All Forum Posts by: Mike Westen

Don't care about net worth. Main goal is 1million+ cash flow a year. 

Boats, Hypercars, Big Houses, Women

Basically want to live like a baller but without the fame. It all adds up

Go to Home Depot buy some peel and stick flooring and grout it. Cheap and easy way to make flooring look new.

Look for the bigger planks and that's kinda the style people like.

Buy a business. I'm looking buy one now. 400k and cash flow of 180k. Plus with cash flow like that banks just throw money at you. And you can just keep reinvesting.

But if you don't know anything about the business you will fail and your employees will take advantage of you. 

Risk/Reward

As of April 14th the CDC changed the rules about reporting deaths.

Any death that looks like a COVID-19 death gets counted as one. 

Here in the US we get lots of pneumonia deaths every year close to 50,000 and now some of those will be counted as COVID-19 deaths. And who knows what other diseases that attack the lungs are being counted as COVID-19 deaths.

Are they trying to inflate the death numbers? I sure hope not

It's hard to trust a government when money plays a big influence.

Sweden took a different approach to flatten the curve. They never did a lockdown instead they focused on isolating the elder and those with underlying health conditions.

And they are saying within weeks their capital will reach 'heard immunity'.

As a 2nd wave of COVID-19 could be more deadly as it will be here when the flu season starts. Sweden won't be affected as much.

Somehow politics always get in the way. Block this and that. Cause one party is always trying to make the other look bad and vice versa.

Plus election year doesn't help.

Hopefully we'll learn from this and build extra hospitals and have them stockpile mask, and other items we are short on to prevent this from happening again.

In 2008 the Fed had a full toolbox to save the economy e.g. cutting rates, QE, etc. In 2020 the Fed is fighting with an empty tool box. They can save the stock market but if interest rates are at 0% they really can't do much more for saving real estate. 

Banks know uncertainty is coming so down payments will be 20% to minimize risk to the bank. 

This will be a recession no doubt about it, jobless claims are still at over 4million while 2008 was only 700k. Nobody is working. Nobody is traveling. 

If this COVID-19 does a 2nd wave in the fall and some say it will, then this will be worse than 2008 if we have to re-close the world again.

Its just part of the game, we will get through this. Don't get greedy.

Just my 2cents

In my opinion it's a great deal.

I'll gladly pay 10% not to deal with people. It's like hiring a manger for your day to day operations. 

Of course, I'm doing it all by code. I have pass inspection regardless. I need a 2 hour firewall rating walls too.

Sounds like typical Chicago 😂 I'll have to drive around and look for new porches and see what they did.