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housing prices peak 2
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2022 Apr 29, 9:29pm 601,602 views 5,636 comments
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2355
fdhfoiehfeoi
2023 May 25, 8:56am
fdhfoiehfeoi
2023 May 25, 8:56am
Bitcoiner says
Logan has the record for ignores. Because of that he's changed his account, and opened dup accounts. You are doing the same thing. Created a new account to try and pretend to be someone else, because apparently your old account has so many bias's associated with it, it's become unusable.
Real world and history have blown away your biased sources numerous times in this thread, but you keep doubling down like 2008 never happened. You can manipulate stats to support any viewpoint, source is everything when it comes to stats, something you ignore. Real world, not so easy to lie about...
Maybe I can find some of those old discussions between the two in an old thread. I am getting a bit curious.
Logan has the record for ignores. Because of that he's changed his account, and opened dup accounts. You are doing the same thing. Created a new account to try and pretend to be someone else, because apparently your old account has so many bias's associated with it, it's become unusable.
Real world and history have blown away your biased sources numerous times in this thread, but you keep doubling down like 2008 never happened. You can manipulate stats to support any viewpoint, source is everything when it comes to stats, something you ignore. Real world, not so easy to lie about...
2356
WookieMan
2023 May 25, 9:27am
WookieMan
2023 May 25, 9:27am
NuttBoxer says
That was likely Iwog and his alt accounts putting him on ignore. This is the problem with predictions. Own up to them if you're wrong. Iwog didn't and ran away. I might eat shit on the Bud Light prediction that it will eventually rebound during the summer. So what? I'll be here. I've lost coin flips and didn't go running to mommy or daddy.
Logan isn't posting on this site anymore. He never changed username or account as far as I can tell and I'm no here 300 days a year at least. He's also a mortgage broker. Of course he's going to give you shit as a renter. He can't make money off you. And that fine. He has intelligent things to say about the market in owning. Renting works for you and you've made valid points.
You sometimes seem offended to be called a renter, yet brag about renting and trash homeowners/debtors. You can slice a pizza into squares or triangles. Guess what, it's still pizza or a roof over your head. It's all about situation and not about how you get into a home. I prefer buying, but I don't look down on renters. I get a hint of jealousy from renters though. I've lost friends over our success as a family. Jealousy is a bitch. If you like renting that's you. Maybe some owners are in over their heads and are jealous of your situation.
Life is jealousy I'm learning. The key is not focusing on what other people are doing or saying. Do what's best for you and your family. Which I think you probably are not knowing you. It's ripped apart my entire wife's side of the family. I'll brag here to an extent, but I'm humble in person unless you piss me off. I like having a housing thread active again. If you want to rent you can learn from the owners and owners can learn from the renters mindset. I think that's good. It's not an argument really. Neither is better unless you make a dumb ass decision.
Logan has the record for ignores.
That was likely Iwog and his alt accounts putting him on ignore. This is the problem with predictions. Own up to them if you're wrong. Iwog didn't and ran away. I might eat shit on the Bud Light prediction that it will eventually rebound during the summer. So what? I'll be here. I've lost coin flips and didn't go running to mommy or daddy.
Logan isn't posting on this site anymore. He never changed username or account as far as I can tell and I'm no here 300 days a year at least. He's also a mortgage broker. Of course he's going to give you shit as a renter. He can't make money off you. And that fine. He has intelligent things to say about the market in owning. Renting works for you and you've made valid points.
You sometimes seem offended to be called a renter, yet brag about renting and trash homeowners/debtors. You can slice a pizza into squares or triangles. Guess what, it's still pizza or a roof over your head. It's all about situation and not about how you get into a home. I prefer buying, but I don't look down on renters. I get a hint of jealousy from renters though. I've lost friends over our success as a family. Jealousy is a bitch. If you like renting that's you. Maybe some owners are in over their heads and are jealous of your situation.
