All Forum Posts by: Andy M.

Now this should be an interesting topic.

Come to think of it I haven't had any really really bad losses in real estate. My worst losses came from trading index options. But since this is a real estate based question...

When the market was turning 3-4 years ago I was in the middle of a flip and decided to rent it. Bought it for 110k ish put 20k into repairs, held onto it way too long, then put a renter in the property. I ended up selling the property to an investor with the tenant living there. Overall I think I lost 20-25k. I held on too long not wanting to take a loss. Lesson learned: taking a loss quickly is generally the best move. Saves you time, money, and emotional stress.

I feel fortunate that my winners have far exceeded my losers in the past 9 years. A bad day as a full time investor beats a good day at a 9-5 JOB IMO.

I have used postcardmania and my cost per was .33 delivered. Two sided color postcards. They will also help with design and layout. That pricing might have come down for me due to volume, I printed and mailed 5,000 a time through them.

$5 over spot on silver eagles is a bit steep. My local shop is charging $3 over for eagles and $1.50 over for generic rounds. I agree with rich that you don't necessarily have to buy eagles with there high premium. I have both generic silver rounds and eagles.

I am like Savana, I don't "trade" silver. If you are buying precious metals as a hedge then trading doesn't make a lot of sense. I view it as a long term savings account and different investment.

Thanks to everyone for the replies, this Is why I love BP! Great forum for any question. ;)

IRA Wealth is a good intro book into investing with a self directed IRA or 401k. There is probably a company local to you offering this service and they could answer your questions. I use American Pension Services.

I'm really new to the slr world. I just decided it was time to take better pictures. So my 18-55 lens should work? It just seems like I can't capture enough of the room sometimes. I feel like I wish I could back out more so I thought a wide angle lens would so the trick. That said, I'm a total lighting rookie as well. I have a friend who when to photography school, I should pick his brain. I didn't know that there was so much that went into taking a good picture!

Thanks for the advice, Ill make sure to stay away from the fish eye lens. I didn't know you could rent them so I'll go down to a local shop and check it out.

My buddy just closed today on a 4 plex in Ogden. All 2/1's which will probably rent for $550-600 per unit. It needs repairs but he only paid $55,000. Should be a cash cow as well. Ogden has some crazy cap rates.

Nope. :) sounds like you got a cash cow. Congrats again, I'm sure we will bump into each other at some point. If you stay in this business long enough you tend to get to know most serious people in your market. I can't tell you how many times I run into the same people for the same house though.

Duplex off Washington blvd in Ogden?