patrick.net

zzyzzx says

You are just noticing this now???

I haven't been to this site in nearly 2 years. :)

E-man says

Patrick.net will always have a special place in my heart. This is where I met a complete stranger, who shared a lot of common interests. We invested in real estate together during the downturn. Thanks to those investments, he could afford to retire in Natal, Brazil with his Brazilian wife since February 2014 at the age of 41. Here are some pics for those who have met pkennedy in person.

Wow good for him. Though, I'm not sure I would post his pictures out there publicly.

Goran_K says

Yeah it was sad what happened to Roberto but he did kind of ask for it.

What's really sad is that you could actually think this.

Good for pkennendy.
It takes a lot of time and energy to actually invest in RE.
When you do you actually do 'real work' , take real risk, spend real money and create real jobs, construction, facotories, resellers (home depot), re agents get work, title people.

Its easy to buy a stock and day trade but i doubt that adds much to your local economy, and doesnt 'fix up the ugly houses' like investors do when they buy to rent or flip.

This board was always infected with a bad case of 'landlords are evil, capitalism is evil' type of thinking. (that thinking keeps you poor just like renting 4eva does)

I just started looking at this site again after 3 or 4 years it is a different site but still thankful for finding it back in the beginning. It save me a lot of money, I almost bought a house around 2006-2008 learned a lot from here and it help me delay until 2011 bought at 330k now worth 600k.

thats awsome rpanic.
the low end has doubled off the bottom, the high end maybe up only 50 to 80% (coastal cali).
I would have done better buying 3 homes at 300k each instead of one at 900k.
and also i would have rented out 2 of them instead of paying the whole mortgage myself.
oh well 'next time' i will do that. I doubt RE 'can' crash 50% again - there is just too much in place to keep prices propped up. ZIRP, 1% CD rates, gov rules, etc.

PockyClipsNow says

Sorry I cant give zip code - too many internet stalkers here.

Bullshit there is no way anyone can track you down by posting your zip code in an anonymous board. Ok then what is the county? I'm very curious about where 80% appreciation in 3 years is the norm.

PockyClipsNow says

Thats how you get 700k. This percent increase is right in line with coastal CA case shiller appreciation for last 3 years. No fairies needed.

rpanic says

help me delay until 2011 bought at 330k now worth 600k.

There are 800 miles of coastal CA. Is it all increasing at 28% a year? I can't find a county in case shiller with anything near that. Shiller says orange county is up 33% from the bottom in 2011. That's 4 years for 33%, a far cry from 80%. or 95% in 3/4 years. Where are these mythical places?

They are in the good school district (racist code word for white/asian) areas of coastal cali. Case shiller does not filter out the ghetto/bad school areas like actual home buyers do.

Just look at santa monica on redfin.
Or malibu.
Or hermosa beach.
Or 'south of blvd' studio city,ca.

PockyClipsNow says

Case shiller does not filter out the ghetto/bad school areas like actual home buyers do

You are the one that said case shiller prices in the first place. Ok I looked at malibu. Bottom to top 2012 to 2015 36% up. That's a long way from

PockyClipsNow says

Thats how you get 700k. This percent increase is right in line with coastal CA case shiller appreciation for last 3 years. No fairies needed.

90% appreciation you are claiming. What ghetto/bad school areas are in malibu that are bringing it down so much. Still sounds like a fairy tale to me.

VCs have been air dropping $7-8billion a year into the Bay Area. SoCal has been getting injections of a couple of billion dollars a year. Party like its 1999.

Set the wayback machine to 1999:
In November, [the company] closed a $62 million round of financing led by one of Silicon Valley’s biggest venture capital firms, Sequoia Capital, valuing the company at hundreds of millions of dollars. ... Like many tech start-ups, the company... doesn’t generate any revenue.
But wait, it's actually 2015.

I guess I am exaggeratting the increase from 2012 a bit.

Im getting kool aid eye from all those billions of VC dollars

My webvan order never showed up so I'm hungry, my etoys orders are VERY LATE as well, (still no xmas presents!) I ordered some sports equipment from fogdog but now the website is down, but I think it might be my excite@home internet connection acting up because broadcast.com isnt working either - apparently Mark Cuban isn't running it anymore when did that happen.

