1.34 billion across 47 incidents in 2024, marking a 102.88% rise in value stolen."

I was waiting for this type of response.

Show me you don't understand anything at all any more clear, Ken.

Bybit didn't hack "Ethereum". They hacked SAFE Wallet. Bybit was too cheap to purchase extra security (measures)--left UI systems as is & not enhanced. So again, it's user error and storage.

In laymen terms, this is like a scammer sending you a text to log in to confirm your AMEX details. You do, and they get access to steal funds. No other security measures. Did your USD get hacked? Or did AMEX get hacked? And are you the vulnerability or is USD?

Unfortunately, retorts like yours show that compete lack of knowledge & understanding.

This is what is coined "SPIN".

Look it's simple.

For long crypto sold itself as SAFE, secure, even claiming for many years to be SAFER than current in use systems.

Crypto even slogan'd on anonymity.

If you have $ at a bank, and bank calls saying "sorry half your moneys gone, it was stolen" do you care HOW the thieves stole it? Does it matter HOW it was done? No, what matters is you thought it was safe, it was stolen, so now your sense of safety and security is GONE.

How NOT safe is crypto? I can sum it up in 1 word: WILLOW....

Every masters degree/ Phd level data scientist and computer engineer I know has exited crypto since the confirmation with WILLOW. ALL OF THEM, 100%.

For those who don't know or understand, WILLOW is the breakthrough in computing that is taking ai effectively from the era of the horse & buggy straight to nuclear propulsion.

And that analogy is even far too weak a comparison. It's more like from caveman too spaceman. Yeah, it's THAT big a leap.

So take an ai capable of running every cryptographic permutation in existence, in an hour. It can solve mathematical problems that would take conventional super computers billions upon billions of years, and do it in seconds.

Effectively, there is no such thing as data security anymore. All codes, all that jazz, DONE. All it requires is one with hardware access and the desire to implement it for such.

In other words, N.Korea, Iran, RU, etc etc etc.....

You will see crypto heists parabolically increase THIS YEAR, head my words, this is inevitable.

1) Bybit hack had nothing to do with QC. 100% to do with security. There's no spin here, if you're saying I am spinning it in a different like point #2 then sure but I never did that. Nor did I ever subscribe to it.
2) Don't care what crypto "slogan'd" itself for. I just take it for what it is. Again, I don't parrot and form my own thesis. If someone thought they'd be anonymous, they needed to verify that then engage in illegal trades because someone told them it was anonymous. You'd trust your drug dealer to tell you how to operate? Give me a break.
3) Willow is google's QC chip. Go get long GOOGL or long quantum ETFs. It is not inversely related to BTC and Blockchain's health. FYI there's more of a threat to Willow than there is to Nvidia Blackwell on the horizon-- not advice just a note.

Willow is a weak, kind of amateur answer to why BTC will fail. As this has been a material sight on the horizon-- notice I said sight not obstacle--for some time as well as some other QCs. Willow is also nowhere near a threat to cryptography; Google will admit that.

Anyone at the institutional level has underwrote this risk and has not found it tangible. Anyone at the institutional level that's against BTC has bet on this and realized it's a quite a way from any recognition or realization. I don't know one that hasn't that we've conversed with, along with other Chinese chips like Zucho or distantly down Majorana among others.

For the people that actually are in the know with institutions that are heavily against BTC and heavily PRO the easiest way for me to summarize the threat of quantum computing is that it's way easier to develop resistant forks on the blockchain than to get QC scalable.

That's the general consensus among some of the real smart money pro & anti BTC. There's one reputationally aggressive fund, if not the most aggressive, that's tried to up the ante in QC to create this as they believe it's a threat to USD-- I know you don't-- that even admits it's a far larger reach than the solution for the blockchain fixing itself via latency, soft forks, etc.

You do realize if QC becomes scalable and defeats any fork attempt or latency attempt to a blockchain, then all digital security is at risk. A lazy answer for sure, but definitely a point to note. It means your communications, local bank, etc., all at risk.

