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 zorbman
Be Prepared
Registered: 06/04/04
Posts: 5,746
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 Re: What is the best investment right now? Stocks, RE, gold, etc?  [Re: Shins]
#13579319 - 12/03/10 11:26 PM (2 years, 5 months ago) |
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Quote:
Holy smokes, Zorbman has morphed into John Maynard Keynes.
Only on Halloween. 
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Why does changing the party in power never change policy? Could it be that the views of both parties are essentially the same? - Ron Paul
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 Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: zorbman]
#13637405 - 12/15/10 04:55 PM (2 years, 5 months ago) |
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I closed on a property today. It cost 28 and it's 732' which is small, 2-2 with tile floors throughout and concrete block construction. That isn't bad for a block house in a decent neighborhood. An interesting thing happened at closing. They gave me credit for this years taxes of just under 1400 which is normal. But i looked on the property records and it seems the taxes were paid last month already. So... unless they figure it out and come after me, i will get to keep a $1400 bonus. My christmas present. And another bonus which i already knew about is that they tented the house for termites last month. I have the receipt and they paid 650 for that. If i can keep the tax double payment, that's over 2k bonus plus i got it cheaper than asking price to begin with.
They were asking 34.5 and i was going to bid 29 but i read the addendum and it said in one part that they would not pay any closing costs. Title ins alone is some money and other fees. So i offered 28. I found out later they do pay title ins. My offer was beat by another bidder but they backed out and i became high bidder. So i saved 1k by my mistake, 1.4k by their mistake and .6k by them tenting it in the meantime. That's not bad considering i can rent it easy for 700 a month, probably 750 with rent to own. That is at least 7k a year even after taxes and figuring a month a year it being empty. In 4 years it's almost paid for and in 5 years i'm money ahead even counting rehab costs which i estimate at no more than 2k. 20% a year return is not too shabby. Plus the possibility of a substantial increase in value over the next 5 to 10 years.
These houses will be my retirement money. I don't expect much out of soc sec and i have no pension. Interest on cash is next to nothing nowdays and inflation is right around the corner. When inflation comes i can always raise the rent and the value of the properties will go up at the same time. I'd rather have houses than cash and i have both. I plan to buy more houses in the coming year. I have lots of work to do on the ones i own already. At some point i'll be able to buy more houses just with the rent income. If home values stay low, i'll keep buying and buying. Why not?
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Reishi
Reishi Lover
Registered: 12/15/10
Posts: 21
Loc: Earth
Last seen: 11 months, 17 days
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13639015 - 12/15/10 10:16 PM (2 years, 5 months ago) |
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Invest in Silver now, the price is not to high per oz, but is going up
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The Best Source For High Quality Organic Medicinal Mushroom Extracts ] Best Price Around, Also With Free shipping.
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imachavel
Stranger
Registered: 06/06/07
Posts: 8,715
Loc: Florida - not listed
Last seen: 22 hours, 19 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Reishi]
#13643886 - 12/16/10 10:23 PM (2 years, 5 months ago) |
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why not do the yearly environmental commodity buy out?
http://www.apx.com/documents/APX-Trusted-Environmental-Commodities.pdf
has that ever failed?
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: imachavel]
#13646308 - 12/17/10 11:41 AM (2 years, 5 months ago) |
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Bad news on my last purchase. The bastards caught the error and want their money back, over 1400. I'm not sure what grounds i have to keep it. However, there is a tiny silver lining. The crooks overcharged me on doc stamps to the tune of $112 over and above the amount set by law. They already charged me 250 for settlement costs which is above average. I didn't say anything about the 112 because i (thought) was getting an even larger bonus. It figures on stuff like that that they would check ever tiny thing. I figured if i heard nothing about it for a few weeks i was home free but today i got the call and an email. I did put in my claim for the 112. I'm pretty sure they will cave in on that rather than go to court and try to explain the overcharge and pay lawyers fees. If i win any part of my case i don't believe i would be stuck for their legal costs. Its a game of chicken. I will say i'll keep your 1400 unless you settle. At some point i have to decide if i want to just cave in myself and pay it. But they chiseled me, it was a bunch of lawyers who wrote up the documents so you expect to get screwed. I figure they will settle.
