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All Forum Posts by: Account Closed

Account Closed has started 30 posts and replied 510 times.

Post: BiggerPockets Real Estate Conference: Is it time?

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

RECon 2012

Post: Saw Peter Schiff Speak Last Night

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70
Originally posted by Mark Fitzpatrick:
Schiff made the point that the Fed is pretty much screwed either way. If it doesn't raise rates, the economy is hosed. If it does raise rates, the economy is hosed. Nice choice, huh?

Actually, doesn't it get to the point where rates rise whether the Fed wants it or not? I thought ultimately, in times like this, the global market will be the final determinant on rates, even for the mighty USA.

Post: Saw Peter Schiff Speak Last Night

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

I am also a Peter Schiff fan. He has been consistently right for a long time. He often framed as a nutcase by mainstream media, sort of like Ron Paul and Jim Rogers.

I wish I could have been there. I continue to listen to all of above whenever possible, and they heavily influence my investment decisions.

The serious stagflation prediction makes sense to me, if things do not change yesterday.

Interesting comment about rent prices in stagflation. I haven't completely thought that through, and that prediction makes sense. It seems people would be forced to downgrade to lower quality/lower priced rentals.

Post: Sell gold/silver to purchase next property??

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70
Originally posted by Andy McFarland:
28% tax on precious metals gains? I live in Utah so this is foreign to me. Can't you just sell in small in portions to individuals off the grid? I don't think I would go sell 10k + in precious metals to a dealer, just me.

Yep. If it's bullion sold "on the grid" we are taxed 28% on the profit. And the 28% taxable event would apply if you sold me a house and I paid you directly with bullion.

I am not sure how your state got out of that. They must have dug deep into the constitution :) Congrats!

I certainly hope by the time I start selling more states - including mine - adopt that idea.

Post: Sell gold/silver to purchase next property??

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

I am pondering something similer in the next year or two. I do believe gold has a ways to go on this uptrend. It appears to have consolidated nicely between 1700-1800. That does not sound ready to crash to me, based on historical patterns for the yellow metal. However, there are valid points on both sides.

In either case, one challenge with a bullion sale is the 28% 'taxable event'. Except for those living and selling in Utah where gold is much closer to functioning as money instead of a commodity.

I don't think I will time it perfectly. Chances are you won't either. But with due diligence on the swap you will be fine.

Good luck!

Post: Best Sources for buying Physical Silver?

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

In addition to your local coin shop apmex.com is good. Or I should say my experience was. Always research. A google search may bring to light any issues.

Apmex also buys back at decent prices. So you can use that to negotiate if/when you sell back to a coin shop.

Post: I've become very interested in bridge loans.

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

@Will: Thanks. I also remember you mentioning that exact thing - "Using a Real Estate Broker you can get around CA Usary laws" - at one of Rosie's meetings. I just wanted to clarify for Matthew.

@Bryan: Thanks for that article link to the Primer on Bridge Loans

Post: I've become very interested in bridge loans.

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

Darryl that is a lot of information. Thanks. I too am interested in Bridge loans. More specifically in providing them.

Originally posted by Will Barnard:
Matthew, the other thing you will need to know about is usury laws. For CA, unless you have a loan brokers license, you may not charge in excess of 10% per annum and most bridge loans/transactional funders exceed that by a long shot.
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Will, I believe you can also get around CA usury law by going through any real estate broker, or having a real estate broker's license, not just a "loan brokers license"

Post: WordPress

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70

@Joel, Yes your Wordpress site can be branded, designed, developed and hosted on a php platform, anyway you wish. It's only if you hit the bigtime choose managed hosting solution like Wordpress-VIP, that you will have additional Wordpress branding required.

Wordpress is one of the best open source CMS solutions out there. Chock full of free plug-ins so a non-developer can get a lot of common functionality right out of the box.

However, if you want custom functionality; functionality that is out side the norm of most websites, then Wordpress is tougher to develop in than the more recent frameworks. For example, there are CMS solutions like Wordpress that are built in Rails, Django, and even Node.js. Those are much more easy to extend with unique functionality, because it's built in an MVC framework.

With Wordpress you have a great free open source CMS because of how long it has been around. However, with thesis and many other Wordpress theme frameworks, adding functionality out of the norm may take longer and cost more.

Wordpress is the probably the way to go if your website is pretty straight forward. Most investor, agent and broker websites seem to be. If that's the case it's probable that Wordpress already has every plug-in built that you need.

Post: "Due on Sale" clause and interest rates?

Account ClosedPosted
  • Los Angeles, CA
  • Posts 557
  • Votes 70
Originally posted by Bienes Raices:

However if someone locked in at a historically low interest rate today and then deeded the property to an LLC...

There is a reason you can get a lower cost loan as a consumer, versus as an entity. Otherwise why not take the loan in the LLC to begin with? In other words, Dave has some great points. Especially if the loan is not a portfolio loan.

No one knows for sure whether or not a the loan will be called. However, it's a pretty solid bet that once rates rise significantly, lenders will be doing a thorough analysis to determine whether or not it's worth it to call certain loans.