patrick.net

GNL says

Eman, you are 100% correct though...we all have to make do with what we have + our abilities + our motivations. Government though, is definitely a problem. No one can deny this, correct?

This reminds me of what Rand Paul said:

Eman says

AD,

It’s interesting you mention you have a big mouth. May I ask are you an introvert in real life?

I'm more obnoxious in real life. So the answer is an obvious no.

Maybe I was slightly more restrained and quiet going back 20 years but as I have reached financial independence, I've enjoyed being a lot more vocal and insulting to the right kind of people.
.

Eman says

Rather than doing something to rectify the findings and results…like contacting the author, you whine and bitch about it. How will that change the outcome, or improve anything?

What do you want to do ? Go knock down the door of the soy boy author and give him a Soprano-style beat down ?

The Patnet community or space is exactly meant as a "bitch and whine" forum.

The Patnet "foundation of freedoms" is inclusive of whining, bitching and well-earned insulting.

Its in same context as Biden "freedoms" including freedom from personal responsibility such as freedom to not be held accountable for student loan debt.

.

AD says

Eman says

AD,

It’s interesting you mention you have a big mouth. May I ask are you an introvert in real life?

I'm more obnoxious in real life. So the answer is an obvious no.

Maybe I was slightly more restrained and quiet going back 20 years but as I have reached financial independence, I've enjoyed being a lot more vocal and insulting to the right kind of people.
.

The reason I asked because someone else is also quite vocal on this forum, but said he’s an introvert in real life. I just want to see if there’s a pattern. That’s all.

I’ve noticed it too. The sentiment/energy on this forum has been quite negative. I intentionally share posts to provoke people view things from a different angle/POV. It hasn’t been working….Sigh.

Given I’m a positive, yes you can, type of individual (thanks to my dad), I’ve been thinking of leaving Patnet and focus my time on something more positive and constructive. I did it before and joined Biggerpockets when Patnet got away from being a Housing Bubble forum. Maybe it’s time to do it again.

As a going away present, you asked for my net worth previously. It’s currently in the 8 figures. Getting to 9 figures seems achievable to me, but I’m shooting for 10. When I quit my W2, my supervisor said “___, I want to see you on the Forbes Fortune 100 list one of these days.” I had lunch with him a couple weeks ago and reminded him that I still remember what he said. Others can see our potential, but they don’t tell us. Why is that?

This was the convo I had with my besties last month. We encourage and push each other to achieve higher. It’s not about flashing anything with anyone. He’s a millennial so he has more time on his side.

Best of luck if we don’t chat again.

Cheers!



If anyone happens to live in Morrisville, NC and meet or know my real estate mentor, he can tell you what kind of guy I’m in real life.

GNL says

Would you let your 3rd and 4th grader run the neighborhood without you knowing where they were? Including a few blocks away at friends homes that your parents don't know? We did this and it wasn't weird at all.

We 1,000% do. We're in town, but it's just a little downtown strip and 800 homes. The true country kids bring their bikes into town and hang out all day and just go to random in town friends houses. I let my 5th grader drive around the golf cart illegally but I know the cops. Came home yesterday to two kids we know just hanging out with my kids. Whatever.

Recently just had an event and left the kids home alone. Oldest is 13 and then 12 and 10. It's amazing. They're not idiots. I'm strict, but not abusive. My kids know not to fuck up. Have a few friends that are way too soft on their kids and let them do stupid shit. The 13 year old wants a legit job, but can't until 14.

I'm still old school. My parents had a condo in Florida and would spend two weeks there and my sister and I would be home alone. My one buddy his parents moved to Wisconsin and kept the home so he could finish high school. We had some extremely good times. For good or bad.

As a parent I worry more about creepy adults. When the wife travels I'll shoot the shit with the kids for 2 hours telling stories, but also making sure they're being aware. Our town is too chill though, so not overly worried. We let them run around on their own on cruise ships now and resorts.

