patrick.net

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

egads101 says

which is an utter lie

Now, Bob, we all know you are liar.

You got caught, spanked, and ran off.

What's the deal with this other persona? You sound even more nutty.

kashif313 says

Also if what you say is true, why are institutional buyers existing the purchase to rent model? Answer, because the returns are not there, meaning people are not paying asking price for rents and choosing a 3rd option listed above

You could be right but the reason I think is what is known long ago. Residential rentals are too complex for institutions to manage profitably, and has been the domain of mom and pop till this financial crisis. It means that even with the low purchase prices, the business model till can't work because return is till not good enough to compensate for the high overhead of an institution.

Some "bull" just please tell me how median house prices and median incomes in the SF Bay Area make sense? How do they live in the same world? I don't get it. Here are some possibilities:
People who buy houses are saving for retirement at all.
People who buy houses plan to try and keep their current income or a higher income well past age 65.
People who buy houses eat poorly.
All people who buy houses are from families with substantial net worth.

FunTime says

People who buy houses are saving for retirement at all.

"AREN'T" saving for retirement.

egads101 says

You really believe home prices haven't gone up over the past 2 years?

No Bob, they haven't. If you were in the business of Real estate you would know what was going on.

That's why you don't sound real to me, you bring nothing to the table to prove anything.

Wyoming isn't the same market as California, the same as Chico California isn't the same as Phoenix Arizona.

Atlanta Georgia can increase in pricing because it dropped as far as it did.

You just haven't figured out that we are all in deep poop unless our economy changes from phantom property equity to generating real dollars in terms of goods, and services.

Real Estate is the easy fix, it just takes a little hype. That's why both George Bush, and Obama promoted the idea that housing would lead our economic recovery.

Bill Clinton on the other hand promised a personal computer in very home, and that was what we fondly refer to as the last strong economy.

You've got nothing here Bob, you should move along.

egads101 says

you really are the patrick.net village idiot!

As fun as this is Bob, you've demonstrated again that you have nothing but a redfin sales blurb as your basis of analysis.

We're in deep doo doo economically Bob, and you should move along, and let people get some information from this blog site.

egads101 says

WTF?

Another brilliant analysis from big time Real Estate Investor Bob.

House Investors never lose! Good luck with that belief.

sbh says

Well, I guess there are some black people who are Republicans?

Herman Cain...

finehoe says

http://www.washingtonpost.com/business/economy/adding-to-the-deficit-bush-vs-obama/2012/01/31/gIQAQ0kFgQ_graphic.html

If Obama would have rescinded those "temporary" Bush tax cuts, he would've been in the black according to these charts!

Roberto, Somewhere in the "investors lose" white space you need to put a dot for cannibal anarchy.

The Professor says

Houses are supposed to be for people to make homes, not for investors to make fortunes.

Except in the dark ages when the poor plowed the land and were given a roof to live under. Who says we can't revert to this? It wasn't that long ago...

EBGuy says

Roberto, Somewhere in the "investors lose" white space you need to put a dot for cannibal anarchy.

and "AF wins!"

Oh looky! The Illiterate Professor speaks!
* start a sentence with a CAP....
* "were", not "where" you dumb shit....

egads101 says

did you suffer a terrible head injury or something, or where you always this way?

Honest Abe says

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

Agree.

But that's easier said than done, right? Everybody wants their piece of the government pie. And it's not just the stereotypical "welfare" people, it's the "defense" industry and the TBTF corporations (esp. banks).

Again:

* Start a sentence with a CAP

* "higher order thoughts" begin with a minimum of 3rd grade grammar...maybe one of your renters can tutor you on the side...

* "Douchebag", not "douche bag" you Douchebag....

egads101 says

SoftShell says

Oh looky! The Illiterate Professor speaks!

* start a sentence with a CAP....

* "were", not "where" you dumb shit....

oh look the grammer nazi douche bag shows up! If you can't form a higher order thought, you can always nitpick grammer, right?

egads101 says

he is mentally challenged...

Now Bob, we all see you had a melt down, you created this other weird persona, but still have nothing to say.

It's kind of like an alcoholic who thinks if he moves everything will change for the better.

egads101 says

If you can't form a higher order thought, you can always nitpick grammer, right?

or personally attack people on the internet.

egads101 says

do you need a fifth grader to help you read the venn diagram?

I take it you're referring to the area outside the circles labeled "investors lose." Yes, please help me with your unusual Venn diagram.

It is the height of entertainment watching Roberta attack the intellectualism of other posters while simultaneously displaying the English prowess of a Rosetta Stone dropout...

David Losh says

egads101 says

If you can't form a higher order thought, you can always nitpick grammer, right?

or personally attack people on the internet.

There is no such thing as a free lunch.

Honest Abe says

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

Because sadly a 5th grader understands that borrowing permanently cannot sustain itself, that a future generation will bear all the costs.