Another thing is QC will penetrate re-used addresses-- meaning if you're doing isolated withdrawals or single address one's--way less at risk. But adoption/belief will mitigated if you see other compromises, for sure.

Another retribute against QC against blockchain is there's PQC(post quantum cryptography) & QSC(quantum-safe-cryptography) which is already advancing faster than QC and faster than your local massive banks at creating resistance to their own security. And what happens if more adoption appears at the BTC level? Then, you'll see increased efforts of penetrating it but also saving it.

Again-- IF, THEN.

You're missing the forest for the trees.

This is spinning out down a rabbit hole that all of about 7 people on BP will comprehend, lol.

Short version is; the vast majority of people have no comprehension of nor do they want to fully know or comprehend all of the details. They want there money to be safe, simple and easy.

They earn $___, it shows up in an account, they go buy ___, know the price, simple life.

When they hear of this hack, that heist, this exploit etc. it scares them plain n simple.

And crypto won't work if 90% of people fear the use of it.

BTC value is set by usership. Less users = less market value.

It's shine is already wearing off. Will diehards such as yourself keep in, sure, of course. But reality is at least 50% in BTC today are not the ilk of yourself. There novices at best, and most just blindly holding something because it's value held promise of making them $. Lot's of $.

Burst that perception bubble, and watch those masses of novice exit. As they are literally today. I in one of my BTC chat's just read countless persons say "WTF is all this $ going from people selling????".

Well, guess who IS green today? Remember what I wrote before? O, Realty Income Corp. They are UP today, as so much else is gushing red all over the market. F Ford was up now down 0.35% as COIN is down (OOF-DAH) 17%.......

I warned, I said you WILL see this happen and happen very soon. I didn't expect it the next day, lol, but I did call it. I even called where some of the $ would go, which is exactly what it's doing.

Maybe you missed it, but I put it in bold again.

"Another thing is QC will penetrate re-used addresses-- meaning if you're doing isolated withdrawals or single address one's--way less at risk. But adoption/belief will mitigated if you see other compromises, for sure."

It will scare some folks, but it's not the end of the journey for BTC. Just like SBF/FTX scared tons of folks, it still came back. FWIW, I got into BTC as an allocation after Mt Gox. That did not scare me, it's actually where I started to educate myself. And actually where some of the largest investors came in, too. Little history will show some of the largest institutional players(as individuals not on the behalf of institutions) jumped in also in mid 2014-early 2015.

There's no missing the forest for the trees here-- we believe the same outcome for most assets(in the short term). We'll continue to disagree on the (long term) outcome of Bitcoin and that's fine. We see it in a binary fold; you see the headwinds as the reason it goes to 0, I see the headwinds as opportunities to buy. Time will tell.

I also said I am not a diehard or maximalist, I just believe the mechanism has a lot of rumors and little facts circulating around it. Like anonymity, and other ********.

But to go back to the how & why part-- it's leverage. It's not people selling BTC to buy Ford or O.

The entire market has/had too much of expectations and engaged in too much leverage. @Chris Seveney and I have been saying this for along time and even joked about whose more cynical/pessimistic about it. In that other locked thread, @Henry Clark and I were saying there'll be a massive drawdown on equities.

They're not selling BTC to buy Ford, they're selling BTC because they are overleveraged & expectations are missing because everything is pricing for perfection.

And I mean everything is pricing for perfection;
Houses are priced to date the rate, marry the house like some folks spew. That changed the valuation and folks are compromised with their monthly payment. Some are underwater with even higher rates when agents told them to wait till 2025. Good luck. There's little liquidity here so it's usually the last fall.

Equities were priced for perfect earnings, any beat but not significantly higher is a net negative. We're seeing that reckoning begin now.

