All Forum Posts by: Account Closed

I've used both Auction.com and Hubzu.com and have bought about 4 houses between them.  It worked out pretty well but you have to have the cash on hand to do it.  

Hopefully I see the results you all are expecting.  By nature I am pretty conservative and hopefully I'm wrong here but will update my guesses once I know. 

I agree about waiting a bit if you're looking at real estate.  The 1% per month really depends on location.  In AZ you typically won't see that in any neighborhood you'd want to invest in, but inflation has made the difference in most years (likely not this one).  

In 6 months I'd say you'll be a much happier person with $250k in the bank vs one with a property they bought 6 months earlier for $250k.  

I think those assessing that LL's don't understand risk vs reward have just been caught unexpectedly are wrong about many of us.  I like to believe most LL's are reasonable people and from reading this forum most are very intelligent and business savvy.  What we are fighting now isn't just a down market but a government that is telling them they're giving people a pass on rent and forcing us to take the hit.  

I personally agree we should help our fellow man (tenants) to a point but I disagree with the government ceasing our properties without our permission and without any compensation (even from their own taxes).  This is a mafia move.  

As for the persona of LL's being evil, much of the real estate out there is owned by REIT's that are favorites of older, retired people for the safe monthly income. I'm not about to call grandma a demon.

Were it me, I'd keep it in Cash right now.  Anyplace else is a gamble and having cash if it gets much worse would make you feel like you're shopping for deals at the dollar store.  

I'm not saying you should be looking to take advantage of anyone.  I'm just saying cash is the safe bet for now and could put you in the position to make some good moves in the future.

If you're not risk averse and have plenty of time to rebuild your nest egg, there are several stocks that seem poised to profit and/or rebound right now.  Keep in mind that risk and return are always correlated and to do your research.  

Yes I believe the problem begins to go away when you realize that most of your problems are you.

- My boss is holding me back.  - No, you are letting your boss hold you back.

- My company doesn't appreciate me.  - Find one that does

- My lack of education is holding me back.  - Get the educations or find a position you like that doesn't require it.

It sounds harsh but until you stop blaming the world for your lack of happiness and start holding yourself accountable for it, you may never succeed.  (this of course was plagiarised from about 100 self help books on the market lol)

I have 10 SF homes rented.  Half are to decently paid UAW works who have been laid off and all are in a town that has been locked down.  My guess is as follows:

4 Will pay full rent

4 Will pay partial rent

2 Will pay nothing

This may be optimistic.  What are your guesses on your properties? 

Some of mine is in a retirement trust that's sitting on about 15 months of reserves if no rent came in.  The rest I own directly and have around a year of reserves.  

@Account Closed Well said.  I don't want to get political on this forum but I think you'd be blind to think that whichever party you've backed is working for you harder than their own pocket.  We need a 3rd party (damn I got political)

@Shiloh Lundahl I love that you brought up the reference to David Ramsey and Robert Kiyosaki.  It is so true (including the new FIRE group (Financial Independence/Retire Early).  

On your comments on understanding C level property tenants, I think there are some of us who have a very comprehensive study through personal history.  I grew up in that situation and it was a very humbling experience.  It's that experience that carves my choices on giving (and our belief system).  We've helped several people over the years because it's the right thing to do.  I am very ok with helping my tenants out as a part of my belief system and by thinking of how this would have impacted my family when I was young.

That's just my personal view. I believe others should be free to act in manner that supports your belief system and situation.