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Re: REFI
Old 11-23-2004, 01:59 PM   #1
 
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Re: REFI

consejo,

I think what you're missing here, is that most all of the posters on this forum have figured out a way to Retire Early already and really are not interested in 'Make money in Real Estate' discussions.

If it enabled you to retire fine. - We're all glad for you! - We're not Nay Sayers. - We're successfull at what we did to retire early.

If I posted daily about how to retire early as a Software Engineering Consultant, people would soon come to hate this blather too.

I think what you need to do, is find a forum that specializes in making money rather than retiring early. I'm sure you'll find a lot of folks interested in your Real Estate Job.
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Re: REFI
Old 11-23-2004, 04:33 PM   #2
 
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Re: REFI

Hi Cut-Throat! I basically agree with you. However,
even while I do no work, I am prepared to make allowances for those who chose to work at
"something" even while calling themselves ERed.
If I was younger, or even felt like I did at 40
(hell, even 50), I might convince myself to go back
into the world of commerce. Some people can find their
greatest satisfaction in working. If they can arrange their affairs to allow this, then I say more power to them. Actually, I am kind of envious that I no longer
have the option.

John Galt
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(by the way, John Galt, thank you for yourRe: REFI
Old 11-23-2004, 05:04 PM   #3
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(by the way, John Galt, thank you for yourRe: REFI

Cut-Throat, please read the name of the board and the directions:

They both imply that this board is intended for some free association on making money.

And, I don't have a dog in this fight. I have been out of the RE investment biz since I sold my last property in 03/04.

There are three reasons I push real estate to PROSPECTIVE ER'rs:

1 - If you want to ER you will need to apply some leverage - no leverage is safer or easier to finance than RE.

2 - Because of the fundamentals driving RE the potential returns are multi-faceted; that multiple streams of income stuff.

3 - Every millionaire I know, and there are a few just in my family, alone, got that way through real estate - no one I know did so in the stock market.

So, the people who are pushing the stock market are assuming you have forty years to finally average a measly 10%. PLEASE. I think that advice leaves a lot to be desired and is not of much help to someone who doesn't have that kind of time or doesn't want to spend 40 years hoping for the payoff.

This board is SPECIFICALLY for someone who is a bit more adventurous. (by the way, John Galt, thank you for your tacit endorsement; at this point I'll take any help I can get!)

I just have to wonder why some of these people so angry? Is it because anything that doesn't validate their own thinking, they think must be wrong? Or do they not trust that the intellect of others on this board is sufficient to make up their own minds? R/
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Re: (by the way, John Galt, thank you for yourRe:
Old 11-23-2004, 06:40 PM   #4
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Re: (by the way, John Galt, thank you for yourRe:

Quote:
If you want to ER you will need to apply some leverage - no leverage is safer or easier to finance than RE.
I'm already semi-retired and on the road to FI at age 40 and never owned real estate nor have I leveraged anything.

Quote:
Every millionaire I know, and there are a few just in my family, alone, got that way through real estate - no one I know did so in the stock market.
If I worked until 40 at a full-time pace, I would have accumulated a net worth of well over $1mil with just savings into stocks, bonds, mutual funds, and CDs. No real estate.

Quote:
So, the people who are pushing the stock market are assuming you have forty years to finally average a measly 10%. PLEASE. *I think that advice leaves a lot to be desired and is not of much help to someone who doesn't have that kind of time or doesn't want to spend 40 years hoping for the payoff.
What's wrong with 10%? I would sign over everything I own today if I could lock in a guaranteed 10% return. I don't even consider 8% measly, much less 10%. It's only taken me 14 full-time years, not 40, at least to get to semi-retirement.

Quote:
This board is SPECIFICALLY for someone who is a bit more adventurous. I just have to wonder why some of these people so angry? Is it because anything that doesn't validate their own thinking, they think must be wrong? *Or do they not trust that the intellect of others on this board is sufficient to make up their own minds?
I'm not angry at all. In fact, if I could find a good real estate deal that I could buy and flip for a quick dollar I would do it in a second. I don't find anything wrong with real estate and I know people have made lots of money with it. But, you make it sound like you can't make it to ER without real estate, and you can't make it with just a "measly" 10% on your investments. I say you can and I'm living those words.

Instead of arguing these points, I'd be more interested in learning from you where and how I can find a great real estate deal and how I can make money on that deal.
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Re: REFI
Old 11-24-2004, 05:55 AM   #5
 
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Re: REFI

There are many things I do not understand.........
liberals for example But, I do understand real estate.
Of course you can ER without owning real estate, or
ever leveraging any investment. However, leverage
(along with compund interest) is one of the wonders of the financial world, and leverage is particularly valuable in real estate. Just imagine it. You can control huge deals with little (or none) of your own money, and you
can reap almost all of the benefits of ownership without
putting up a dime. I personally know of no other
investment where leverage is so easy to use, nor where the potential upside is greater. I have employed
it to buy businesses also, but real estate is much simpler for a whole bunch of reasons.

