All Forum Posts by: Paul Sofia

I know of a good lender that has some decent terms. I would want to jump on the phone with you prior to having the rep to call. They are a direct lender and I'm certain they can blow those terms away.

I am a builder myself and understand where you're coming from.

0 Votes

Upstate New York, New York

American Financial Resources-

Triad Financial

1 Vote

Calgary, Alberta

Quote from @James Hamling:

Quote from @Paul Sofia:

Quote from @James Hamling:

Quote from @Paul Sofia:

Physical silver

Physical Gold and Silver is the #1 WORST "investment", and I would cite history to argue of.

First; There is 0 leverage potential in physical Gold/Silver.

Second; There is a High Transactional cost. One has to pay a broker fee to acquire, and a broker fee to liquidate, and once factoring such it cut's deep or completely consumes any "profit" margin.

Third; Ironically the pitch for it being a go-to "doomsday" currency, in TRUTH is it's greatest weakness. History proves, in time of great turmoil where it is of highest value, the Government simple issues a confiscation order, and freezes the entire transactional use of such unto Government controls thus making it's "protection" feature FALSE, and worthless in such scenario.

Fourth; The entire industry is saturated with scammers. There is a mass of FAKE coins out there, high quality fakes. And/or just the rip-off-artists charging monumental fee's on various physical gold/silver to point where people are paying a multiple of it's fair market value.

Fifth; Poor convertibility. Ever tried buying something with physical gold/silver? Give it a whirl, yes it was great a couple hundred years ago but today, not so much. Outside the Klondike, convertibility is difficult, limited and expensive.

Sixth; No Dividend or dividend like feature. This is major. When I acquire a performing asset I don't want to just sit back and wait for decades for it to "gain" some value which most often is no gain, it's just pacing with inflation. I want that $ to make little $ babies, and I have yet to see physical gold/silver "grow" more.

Seventh; It's unnecessary. It really comes to that, there is a long list of other investment vehicles that far out perform physical gold/silver that there is just 0 reason to use such. Real Estate for example has option of leverage use, far easier convertibility in any number of sale potentials, taking lending against it, drawing on equity etc, IT MAKES ME $ BABIES, this can't be emphasized enough that as I hold Real Estate it not only hold the wealth but it literally creates me NEW wealth in form of REVENUES.

Physical Gold/Silver as an investment is 1-thing only; a really great example of Marketing & Advertising in selling "Pet Rocks".

Really now? So, let's hear from you and where you are putting your money. My post has aged quite well since I posted, yours, not so much. I will bet against the dollar all day long. By the way, silver has intrinsic value, your vapor that may be paying you dividends, does not.

Speaking of a high transaction cost when you go through a realtor to sell property, there is a high transaction cost. 6% is a joke.

The stock market will crash very soon and our monetary system is about done. Watch an see.

If I invest in Gold or Silver, I invest in mines.

If I invest in oil, I invest in oil production, the actual exploration and field itself.

And as for where I am putting my wealth, I am buying companies, assets, and keeping some dry powder to buy out fools who got in over there heads and have poor to no liquidity for when people, like yourself, are running around with there hair on fire freaking out in emotional swings and fits.

I LOVE it when people are acting emotional and over-selling, it's a shopping spree for me.

My hair's not on fire, pal and in no way am I freaking out. I used to be into mines, no more. I can go grab my gold or silver, the real stuff, not the paper. I've been buying and selling RE for over 20 years and have been quite successful at it

I also know how the markets work. You are obviously clueless to what's going out there.

I don't know what shopping spree you're on in these markets or what you are investing in. My money is on the sidelines. When the foreclosures start going down in both the residential and commercial markets, get back to be.

Banks are failing, rates rising fed printing and we're in the largest bubble ever. Enjoy your spree.

0 Votes

Washington, DC

Bailouts are nothing more than a tax and new debt that we all take on without our permission.

2 Votes

Quote from @James Hamling:

Quote from @Paul Sofia:

Physical silver

Physical Gold and Silver is the #1 WORST "investment", and I would cite history to argue of.