Life is jealousy I'm learning. The key is not focusing on what other people are doing or saying. Do what's best for you and your family. Which I think you probably are not knowing you. It's ripped apart my entire wife's side of the family. I'll brag here to an extent, but I'm humble in person unless you piss me off. I like having a housing thread active again. If you want to rent you can learn from the owners and owners can learn from the renters mindset. I think that's good. It's not an argument really. Neither is better unless you make a dumb ass decision.
2357
Ceffer
2023 May 25, 10:38am
Ceffer
2023 May 25, 10:38am
WookieMan says
They are less dying than being strangled by Tavistock Fabian aristocrats in Britain destroying the country by wedging Zimbabwe farm Kommie pidgins without frontal lobes but with enormous corruption appetites into the golden geese and strangling them. In like Detroit. Detroit was the first city successfully destroyed by the Tavistock aliens. Nobody learned from the lesson.
Cities are dying. Have been for a while
They are less dying than being strangled by Tavistock Fabian aristocrats in Britain destroying the country by wedging Zimbabwe farm Kommie pidgins without frontal lobes but with enormous corruption appetites into the golden geese and strangling them. In like Detroit. Detroit was the first city successfully destroyed by the Tavistock aliens. Nobody learned from the lesson.
2358
zzyzzx
2023 May 25, 11:22am
zzyzzx
2023 May 25, 11:22am
https://www.cbsnews.com/news/homebuying-spring-gallup-poll-housing-market/
More Americans than ever are repelled by rising home prices
A recent Gallup poll of about 1,000 U.S. adults found that just 21% of respondents believe now is a good time to buy a house. That's the fewest ever since Gallup started taking the poll in 1978.
More Americans than ever are repelled by rising home prices
A recent Gallup poll of about 1,000 U.S. adults found that just 21% of respondents believe now is a good time to buy a house. That's the fewest ever since Gallup started taking the poll in 1978.
2359
GNL
2023 May 25, 12:01pm
GNL
2023 May 25, 12:01pm
Bitcoiner says
Are you sure you're not making assumptions? Did they tell you it's because of jealousy?
Wookie,
“ I've lost friends over our success as a family. Jealousy is a bitch.”
This!
Same here. It’s sad. I have also lost friends and even family members due to their jealousy. Jealousy is a huge driving force. It makes people do unimaginable things. Jealousy can reveal a few evil traits in people that you wouldn’t have known/seen otherwise.
Are you sure you're not making assumptions? Did they tell you it's because of jealousy?
2360
HeadSet
2023 May 25, 1:18pm
HeadSet
2023 May 25, 1:18pm
GNL says
Yes, for example, I know a girl who busts her butt to make $1,000 per week. Then finds out her brother gets disability from SS and VA that combines to over $1,000 per week tax free despite being able to work just fine. The resentment is not really jealousy, but a sense of unfairness.
Are you sure you're not making assumptions? Did they tell you it's because of jealousy?
Yes, for example, I know a girl who busts her butt to make $1,000 per week. Then finds out her brother gets disability from SS and VA that combines to over $1,000 per week tax free despite being able to work just fine. The resentment is not really jealousy, but a sense of unfairness.
2361
GNL
2023 May 25, 1:27pm
GNL
2023 May 25, 1:27pm
HeadSet says
How could anyone not have a sense of unfairness to that?
GNL says
Are you sure you're not making assumptions? Did they tell you it's because of jealousy?
Yes, for example, I know a girl who busts her butt to make $1,000 per week. Then finds out her brother gets disability from SS and VA that combines to over $1,000 per week tax free despite being able to work just fine. The resentment is not really jealousy, but a sense of unfairness.
How could anyone not have a sense of unfairness to that?
2362
HeadSet
2023 May 25, 1:34pm
HeadSet
2023 May 25, 1:34pm
GNL says
How about this - a girl from a working-class family in her early 20s is working a full-time job and going to college. She has to both pay and find time to do the homework and study. In her classes are girls who are single mothers who do not work and have the college costs covered by welfare. Even daycare is provided.
How could anyone not have a sense of unfairness to that?
How about this - a girl from a working-class family in her early 20s is working a full-time job and going to college. She has to both pay and find time to do the homework and study. In her classes are girls who are single mothers who do not work and have the college costs covered by welfare. Even daycare is provided.