I guess a RE bubble blog not so boring after all is it people? Where is Thomas Wong 1986 and the 'prices at 1975 levels soon' guy.

Goran_K says

Wow good for him. Though, I'm not sure I would post his pictures out there publicly.

I don't think they care. They're in Brazil. He knows Patrick personally. He can ask Patrick to take the photos down if he doesn't like them.

Just to prove a point that taking risk at an appropriate time can yield huge returns. The same effort can be used to think of ways to make more money instead of save money. It works for us. Others should try sometimes.

He also got lucky that the Real lost a lot of value. When he moved there, the exchange rate was 1 dollar = 2.15 real. Now, it's over 3 real for a dollar. He's been living large. Lucky guy and gal.

EBGuy says

VCs have been air dropping $7-8billion a year into the Bay Area. SoCal has been getting injections of a couple of billion dollars a year. Party like its 1999.

The biggest difference is that a lot of current start-up companies are making money compared to 1999 where a lot of companies were burning money. Although we're not at the peak yet IMHO, things are getting a little frothy out there. Just be careful.

Wow, this is like a family reunion, complete with drunken fights and all!

So touching! Sniff.

Really miss this site being about housing, really can't get into the tech vibe. That is more for the entrepreneur with a niche for IT.

noooo! I came here to do a victory lap and bump some old threads :(

I agree with Chap. I miss the housing discussion. There was a lot to learn here.

With the public ' s enthusiasm about tech stocks lately, I'm wary of their performance in the near future.

yes actually there was a lot to learn, if you didnt get the permabear virus infection from reading here too much.

If I had run a bubble blog like this one was - I would have banned the people who ruined the site.
Virtually unmoderated forums are fun for some things (fark?) but for business discussion to allow unbridled attacks, endless racist rants, wayyyyy off topic posts. Thats counter productive YET was one reason why it was fun? I guess natural selection is at play and the old site is dead.

Now it seems like a poor copy of tech crunch meets fuckedcompany.com 1999 (that was fun for a while, there was guy there called 'uncle stinkfinger' or something who would be just awful in every post like he lived there.lol)

I remembered fuckedcompany. What happened to that site? Why did it close down? I heard he got sued or something.

Goran_K says

I remembered fuckedcompany. What happened to that site? Why did it close down? I heard he got sued or something.

http://en.wikipedia.org/wiki/Philip_J._Kaplan

patrick could turn this into a fucked company type site if he was funny and could mock all the dumb start up ideas, that was fun especially during the crash year.

that site made money by charging a subscribtion fee to see all the unmoderated 'company gossip' that was posted, somehow that was useful to day traders/vc's?
mostly i guess ad revenue from high traffic was his main money? He outsourced the moderation (what little there was if any?) then it went down hill.
He would mock all the companies mercilesslly and got in trouble all the time for messing with thier logo or posting it etc.

I still remember when some lame big head shop went under, pivoted a bit, renamed themselves 'assentor' he had a headline with a tag line 'whatever renames itself Assentor (pronounced ass-enter)' and thats how i prounce it today- they are huge, ha!
He had lots of fun mocking the tech bubble he had comic images and one liners to insult any idea or company like i remember somehting like this:
Dot Com Business Plan:
1. Purple walls
2.. foosballl
3. surf porn all day
4. Profits!

Anyone who worked at a startup back then loved that humor.
I had an interview recently (a month ago!) where this place had gotten like 200m funding and was wayyyyyyy overstaffed. 5 guys interviewed me for 2 hours, whata waste of time. They do lame 'cloud' accounting software. This shit gonna crash again soon, if companies use the cloud to 'save money' then long term there should be less profits/jobs is that not obvious? I remeber when henry blodgett said '85 percent of these companies will be gone in a year' and the the SHTF no more play time on VC dollars (til now).

http://www.amazon.com/Fd-Companies-Spectacular-Dot-com-Flameouts/dp/1416577939

So who's going to buy Square? Should we start the bidding at $1 billion? Any takers?

Sometimes I wonder if NAR got to Patrick.