Crypto stormed 40-80% higher post trump presidency based off the premise of a pro-crypto president with little tangible strategy on how and what it'll be to get there. They bought the talk, not the walk. Unfortunately, they bought a giant share of that gain with leverage.

They're not selling BTC to buy Ford or O. Such a ridiculous take, they are selling BTC cause they are overleveraged. Just like they're selling mega cap and tech. Too much expectations and too much leverage.

And like I said before, go identify where the leverage is. The most right now is BTC, it does not mean it's dead when it gets pounded. It just means it'll get pounded.

"Any leverage in any market is going to radically flip on it's head. Identify where that is, and you found the opportunity.

In America, it's almost every market. So all NAV in every field will take a circumstantial hit."

Burned by Crypto, Built by Real Estate: My Journey from Rock Bottom to 10+ Deals/Year

https://www.biggerpockets.com/forums/55/topics/1234436-burne...

"Then the crypto crash hit, and we lost 90% of our funds."

You're just proving my point about buying what falls due to overlevegage.

Late 2022, I bought more. They sold and realized a large loss.

Identify the leverage, and buy the fall. You're just exposing folks who are **** at understanding it and one's who've made a career in it.

Go check where BTC traded late 2022 and it's current price. BTC, like other assets, need to be held for some term. Go check returns from late 2022 vs RE, not to say this will also be the trend but since you are asking for it. Take a look.

This is also my point James, yes folks like this guy panic sell and life is "ruined". You're not wrong about that, I just think the support bid & participants are not as weak as you suspect. 2022 was $12k expectations, $16k real, no institutions. Today I think it's high 30s with lots of institutions. No idea about nations.

Here's a trick question, Ken. Why did RE collapse in 08-09?

Is RE fraudulent or a scam?

You should watch the Big Short to understand that the 2008 real estate crash was based on a big fraudulent scam called MDS and CDOs.

But the government backstopped the loses, for the banks ;-) The biggest scam is real estate property taxes. Under the current system you can never really own your real estate even if it's paid off.

0 Votes

Denver, Colorado

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @Ken M.:

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @James Hamling:

@Steve K. I liquidated my entire crypto portfolio in January and I have 0-regrets, and 0-intentions of jumping back in any time soon, if ever.

It was always a speculative investment, investing on sentiment and a trend. Not once did I ever consider or view it as anything of any intrinsic or utilitarian value. Not once ever.

I was in crypto for years, flipping and trading. Again, gleefully out. And profitably too.

I consider myself rather informed on it. Nowhere near the 1% because honestly there all cult members high on hopeum and drunk on the kool-aid.

When I am paying for groceries and fuel with crypto, maybe. Until then, it's a shiny toy that's getting kinda old. No thanks.

The new shiny toy is ai.

apologies niece not daughter in law....getting old.

In just the last 5 days BTC has ranged in value from a high of $94,380.26 too a low of $81,157.32.

BTC is the very definition of volatile.

And that's just in 5 days. Real moves.

The only reason 85% of people were on the BTC and crypto "train" was because it was going UP in value. Just like NFT's. Just like Tulips had long before.

Now it's rhetoric and assorted other hype to keep the hopeium alive. Because all who have leveraged into it know the fade is running out of runway.

As people sell BTC value goes down. Because it's value is based on NOTHING, literally. It's based on people holding and buying it.

It was fun while it lasted, I'm over it now and onto playing ai. Selling Put's, taking leaps, selling calls, making $ 4-ways on market movements.

And continuing to do Real Estate, good-ole-reliable.

Why waste time on a literal gamble of BTC when it's at bizonkers high prices?

It's called buy low n sell high, not buy high and pray for inhuman additional astronomical highs.

Government promised...... Yeah well they been promising me peace on earth, clean water, clear skies, low tax's and all the other oh-so-good for long as I can remember.

Words hype and hopes.

I operate on facts, math and certainty.

BTC adoption has gone institutional, prior it was emerging markets and little retail. It's hard to call it pump & dump now.

.
Oops.