2363
GNL
2023 May 25, 2:02pm
GNL
2023 May 25, 2:02pm
HeadSet says
What is a Sense of rage, Alex? Cannot let it derail you though. BUT, surely unfair to the core.
How about this, for Eman and Bitcoiner...a ghetto rat gets first dibs on a sweet real estate deal with taxpayer money. AND, if the investment turns sour, the taxpayer bails them out. This, in turn, requires the city to increase taxes on real estate investors.
GNL says
How could anyone not have a sense of unfairness to that?
How about this - a girl from a working-class family in her early 20s is working a full-time job and going to college. She has to both pay and find time to do the homework and study. In her classes are girls who are single mothers who do not work and have the college costs covered by welfare. Even daycare is provided.
What is a Sense of rage, Alex? Cannot let it derail you though. BUT, surely unfair to the core.
How about this, for Eman and Bitcoiner...a ghetto rat gets first dibs on a sweet real estate deal with taxpayer money. AND, if the investment turns sour, the taxpayer bails them out. This, in turn, requires the city to increase taxes on real estate investors.
2364
GNL
2023 May 25, 2:06pm
GNL
2023 May 25, 2:06pm
Bitcoiner says
It is an assumption because you do not KNOW. Some people become quite arrogant when they achieve success. I would not doubt you many be one of them since you spend so much time here boasting about how successful you are. Why are you doing that? No friends to spend time with?
Yes, 100% sure it’s not an assumption. Their change in behavior is tied to specific events like us buying a new car, going on a nice vacation or buying houses. And, no, a jealous person would never admit this to you. Lol.
You must have not experienced this before.
When I tell specific fiends or family that we bought a house or a rental, those that are wealthy are the ones that congratulate you and seem happy for you. Many of those that dont own anything are the ones that can’t be happy for you. (some text omitted to shorten quote...) cess story and they look miserable and shortly after you feel the backlash (evil things like not inviting you anymore to family events, trying to exclude you, gossiping about you, trying to always get into arguments or trying to provoke you, making up false stories about you etc).
We were very poor when we got married. Now we are doing well. Some people in your inner circle are left behind and struggle financially. Often the jealousy is very apparent between siblings or people you grew up with.
It is an assumption because you do not KNOW. Some people become quite arrogant when they achieve success. I would not doubt you many be one of them since you spend so much time here boasting about how successful you are. Why are you doing that? No friends to spend time with?
2365
Eman
2023 May 25, 2:51pm
Eman
2023 May 25, 2:51pm
GNL says
@GNL,
For flips, I’d prefer 50% to max 60% ARV (after repaired value) when I buy.
For buy-and-pray, I don’t mind paying 3 to 4 cap rate although the market is trading at 5. If I can achieve 7 to 8 cap (stabilized) in 5-7 years, it’s a go. On great properties, I’d take 6 cap after stabilized because I know I can sell it for 4 cap.
Bitcoiner
What's your "math" for deciding if a property is a good investment? I assume you have different math for flips vs rentals.
@GNL,
For flips, I’d prefer 50% to max 60% ARV (after repaired value) when I buy.
For buy-and-pray, I don’t mind paying 3 to 4 cap rate although the market is trading at 5. If I can achieve 7 to 8 cap (stabilized) in 5-7 years, it’s a go. On great properties, I’d take 6 cap after stabilized because I know I can sell it for 4 cap.
2366
Eman
2023 May 25, 2:57pm
Eman
2023 May 25, 2:57pm
GNL says
Only the city of Berkeley and SF lunatic politicians would think of this stuff IMO. No one in their right mind would.
How about this, for Eman and Bitcoiner...a ghetto rat gets first dibs on a sweet real estate deal with taxpayer money. AND, if the investment turns sour, the taxpayer bails them out. This, in turn, requires the city to increase taxes on real estate investors.
Only the city of Berkeley and SF lunatic politicians would think of this stuff IMO. No one in their right mind would.