I think it's indoctrination of women/moms more than anything. My wife is hot, but she'd identify more a man mentality if I'm being honest. Tiger mom. She doesn't like other women generally unless they're producers so to speak business wise. So that tends to be men and highly successful females. I sought out women that would be successful.

Tangent aside, get out of cities and big suburbs. We exist still where we let our kids do shit and trust them. Came home yesterday and had no clue where my nephew was. I didn't care. I care about him, but I trust him because of the years we've had with him. You fuck up I will chew your ass out. They know that. Again not physical. Suburban moms are the worst though.

Point being we still have communities where kids can have fun if behaving.

We just moved out (south) of McLean/Tysons Corner area of Northern Virginia. We like it much better here but still not far enough out. Pretty soon, we should be able to live anywhere. With some luck and more transactions/listings, the business will not need me to be close to anyone or anything I don't want to be close to.

Eman says

I’ve noticed it too. The sentiment/energy on this forum has been quite negative. I intentionally share posts to provoke people view things from a different angle/POV. It hasn’t been working….Sigh.

I actually don't think it has been negative here. I think most are just posting facts. I do very well. Sounds like you do too. The difference it 80-90% of the country isn't. I can't control it, but we point it out. Is it negative to point out others doing bad and needing a boost? Sure. Can't fix it if we don't talk about it though.

We literally have a POTUS that has dementia. We have massive issues we're involved with in Ukraine and Isreal/Gaza. Your state literally has shit on the streets in cities. More people died in Chicago than Afghanistan and Iraq combined during the same time period. State pension debt is unsustainable almost everywhere. Watch a House or Senate committee hearing and tell me you think we have intelligent leadership.

I don't mind different points of view, but talking about things like a car is senseless when there are actual facts about it that you're wrong on. It's not negative. Talking about real estate deals with no evidence. I've been on Bigger Pockets. Everyone puffs and lies. I've worked with investors that have 2k apartment units in Chicago. They're broke. Are they smart, yes to an extent. But they over leverage and it's all paper money until they actually sell.

Your 9 figures are fine, but you're in CA... That's like making 6 figures in Schaumburg, IL. I get people wouldn't aspire to move to IL, but you're living on a different planet than 90% of the country. I'm being sincere when I say I'm glad you do well. But you are so blind to what this country really is. That's why I've asked where you've traveled. I've been to all the lower 48. All the major cities for the most part. I'll be in Florida in two weeks for 8 days. Was just in Montana and Florida in January. Wife was just in Costa Rica.

If you haven't traveled the US fully, your opinion is California centric. Basically wrong outside of your bubble. It's not negative, you just don't know better. I'm trying to sneak a trip to Palm Spring in. Conference for the wife and I don't want to deal with that shit and it's a $12 flight. I'd drive north and meet up with patnet people and just do my own solo trip. I'm willing to sit down with anyone and have a conversation as text is sometimes misconstrued.

I do swear a lot though. So if that offends I'm gonna piss anyone off. Don't leave the site though Eman. Good with the bad. Sometimes you have to take some heat. Negative. It makes you think. Maybe I didn't have it right? Always be questioning. Have opinions.

Marie Antoinette (attributed...historians are not sure she actually said this, but still)

"Let them eat cake"

Eman and socal2 (either did say this or this is the message they convey nonetheless)

"Let them buy Teslas"

Same sentiment. Queen Antionette (supposedly) said it because she lived in an outrught bubble where she thought the peasants could also eat cake in order to feel better when upset like she could.

California libtards are the exact same way...you can see it in how they react when 'the Deplorables' revolt against their brain dead woke shit.

Two different planets.

Hey everyone! What eventually became of Queen Antionette?

(This is where I fully expect to see some Libtard respond with "But at least the guillotine wasn't powered by coal or nuclear!". If not here, then definitely if this was on X.)

UkraineIsTotallyFucked says

"Let them eat cake"

There is gloating and its intentional and not subconscious psyche.

