My Plan B------> Real Estate

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Just got approved for a $2400 loan (to be converted to a grant) for owning investment property and keeping a handyman employed part time. You've got to love the ineptitude of the Trump administration.
 












anonymous said:
Just got approved for a $2400 loan (to be converted to a grant) for owning investment property and keeping a handyman employed part time. You've got to love the ineptitude of the Trump administration.
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My CPA told me that I don't qualify - even though I pay a property manager every month. So I don't want to be audited by the IRS, especially when the accountant doesn't support my actions.
 








anonymous said:
Several months from now it will be an investor’s buying market in residential real estate. It’s going to be better than 2008-2009!
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Funny, my home value has increased over $9000 the last 30 days according to Zillow...
Most homes built are nothing but shacks. Dry wall, 2 x4s, nothing really solid...They are nothing but money pits. Go to Europe and take a look how solid and well built houses are over there. And just wait what will happen to Real Estate owners who have bought houses before the crisis and then own these homes with a 30-40% decline in value and tenants that can’t pay their rent!!!! You will have sleepless nights, when the mortgage and tax bill is due....But go ahead, suit yourself, it’s not my money....You will be glad if you can find a fool that will buy this junk for 20 cents on the Dollar!!!
 








anonymous said:
Corrected for accuracy. Your trailer increased $90 on Zillow. Poor lib fool!
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Are you always such an asshole or only on Wednesdays? What on earth makes you think I am lib? There is nothing in my post to suggest that. But the level of intelligence you have displayed is astonishing. You are a few points below your messiah in the White House and now in the negative territory on the scale. Bravo, Borat would be proud of you.
 








You have to think long term. You make money in real estate when you buy it at a discount. Real Estate is going to drop a lot in the next 6-12 months. Buy it cheap and rent it out. If this becomes a depression, have the government pay you to house people with section 8.

The world is made up of people who own and everyone else.
 




anonymous said:
You have to think long term. You make money in real estate when you buy it at a discount. Real Estate is going to drop a lot in the next 6-12 months. Buy it cheap and rent it out. If this becomes a depression, have the government pay you to house people with section 8.

The world is made up of people who own and everyone else.
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I had renters that were "screened" by a management company. They were from hell...never again. If someone can't be a good renter, they should buy themselves a trailer and live in it. I am not opposed to buying land and let it increase in value. When you sell real estate there is always taxes and commission. I prefer buying stocks when they are down. Wells Fargo gives me unlimited trades without a penny commission. Can sell any time, no tenants or rent to worry about. Besides mortgages aren't free either. All in all...too much hassle for me...I have seen enough renters in WA State...the place is a total mess while they live there and especially after they live there. Usually landlords end up replacing the carpet and God knows what else. Yes, I have taken a (paper loss) lately, but my stocks are blue chip and I bought more, averaging down my cost basis, all in all, I am still ahead, because of good dividends...
 




anonymous said:
I had renters that were "screened" by a management company. They were from hell...never again. If someone can't be a good renter, they should buy themselves a trailer and live in it. I am not opposed to buying land and let it increase in value. When you sell real estate there is always taxes and commission. I prefer buying stocks when they are down. Wells Fargo gives me unlimited trades without a penny commission. Can sell any time, no tenants or rent to worry about. Besides mortgages aren't free either. All in all...too much hassle for me...I have seen enough renters in WA State...the place is a total mess while they live there and especially after they live there. Usually landlords end up replacing the carpet and God knows what else. Yes, I have taken a (paper loss) lately, but my stocks are blue chip and I bought more, averaging down my cost basis, all in all, I am still ahead, because of good dividends...
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Unless you are REAL good at buying Real Estate for rental purposes, you will not make any money given the fact that you have maintenance, taxes, mortgage and repairs. The depreciation is not nearly as good as it used to be. Prior to 1986 you could depreciate your appliances over 4 or 5 years. Reagan changed the tax laws and a lot of people sold their real estate holdings because it was not worth it anymore. A lot of people got burned holding RE in the financial crisis 08/09...The only people making money for sure are those selling investment seminars. And what is going to happen to rents and the value of your house if a major employer in your area folds or lays off many people? Sorry, go ahead if you want to, I don't recommend it...
 