2367
Eman
2023 May 25, 3:03pm
Eman
2023 May 25, 3:03pm
Bitcoiner says
Buying SFH with 25% down at break even or slightly negative cash flow was preached by the veterans in the Bay Area and SoCal. Rent and asset value increase with time. Time will do all the heavy lifting. When you’re retired, you’d have $1M in equity on each property.
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
You should ask EMAN this, he’s the pro.
I haven’t done flips.
My rentals: that’s pretty straightforward. There’s a lot of fancy metrics you may apply but bottom line for me is:
I focus on detached SFH. Decent to good area. If it’s not an established known good area then it needs to have up and coming potential. PITI + safety cushion + hoa + property manager needs to be covered by rent with a 25% downpayment. It’s a long term play for me. I don’t mind (some text omitted to shorten quote...) nd your equity in the house and your rental income increases yearly. I asked a realtor friend who also owns the PM company to show me how his clients are doing. Most investors he works with put down significantly more than 25%. Instead of buying two rentals and stretching yourself you could just buy one and be on the conservative side. Slow and steady wins the race is my philosophy in real estate. Always have cash on the sidelines for a rainy day. Time and inflation is on your side.
Buying SFH with 25% down at break even or slightly negative cash flow was preached by the veterans in the Bay Area and SoCal. Rent and asset value increase with time. Time will do all the heavy lifting. When you’re retired, you’d have $1M in equity on each property.
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
2368
Eman
2023 May 25, 3:10pm
Eman
2023 May 25, 3:10pm
GNL says
Success is relative. My biz partner is worth $24M, and he thinks he’s middle class. He made his millions by selling his startup company at the age of 30. He’s 53 now.
My neighbor household income is well north of $500k/year. They own 20 rentals and they think they’re middle class. It’s like WTF?
Share knowledge and pay it forward is how we do it in real estate. The most amazing thing I’ve witnessed is that real estate billionaires are some of the nicest people I’ve ever met. The assholes are the ones who think they’re rich.
It is an assumption because you do not KNOW. Some people become quite arrogant when they achieve success. I would not doubt you many be one of them since you spend so much time here boasting about how successful you are. Why are you doing that? No friends to spend time with?
Success is relative. My biz partner is worth $24M, and he thinks he’s middle class. He made his millions by selling his startup company at the age of 30. He’s 53 now.
My neighbor household income is well north of $500k/year. They own 20 rentals and they think they’re middle class. It’s like WTF?
Share knowledge and pay it forward is how we do it in real estate. The most amazing thing I’ve witnessed is that real estate billionaires are some of the nicest people I’ve ever met. The assholes are the ones who think they’re rich.
2369
mell
2023 May 25, 3:10pm
Eman says
Have been thinking about this so often, I was able to get a 3 year 0% covid loan which was great, but really the idea of having to keep the money in by force or threat of penalty doesn't sit well with me, a free society shouldn't need this crap. It's just for people who can't manage their money, but in the end it makes everyone poorer. I'd abolish any such 401k "plans" that have penalties and restriction, everything should work like a roth at the minimum and be acessible.
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
Have been thinking about this so often, I was able to get a 3 year 0% covid loan which was great, but really the idea of having to keep the money in by force or threat of penalty doesn't sit well with me, a free society shouldn't need this crap. It's just for people who can't manage their money, but in the end it makes everyone poorer. I'd abolish any such 401k "plans" that have penalties and restriction, everything should work like a roth at the minimum and be acessible.
2370
Eman
2023 May 25, 3:14pm
Eman
2023 May 25, 3:14pm
Just got this in my inbox. Existing 5.7 cap with 7% stabilized. It’s not in my farm so I don’t bother to look into it.
2371
WookieMan
2023 May 25, 3:37pm
WookieMan
2023 May 25, 3:37pm
Eman says
Tread lightly with this advice. Government, banks, etc. can't touch those assets. I wouldn't liquidate them ever unless you needed that cash to live. Risky move. Glad it worked out, but I wouldn't put this out as advice to get into RE. Which I understand the emoji. It was a stupid move and you lucked out and you know it. Keep assets protected and you can do what you want.
