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Cash keep flowing.

By REpro following x   2011 Dec 23, 2:01pm 9,212 views   32 comments   watch   nsfw   quote     share    


I lost contracts on purchase of two different houses to buyers, with all cash, full asking price offers, within last 20 days.

1   JodyChunder   ignore (3)   2011 Dec 23, 2:59pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

don't dispair and keep on trucking REpro. you will be rich if you just keep buying single family houses to rent back to the jealous ones who can not buy a house. $$$$$$ you just got competition from other geniuses like me.

2   toothfairy   ignore (1)   2011 Dec 24, 12:54am   ↑ like (0)   ↓ dislike (0)   quote   flag        

This is what happens when prices get near rent. People dont like to pass up free money. even in the bad areas. Can only imagine what the competition would be like if this were to happen in the good areas.

3   REpro   ignore (0)   2011 Dec 24, 3:28am   ↑ like (0)   ↓ dislike (0)   quote   flag        

I see strong cash buy activity in ANY price range, in ALL neighborhoods. From investment point it is not the best option but for live-in is fine. Perhaps some hot cash in coming to country in big way. It would be interesting to see what effect it can make on future prices. In Las Vegas for example dominated by absolutely all cash buying, did not stop houses from losing value.

5   dunnross   ignore (6)   2011 Dec 24, 4:47am   ↑ like (1)   ↓ dislike (0)   quote   flag        

JodyChunder says

don't dispair and keep on trucking REpro. you will be rich if you just keep buying single family houses to rent back to the jealous ones who can not buy a house. $$$$$$ you just got competition from other geniuses like me.

Geniuses don't buy when others are buying. Geniuses sell when others are buying and buy when others are selling.

6   APOCALYPSEFUCKisShostikovitch   ignore (38)   2011 Dec 24, 4:54am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Cannibal anarchy looks like that when it's starting.

7   bubblesitter   ignore (0)   2011 Dec 24, 5:20am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Yep, seems like cash is flowing in wrong direction. LOL.

8   FortWayne   ignore (4)   2011 Dec 25, 1:18pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

dunnross says

JodyChunder says

don't dispair and keep on trucking REpro. you will be rich if you just keep buying single family houses to rent back to the jealous ones who can not buy a house. $$$$$$ you just got competition from other geniuses like me.

Geniuses don't buy when others are buying. Geniuses sell when others are buying and buy when others are selling.

great time to sell when rates are low like now. Residential market is fubar with gov meddling too much in it.

9   JodyChunder   ignore (3)   2011 Dec 27, 7:17pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

bubblesitter says

Yep, seems like cash is flowing in wrong direction. LOL.

thats right! flwoing right into my fat happy hand the first of every month.

10   GUAB   ignore (0)   2011 Dec 29, 3:19am   ↑ like (0)   ↓ dislike (0)   quote   flag        

JodyChunder says

bubblesitter says

Yep, seems like cash is flowing in wrong direction. LOL.

thats right! flwoing right into my fat happy hand the first of every month.

Yep!

Great time to buy in certain areas when so many people are forced to rent. I think it'll eventually even out though as we work our way through the next 10 years.

11   B.A.C.A.H.   ignore (0)   2011 Dec 29, 4:34am   ↑ like (0)   ↓ dislike (0)   quote   flag        

REpro says

I lost contracts on purchase

Ah yes, the "I lost the house talk".

Losing something that you never had?

It is Bubble-Talk Yuppie-Talk, I heard a lot in the runup to summer 2006, "We Lost the House".

A couple or so later, I heard others also say, "We Lost the House", but this time, it meant something different.

12   edvard2   ignore (1)   2011 Dec 29, 6:05am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Well hey, there's better investments out there anyway- like the stock market for example.

13   everything   ignore (1)   2011 Dec 29, 6:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Interesting in the AP article, how the NAHB says one new home construction generates 90 thousand in taxes.

14   JodyChunder   ignore (3)   2011 Dec 29, 11:58am   ↑ like (0)   ↓ dislike (0)   quote   flag        

edvard2 says

Well hey, there's better investments out there anyway- like the stock market for example.

i know personaly three baby boomers today that are now living in basements and campers that had the same idea as you.