California has to have enough economic growth and deep pocket foreigners buying up real estate for it to be at least 80% sustainable.

It could have a gradual decay if there is major disruption like work from home, and companies deciding its better to completely relocate to another state.

That is more likely than say all of the military industrial complex (Commanders and Colonels Incorporate (CACI), SAIC, Booz Allen, General Dynamics, etc.) and the Pentagon packing bags for Topeka or Omaha.

Give Crystal City and Pentagon City to Amazon.

.

Eman says

Best of luck if we don’t chat again.

Yeah you took some chances and got well beyond what Bob Brinker calls "critical mass".

You lucky you don't have to continue to slug it and work in that Architecture and Engineering rat race.

Look at Patrick's book as far as how-to-avoid-the-housing-trap as far as his firsthand experiences.

Why don't you write a how-to book about how you became rich ? You have said you came to Patnet to promote optimism and the entrepreneur spirit.

A book, even if it is a 99 cent electronic book on Amazon and less than 50 pages, can have a lot more positive impact.

.

AD says

Give Crystal City and Pentagon City to Amazon.

I've never understood why Amazon wants to be that close to town.

zzyzzx says

AD says

Give Crystal City and Pentagon City to Amazon.

I've never understood why Amazon wants to be that close to town.

I will guess why, and it has to do in part being neighbors with its regulators, and also to be nearly a neighbor to a three letter alphabet agency that starts with C.

.

But...but the Interest Rates Experts on PatNet told me...

Higher Forever? Even Yellen Starts to Get it: Higher Inflation & Higher Yields Are Here to Stay

The White House budget proposal projected that the 10-year yield would average 4.4% in 2024, up from its year-ago projection for 2024 of 3.6%, and up from the average in the decade before the pandemic of 2.4%.

And it projected the 10-year yield to average 4% in 2025 and to 3.7% in 2029!

The budget proposal also projects that the 3-month yield will average 5.1% in 2024 (it’s at 5.48% today). A year ago, the White House projected that it would average 3.8% in 2024.

And that 5.1% projection might have come out even higher if Lael Brainard, director of the National Economic Council, hadn’t intervened, according to Bloomberg’s sources.

In other words, given the new reality of inflation, both short and long-term yield projections got ratcheted upward substantially over the past year.

https://wolfstreet.com/2024/03/13/higher-forever-even-yellen-starts-to-get-it-the-low-yields-before-covid-are-over-higher-inflation-higher-yields-are-here-to-stay/

Eman says

The reason I asked because someone else is also quite vocal on this forum, but said he’s an introvert in real life. I just want to see if there’s a pattern. That’s all.

I’ve noticed it too. The sentiment/energy on this forum has been quite negative. I intentionally share posts to provoke people view things from a different angle/POV. It hasn’t been working….Sigh.

Dude, he started this thread to make his point.

You can start your own thread to make your point.

Or you can be (Bay-Area) Smug & Snarkey ("Smarkey") on the thread he started to try to belittle him.

B.A.C.A.H. says

Eman says

The reason I asked because someone else is also quite vocal on this forum, but said he’s an introvert in real life. I just want to see if there’s a pattern. That’s all.

I’ve noticed it too. The sentiment/energy on this forum has been quite negative. I intentionally share posts to provoke people view things from a different angle/POV. It hasn’t been working….Sigh.

Dude, he started this thread to make his point.

You can start your own thread to make your point.

Or you can be (Bay-Area) Smug & Snarkey ("Smarkey") on the thread he started to try to belittle him.

He's talking about me. Whatever. I just call things as I see them. Some may not like it, but my track record is there. Call me out. No fear of being called wrong. I will defend myself against falsehoods and bull shit though.

I honestly think I called his bluff. I don't think Eman is what he states to be. I do well, but I'm not ever going to state I'm hoping to make 9 figures. I'd be out doing things with my family and enjoying my wealth and not here. I'm off most of next week, but might do some shitter posting, probably not. I enjoy life and yes I brag about some things but not my digits.

