All Forum Posts by: Account Closed

Spin Pro as something that is not only fee based, but also something you must get invited to join by other members. The criteria for the invite may be based on the number of deals the investor has done along with the amount of influence and overall reputation, number of votes...

The value will be the mastermind group itself, along with the potential money that can be made by being in the Pro community of real players.

I am going straight for the brokers license. I will be on the investor side. I want the license for a both for investing purposes and business related purposes. Some of the pros I see:

-MLS access
-Overall better understanding of real estate law, transactions, finance
-Working with local investors/flippers and understanding their criteria
-Brokering loans

There are a myriad of other things I am considering. I have been a web and software developer for 12 years. I feel like there maybe some value I can add to other investors in terms of data and automation by combining the dev skills with the broker benefits.

As for real estate investing I continue to build capital in other assets classes while I am still figuring out my specific niche in my local market. The license may help there. To be continued...

Congrats Nick -
Way to tough it out with the flu.

I have three more classes to finish before qualifying for the exam. I am enjoying the finance class now. I am not sure how much I will enjoy Law. We'll see.

Mike -

Thanks for clarifying. I originally posted "Gross Income" but I meant to write "Gross Potential Income."

I think it's a good guideline for newcomers considering a long term buy and hold landlording business. MikeOH is saying that for long term buy and hold landlords with a portfolio of residential income properties, the combined operating expenses will average out to around 50% of the gross income after a number of years.

He hasn't been around for a while, but his argument to your post is also valid and I haven't seen anyone prove him wrong yet. His argument would be:

"Post your numbers"

As in post the number of years along with your combined gross income and operating expenses for your portfolio.

There is a plethora of strategies in the real estate investing business where this guideline doesn't apply. - including speculating and shorter term landlording. The 50% guideline is addressing the business of landlording in the context of long term buy and hold residential income properties, in which you base your returns mostly on your monthly cashflow, and not tax write offs, depreciation, and the amount of appreciation you might get on top of recapturing your capital

Great article Rich. I also like how it's framed in the light of why I should be bullish on Real Estate. More often than not I have a contrarian perspective. I am glad to hear another big sale is coming up.

I will say this for ultra short term. The way silver bumped up today I will not be surprised to see it down to 32 this week. That should shake out the rest of the weak hands.

Thanks David.

Short term the call is tough for me. Mid to long term - sometime over the next few years - my money is on triple digit silver. I believe we'll beat the inflation adjusted high ($130 - $140) range by a lot (Definitely in physical silver. I am not sure about the Comex spot price.) This will probably happen in a spike similar to how we recently almost hit $50.00 . Once we take out the 80s high and have support above $50.00 for a few weeks it's going to be interesting.

I think we will take out $50.00 by late fall or next spring.

Ultimately it may all end in an early 80s style super spike. I am looking for 1 oz of gold - or 16 ounces of silver - to be nearly equal to whatever the number the Dow Jones industrial average is.

Likewise, I like the idea of exiting when 40 to 50 oz of gold - or around 500 oz of silver - is equal to the median price of a single family home. That is already the case in some markets. But I am using the overall USA median single family home price for that parameter.

I am using history as the guide for the aforementioned exit signals. At what dollar price that will happen I do not know.

And of course I am not going to wait for that to happen before investing in real estate.

Hope that helps

Very cool Kenneth. I can appreciate that skill. I tried day trading, or very short term swing trading for about nine months. I was bad. I even sold right in the middle of the flash crash last year :) My trader friends gave me a puzzled look on that one. I don't blame them. Actually that was my last trade for anything I don't want to sit on for more than at least six months.

For any trade I have to stick to mid and long term plays where I get the fundamentals.

As I learn more about real estate I am sure these quirks of mine will help me pick an appropriate niche.

Oh man I am sure some people got fleeced when they bought at $48, panicked, and are now probably selling at $34 to Rich.

Short term trading really can be a zero sum game. I am a horrible short term trader. Which is one reason why I didn't bother shorting (Though I hope every here who did short timed it well).

I do well mid to long term.