15   FortWayne   ignore (4)   2011 Dec 30, 2:11am   ↑ like (0)   ↓ dislike (0)   quote   flag        

JodyChunder says

edvard2 says

Well hey, there's better investments out there anyway- like the stock market for example.

i know personaly three baby boomers today that are now living in basements and campers that had the same idea as you.

No offense Jody, but Victorville isn't exactly where successful people move to. I can cash out today and probably buy a whole block of houses in your neighborhood. You see, when someones life accomplishment are a few wooden structures, it's a wasted life.

16   Nomograph   ignore (0)   2011 Dec 30, 2:15am   ↑ like (0)   ↓ dislike (0)   quote   flag        

FortWayne says

No offense Jody, but Victorville isn't exactly where successful people move to.

FortWayne finally says something I agree with.

Nobody in their right mind lives in the Mojave Desert unless that's all they can afford.

17   REpro   ignore (0)   2011 Dec 30, 4:59am   ↑ like (0)   ↓ dislike (0)   quote   flag        

News from my LinkedIn fellow:
"Brazil just passed Britain to become the sixth-largest economy in the world."
"Miami Has a Hearty Oi (Hello) for Free-Spending Brazilians.
Flush with cash, Brazilians are spending millions of dollars for vacation condominiums, clothes, jewelry, furniture, cars and art in South Florida."

18   edvard2   ignore (1)   2011 Dec 30, 5:31am   ↑ like (0)   ↓ dislike (0)   quote   flag        

JodyChunder says

i know personaly three baby boomers today that are now living in basements and campers that had the same idea as you.

Likewise I have relatives who are worth well over a million, not including their homes, who did nothing more than invest in 401k's and mutual funds. Oh- and they retired early. I also know a ton of boomers- especially in the bay area, who own reallllyyy nice houses but are practically broke because they view their houses as their retirement.

19   LAO   ignore (6)   2011 Dec 30, 6:32am   ↑ like (0)   ↓ dislike (0)   quote   flag        

edvard2 says

Likewise I have relatives who are worth well over a million, not including their homes, who did nothing more than invest in 401k's and mutual funds. Oh- and they retired early. I also know a ton of boomers- especially in the bay area, who own reallllyyy nice houses but are practically broke because they view their houses as their retirement.

You do realize the stock market has gone practically NOWHERE for the past decade?

DOW was 11497 in Oct. 1999.... Now in Dec 2011 it's 12217....

WOW, quite the investment!?! Housing has been a better investment for your Bay Area Boomers than the stock market in the last decade... and that says something when housing is down 40% from the peak.

The current stock market is more prone to a bubble than housing moving forward. I doubt any of your relatives started investing in stocks in 1999 and got rich off them.

Moving forward if housing doesn't stabilize and start appreciating normally just above inflation.. And we don't stop killing off the middle class by destroying their greatest asset. The stock market isn't going anywhere for another decade.

Bankrupting a generation won't spur growth in stocks and 401ks.

20   B.A.C.A.H.   ignore (0)   2011 Dec 30, 9:20am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Nomo, lotsa Air Force brats and defense contractors live out there. Known a few of them myself.

21   JodyChunder   ignore (3)   2011 Dec 30, 3:25pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Nomograph says

FortWayne finally says something I agree with.

Nobody in their right mind lives in the Mojave Desert unless that's all they can afford.

right mind. where do you live sport? I started life in Carpinteria lived in Oceano Orange County Palm Springs and finally Victorville. I own rental homes in all of those locations and also some of property out of state. Victorville has some trash yes. So does every p;lace. but I spose every one who decides to live in the high desert is low budget to a big time winner like yourself huh? And every one who lives in TEXAS is a shit kicker? And every one who lives in Kentucky is a racist? You are as Closed minded as the folks you take so much joy in farting on. i can tell you have a lot of opinions but none with any MEAT on them

Mojave is a spiritual place I can see why you would hate it.

22   JodyChunder   ignore (3)   2011 Dec 30, 3:28pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

itptiemann says

Given that Victorville had a *massive* crash when the RE bubble popped, I never believed Jody really lives in there. She might as well have written "foreclosure central" or "short sale ground zero". Surpassed only by Las Vegas.

