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Peter P
2005 Sep 21, 5:51am
There is no jobs out there, that’s why i want to buy business.
I thought hiring is picking up. My friend went to a Stanford job fair yesterday and he said it was much larger than last year.
I would be very suspicious of any number quote by a business being sold. Is the number net of hired help (which may be necessary) and a modest salary for yourself?
Peter P
2005 Sep 21, 5:54am
BTW, you may want to try to look for work before thousands of real estate agents and flippers suddenly realize that they need to do the same.
Peter P
2005 Sep 21, 6:10am
I’m a machinist.
Have you looked into buying a small machinist shop (or a related business)? If you are in the business, at least you will have a better understanding of the work and you can better avoid potentially bad investments.
Peter P
2005 Sep 22, 5:25am
Just want to add...
Many business owners may tell you that they have cashflow off the book for tax reasons. Beware.
Peter P
2005 Sep 22, 8:37am
Anyway, buying private businesses is a rather risky proposition. Do not take my word for it, consult someone who knows the business as Mr. Wrong (Right) suggested. You may also want to talk to a business lawyer. There can be hidden liabilities depending on how the deal is structured.
Peter P
2005 Sep 22, 9:40am
Hey, Van Kouver, I heard that Vancouver is forming a top. Is this true? I have friends who may be buying, and I need to convince them of the housing bubble. Thanks.
Peter P
2005 Sep 22, 10:37am
Condos look pretty toppy just now, but the general market looks surprisingly firm–might be different tomorrow.
What is the P/E ratio for a 2/2 semi-prime condo up there?
Peter P
2005 Sep 22, 11:18am
Peter P–I just looked– $450000 is a more reasonable estimate, some a bit cheaper. Rent is as low as 1175 per month, and up to abt 1700 for similar.
P/E is very high indeed.
Peter P
2005 Sep 23, 4:55am
Van Kouver, my wife just showed me a price list of some condos in Mariner (?), a 2B+Den is asking for about 1M Canadian. This is madness!
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Per: Owneroccupier in his/her own words
I would suggest opening a new thread where we can collectively think about how this RE bubble will end. We can toss around a few scenarios, and devise plans accordingly about how we can
1) protect our asset/money/portfolio
2) minimize our contribution in whichever legal way in the bail-out effort following the burst
3) and best of all, take advantage of the bubble burst.
It is better than just griping to no end. Let’s take some more constructive steps to build a fortune during the downtime. I am sure even during the 1929 Depression, some people benefit from it. It just depends on how you set yourself up to be among the few.
#bubbles