I've noticed some holes in his bragging. But I have no intention in getting into a pissing match. Feels like the Iwog departure if he's really leaving. If you can't take the heat, get out of the kitchen. That seems to be the case.

FL State wastes hundreds of million in "Live Local Law" in tax breaks

Pasco County commissioners have found a new reason to dislike the state’s Live Local law, which was passed last year to boost the amount of affordable housing in Florida with tax breaks and other incentives.

Not only can developers put apartments on land earmarked for industry and get a big property tax break, owners of existing apartment complexes can qualify as well. While the law was sold as a solution to Florida’s housing affordability crisis, apartment owners can claim tax rebates even if they don’t offer particularly low rents.

Already, the owners of two Pasco apartment complexes have applied for the tax breaks. State records show dozens more around the state are seeking to qualify for the program, which provides a windfall for corporate property owners who have done nothing to add to the affordable housing stock.

https://www.tampabay.com/news/2024/01/24/pasco-officials-have-million-new-reasons-oppose-live-local-law/

AmericanKulak says

FL State wastes hundreds of million in "Live Local Law" in tax breaks

Most people don't know about tax breaks and government subsidies. Chicago has enterprise zones. If you build there you don't pay any sales taxes on your materials. The neighborhood we were building in before I left was $700-800K homes. That's lumber, drywall, siding, flooring, lighting, plumbing, etc. in a roughly 10% sales tax city at the time.

This developer had no clue about it and threw me some cash for the $20k savings on each house because I told him about it. Fuck... I was good at that job. I just can't deal with people for my sanity. Real estate is gay. Too many hands in the pot. It's what I did best though. Maybe there will be a version 2.0. Not sure I can go back to my current job.

WookieMan says

Real estate is gay. Too many hands in the pot.

^^^^^^^^^^^^^^^^^
This.

Looks like the real estate commission model just changed.

https://www.msn.com/en-us/money/realestate/the-1-8-billion-conspiracy-verdict-that-rocked-the-real-estate-industry-has-turned-into-a-groundbreaking-418-million-settlement/ar-BB1jXVya?ocid=msedgntp&pc=U531&cvid=57a2b6f99b6c407b8d458b75a409e55b&ei=16

Now the buyer pays for services the "Buyer's Agent" performs. The seller doesn't pay that anymore.

B.A.C.A.H. says

Or you can be (Bay-Area) Smug & Snarkey ("Smarkey") on the thread he started to try to belittle him.

Zzzzzzzzzzzzzzz

.

Misc says

Looks like the real estate commission model just changed.

https://www.msn.com/en-us/money/realestate/the-1-8-billion-conspiracy-verdict-that-rocked-the-real-estate-industry-has-turned-into-a-groundbreaking-418-million-settlement/ar-BB1jXVya?pc=U531

Now the buyer pays for services the "Buyer's Agent" performs. The seller doesn't pay that anymore.

The buyer has always paid ALL the commission and still will. They have the money to purchase. This has been a massive misnomer with RE. No one gets paid without a buyer. Commissions, attorneys, lenders, inspectors, listing agents, etc.

AmericanKulak says

FL State wastes hundreds of million in "Live Local Law" in tax breaks

Yeah I got to find a lot more about this shit: https://en.wikipedia.org/wiki/Homelessness_in_Florida#Affordable_housing

This looks like another puff piece as they always put out puff pieces for Central Panhandle Association of Realtors (CPAR):

https://www.wjhg.com/2023/04/12/live-local-act/

.

WookieMan says

The buyer has always paid ALL the commission and still will. They have the money to purchase. This has been a massive misnomer with RE. No one gets paid without a buyer. Commissions, attorneys, lenders, inspectors, listing agents, etc.

.

all about ABC
.



.