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
Tread lightly with this advice. Government, banks, etc. can't touch those assets. I wouldn't liquidate them ever unless you needed that cash to live. Risky move. Glad it worked out, but I wouldn't put this out as advice to get into RE. Which I understand the emoji. It was a stupid move and you lucked out and you know it. Keep assets protected and you can do what you want.
2372
Eman
2023 May 25, 3:47pm
Eman
2023 May 25, 3:47pm
WookieMan says
Not advice. I made a bet, and it worked out for me. I encountered a few individuals on BiggerPockets who did the same move. None regretted it. In fact, they all were happy they did it.
You and I likely don’t agree on this, but I’ve viewed IRA as live less now so we can live less later. I’d rather live more now so I can live more later. Put enough money in 401k to get the max company match and not a penny more. Other than that, I don’t give a damn about retirement account/plan. I think it was designed so money manager can charge fees for doing nothing. It’s like a lifetime annuity for them.
We don’t have a 529 plan for our daughter. I’d rather put that money in real estate, use the cash flow to pay for her college tuition. Once she’s done with college, we still have the cash flow for decades to come.
Eman says
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
Tread lightly with this advice. Government, banks, etc. can't touch those assets. I wouldn't liquidate them ever unless you needed that cash to live. Risky move. Glad it worked out, but I wouldn't put this out as advice to get into RE. Which I understand the emoji. It was a stupid move and you lucked out and you know it. Keep assets protected and you can do what you want.
Not advice. I made a bet, and it worked out for me. I encountered a few individuals on BiggerPockets who did the same move. None regretted it. In fact, they all were happy they did it.
You and I likely don’t agree on this, but I’ve viewed IRA as live less now so we can live less later. I’d rather live more now so I can live more later. Put enough money in 401k to get the max company match and not a penny more. Other than that, I don’t give a damn about retirement account/plan. I think it was designed so money manager can charge fees for doing nothing. It’s like a lifetime annuity for them.
We don’t have a 529 plan for our daughter. I’d rather put that money in real estate, use the cash flow to pay for her college tuition. Once she’s done with college, we still have the cash flow for decades to come.
2373
Eric Holder
2023 May 25, 6:12pm
Eric Holder
2023 May 25, 6:12pm
Eman says
Looks like one needs an AK-47 if he wants to go collect past due rent there...
https://www.redfin.com/CA/Hayward/26485-Gading-Rd-94544/home/1752162
Just got this in my inbox. Existing 5.7 cap with 7% stabilized. It’s not in my farm so I don’t bother to look into it.
Looks like one needs an AK-47 if he wants to go collect past due rent there...
https://www.redfin.com/CA/Hayward/26485-Gading-Rd-94544/home/1752162
2374
B.A.C.A.H.
2023 May 25, 6:41pm
B.A.C.A.H.
2023 May 25, 6:41pm
mell says
Yeah.
Now that I'm retired and living off those types of accounts, it made me feel stupid. Because nearly all the growth of those was long term capital gains, and dividends, which on the federal return are taxed at a lower rate than ordinary income. But the retirement account withdrawals are taxed as ordinary income.
Makes me feel stupid.
Eman says
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012. 😬
Have been thinking about this so often, I was able to get a 3 year 0% covid loan which was great, but really the idea of having to keep the money in by force or threat of penalty doesn't sit well with me, a free society shouldn't need this crap. It's just for people who can't manage their money, but in the end it makes everyone poorer. I'd abolish any such 401k "plans" that have penalties and restriction, everything should work like a roth at the minimum and be acessible.
Yeah.
Now that I'm retired and living off those types of accounts, it made me feel stupid. Because nearly all the growth of those was long term capital gains, and dividends, which on the federal return are taxed at a lower rate than ordinary income. But the retirement account withdrawals are taxed as ordinary income.
Makes me feel stupid.
2375
REpro
2023 May 25, 7:23pm
REpro
2023 May 25, 7:23pm
Looks like one needs an AK-47 if he wants to go collect past due rent there...
https://www.redfin.com/CA/Hayward/26485-Gading-Rd-94544/home/1752162
Don't exaggerate, is not bad location. Glock 9 mm will be sufficient for surely.