This is what is coined "SPIN".

Look it's simple.

For long crypto sold itself as SAFE, secure, even claiming for many years to be SAFER than current in use systems.

Crypto even slogan'd on anonymity.

How NOT safe is crypto? I can sum it up in 1 word: WILLOW....

Every masters degree/ Phd level data scientist and computer engineer I know has exited crypto since the confirmation with WILLOW. ALL OF THEM, 100%.

For those who don't know or understand, WILLOW is the breakthrough in computing that is taking ai effectively from the era of the horse & buggy straight to nuclear propulsion.

And that analogy is even far too weak a comparison. It's more like from caveman too spaceman. Yeah, it's THAT big a leap.

Effectively, there is no such thing as data security anymore. All codes, all that jazz, DONE. All it requires is one with hardware access and the desire to implement it for such.

In other words, N.Korea, Iran, RU, etc etc etc.....

You will see crypto heists parabolically increase THIS YEAR, head my words, this is inevitable.

Again-- IF, THEN.

You're missing the forest for the trees.

This is spinning out down a rabbit hole that all of about 7 people on BP will comprehend, lol.

Short version is; the vast majority of people have no comprehension of nor do they want to fully know or comprehend all of the details. They want there money to be safe, simple and easy.

They earn $___, it shows up in an account, they go buy ___, know the price, simple life.

When they hear of this hack, that heist, this exploit etc. it scares them plain n simple.

And crypto won't work if 90% of people fear the use of it.

BTC value is set by usership. Less users = less market value.

I warned, I said you WILL see this happen and happen very soon. I didn't expect it the next day, lol, but I did call it. I even called where some of the $ would go, which is exactly what it's doing.

In America, it's almost every market. So all NAV in every field will take a circumstantial hit."

Burned by Crypto, Built by Real Estate: My Journey from Rock Bottom to 10+ Deals/Year

https://www.biggerpockets.com/forums/55/topics/1234436-burne...

"Then the crypto crash hit, and we lost 90% of our funds."

0 Votes

Denver, Colorado

Quote from @V.G Jason:

Quote from @Ken M.:

Quote from @V.G Jason:

Quote from @Ken M.:

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @James Hamling:

@Steve K. I liquidated my entire crypto portfolio in January and I have 0-regrets, and 0-intentions of jumping back in any time soon, if ever.

It was always a speculative investment, investing on sentiment and a trend. Not once did I ever consider or view it as anything of any intrinsic or utilitarian value. Not once ever.

I was in crypto for years, flipping and trading. Again, gleefully out. And profitably too.

I consider myself rather informed on it. Nowhere near the 1% because honestly there all cult members high on hopeum and drunk on the kool-aid.

When I am paying for groceries and fuel with crypto, maybe. Until then, it's a shiny toy that's getting kinda old. No thanks.

The new shiny toy is ai.

apologies niece not daughter in law....getting old.

In just the last 5 days BTC has ranged in value from a high of $94,380.26 too a low of $81,157.32.

BTC is the very definition of volatile.

And that's just in 5 days. Real moves.

The only reason 85% of people were on the BTC and crypto "train" was because it was going UP in value. Just like NFT's. Just like Tulips had long before.

Now it's rhetoric and assorted other hype to keep the hopeium alive. Because all who have leveraged into it know the fade is running out of runway.

As people sell BTC value goes down. Because it's value is based on NOTHING, literally. It's based on people holding and buying it.

It was fun while it lasted, I'm over it now and onto playing ai. Selling Put's, taking leaps, selling calls, making $ 4-ways on market movements.

And continuing to do Real Estate, good-ole-reliable.

Why waste time on a literal gamble of BTC when it's at bizonkers high prices?

It's called buy low n sell high, not buy high and pray for inhuman additional astronomical highs.

Government promised...... Yeah well they been promising me peace on earth, clean water, clear skies, low tax's and all the other oh-so-good for long as I can remember.

