All Forum Posts by: Dean Letfus

It seems only people who haven't watched hundreds of investors lose fortunes doing this think it's a good idea..............

As many have said it's all about attitude.

2 things to remember.

1.  You either win or you learn

2.  Success is inevitable unless you quit beforehand.

Good way to lose a house.  No where near enough money in it to be safe.

@Luka Milicevic, what you quote is true but that is looking through only 1 lens. I feel the same way when I think about houses I bought for 200K that would be worth a million today. So that statement is a purely financial one. In my case if I had kept every property I ever purchased my second marriage would be over for a start through stress!

So reality is people sell for lots of reasons. I personally think that, ALL THINGS BEING EQUAL, holding forever is the simplest, least stressful path to wealth in RE.

But some people, like Joe for example, clearly thrive on the process of recycling, and I suspect the thrill of the hunt.  So that strategy is best for him.

It's capital growth that makes people say they regret selling. But there can be many good reasons.

Most of us have perfect hindsight and forget the path that got us there.

Your own home, holiday home and car are all liabilities so no that doesn't qualify you as an investor.

If you genuinely believe a downturn is coming don't touch them unless you're paying cash and you're 100% certain you won't need to sell for at least ten years.  You will have to own them like a tattoo........

OK got you Joe. Just looks like too much work to me! I'd rather keep finding great properties at 70 cents on the dollar and hold them forever.  Buying and selling is all work and I'm too busy to work these days :-).  But I get your headspace now.

Well that's variable. I can do more than I am doing so they aren't a bottleneck. My bank is very user friendly now I have a track record with them. Providing I have 25 to 30% equity at acquisition they keep handing over 100% lending.  But I'm not trying to do a hundred a year anything!!

60K I pulled out, which is all I put in, goes to buy the next property. I always make sure at purchase I can refi 100% of purchase price and costs.  So I never have any money in them.

@Joe Villeneuve, well I only had it in it until I got the bank loan. Then I got it all back. So zero after 3 weeks of ownership.