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  #61  
Old 11-23-2012, 09:21 PM
larryinalabama larryinalabama is online now
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Originally Posted by Patriot Services View Post
I don't do any of those three. Buying real estate these days means knowing who in the banking division has the authority to sell you a distressed property. Trading programs mean I don't have to watch the damn ticker all the time. I never said I borrow money to invest in the market.
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I misunderstood. Realestate has been great for a few years now, I wish I was younger, I buy up a whole lot more.
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  #62  
Old 11-23-2012, 09:22 PM
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I misunderstood. Realestate has been great for a few years now, I wish I was younger, I buy up a whole lot more.
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I'm being careful not to overextend. Even during the heyday I flipped one at a time. When the last one took six monthes and only netted 5k in my pocket I knew it was time. A bunch of buddies got stuck with dozens of properites they couldn't unload fast enough.
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  #63  
Old 11-23-2012, 11:39 PM
Will P.C. Will P.C. is offline
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I'm being careful not to overextend. Even during the heyday I flipped one at a time. When the last one took six monthes and only netted 5k in my pocket I knew it was time. A bunch of buddies got stuck with dozens of properites they couldn't unload fast enough.
When I was looking at buying a home, I was just amazed at the number of foreclosed homes I saw where you could see that someone had tried to 'fix it up'. It looked like they got halfway done and just literally walked out one day and never came back.

As often said in the car business, 'the money is not in the buy, but in the sale'

What this means is it doesn't matter what kind of crazy deal you bought the widget for and how it is 'worth 5X' the value if you can't sale it or can only sale it for a tiny profit. This is one reason you see many of the same make and models over and over at these big used car places like Car Max.
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  #64  
Old 11-24-2012, 09:18 AM
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Patriot Services Patriot Services is online now
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Originally Posted by Will P.C. View Post
When I was looking at buying a home, I was just amazed at the number of foreclosed homes I saw where you could see that someone had tried to 'fix it up'. It looked like they got halfway done and just literally walked out one day and never came back.

As often said in the car business, 'the money is not in the buy, but in the sale'

What this means is it doesn't matter what kind of crazy deal you bought the widget for and how it is 'worth 5X' the value if you can't sale it or can only sale it for a tiny profit. This is one reason you see many of the same make and models over and over at these big used car places like Car Max.
The homes I buy never even get a realtor sign in the front yard. There are many more bank owned and the upside is the bank has the resources to keep them somewhat preserved. It is not a good time for flipping 101. Good for me as I'm not competing with a bunch of dreamers that do nothing but run up prices.
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  #65  
Old 11-24-2012, 11:55 AM
kyles landscape kyles landscape is offline
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no easy money out there just hard work or luck it seems
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  #66  
Old 11-24-2012, 03:40 PM
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no easy money out there just hard work or luck it seems
There is money to be made in every kind of economy. If you've never watched History channel "The men who built America" I highly recommend it. Many of the business greats came from very humble beginnings.
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  #67  
Old 11-24-2012, 04:27 PM
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jrs.landscaping jrs.landscaping is online now
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There is money to be made in every kind of economy. If you've never watched History channel "The men who built America" I highly recommend it. Many of the business greats came from very humble beginnings.
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Great show, those guys realized the dynamics of the economy they were in. Like when Vanderbilt sold off his ships realizing that railroads were the future. Not many people have that type of vision. People should realize no matter what the economy opportunity is out there.
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  #68  
Old 11-24-2012, 06:27 PM
larryinalabama larryinalabama is online now
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I'm being careful not to overextend. Even during the heyday I flipped one at a time. When the last one took six monthes and only netted 5k in my pocket I knew it was time. A bunch of buddies got stuck with dozens of properites they couldn't unload fast enough.
Ive been holding mine and just pick up a real good deal every now and then. However I think Im going to ride out what I have till I retire, "realestate" is a ton of never ending work. Generally realestate doesn pay out till you have it for 15 years or build "spec" houses, right now "spec" building would be nuts.

Im enjoying my lawn business and its actually is a tremendous help in keeping up my properties.
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  #69  
Old 11-24-2012, 07:26 PM
kyles landscape kyles landscape is offline
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There is money to be made in every kind of economy. If you've never watched History channel "The men who built America" I highly recommend it. Many of the business greats came from very humble beginnings.
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i agree but im saying you have to work for it...too many people sit back and wait for the perfect job to come to them or just expect it to happen over night
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  #70  
Old 11-24-2012, 07:41 PM
larryinalabama larryinalabama is online now
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i agree but im saying you have to work for it...too many people sit back and wait for the perfect job to come to them or just expect it to happen over night
It takes literally a lifetime to build wealth.
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