patrick.net

I got a letter some days back from Donald T. It is an invitation to attend an event on the "booming foreclosure market". Maybe some of you will be getting a like invitation soon.

I for one do not believe that "insider information" on the booming foreclosure market will bring me to any good end. Donald T. is an ultra boomer. He is likely to abound in "wealth creation" for himself, but not me.

ak,

Yup - John T Reed has done many excellent exposes on most of these "instant millionaire" bullshit artists, most notably Robert Kiyosaki (is it any wonder he's Casey Serin's hero?). Same could be said for any get-rich-quick MLM/pyramid scam sold to the general public. If it's such a sure-fire money-maker, then why aren't YOU doing it instead of selling me your "secret" for 10 easy payments of $499.95?

About the only good thing I have to say about those guys is they mostly prey on the willfully greedy and stupid. That puts them a notch above scumbag parasites that prey on the elderly with "equity stripping" and similar scams.

Either I need to open the single-malt or that shirt X is wearing is making me dyslexic.

I palindrome I

How come this particular thread attracted the following Ads by Google: "Euthanasia ProCon.org" and "Was Kevorkian right?"

You can only get rich in the long run. I made a 4 HAHA profit in real estate by living in it for 25 years. Surfer-X can too, with a side benefit of paying FICA on my behalf. A rising tide raises all boats!

Randy & Eliza,

I just posted a (somewhat rambling) reply to your points re: rent vs. buy on the last thread.

Nice to "see" you guys again. :)

i just parked IamFacingStarvation.com so I can resell it for huuuuuge profitz.

let the bidding begin.

There could well be a booming foreclosure market about to happen -- is it worth trying to 'capitalise' on it? 'Buy in gloom, sell in boom'? Or are you going to be catching a falling knife? Or we simply can't be assed trying to make money out of other people's misfortune by hustling on the courthouse steps?

Casey S. would have been well advised to try this strategy from the guru's playbook at this point in the market, rather than being the foreclosee who bought at the top...

Is Donald T. Donald Trump, by the way? Seems a bit beneath his style...

HARM Says:
I just posted a (somewhat rambling) reply to your points re: rent vs. buy on the last thread.

so did I...

trump is all over the seminar circuit

http://www.trumpuniversity.com/programs/rem/index.cfm

crazy huh. i think other gurus pay him to use his name on thier products/classes/programs and even to put his name on thier high rise condo.

he is the slickest of them all.

hmm, right. john t. reed also has a review of donald trump, and separate, less than glowing reviews of the trump/ross books, which imply particularly that it's pretty hard to downscale advice from high-end NYC property developments to low-end residential real estate deals... which would cast some doubt on trump university courses also, unless he is just lending his name to the institution and not his personal expertise...

Yes I like Reed a whole lot. There are very few honest books/advice out there. Also he isnt afraid of being sued by the crooks and has defended himself in on his own - hes no coward.

I must say that reading Reeds books will take the air out of any enthusiasm one has to invest in RE of any type. He recommends 10% cap rate is minimum. That hasnt been seen in CA in 10 years probably(8 years?) and it may be that long until it comes back, if ever.

a similar character in Oz is Neil Jenman at www.jenman.com.au -- also been sued by gurus, his website is a 'little' more polished than john's, and scope is much larger...

John Reed is the other extreme - the perpetual bear.

Looking good Mr. X. and Mr. Harm.

Glad to see that Surfer-X finally bought! I hope monthly payments are manageable ...

Dear PR, yes, "manageable". Totally doable without to much soul crushing. No other debt, so all it well. Our house puts the "bung" in bungalow.

*unlurks*

*evil TOLurker mode*

*mock-anger* *waggle finger* Surfer-X you are most abso-f*cking-lutely anti-boomer. What? No debt other than your mortgage? AND the mortgage is manageable and not soul-crushing? WTF? You're supposed to be crushed under your house...Wicked witch of the East-style!!!! Now hurry up and get a second mortgage to renovate that crib of yours! Now that you've gone to the dark side, we EXPECT you to flame out financially in 12 months. 3 if you extract all your equity right now!!

(Ah well, the most we can expect for other FBs is that they eat ramen but I often think that should make you fat not thin since it's fried starch)

*pouts* how come HARM was invited and not me? Unless it's the 7/7/7 party for which I was way out in east-east-east (meaning the Cdn. province of Newfoundland?) Every blog party needs an obnoxious foreigner...moi!

*end evil TOLurker mode* *relurks*

*unlurks*

How do I change my password for this login-to-Patrick.net thingy? I can't figure it out

"Good" TOLurker sadly has nothing to contribute to Bay-Area related topics but happily obliges reading all threads, making sometimes on-topic posts and occasionally hijacking threads. By the time I want to comment on something though (like DinOR's interesting situation, SQT's parents or just the absence of old favourites like SFWoman, WW2/SHTF/Nomadtoons2) the thread has already carried on.

I propose a new topic that we don't have do right away if summer is too slow for a nice long thread. Now that Conrad Black has been convicted of fraud and obstruction-of-justice in story that's plastered on every newspaper in Canada (but probably none in the U.S.) I want heaping quantities of SCHADENFREUDE: "What are you doing while FB's boil in financial oblivion?" Yes, while all the FB's (fucked borrowers, fucked boomers) and FH's (fake homeowners) are boiling in financial oblivion tell us stories of how you're enjoying life to fullest (with or without reference to FBs) BECAUSE you're not crushed with overleverage. For example Astrid, Peter P and me could have a discussion on what kitchen knife I should buy next with the money burning a hole in my pocket.

OK, somewhat on-topic... Tsusiat if you're still there has anyone you know become a recent used homeowner in Vancouver and are they looking thin like Surfer-X? Damn yuppy-homebuying Torontonians are stilll looking fat and happy and still condo-crazy; I can't believe someone would pay $600K for a 2-bedroom pseudo-loft when they could get a somewhat central house with land, and that significant numbers of people actually have $600K (or access to it) to buy said house (OR loft!) Of course I"m sure that still sounds cheap to Vancouverites or Bay-Area buddies lurking here.

*relurks*

操你祖宗十八代