5 unit is step up in expense to finance than 4 unit.
https://www.redfin.com/CA/Hayward/26485-Gading-Rd-94544/home/1752162
Don't exaggerate, is not bad location. Glock 9 mm will be sufficient for surely.
5 unit is step up in expense to finance than 4 unit.
2376
B.A.C.A.H.
2023 May 25, 7:34pm
B.A.C.A.H.
2023 May 25, 7:34pm
The type of person who would want to be a tenant there is not the type of person who I'd want to know I'm the landlord.
2377
Eman
2023 May 25, 7:36pm
Eman
2023 May 25, 7:36pm
Eric Holder says
Not my farm so I can’t comment on its location. Just like anything in life, have to kiss a lot of frogs before I find my princess. Good deals rarely make it to the market.
One thing I’ve learned is that there are more wear and tear on lower end properties. Everything in life has a price. There’s a reason why something is cheap and not selling.
Eman says
Just got this in my inbox. Existing 5.7 cap with 7% stabilized. It’s not in my farm so I don’t bother to look into it.
Looks like one needs an AK-47 if he wants to go collect past due rent there...
https://www.redfin.com/CA/Hayward/26485-Gading-Rd-94544/home/1752162
Not my farm so I can’t comment on its location. Just like anything in life, have to kiss a lot of frogs before I find my princess. Good deals rarely make it to the market.
One thing I’ve learned is that there are more wear and tear on lower end properties. Everything in life has a price. There’s a reason why something is cheap and not selling.
2378
GNL
2023 May 25, 7:56pm
GNL
2023 May 25, 7:56pm
Eman says
Yeah, seems like a big risk...at the time. What convinced you to throw all your chips on the table at that time?
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012.
Yeah, seems like a big risk...at the time. What convinced you to throw all your chips on the table at that time?
2379
GNL
2023 May 25, 7:59pm
GNL
2023 May 25, 7:59pm
Eman says
I have no problem with you or Bitcoiner. However, I do stand by my comment about adding to the economy. Rent seeking (no just in RE) is an extraction moreso than an addition imo.
The assholes are the ones who think they’re rich.
I have no problem with you or Bitcoiner. However, I do stand by my comment about adding to the economy. Rent seeking (no just in RE) is an extraction moreso than an addition imo.
2380
AD
2023 May 25, 8:23pm
AD
2023 May 25, 8:23pm
B.A.C.A.H. says
yeah, that is why i try to get my family and friends to maximize their roth ira contributions
But the retirement account withdrawals are taxed as ordinary income.
yeah, that is why i try to get my family and friends to maximize their roth ira contributions
2381
Eman
2023 May 25, 8:30pm
Eman
2023 May 25, 8:30pm
GNL says
Historical data. I did a ton of research and was convinced it was a once in a lifetime opportunity for real estate. Everything was on 🔥 sale. I quit my W2 and plowed into real estate full-time. On deals I couldn’t close b/c I ran out of cash, which wasn’t much, I brought on partners. 50% of something is better than 100% of nothing. Or passed them to family members.
Ironically, I only saw upside and didn’t see much downside (risk) based on the numbers. Turned out, my estimated numbers were way too conservative.
My buddy bought this building in my farm 1.5 years ago. His rent roll has gone up 15%. He works for the Federal Reserve and has a pension. Rent seeking or not, he also gets a pension. Is pension also a form of rent seeking? 🤑
https://redf.in/ckKM1z
Eman says
I cashed out my IRA, paid the taxes and penalty, and used the money to buy real estate between 2009-2012.
Yeah, seems like a big risk...at the time. What convinced you to throw all your chips on the table at that time?
Historical data. I did a ton of research and was convinced it was a once in a lifetime opportunity for real estate. Everything was on 🔥 sale. I quit my W2 and plowed into real estate full-time. On deals I couldn’t close b/c I ran out of cash, which wasn’t much, I brought on partners. 50% of something is better than 100% of nothing. Or passed them to family members.
Ironically, I only saw upside and didn’t see much downside (risk) based on the numbers. Turned out, my estimated numbers were way too conservative.
