I couldn't live in most parts of the place that I have seen, but it is (still) the worlds premier economy – by a long shot. Don't write it off just yet…..
Thanks, We are a resilient bunch and we didn't become this way, by being here if we didn't do something right. We over leveraged is the biggest problem. When i say we, i mean the majority of people in the States that caused the recession, lived on too much credit we couldn't afford. Just like since Clinton in the 90's starting to sell us to China. WE JUST COULD"T QUIT SPENDING.
What will become of us Freckle,do you think America is going to not come back. It wouldn't be good for anybody! The World slowed down when 2nd Depression hit. It comes down to what we are based on Freedom, American Dream, and Capitalism. It has worked for so long. This Real estate market is a gold mine! Who the heck is buying the $$$1,000$$$ shovels or pickaxes shouldn't be gold mining if they can't use the right tools or don't know how to find gold. Alex offers a good product and isn't Spruikng anymore than anybody else that uses this forum. We seem to enjoy the forum and most people that frequent it know that the community posts quality discussions. I might me being hopping around on what was posted this last week, but i wanted to put my two cents in also. Was a busy week and had some good progress on rehab work and put some bids in on some good houses. Heck, i even proposed to my lady last night
Jay has a good point, it's hard to make the same mistakes with so many homes in the inventory being bought with cash and IRA's. Funny u (since when was grammar on the forums so damn important, i use U instead of YOU cause my Generation is more tech and social with how we communicate. Thanks Twitter, hash tag #) mentioned the IRA's, i went to a seminar this weekend about it with my Real Estate agent. Real estate is by far the safest bet compared to stocks and bonds. I haven't invested in he market since 1999, just to damn crazy for me.
The Gov and there mess with Fannie and Freddie has to do lot with how they perceived everybody deserved a home and part of it was greedy banks and mortgage brokers. Is it me or does it seem like the run of the mill broker died with the bubble burst.
I like what the freckle posts, but man, u can be a Debbie Downer. At the end of the day the market is low here and the investments i buy make me and my investors money. The first golden rule is buy when the market is low, Warren Buffet would agree with me on that .
Make fun of our grammar and education system, whatever mang! U can hate all u want, i'm hater proof.
Not to many people get as deep into what trouble the economy is here when they consider investing here . I can say as an American we are resilient and this doesn't go unnoticed. All i can do is continue to work on being a small business and taking up the slack of the "Big Gov" and work with community banks. Those deemed "To big to fail" is scary thought when they have a majority of the assets.
I can't speak for others but for myself it has been a great experience! I deal mostly in cash flow rentals and usually pay off my investments in a year or two. I also take the cash flow and purchase a couple of long term properties with capital growth potential. But the passive income from the cash flow will pay more than holding most properties and hoping for appreciation to be the big pay out. Have you invested in the market?
When I go to Florida I am pretending to buy homes. Really go for the fishing and fun in the sun.Cant go wrong for that their.
I'll keep you in mind for my next big trip i set up in Tampa! Three days and nights in some of the best hidden reefs from a good charter. About 300 bucks a person is a steal if u tried to do it in your own boat it would be a fortune. I hear you can get a barrel of Crown Royal for a thousand bucks, man what a time it would be! lol
My feelings are you will only be successful in the US if you can do it better and more personally than the next guy. This is where I am bit arrogant. I do feel we are as good, if not better then most teams around. Most of the people around me are lazy and looking for a free ride.My close real friends are also in late 30s and business owners. So it says alot about the company you keep. So doing it better , having passion, loving what you do.Will separate you from most people
There is no reason not to feel arrogant if you no you are the best, that's confidence in what you do as a person and yourself. I feel the same way as you do Alex! They are lazy and have no pride to push the envelope to provide something better. The competition is quick to hate and question why you would mess up there hey day of selling people crap. I was at a Republican Convention last Saturday and the key speaker was Steve Forbes. Part of what i make makes our country such a great place is FREEDOM. with freedom comes choice. Steve said these six words are a key "I'll take my money someplace else" People will find what is the best deal for there money cause we all want that!
So it says alot about the company you keep. So doing it better , having passion, loving what you do.Will separate you from most people
Is it really that bad that that cash flow is the only angle right now. I will make way more money renting these houses out till i retire than i would if i cash flow them for five and then make a decent amount of money off the sale. When i got into this game all i wanted was a passive income that paid me like a pay check that i used to get from a job. A passive or residual income in my opinion is like living off a hedge fund, u won't ever really need to work again if u do it right.
3919 Euclid Ave, if it was rehabbed to be tenant proof for 25,000 isn't to bad a deal, but doesn't sound like the seller did that. the rent on that type of house is generally in the neighborhood of 500 a month.
Not everybody has 200K to invest off the bat. I had to start with rentals and have no problem selling them to my Cali investors now. just have to be up front what type of investment it is. If your real with people and they know what to expect it can be a good investment for your money.