More sellers desperate in Florida…
https://www.newsweek.com/florida-house-prices-fall-homeowners-try-sell-1879096

Swfl says

More sellers desperate in Florida…
https://www.newsweek.com/florida-house-prices-fall-homeowners-try-sell-1879096

Florida has a boomers starting to die problem. Probably not enough from the north coming in any more to suck up inventory. Retirement regions could take a hit.

WookieMan says

he buyer has always paid ALL the commission and still will. They have the money to purchase. This has been a massive misnomer with RE. No one gets paid without a buyer. Commissions, attorneys, lenders, inspectors, listing agents, etc.

Many buyers don't understand this. Its as if they have been injected with mind numbing anesthesia.

I'm in Florida and the post above about "a problem" and "boomers dying" is incorrect.
The boomers are a gigantic demographic and they aren't dead yet.
The boomers with money are still flooding into Florida.

clambo says

I'm in Florida and the post above about "a problem" and "boomers dying" is incorrect.
The boomers are a gigantic demographic and they aren't dead yet.
The boomers with money are still flooding into Florida.

My parents are/were boomers. They're dying. The kids don't want to live there so they sell. They're dying faster than you think. Millennials are the biggest demo and they aren't moving into retirement housing. Florida and Arizona are going to take a slight hit. Not a crash, but the next 10-20 years as they die off is going to move housing in those areas.

First hardest hit - Cities. Millennials move out and start families en mass.
Second hardest hit - Retirement states.

Suburbs will do fine. Rural will boom. With Starlink you can literally work anywhere. Times are a changing. I'd flee from urban areas. They're going to be a crockpot of shit fuckery. There's actual shit on the streets. The city council likely have has gay anal sex at meetings. Avoid cities is all I'm gonna say. Especially this year with the election. It's gonna be bad.

.

Florida ain't "Florida" no more :-/

.



.

WookieMan says

Florida and Arizona are going to take a slight hit. Not a crash, but the next 10-20 years as they die off is going to move housing in those areas.

I wonder if that is why there has been a immigration blitz pushed by Democrats and Chamber of Commerce Republicans as they promote their version of a desirable and sustainable population growth.

.

WookieMan says

Swfl says

More sellers desperate in Florida…
https://www.newsweek.com/florida-house-prices-fall-homeowners-try-sell-1879096

Florida has a boomers starting to die problem. Probably not enough from the north coming in any more to suck up inventory. Retirement regions could take a hit.

Yeah, one thing I was reading about since is that one major demographic unique to South Florida and is a reliable Democrat vote in South Florida are the "greatest generation" born before 1935. Yes I am talking Jewish people from New York and New Jersey mostly.

I've read some Florida politics article stating they are getting more and more replaced with South American immigrants and their 2nd generationers who have a different political bent or perspective, and that is why Palm Beach county is not leaning far left like when you saw how well DaSantis did this.

.

https://www.reuters.com/markets/us/us-single-family-housing-starts-soar-february-2024-03-19/

US single-family housing starts, permits near two-year highs

Rate cut? (I don't think so unless maybe jobless numbers radically rise but others here think Powell is Biden's butt boy...)

https://www.redfin.com/news/housing-market-update-supply-climbs-prices-increase/

Housing Market Update: Supply Climbs 5%, Biggest Increase in Nearly a Year

This here is proof positive of two things:

1) Fed told Team Biden to not count on a rate cut...or any 'rate cut' beyond mere tokenism.

2) The Bidenites are fucking desperate for sure.

UkraineIsTotallyFucked says

This here is proof positive of two things:

1) Fed told Team Biden to not count on a rate cut...or any 'rate cut' beyond mere tokenism.

2) The Bidenites are fucking desperate for sure.

Too many things to refute in that meme. Builders got to build. That's all there is to it unless STRs are eliminated.

GNL says

Too many things to refute in that meme.

Not a meme.

https://www.foxbusiness.com/economy/mortgage-rates-stay-above-6-through-2025-fannie-mae-says

Mortgage rates to stay above 6% through 2025, Fannie Mae says