Words hype and hopes.

I operate on facts, math and certainty.

BTC adoption has gone institutional, prior it was emerging markets and little retail. It's hard to call it pump & dump now.

.
Oops.

It doesn't matter who stole the money, it's stolen, gone, missing, kapupt. Interesting that you gloss over that.

Let's try this another way because you have reading comprehension issues.

No **** the money is gone. The question is why? User error & storage, like I've mentioned several times. If my AMEX got compromised is it the USD's fault?

Money is gone, explain that.

The answer is no, it's my fault and my lack/AMEX lack of security protocols. This isn't rocket science, I am sure you're capable of understanding this.

And before you harp on AMEX, given your lack of understanding this is globally an issue with all providers. Zelle, venmo, paypal more domestically, that money isn't coming back. So again, underlying question is my USD at fault? Or is it me and the provider at fault?

I guess you don't understand banking, but that's your problem, not mine.
if someone hacks my bank account and steals my money, the bank takes the loss, not me. The bank makes me whole. If not, the regulators shut them down.

If my crypto gets hacked, it doesn't matter who hacks it, it's gone. There is no one to make me whole and crypto won't be shut down. Totally different. There is no one to turn to if crypto goes bad. And it goes bad plenty.

0 Votes

Denver, Colorado

Quote from @V.G Jason:

Quote from @Ken M.:

Quote from @V.G Jason:

Quote from @James Hamling:

Quote from @V.G Jason:

Quote from @James Hamling:

@Steve K. I liquidated my entire crypto portfolio in January and I have 0-regrets, and 0-intentions of jumping back in any time soon, if ever.

It was always a speculative investment, investing on sentiment and a trend. Not once did I ever consider or view it as anything of any intrinsic or utilitarian value. Not once ever.

I was in crypto for years, flipping and trading. Again, gleefully out. And profitably too.

I consider myself rather informed on it. Nowhere near the 1% because honestly there all cult members high on hopeum and drunk on the kool-aid.

When I am paying for groceries and fuel with crypto, maybe. Until then, it's a shiny toy that's getting kinda old. No thanks.

The new shiny toy is ai.

apologies niece not daughter in law....getting old.

In just the last 5 days BTC has ranged in value from a high of $94,380.26 too a low of $81,157.32.

BTC is the very definition of volatile.

And that's just in 5 days. Real moves.

The only reason 85% of people were on the BTC and crypto "train" was because it was going UP in value. Just like NFT's. Just like Tulips had long before.

Now it's rhetoric and assorted other hype to keep the hopeium alive. Because all who have leveraged into it know the fade is running out of runway.

As people sell BTC value goes down. Because it's value is based on NOTHING, literally. It's based on people holding and buying it.

It was fun while it lasted, I'm over it now and onto playing ai. Selling Put's, taking leaps, selling calls, making $ 4-ways on market movements.

And continuing to do Real Estate, good-ole-reliable.

Why waste time on a literal gamble of BTC when it's at bizonkers high prices?

It's called buy low n sell high, not buy high and pray for inhuman additional astronomical highs.

Government promised...... Yeah well they been promising me peace on earth, clean water, clear skies, low tax's and all the other oh-so-good for long as I can remember.

Words hype and hopes.

I operate on facts, math and certainty.

BTC adoption has gone institutional, prior it was emerging markets and little retail. It's hard to call it pump & dump now.

.
Oops.

It doesn't matter who stole the money, it's stolen, gone, missing, kapupt. Interesting that you gloss over that.

0 Votes

Denver, Colorado

Quote from @Jerryll Noorden:

Quote from @Kieron Osullivan:

Quote from @Jerryll Noorden:

Try to change the way you think/approach success.

Said it before, will say it again.

A lot of people do this:

Hey… I have 3 wives, 4 girlfriends on the side, 5 dogs, 6 jobs, I can only devote $200 every 5 months, and I have only 2 hours/month available to work on my business… how do I become successful?

