View Full Version : Real Estate Crash! ARMs due & people goin' broke!
Greg B
10-03-2006, 07:55 PM
Glad I got back into real estate! Friggin' foreclosures are coming in faster than we can count! I can snag up million $ homes for fucking pennies on the dollar!
Either Lensman from GFY or Legendary Lars predicted this and I saw it coming too.
Pal of mine has AWESOME real estate and corporate funding ties and I'm bowled over with the steals. I guess people thought they could roll on with those adjustable rate mortgages til the wolf came knockin' at the door.
Really some great bargains! I mean with $100k stashed away for a rainy day I can snag up ten big properties and flip them fuckers for under market value quick! It's like being a kid in a candy store!
Anyone else dealing with these real estate trends?
Peaches
10-03-2006, 08:30 PM
I need to get over my paranoia of buying buildings. Right now I'm doing well with land and I'm keeping some liquid for when I break down and buy a building. I love land. :)
Greg B
10-04-2006, 12:01 AM
I need to get over my paranoia of buying buildings. Right now I'm doing well with land and I'm keeping some liquid for when I break down and buy a building. I love land. :)
In some places land is cheap. In my hometown the prices shot up to $150k an acre. A freakin' acre! I remember 10 years ago when it went for $4k! The land is worth more than the houses for cryin' out loud.
Good thing for investor loot. When ya find a hot property you can sell fast you make a mega profit.
gonzo
10-04-2006, 12:11 AM
In some places land is cheap. In my hometown the prices shot up to $150k an acre. A freakin' acre! I remember 10 years ago when it went for $4k! The land is worth more than the houses for cryin' out loud.
Good thing for investor loot. When ya find a hot property you can sell fast you make a mega profit.
Got a place out there for a Dog Farm?
She bought em a plasma TV last month!
Peaches
10-04-2006, 08:35 AM
In some places land is cheap. In my hometown the prices shot up to $150k an acre. A freakin' acre! I remember 10 years ago when it went for $4k! The land is worth more than the houses for cryin' out loud.
Good thing for investor loot. When ya find a hot property you can sell fast you make a mega profit.
That's what it's doing here. 1/2 lots I could have bought for $4K 5 years ago are going for $75K now. Auctions are my favorite. Bought a lot there for $1000 a few years ago and it's worth about $85K now ;)
Next thing I see happening where I live are tear downs. Lots of crappy houses built in the 70's. on primo land.
Mike AI
10-04-2006, 09:19 AM
Investing in real estate should be left to the professionals.
The reason their is such a bubble now is 20-30% of the Re market was filled with speculators, most of the first timers - and they are going to get hammered.
Greg B
10-05-2006, 10:29 PM
That's what it's doing here. 1/2 lots I could have bought for $4K 5 years ago are going for $75K now. Auctions are my favorite. Bought a lot there for $1000 a few years ago and it's worth about $85K now ;)
Next thing I see happening where I live are tear downs. Lots of crappy houses built in the 70's. on primo land.
Right on for you! Wish I had held on to that last house. The land would have doubled by now. Not all is lost though. I've got enough funding to do some serious purchasing of properties I would want to keep.
You're smart that you snagged what you did when you did.
Greg B
10-05-2006, 10:33 PM
Investing in real estate should be left to the professionals.
The reason their is such a bubble now is 20-30% of the Re market was filled with speculators, most of the first timers - and they are going to get hammered.
Real Estate is always filled with speculators. People thinking they can make a quick buck. Not realizing there are more factors involved. I'm lucky that I've got a long track record for finding properties that grow in value as well as other RE factors. I've never lost on RE. Having family in construction and rehab helps too as well as having architectural skills. I work wood, masonry and many other areas of rehab and aesthetics so putting equity and raising value is fun for me.
That's why there's going to be good pickens soon because so many speculators overinflated things and people overextended themselves.
Choosing the right thing and doing the right thing is where you make money in RE.
Greg B
10-05-2006, 10:34 PM
Got a place out there for a Dog Farm?
She bought em a plasma TV last month!
What in Sam Hill are you talking about?
Dogs? Plasma TVs?
Hammer
10-06-2006, 07:54 AM
Does it feel good to profit at the expense of others?
I've invested in real estate for over 25 years now and never once touched a foreclosure and never will and I still do just fine.
For every foreclosed house that you gloat over buying there's a family somewhere that is suffering.
Does it feel good to profit at the expense of others?
I've invested in real estate for over 25 years now and never once touched a foreclosure and never will and I still do just fine.
For every foreclosed house that you gloat over buying there's a family somewhere that is suffering.
you know... i saw a couple people bashing you from time to time but never really paid attention to what you post until recently. you have a habit of contradicting everything that is said... which is fine actually. thats what debate and discussion often is. but you do it by making the most idiotic comments and poorly thought out remarks that usually make no sense whatsoever.
you're just not a smart person. trying to put others down to build up your own sense of self is backfiring miserably. accept what you are. stop calling yourself a consultant... and spend more time listening than talking.
"better to be silent and thought a fool...than to finally open your mouth and confirm it"
Does it feel good to profit at the expense of others?
I've invested in real estate for over 25 years now and never once touched a foreclosure and never will and I still do just fine.
For every foreclosed house that you gloat over buying there's a family somewhere that is suffering.
http://www.pornsitepros.com/consulting.html
you have the IQ and life perspective of a retarded sloth - but charge n00bs 150.00 an hour to hear 100% useless info that will be quickly learned anyway by anyone thats serious and applies themselves? and you have the balls to accuse others of profiting "at the expense of others"? you charge wannabe idiots 150.00/hr? huh?
or... maybe you offer some guarantee? you know, so that you don't accidentally charge an idiot with a dream 150.00 for 20 hrs of "consulting" when its just going to be another needless expense that should have been avoided to begin with? i mean, since you can't stop questioning others morals... i'm sure everyone invests 150.00 an hr in you but turns that investment into a nice business and does nothing but rant and rave about what a great investment it was and how they recommend working with you?
... oh. wait. no testimonials on your site anywhere... but i am sure you have plenty of n00b success stories where that 150.00/hr really paid off.
NOT!
gonzo
10-06-2006, 02:02 PM
http://www.pornsitepros.com/testimonials.html
Hammer
10-06-2006, 05:15 PM
... oh. wait. no testimonials on your site anywhere... but i am sure you have plenty of n00b success stories where that 150.00/hr really paid off.
What was that about better being silent than being thought a fool? Moron.
btw. My IQ is way above average and after 49 years, I have plenty of life experience.
http://www.pornsitepros.com/testimonials.html
ha. pwned
What was that about better being silent than being thought a fool? Moron.
btw. My IQ is way above average and after 49 years, I have plenty of life experience.
for example... you say someone taking advantage of foreclosures is profiting from others misery. well my "IQ well above average" dipshit friend... foreclosed is foreclosed. if someone can't meet their financial obligations under the terms which they agreed to when they borrowed someone elses hundreds of thousands of dollars... they lose. end of story. it doesn't matter who steps in and pays off or takes over the note whether its the bank or another investor as it does not stop the event itself.
credit has to be paid back one way or another for the system to exist and function, but then again... i'm sure you knew that because with your outstanding IQ, you understand the basic principles of macro and micro economics.
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