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  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    The effing politicians have sold us out, and people on this site are still arguing about the Dem & the Rep. Pathetic.

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    FunTime says

    http://www.nbcnews.com/business/real-estate/nation-renters-fewer-americans-now-own-their-own-homes-n167776

    The reason less Americans owning homes is because they couldn't afford to buy. Wait until they and their kids are renting from the Chinese and Indians and don't understand why.

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    FunTime says

    E-man says

    My investment partner retired at 40 years of age in Brazil right now.

    Retiring in Brazil is not a strategy that interests everyone.

    Works for him. Had he not invested in real estate, he would have been looking for a JOB in Brazil.

    FREEDOM BABY.

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    FunTime says

    E-man says

    Had one bought in the last 2-5 years, some of the properties had more than doubled themselves.

    Which great if you want to sell. Not so great if you're looking to raise a family in that house. Moving every 2-5 years isn't supposed to be the point of buying a house.

    Why sell? You can tap 80% of that equity tax free if you want. That's even a better deal than selling and paying the taxes and transaction costs.

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    Why my house is a terrible investment? Yep, it's a terrible investment. Why own when you can rent and be mobile? After all, real estate in the Bay Area only doubles itself every 10 or 15 years.

    Had one bought in the last 2-5 years, some of the properties had more than doubled themselves. But then again, who cares about appreciation and all of these equities. Renting is better, and it gives mobility.

    Renters rule. LOL!!!

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    thunderlips11 says

    Are you free to pack up and move without having to swing both a mortgage and a rental payment?

    Because of this thinking, I love my renters. One of them just moved out after 2.5 years living at our place. We raised their rent only 3% 1 time during this period. They left the place spotless. We raised the rent another 17% and got it rented immediately to another young couple. Gotta love real estate in the Bay Area.

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    retire59 says

    We did not buy based on Patrick's website advice as our jobs kept us in the SFBA. Rent was much less than buying as the houses are way overpriced in SFBA. So we saved and lived in small apartment and no debt. Then we retired before 60, moved to an area where home mortgage is the same as rent, again using Patricks rent vs own calculator, and are very happy owning. It is not an investment, but we all need a place to live. In this case we are getting the best for our money and able to retire and enjoy whatever time we have left. And we hated renting, but our jobs were in SF and renting was smart...I agree and thank you Patrick!!

    It's interesting that both you and Patrick made a mistake of not buying in the Bay Area and now claiming you're happy. Had you bought in the Bay Area, you would have been much more happy.

    Btw, I was able to retire at 36 years of age thanks to owning several handful of properties in the Bay Area. My investment partner retired at 40 years of age in Brazil right now. There's a price to pay when you're making wrong choices. :0)

  • On 19 Aug 2014 in Why your house is a terrible investment, E-man said:

    bgamall4 says

    CaptainShuddup says

    I could rent my place and make $600 to $800 a month.

    And it would be trashed.

    What you're saying is that all renters would trash their rental when they left?

  • On 17 Aug 2014 in clark, E-man said:

    In general, the intention of cheap borrowing cost is to stimulate the economy, and high borrowing cost is to cool down an over-heater economy.

    A good recent example would be rising interest rate between 2004-2007 to cool down the housing market and the economy and declining interest rates between 2008-2013 to stimulate the housing market as well as investments.

    Give it a little more sometime, you will see more new construction coming up with this cheap borrowing cost environment.

  • On 9 Aug 2014 in Reverse mortgages?, E-man said:

    Strategist says

    E-man says

    Why go with a reverse mortgage when you can obtain a HELOC at 4.25% IO payment with no docs? You only pay for the interest on the money you're taking out instead of the constant monthly withdraw from the bank whether or not you need it.

    Which bank requires no docs? I thought they all require full docs.

    Any Chinese bank like East West Bank, Cathay Bank, China Trust, etc will do it. Loan is up to 60% LTV. Absolutely no docs. I got 3 loans from them, 1 last year and 2 this year.

  • On 9 Aug 2014 in Baptist Center CEO Fired After Arrest for Attempted Dog Sex, E-man said:

    Son of a bitch.

  • On 9 Aug 2014 in Reverse mortgages?, E-man said:

    Why go with a reverse mortgage when you can obtain a HELOC at 4.25% IO payment with no docs? You only pay for the interest on the money you're taking out instead of the constant monthly withdraw from the bank whether or not you need it.

  • On 9 Aug 2014 in Why you should NEVER have a debt card, E-man said:

    Patrick says

    SFace says

    As long as you dont pay a cent of interest, credit card is great.

    yes, i assumed no interest.

    i'd rather pay cash for everything than pay a cent of credit card interest.

    Paying with credit cards for your purchases is great. You get between 1%-3% rebate on every purchase and sometime up to 5%. Why pay cash?