First; There is 0 leverage potential in physical Gold/Silver.

Physical Gold/Silver as an investment is 1-thing only; a really great example of Marketing & Advertising in selling "Pet Rocks".

Speaking of a high transaction cost when you go through a realtor to sell property, there is a high transaction cost. 6% is a joke.

The stock market will crash very soon and our monetary system is about done. Watch an see.

0 Votes

Washington, DC

Physical silver

3 Votes

Washington, DC

I can't speak to RDU but Charlotte, see below. Just check the numbers from Aug.'22-Jan.'23. I actually saw the writing on the wall in March '20 and sold my inventory of dirt and made a handsome profit less the headache. I have since adapted my company to a retail business model doing site built construction. It mirrors my other company's model but I do manufactured and modular homes.

I was around and survived the last crash. I know many more were not so fortunate. Next crash will be worse because of the commercial onslaught. Let's not forget the moratoriums and forbearances.

If you are not buying way below the inflated market, it's best to wait...

https://www.carolinahome.com/m...

The numbers speak for themselves. When I told my banker in April '20 what my thoughts were, he thought I was wrong. I sent him pdfs of the five past months vs. last year....egg on face. He knows the numbers are off but i don't think he thought by that much. Just so you know, I have over 20 years in this game (all in the Charlotte MSA). Be careful.

I'd be more than happy to jump on the phone and give you some free advice and I can add to why we are in an overinflated market.

3 Votes

Charlotte, North Carolina

Quote from @Huso Akaratovic:

Greetings,

I'd be more than happy to talk with you on the phone and discuss why you should wait. I think you are getting some bad advice here. I've been in this game a long time (flipping, specs and on the retail side with modulars) and a lot more goes into it especially in these times. Just here to offer helpful advice. It doesn't cost you a dime.

I’ve been thinking about a move to Orlando or one of the suburbs for at least 10 years now..as we all know life happens and I was never able to make that commitment and proceed forward. I’m getting this urge again this year, but my concern is buying a primary house at the peak of the market… the houses I’m interested in were selling pre Covid between 350to450 and their prices are now 550-650…

And of course the higher interest rates are not helping in this case neither..

What are your thoughts? Wait it out or just pull the trigger? I went to visit the area last week and I see a lot of new construction going on.. I am also noticing a lot of price decreases on some listings.. I’m interested to hear some perspectives.

0 Votes

Quote from @Samuel Leatherwood:

Hello @Huso Akaratovic! I am excited for you to make the potential move to Central Fl. I love it here!

If you want to move and are ready to make that change, I wouldn’t wait around for better times. Economists and realtors can make educated predictions but we never know what’s around the corner. Time in the market is usually better than timing the market.

As you mentioned, home prices have come off their peak yet current predictions for Central Fl looking more or less flat. Also, there are many institutions predicting rates coming down to the low 5% range by Q4 2023 but there are just as many predicting rates staying more or less flat. Date the rate and marry the house. Programs such as the 2-1 and 3-2-1 buydown can also make housing more affordable by lowering your effective interest rate for the first 2-3 years.

What neighborhoods are you looking into?

Samuel Leatherwood

REALTOR

I would advise against it. "Institutions, realtors, economists " predicting(what a joke). Way too much of a gamble. I've been at this game too long to know better. Smart money is on the sidelines.

0 Votes

All Forum Posts by: Paul Sofia

Paul Sofia has started 3 posts and replied 321 times.

Post: Cut losses or try to hold on

Post: Any advice for referrals on new construction loans

Post: Mobile home financing

Post: So where else are you putting your money besides real estate?

Post: MY THOUGHTS ON SILICON VALLEY BANK COLLAPSE

Post: So where else are you putting your money besides real estate?

Post: So where else are you putting your money besides real estate?

Post: Looking to invest in a townhomes around the Raleigh /Charlotte area in NC

Post: Central Florida market— thoughts??

Post: Central Florida market— thoughts??