My buddy bought this building in my farm 1.5 years ago. His rent roll has gone up 15%. He works for the Federal Reserve and has a pension. Rent seeking or not, he also gets a pension. Is pension also a form of rent seeking? 🤑
https://redf.in/ckKM1z
2382
Eman
2023 May 25, 8:42pm
Eman
2023 May 25, 8:42pm
GNL says
Real estate is a means to an end. We’re all only on this earth for a short amount of time. I want my stay here as enjoyable as possible. I want to have control of my time so I can spend it however I want. Since HS, I knew I didn’t want to work for others. Working for others is also a means to an end. This was why I didn’t last very long in my W2 career.
Rent seeking or not, this is only a start. My goal is a lot bigger, but I’m doing it at my own time. No deadline and no one tells me what to do. If/when I die and I haven’t reach my goal, it is what it is. No need to work myself to death to get there sooner. I want the journey to my destination as enjoyable as possible so I don’t mind if others disagree with the way I make my money. It’s all good. We can agree to disagree.
Eman says
The assholes are the ones who think they’re rich.
I have no problem with you or Bitcoiner. However, I do stand by my comment about adding to the economy. Rent seeking (no just in RE) is an extraction moreso than an addition imo.
Real estate is a means to an end. We’re all only on this earth for a short amount of time. I want my stay here as enjoyable as possible. I want to have control of my time so I can spend it however I want. Since HS, I knew I didn’t want to work for others. Working for others is also a means to an end. This was why I didn’t last very long in my W2 career.
Rent seeking or not, this is only a start. My goal is a lot bigger, but I’m doing it at my own time. No deadline and no one tells me what to do. If/when I die and I haven’t reach my goal, it is what it is. No need to work myself to death to get there sooner. I want the journey to my destination as enjoyable as possible so I don’t mind if others disagree with the way I make my money. It’s all good. We can agree to disagree.
2383
Eman
2023 May 25, 8:48pm
Eman
2023 May 25, 8:48pm
My other friend bought this building in our other farm. This is by San Jose Japantown. We offered the seller $2.7M in 2017, but he insisted on getting $3M for it. So I passed it to my friend, who bought it for $2.95M.
Last year, they refinanced and got 50% of their money back. Husband works for GOOG for 17 years. Wife for for FTNT. High income earners.
My partner and I own 24 units in this neighborhood. Paid $5.04M. Appraised for $7.5M last year when we refinanced.
https://www.zillow.com/homedetails/589-N-3rd-St-APT-04-San-Jose-CA-95112/2092967938_zpid/
Last year, they refinanced and got 50% of their money back. Husband works for GOOG for 17 years. Wife for for FTNT. High income earners.
My partner and I own 24 units in this neighborhood. Paid $5.04M. Appraised for $7.5M last year when we refinanced.
https://www.zillow.com/homedetails/589-N-3rd-St-APT-04-San-Jose-CA-95112/2092967938_zpid/
2384
Onvacation
2023 May 25, 9:13pm
Onvacation
2023 May 25, 9:13pm
Eric Holder says
Belt fed or dead! You have to outgun the locals to get street cred.
Looks like one needs an AK-47 if he wants to go collect past due rent there...
Belt fed or dead! You have to outgun the locals to get street cred.
2385
GNL
2023 May 25, 10:14pm
GNL
2023 May 25, 10:14pm
Eman says
Yes, especially when it is paid by people that never had a vote or choice in said pension. The grifting is aplenty. The government has had to cover how many pension funds? I think they even have a federal pension guarantee fund or something? Haha, did I hear uncle Sam (you and I) are paying Ukraine's pensions?
Rent seeking or not, he also gets a pension. Is pension also a form of rent seeking?
Yes, especially when it is paid by people that never had a vote or choice in said pension. The grifting is aplenty. The government has had to cover how many pension funds? I think they even have a federal pension guarantee fund or something? Haha, did I hear uncle Sam (you and I) are paying Ukraine's pensions?