  • On 6 Aug 2014 in Wells Fargo loosens standards for jumbo mortgages, E-man said:

    No doubt Wells Fargo lost a lot of mortgage business during this downturn because their lending standard was too strict. 2009-2012 was the safest time to lend, but the big boys scaled back. Fortunately, a lot of portfolio lenders stepped up to the plate and filled the gap.

    It's ironic that now is slightly risker to lend, and the big boys are loosening their lending standard.

  • On 4 Aug 2014 in 10 reasons debunked #5, E-man said:

    Zak says

    Trees don't grow to the sky.

    But inflation does. Reality is a bitch isn't it?

  • On 4 Aug 2014 in Bay Area apartment rents continue relentless rise, E-man said:

    cloud15 says

    E-Man i, how did you make money on the referels ?

    I referred my tenant to a realtor. The realtor sold them a house and gave me a referral fee. Yes, that's how easy it is to make money in the Bay Area. :0)

  • On 4 Aug 2014 in Bay Area apartment rents continue relentless rise, E-man said:

    cloud15 says

    Wishful thinking by NewRenter.

    Bay area has a history of creating millionaires as evident from the house prices. And it has history of creating new products or disrupting existing business models , so what makes you think that it won't continue to do so. We here in SV are in the business of stealing everyone else's lunch and like honey bees we are all hanging out here. This place is going to be like Manhattan , where lucky few will rent to others

    Actually, it's not wishful thinking. Like anything in life, nothing is guaranteed. However, I like the odds of owning real estate in the Bay Area. I'd take it over putting the money in the stock market or bonds any day.

  • On 4 Aug 2014 in Bay Area apartment rents continue relentless rise, E-man said:

    hanera says

    Why is he moving out?

    If the Patneters are not buying houses, someone has to.

    I had another tenant who was paying $2,400/month. After 18 months, they bought a house in Sunnyvale for $1.5M and moved. I got $4k referral fee. Put the house on the market for $2,750 and rented it immediately to another hi-tech couple. So it's not all bad when a tenant is moving. It can be a win win.

    I already know this new hi-tech couple would likely move in a couple of years. Why would they keep on renting when their household income is over $400k? I might get another referral check. Ka-Ching.

  • On 4 Aug 2014 in 10 reasons debunked #3, E-man said:

    "We all know nothing is guaranteed."

    Wrong. Death and taxes are guaranteed. :0))

  • On 4 Aug 2014 in 10 reasons debunked #5, E-man said:

    SFace says

    All I'm saving is leverage is just reality.

    If your plan is to save up and buy ahome with cash (no leverage) chances are you are still waiting. cough cough, Patrick.

    Reality is a bitch. I'd rather keep my head in the sand. Nah nah nah nah nah nah.

  • On 3 Aug 2014 in Bay Area apartment rents continue relentless rise, E-man said:

    Rent continue relentless rise? Says who? My AAPL tenant is moving out soon after 2.5 years. I'm going to jack up the rent 12% to 15% this time to bring it closer to the fair market. Gotta love renting to an "A" class tenant. They keep the place practically brand new.

  • On 3 Aug 2014 in How Much Further Does the Housing Recovery Have to Go?, E-man said:

    Ah....The ravage of rent increase due to inflation. Reality is a bitch. Why buy and be tied down to one location? As a renter, you're free to move anywhere you want.

  • On 29 Jul 2014 in Torcana : 8% return assured for next 5 years ( iwog, SFAce, EMan -please comment, E-man said:

    @SFace,

    I've looked into tax liens. During the downturn, that was the best time to buy them and wait for redemption. However, why buy tax liens when you can make much more buying real estate? In normal time, properties, that owners let go, are typically junks that are worthless. Also, competition is fierce now because everyone is looking for yields.

    I've been looking into mobile parks. Seems like we have to go out of state to get better yields. However, we are giving up appreciation for a couple percentage points in yield. Not worth the risk in my opinion. In addition, when we invest out of state, someone else controls our destiny. As you already know, no one is looking after our money better than we can. With that said, I've been doing some hard money lending to rehabbers for 1%/month. So far, it's working out ok.

  • On 28 Jul 2014 in Doubled up on FB, E-man said:

    tr6 says

    E-man says

    Apparently not. :(

    FB profit margins are ridiculous, but sales are still very low. 3B a quarter is only 12B a year for a market cap of 200B. I have not used FB in a while, glad to get off it.

    I got you beat. I have never used FB and don't even have an account with them.

  • On 28 Jul 2014 in Doubled up on FB, E-man said:

    tr6 says

    E-man says

    SFace,

    Just sold all of my FB shares. Cleared almost $12,500 in profit. Thank you very much.

    Wow, you probably timed the top. Only time will tell.

    Apparently not. :(

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