John Galt
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Re: REFI
Old 11-24-2004, 11:37 AM   #6
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Re: REFI

Retire@40: I am not defending RE, it is what it is. I do think, though, that in an online community you do need to defend a territory or else the flamers will try to bully you out. I think they do it for fun because they have no other life. 8)

This forum is worth answering the flames. My remarks are for those who go to a forum that is promoted as not in the mainstream and complain when a post is not in the mainstream.

Actually, RE is very much mainstream. Everyone I know who is FINANCIALLY successful is diversified into it. Everyone who wants to be is looking to at a minimum own a home of their own.

I only came to this board to post because on all the others every one takes themselves way too seriously. One fact obviating all that seriousness is that anyone can post anything, so claims are meaningless.

I am not bragging about my returns, that would be like those stock market guys that were all geniuses until the dot.com blow up.

As to finding great deals, you first need to learn your market and be ready to move when something comes up. That will mean having your down payment and financing lined up.

I have never tried to turn a fast buck in RE. I buy and hold then let the market do it's thing. You can gain an advantage by looking at the cheaper extremes of a hot market and waiting for the prices to move in your direction.

I bought in Calexico 4 years ago. Now people from San Diego are buying out here and commuting 2 hours! I thought it might happen, it did in a two hour circle around San Fran; so I took a chance and it paid off.

I did the same thing in Yuma two years ago and right after I bought the market took off. Just lucky, the bubble could have blown up like the dot.coms.

It didn't but it might but RE and the market have always been on that same long-term upslope.

JGalt, what I am proposing is what I tell anyone who asks me for advice: First get very clear on your goals and then take the shortest road to them with the least amount of hassle.

To own rental real estate is a privilege. You get to provide housing, a very unique commodity, and deal with real people. You treat people fairly they generally respond in kind. You maintain your properties and they appreciate it and te owner profits. But that is not to say it is not w/o work.

But the stock market makes me queasy. I don't see how the imperitives of a public company are generally in the public interest unless you consider exporting jobs; exploiting cheap labor, and all the ills of Enron good for this nation somehow.

R/
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Re: REFI
Old 11-24-2004, 02:21 PM   #7
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Re: REFI

Quote:
There are many things I do not understand.........
liberals for example
Ignorance is bliss John. Unfortuntately, I understand conservatives being raised amonst them, and that makes it all the harder to stomach them now.
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Re: REFI
Old 11-24-2004, 04:09 PM   #8
 
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Re: REFI

Amonst? Hey azanon, I'm not pickin' on you man.
It's just that I believe the government (all levels)
is basically in my way. I can warm up to about
any type of people, except liberals. There is no one
and nothing on this planet that receives more scorn and contempt from my tongue and pen.

John Galt
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Re: REFI
Old 11-24-2004, 04:17 PM   #9
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Re: REFI

Yeah!

That durn old John is always picking on me -- heh,heh,heh.
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Re: REFI
Old 11-24-2004, 06:43 PM   #10
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Re: REFI

Quote:
Amonst? Hey azanon, I'm not pickin' on you man. It's just that I believe the government (all levels)
is basically in my way. I can warm up to about
any type of people, except liberals. There is no one
and nothing on this planet that receives more scorn and contempt from my tongue and pen.
Re: Amonst, even if its not a word, I bet you followed it given the advantage of context of the sentence.

You're not picking on me? Sure looked like it in that other thread. I hope you saw my response, though harsh, as fair and justified, given the things you said. Maybe some good discussion will come out of it. And, maybe, you can even learn a thing or two from a liberal X-Gen. We tend to come across brash, because logic is just inherently that way. I'm a freethinker and a scientist, so prepare for a large dose of logic and common sense from me.
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Re: REFI
Old 11-24-2004, 08:33 PM   #11
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Re: REFI

Quote:
There are many things I do not understand.........
John Galt
Yes. That much is clear.
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Re: REFI
Old 11-25-2004, 03:17 AM   #12
 
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Re: REFI

Hey salaryguru! You know, one of the advantages
of possessing a massive ego is that it is almost
impossible to hurt my feelings
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Re: REFI
Old 11-25-2004, 03:41 AM   #13
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Re: REFI

THere are many ways to do most things. Our job is simply to find what works for us and alllow others to find what works for them.

Bruce
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Re: REFI
Old 11-25-2004, 08:24 AM   #14
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Re: REFI

Quote:
Hey salaryguru! *You know, one of the advantages
of possessing a massive ego is that it is almost
impossible to hurt my feelings *
Which is good, John. Because I certainly didn't mean to do that. I'm afraid my sarcasm and sense of humor does not always play well on discussion boards. I end up p!ssing people off when I only intended to make a joke and get people to laugh at themselves. With you, I know there will be no problem.

Happy Thanksgiving, John and the rest of you.
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