2386
HeadSet
2023 May 26, 6:01am
HeadSet
2023 May 26, 6:01am
GNL says
Nope, just you are paying. Everyone else is on their own government pension. (If you researched how many people are collecting gov pension/disability/grants you may find this joke closer to the truth than you like).
Haha, did I hear uncle Sam (you and I) are paying Ukraine's pensions?
Nope, just you are paying. Everyone else is on their own government pension. (If you researched how many people are collecting gov pension/disability/grants you may find this joke closer to the truth than you like).
2387
GNL
2023 May 26, 7:11am
GNL
2023 May 26, 7:11am
HeadSet says
You're not paying through inflation?
GNL says
Haha, did I hear uncle Sam (you and I) are paying Ukraine's pensions?
Nope, just you are paying. Everyone else is on their own government pension. (If you researched how many people are collecting gov pension/disability/grants you may find this joke closer to the truth than you like).
You're not paying through inflation?
2388
GNL
2023 May 26, 7:43am
GNL
2023 May 26, 7:43am
@Eman, I would agree with anyone who would suggest I spend too much time being unhappy about the current American system(?). I'll live my life trying to add and/or improve what I see around me. The financial system and incentives are, imo, exploitive but, I would imagine that's with any system. I pride myself in making money while improving other people's lives.
2389
GNL
2023 May 26, 7:46am
GNL
2023 May 26, 7:46am
What is anyone's opinion, here, on how Soros has achieved his financial position? We are financializing everything. Carbon credits anyone? If a thing can be done, it should be done?
Just some thoughts.
Just some thoughts.
2390
GNL
2023 May 26, 7:50am
GNL
2023 May 26, 7:50am
Some unsolicited advice: be careful how you "think" you are helping your family. I'm sure almost everyone can attest to the horrible results $$ has had on friends and loved ones. My son in law is part of a family that owns about a billion dollars worth of real estate. My 2 grandkids already own part of the family REIT. I am quite worried how they will end up. Seriously.
2391
1337irr
2023 May 26, 7:55am
1337irr
2023 May 26, 7:55am
GNL says
Wealth can be destroyed in a generation or less. Assets that produce cash flow can be sold by people who don't know what they are doing but just inherited the estate.
Some unsolicited advice: be careful how you "think" you are helping your family. I'm sure almost everyone can attest to the horrible results $$ has had on friends and loved ones. My son in law is part of a family that owns about a billion dollars worth of real estate. My 2 grandkids already own part of the family REIT. I am quite worried how they will end up. Seriously.
Wealth can be destroyed in a generation or less. Assets that produce cash flow can be sold by people who don't know what they are doing but just inherited the estate.
2393
fdhfoiehfeoi
2023 May 26, 8:53am
fdhfoiehfeoi
2023 May 26, 8:53am
Bitcoiner says
That account only goes back a few more years. Interesting that when I search Logan and try to click on his user name, I'm not directed to his account page. I guess it's been wiped? Would like to correlate Logan's last known account with yours, I still think it's you Logan. But no matter which version, we still see through you.
You know who else is on TV, Biden. Fauci too. You wanna impress me, start an independent news site. TV is for entertainment and brainwashing, guess which one is Logan...
Yeah, starting a new account and using “Bitcoiner” instead of my previous name “bitcoin” is pretending to be someone else. I even used the same profile pic. LOL, thank you for the laugh.
That account only goes back a few more years. Interesting that when I search Logan and try to click on his user name, I'm not directed to his account page. I guess it's been wiped? Would like to correlate Logan's last known account with yours, I still think it's you Logan. But no matter which version, we still see through you.
You know who else is on TV, Biden. Fauci too. You wanna impress me, start an independent news site. TV is for entertainment and brainwashing, guess which one is Logan...
2394
GNL
2023 May 26, 9:06am
GNL
2023 May 26, 9:06am
RWSGFY says
Yeah, ok.
GNL says
Eman says
Rent seeking or not, he also gets a pension. Is pension also a form of rent seeking?
Haha, did I hear uncle Sam (you and I) are paying Ukraine's pensions?
No, they are being paid from the $350B in Soviet assets.
Yeah, ok.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.