I think that's part of the failure of personal responsibility. People stopped being responsible, so pushing huge burdens onto future generations to them seems like a fine thing... as long as it's not them paying today. It's a shame.

hanera says

It means that even with the low purchase prices, the business model till can't work because return is till not good enough to compensate for the high overhead of an institution.

when wall st is chasing 3-4% returns you know the model is clearly fucked

i can point out many lies you have said roberto

you said your rentals were providing you with enough profit to not have to go to work,and that one day you would turn over all management of your rentals to a company and live off the profits

we both know you are a liar because for one, you live with room mates and two, you have a day job to support your debt load you liar

speaking of your job, you claimed to be a well respected college professor

in reality your students loathe you at scottsdale community college and you have a low rating of 2 out of 10 on that ratings website, another lie exposed

egads101 says

"housing is done

It's done Bob, and you have brought nothing to the table except redfin, and Zillow hype.

Your delusions of an economic recovery have been discussed Bob, and proved wrong.

You have no idea what you are talking about. You live in a box Bob without windows.

egads101 says

I'm not sure why you keep bringing that guy up, but he actually posted all the address of the properties, and it all checked out.

Come on Bob, give it a rest, and move on.

Now we're back to the 15 house 6 mortgages, and $6K in passive income.

This was your melt down moment Bob. It makes no difference to anyone, nobody cares.

Crazy - well done!

egads101 says

hey, kind of like an obnoxious retarded asshole, who has been

Bob, how many threads are you going to clog up?

Is that the point?

egads101 says

1. foreclosed on.

Really? was I foreclosed on?

Wow, thanks for telling me. I might need to check that out, or write it off as more Bob BS.

egads101 says

well, since you claim to not know anything about all the lawsuits filed against you, not a surprise really.

Well, I know that a foreclosure comes with paper work, so where is it Bob?

egads101 says

david,

Bam, gotcha, don't I Bob.

egads101 says

Yes david Losh, housing prices have fallen by 50% over the past two years.

It's always amusing when you make stuff up Bob, or do you have some data to go along with your assertions?

egads101 says

David Losh says

egads101 says

I'm not sure why you keep bringing that guy up, but he actually posted all the address of the properties, and it all checked out.

Come on Bob, give it a rest, and move on.

Now we're back to the 15 house 6 mortgages, and $6K in passive income.

This was your melt down moment Bob. It makes no difference to anyone, nobody cares.

david, the last colonoscopy must have sucked out your small brain.

How much lower can you go?

egads101 says

To the sphincter, maybe?

That would be you Bob.

A....horse is a horse of course of course..
But no one has heard of a talking horse..
Have you evvvver heard of a talking horse??
Well listen to this..dadadadada..
I..AM ROBERTA SLUMLORD.....

We should personally attack each other while discussing the FCOJ market, not the RE market.

egads101 says

I'm not sure why you keep bringing that guy up, but he actually posted all the address of the properties, and it all checked out. Since the oracle has been here forever reading everything, the oracle remembers all.

15 homes, 6 mortgage, and a state pension in a couple years.

I'd say that guy is on track to do exactly what he said he was going to do.

further, that rate-my prof thing you keep mentioning is on a scale of 1 to 5, so 2.8 is above average...

so rather than exposing another lie, you've inadvertently shown your own bias and stupidity.

The oracle wishes he had the same success. To be 50 years old with a couple million in equity, $6k in rental income, and a 25 year old girlfriend does not sound too bad to the oracle!

perhaps you should try to improve your life instead of hating someone who has done better than you? that is what the oracle is trying to do!

roberto never posted any addresses liar

i have never seen any proof that roberto has a 'couple million' in equity off 15 houses, thats another lie

roberto claims he bought $25,000 condos and now expects us to believe they appreciated by 20x their price so he has millions in equity, what a liar

btw, equity isnt liquid moron, your equity is tied up with your debt, i thought you taught math asshole

2.8 out of 5 is horrible. thats a failing grade at any respectable college. basically your students gave you an F, how can you come on here with any dignity and claim that your students actually respect you when they gave you a 2 out of 5

stop being a liar roberto especially to yourself

egads101 says

"I couldn't do my spreadsheets..."

"I was encouraged to buy 2009 quickbooks, which I did, but i couldn't figure out how to do it..."

Thanks Bob, I never get tired of seeing those videos.

I did have to hire a professional which was the plan Quick Books had. They also certify people.

So it took me two years to forensically rebuild my books, and keep them up to date. Now we have a certified Quick Books Bookkeeper.

Our accounting has gotten to be much more complex than simply buying, and selling property.

We have employees, as opposed to contractors. Our contractor bookkeeping was a lot easier.

If you can't figure something out Bob, you can always ask questions.

egads101 says

Your the moron who keeps claiming "home prices are down over the past two years" you've NEVER once backed anything up with anything

Well, Bob, I'm a seller in today's market, and as you keep pointing out those sales are less than what was paid for Atlanta, Wyoming is down at least 25%, and the Seattle house is down about 6% from just a few months ago.

So yeah Bob, I'm saying that not all sellers are getting multiple offers.

Let's see what happens tomorrow shall we?

BTW Bob, I copied this link for you.

It shows some people use time constructively: http://www.cnbc.com/id/101040521?__source=xfinity|mod&par=xfinity