All Forum Posts by: Luke Ski

Cons: 1. Corona Virus Shut Down proof - NOT

          2. Post Corona Virus recession proof - NOT

Pros: 1.Watching Netflix all day everyday while you sit at home -YES   

We have strong economy ??? Really ? Do we? 10 days after the shut down of the country most Americans did NOT have the money to pay their rent on April 1st .... just freaking 10 days !!! They did not last one month !! San Antonio, food bank, feeds 120k people a week, millions on unemployment, in a few weeks you will hear about families with crazy hospital bills to pay ($20K-30K each) plus some will have funerals to pay for ( 5-10k) and that's while many were without any income coming in. Commercial real-estate owners about to lose their pants during corona epidemic, all those with over leveraged investments and kings of BRRRR will feel the sh** hitting the fan in like 3,2,1.....while rent goes un paid. This was not strong economy to begin with! Homes, cars and student loans leveraged to the brim while most pay the minimum is not a sign of strong economy.This was crap economy on borrowed time and borrowed cheap money. Sorry y'all

Mike, I cannot be mad at you because sounds like you know your stuff and we all have different risk tolerance, although I think that you are just more optimistic about this crisis than I am.Not that you are wrong and I am right but just different believes about what's about to happen in next few months. People may have more equity in their homes but possibly more debt due to their cars, their kids student loans and credit card debt. No one cares if you are only 2 years away from paying off your house entirely because if you (not you but people out there ) lose your job and income you lose your house. I travel a lot to Miami and I do remember that during last crisis cities like Miami and Las Vegas go first down to nothing (real-estate wise) because those cities have a lot of 2nd and 3rd homes sitting empty(while being terribly overpriced), plus  when **** hits the fan vacation homes lose the most value. I really hope that your deal works out for you and brings you lots of profits.Cheers 

You will run into a real big problem if you actually buy this or any other investment property within next few months. I guarantee you, this condo in a few short months will be worth a half of what you are planning to pay for it now. Do not buy anything right now, and especially do not buy some weak ,break even-condos during greatest financial crisis in last 100 years. You will thank me later....and by the way, those numbers suck, big time! You either get $500 profit per door or you never buy it.

2020 is definitely not a year to try BRRRR anything. I hate to say it but i think a lot of people that preach BRRRR and leverage their rentals to the brim will lose their pants during these crises. Now is time to sit on your hands and stay cash rich, and not to buy overpriced real estate which in a few short moments will be worth wayyyyy less. BRRRR is never a good idea and those in deep debt will regret it shortly. Sorry to be the negative news deliveryman

Well, my best guess is, the 190K house in a few short weeks will be worth a lot less(min 30% less). Right now is not a time to purchase a damn thing. Millions of Americans will be unemployed in a few moments and homes values will go down to nothing. You will be in way better situation 2 years from now buying house for peanuts. Just my 2 cents

At 37 year old I am not comfortable with the idea of being able to get my money out of 401k at age 60 plus. I do  have government pension at my regular job so I waste no time and money for 401k with rules and regulations.

The truth is, the more money you put into 401k the less money you have to pay off you mortgages. Some people don’t mind having them and paying interest for long years. They celebrate having 100k in their 401k while they blew 100k while paying interest on their mortgages. And once you reach 62 or 65 government will distribute your money on their schedule, nope. Thanks 

In few years having 8-10 properties paid off ( now I have 2 fully paid off and 3rd one coming up) I can care less about 401k and their monthly checks.

My family can enjoy thousands of dollars coming every month from rent long after I am gone.

I like to be in charge of my wealth all the time and no middle man with rules and regulations is needed.Waiting until I am 62-65 to get checks ,especially for a man ( we tend to live  shorter than women ) is pure garbage. At 65 I will be too damn old to enjoy it. 
Get your money ASAP and don’t wait until you 65-70 to spend. 
Just my 2 cents 

"When my husband and I rented in CA, my husband bought a new toilet seat and tried to bill back the landlord. I had told my husband that he needed to get the OK from our landlord first before doing that. Guess what? Landlord didn’t reimburse us...which I knew was going to happen. We were the proud owners of a toilet seat!"

Sorry but I could not help not to comment on it

Buying a toilet seat and trying to get reimbursed for it from the landlord and then to take that toilet seat on the move out....Holy cow.Husband took sh*t to the next level :)

Beautiful house and amazing flip but.... you guys over did it. I think that you changed too much (I would not touch bathrooms or the kitchen, they were fine!)and used a lot of too expensive materials that don't belong in 300k house. Not sure if you and your wife did any of the work (on rehab side) because over $30K in labor stinks. I tend to believe that you tried too hard and made this house into a nicer that it needed to be. Very nice house and beautifully done, but you don't flip properties for others to buy the way you would flipped your own. Just my 2 cents.

Cry me a river. Calling people out on their bs has zero to do with hate and a lot to do with reading their post carefully and thinking about the stuff they wrote. When you post on forum you may get some good with some ugly and just because someone got offended does not mean that they are right. Dude wrote that he has 2 high paying jobs but can’t afford $5k rehab and now y’all mad at me?