Instead, you need to realize that success (or the universe, for that matter) won’t bend backward for you.

Instead of asking how to become successful based on your limitations, you need to turn it around.

First, you need to determine what it takes to become successful!? Then, use what you have to get what it takes to become successful.

If success takes 12 hours a day, $3,000/month on marketing, a solid education, knowledge of marketing, and deal-making—then that is what it takes.

The reason most people struggle is exactly this.

Understand this.

You can’t target motivated sellers. It is absolutely impossible. The reason why? Because no one—and nothing—can predict when someone becomes motivated.

Circumstance (like foreclosure) does not imply motivation. Motivation is an emotional response to a circumstance, not the circumstance itself.

To fully grasp this, you need to understand what a motivated seller actually is.

Many people think a motivated seller is anyone who wants to, needs to, or HAS to sell their house.

That is wrong.

A motivated seller has only one characteristic:

Anyone willing to sell their house below market value. The reason why does not matter.

Take someone in foreclosure.

Do they have to sell? YES.

And if they don’t sell, aren’t they going to be in trouble? YES.

Are they willing to sell below market value? NO.

They’d rather burn the house to the ground out of pure spite than sell to you at market value—let alone at a discount.

Once you understand the basics, you’ll soon realize that the ways everyone tells you to get motivated seller leads are factually, universally wrong.

Not an opinion. Just pure facts.

You can’t target them. They target you.

"You can’t target motivated sellers. It is absolutely impossible. The reason why? Because no one—and nothing—can predict when someone becomes motivated."

I can: when a person is starving and hasn't eaten a meal in days they are motivated to find food themselves or buy it from someone else. If they dont, eventually they die.

If I want to sell food i would target starving people because they are motivated by the avoidance of starvation and death.

This is what motivated means according to the English language dictionary:

provide (someone) with a reason for doing something.

Someone whos home is being foreclosed, where they have defaulted and an auction/sale has been set is being given a reason to pay the debt back. If they cant pay off the debt there homes will be sold, they will lose all equity, tarnished credit history and be homeless.

A wholesaler can come in and potentially save credit history, setup a deal to keep them in there home and even structure a deal to get the homeowner some equity back.

The wholesaler/investor would never know this opportunity existed if they di not find a record/notice/document that indicated the home was being foreclosed on. The lead gave them the knowledge and motivation to potentially make a substantial profit and help the borrower.

This is why people buy leads and lists consisting of records showing people are in the process of losing there homes. The process motivates them to sell.

If they are not motivated to sell to a wholesaler for a lot cheaper because of the legal process they are in, what has made them sell it for less?

No, you can't.

I am going to take a lot of effort here and write something for you and everyone to finally change the way you think.

Pick 1000 people from your favorite Foreclosure list and ask them:
“Do you want to sell your house or would you rather keep it?”

1000 out of 1000 will say: “I rather keep it”.

Now take 1000 people from your favorite Tax Lien list and ask them the same question:

Do you want to sell your house or would you rather keep it?”

They’ll say: “I rather keep it”.

Ask anyone on any of your lists the exact same question and the answer will be the same. You are going after people who explicitly rather keep their house than sell it, to try to convince them to sell it. Really really REALLY Stupid, no?

This is equivalent to buying a list of vegans, to try sell them baby-cow burgers.

Now, Hold that thought…

I’m going to give you facts, not opinions. After reading this, do whatever you want with it—but don’t argue with me (please). It will fall on deaf ears. I really am not going to go back and forth on this.

Let’s start with actual numbers—YOUR OWN data.

If foreclosures were truly motivated, it wouldn’t take 5,000 mailers, calls, or texts to get a contract signed.

Your food analogy? You clearly don’t understand what a motivated seller is.

From your writing, it’s evident you believe a motivated seller is simply someone who wants to, needs to or has to sell their house (hence your foreclosure example).

The truth? A motivated seller is anyone willing to sell below market value, no matter what the reasons for selling are.