anonymous said:
Exactly. When my rentals need repairs or updating, I save thousands a year!! Each of my real estate property are worth over $800k and in very good condition. I have 6 currently and in the market to purchase another one by Spring before real estate peaks again. I absolutely love the investments I've made. All my properties have appreciated to more than double just in the last 7 or 8 yrs. I'm in the mid Atlantic area (won't disclose too much) probably one of the best areas for work but I can tell you real estate is FARRR much better than any stocks, Pfizer bonus or any retirement fund out there!!! So for all of us that are already in the real estate game.. LET THE HATERS keep hating while we become millionaires one property at a time!! Lmao. I'm in my mid 30's not even 40 yet and properties worth roughly $5M baby!! Lol I laugh at all the broke haters on here.
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Real Estate worth roughly $M.... Something being "worth" $5M and "owning" it debt free is not the same! So how much debt do you have? Sorry, I am not impressed...
 




What is all this BS about equities being “better” than real estate and vice versa?

Both have advantages and disadvantages. The point of this thread is what are you going to do if your lose your job at Pfizer.

Anyone in field sales or field sales management needs to have a plan B. Being a top performer and loyal to any large employer will get you nothing in the end, you will be let go whenever it is necessary for the COMPANY’S survival.

Reps and managers get paid very well and have great perks for the amount of work they do. If you are let go you will be lucky to make 60% of what you earn now so you better have your investments in order to make up the income you will lose to cover your expenses.
 




anonymous said:
I had renters that were "screened" by a management company. They were from hell...never again. If someone can't be a good renter, they should buy themselves a trailer and live in it. I am not opposed to buying land and let it increase in value. When you sell real estate there is always taxes and commission. I prefer buying stocks when they are down. Wells Fargo gives me unlimited trades without a penny commission. Can sell any time, no tenants or rent to worry about. Besides mortgages aren't free either. All in all...too much hassle for me...I have seen enough renters in WA State...the place is a total mess while they live there and especially after they live there. Usually landlords end up replacing the carpet and God knows what else. Yes, I have taken a (paper loss) lately, but my stocks are blue chip and I bought more, averaging down my cost basis, all in all, I am still ahead, because of good dividends...
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Investing in real estate is totally different from equities. It is an inflation hedge and a great way to diversify. There are lots of tax deductions associated with investment real estate. But, anyone thinking that there is no risk or headaches doesn't understand the entire picture.

I have accumulated multiple investment properties over the past 10 years. I have learned about this from studying the market everyday and from hiring an experienced property manager who thinks like a business person. I have made some mistakes and missed some opportunities. My property manager has a very good lease that protects the landlord - and it has been helpful to weed out potential tenants who are problems. There is always someone who expects more than they deserve or who does not respect the property.

The "mailbox money" that I earn in rent goes into the business, paying off debt and making repairs and improvements. The value of my investment real estate portfolio is valued at over $2 million and I have $36 thousand in debt ( which will be paid off this year).
This investment does not fluctuate in value like the stock market, but it is not liquid.

if you are interested in real estate, learn about the market and find a good agent that can mentor you.
 












When you sell or buy a business house, it has the right to own a piece of land under it. A title is the owner’s right to own and use property, and when you buy a house, the title is transferred to you. Now this title can belong to both common tenants and joint tenants, there may be a right to survive, or there may be property in the house. In fact, there can be many confusing provisions about who owns the land that the person selling the house does not tell you about, so you need to have complete information in visit this title insurance site for more info. You get title insurance to cover this risk.
 




That is why closing on a property takes so long. Your attorney or the title company searches the title history to ensure there are no issues with the title so no former creditor etc. can come back and say they have a right to the property.

I don't know what that has to do with anything regarding the conversation though.
 




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