Not to mention, do they have internet available there?

never bleived me why? Victorville has been my home for the last 13 years off and on. I been here thru the crash and will die here most probably. Made out very well here and elsewheres. it makes no sense to try to make a dent in the investment market in the all ready expensive regions. dumb money. slow and sure in the high desert. i get it tho I do not believe half of what most on here write tho so no hard feelings mrs ptiemann.

23   JodyChunder   ignore (3)   2011 Dec 30, 3:35pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

FortWayne says

No offense Jody, but Victorville isn't exactly where successful people move to. I can cash out today and probably buy a whole block of houses in your neighborhood. You see, when someones life accomplishment are a few wooden structures, it's a wasted life.

that is right up there with judging what some one pulls in based on what kind of car they got in they drive way. I am not to brag but I am pretty sure my holdings are more solid and hi valued than your own there in Indiana and that is due in a big way to my strategy in property investment here in Victorville. I also part own a Tutti Frutti with my son in law here.

hey those baby boomers I was talking about are not from here in the desert but from your extra special high $ bay area.

24   Icabod   ignore (0)   2011 Dec 30, 3:52pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

There are definitely some sick rental investments available in my area on the east coast. Even in luxury areas on islands near me there are places popping up, like condos near transportation etc, that people will surely rent. A lot of places people already had as second homes bought as investments during the bubble. I'm talking places selling for 660k in 2005 are selling for 240k now in excellent shape. My mom has two paid off in cash and they are like atms for her. My wife and I are looking at one of those for investment while we wait for max bottom for our living house. We rent a house from my dad for cheap right now and it can't be beat as a tool to let us wait and nail the bottom. For investments if you try to be creative with locations the deals are out there. There are a lot of small islands near me that I doubt people even think to search for assuming prices are still to high.

25   JodyChunder   ignore (3)   2011 Dec 30, 4:42pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Icabod says

For investments if you try to be creative with locations the deals are out there. There are a lot of small islands near me that I doubt people even think to search for assuming prices are still to high.

Yes you will be a millionare if you just keep buying houses to rent out. I rent holidays homes in teh desert to city types who want to get awawy from they terrible lives. nobody local would ever pay to live there but these folks like ruffing it. they think it is exotic!

House as a ATM. That is true! Investment properties are the wave of THE FUTURE.

26   bob2356   ignore (4)   2011 Dec 31, 3:26am   ↑ like (0)   ↓ dislike (0)   quote   flag        

JodyChunder says

Yes you will be a millionare if you just keep buying houses to rent out. I rent holidays homes in teh desert to city types who want to get awawy from they terrible lives. nobody local would ever pay to live there but these folks like ruffing it. they think it is exotic!

You would think a wealthy property investor could afford to install spell check on their computer. You can be anyone you like on the internet. Just saying.

27   JodyChunder   ignore (3)   2011 Dec 31, 10:51am   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says

You would think a wealthy property investor could afford to install spell check on their computer. You can be anyone you like on the internet. Just saying.

dear jackass: i am typing on a IPAD. i have arthritis also, happy new year

28   033   ignore (0)   2011 Dec 31, 11:07am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Spell check is a software thing, not a hardware thing.

29   033   ignore (0)   2011 Dec 31, 11:28am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Jody,
By the coast, Jenner-wise on south, beach houses go for $350 and up. Per night.
This is for maybe 14 gallons of hot water, septic that goes out after three days, central air that doesn't go out to the converted porch with single pane windows. No sidewalk, walking distance to nowhere, no parking, no maid service, no put-in for your kayak, no free kayaks either. Install stainless steel appliances and a clawfoot tub, furnish with genuine organic Alpaca comforters and bath trays, and profit.

30   JodyChunder   ignore (3)   2011 Dec 31, 6:10pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

033 says

Spell check is a software thing, not a hardware thing.

well not on this machine. it does sometimes stick a rad squiggle under my words but that is it. oh well.

$350 a night is to much, I would under sell those suckers.

31   033   ignore (0)   2011 Dec 31, 6:53pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Right click on the word with the rad squiggle, and you should see the correct spelling at the top of the menu.

How do you maintain vacation properties that are way out there? You either have to live there, or you pay one of the area residents to take on property management as an additional side business next to alpaca-yarn weaving and marijuana cultivation.


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