Let’s take your example—someone in foreclosure.

Don’t they HAVE to sell? Yes.
And if they don’t sell, aren’t bad things going to happen to them? Absolutely.
Are they willing to sell below market value? Absolutely not. At least 3,000 to 5,000 to 1 says NO!

These people would rather rip out the cabinets, take the fridge—hell, even burn the house down out of spite than sell at market value, let alone at a discount.

Let me simplify it for you:

5,000 mailers for one closed deal = 0.02% success rate.
That means your failure rate is 99.98%.

So, can you really sit there and tell me you can target motivated sellers when it takes 5,000+ attempts to close one deal? (Rhetorical question—the answer is obviously no.)

Numbers don’t lie.

Your opinion doesn’t change mathematics. The numbers are what they are.

If you could target motivated sellers (which is different from finding them), your failure rate wouldn’t be 99.98%, right? Right!

Now if you are a good sport, let's talk about your clever reference to the definition of motivated “according to dictionary” and let me show you where you went wrong:

First:

Motivation is an internal state that drives people to take some of action or make a decision. Yes. So in your/this case, this would translate to, “Yes, they decided they want to sell their house.. They agree to sell their house”.

Sure, but you are missing the most important part. Coming to the decision to sell their house, is NOT the same as willingness to sell below market value. And there lies the grounds behind the fact that you can’t TARGET them. Remember, finding them, and targeting them are two completely different things.

Second:

Many people like you think that “circumstance” implies “motivation”. But that is wrong. Circumstance (like tax liens, foreclosure etc. etc.) does not in ANY way imply motivation. Motivation is an emotional response to a circumstance. Not the circumstance itself. So yes, although the sensible solution to a foreclosure is to sell fast for cash, the emotional response however is to find ways to keep their house not sell it.

I hope this makes you see the error in your ways.

I’ll repeat—I’m not here to debate this. Believe what you want. But this isn’t a contest of who’s right or wrong, who’s smart and who isn’t.

You can have that trophy—I truly don’t care.

My only intention was to correct a completely false narrative about lead generation, and instead, I’m met with pure and complete ignorance. But I won’t lose sleep over it.

Really, man… Keep sending mailers to the foreclosure list. I truly wish you the best of luck with that (not being sarcastic, I just truly don't care what you do with this knowledge... but I do hope you use it wisely).

Your comment: "Numbers don’t lie."
My Stats prof taught me that there are lies, damn lies and statistics. ;-)

3 Votes

Bryan-College Station, Texas

Quote from @Michael Carbonare:

I almost gave up on real estate investing before I even started.
When I first considered investing in real estate, I was drowning in paralysis of analysis. I spent months, no, years, reading books, buying No Money Down cassettes, (Carleton Sheets, anyone?), attending "free" nothing down seminars, (Tom Vu?? 😄), and second-guessing every potential deal. Sound familiar?
The truth is, most new, aspiring investors don’t fail because of a lack of information—they fail because they don’t take action. Your goal is to move from hesitation to execution faster than I did.
If you’ve been stuck on the sidelines, overanalyzing and waiting for the "perfect" deal, here’s my best advice:
✅ Stop chasing the perfect deal. There’s no such thing.
✅ Find a mentor or accountability partner. An investment in education is an investment in yourself. It will be the best investment you ever made. Guidance cuts your learning curve.
✅ Take one small action today. Whether it’s making an offer or calling a seller—momentum matters.
What’s holding you back from your first deal? Drop it in the comments.

Your comment "

(Carleton Sheets, anyone?), attending "free" nothing down seminars, (Tom Vu?? 😄),

And don't forget "NOTHING DOWN HOW TO BUY REAL ESTATE LITTLE OR NO MONEY DOWN" by ROBERT G. ALLEN | 1980

0 Votes

All Forum Posts by: Ken M.

Ken M. has started 38 posts and replied 536 times.

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