Both gold and silver will go up.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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imachavel
Stranger
Registered: 06/06/07
Posts: 8,715
Loc: Florida - not listed
Last seen: 22 hours, 19 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13655231 - 12/19/10 10:57 AM (2 years, 5 months ago) |
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you want a smart investment?
buy stock in activision before the next call of duty game comes out. i guess now they are already pretty big you might not make more than 25% but man when those first 360 cod games came out your stock would have sky rocketed
of course activision is an old company, i guess they've been making games for who knows how long
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: imachavel]
#13715002 - 01/01/11 03:01 PM (2 years, 4 months ago) |
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I now have a bid in on a 2-1 block, listed at 27k, 798' with an enclosed porch that gives it over another 100' plus a carport. It has tile floors, cha, it does need a lot of work. I figure some roof work because it has stains in the kitchen area ceiling but only there so it must not be too back. Some windows are boarded up and they are old windows. Not wood or casement but like 30 - 35 year old aluminum crank windows. Needs painting inside, some new interior doors and a little of this and that. I figure i can fix it up nice for 4k maybe a little less, maybe a little more. I offered 24, we will see. I should know about the offer by monday.
I'm thinking it might be good to use a property management company. OTOH, they charge 8% which is a month rent every year off the top. But it means i can travel and not worry about collecting rent, starting evictions, fixing minor things. They get 50% of the first month rent if they find the tenant. I'm thinking i'll just find or draw up the lease forms myself and i can get background check forms and maybe all of the forms preprinted. I'll just put in free online ads, rent it myself and save the fees. I figure just with the 3 i have i can get 2500 a month minus about 400 in taxes + misc giving me income of about 25k a year minus occasional months vacant and income taxes. When i find my 4th house that will be even more. If i get this block house i should be able to get 750 easy or probably 800 a month. I could retire on that. Not that i work now but all i would have to do is collect. I can do that.
I figure to clear close to 20% a year on investment just from rent. Then there is price appreciation which i don't expect to collect on for 5 to 10 years. If property never goes up, i'll just have to settle for that 20% return, darn it. But that means inflation hasn't kicked in and 20% will be golden. And we know inflation will kick in. It's already kicking in but the govt lies and denies it. Denial isn't just a river in egypt its where the govt lives. The poor old folk got no cola this year or last but we all know prices have gone up.
In other news, gold is around 1420. I have a standing order to buy silver at 20.71. Yes, i know thats a joke right now but if war breaks out, if europe stumbles, if a major country starts sinking, the market could crash and metals follow the market. I could wake up and own 2000 oz at that price. Who knows?
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13763771 - 01/10/11 04:33 PM (2 years, 4 months ago) |
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I'm having trouble getting the work done on the house i bought in nov. The guy seems like a nut. Does good work but takes forever and doesn't want to finish. I met a guy today to do work on the house i bought in dec. If he works out i'll let him do some other work.
The one that's taking so long to get finished i just showed to some potential buyers last night. They say they are interested. I quoted them 55 and said i'd take 10 down and a 1 or 2 year balloon. I said i'd take out the tub and put in a walk in shower. Probably cost 5 - 600 for that. I'll have close to 40 in it with closing costs and everything. Still, not a bad profit plus i'll get interest on the 1 or 2 year balloon.
I hope to get a couple rented in feb and maybe one sold. I have 2 interested in renting the one the people wanted to buy so i doubt i'll have any trouble renting it. I didn't even put it up for sale or rent and have several interested in renting and 2 said they might want to buy it. It literally is selling itself. Who ever heard of selling a house without listing it, advertising it or even so much as putting a sign out? It isn't sold yet but i think i have a winner.
I have a couple hud properties i'm looking at and a foreclosure but i'm in no rush. I have 3 to fix up now and if i bought another it would just sit. I'm thinking that renting them out might be better than flipping but i'm open to both.
Gold is down a little, i just looked to see if my buy order for 20.71 on silver was executed but no.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13865727 - 01/28/11 02:33 PM (2 years, 3 months ago) |
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The latest update is i have one house rented, another one fixed up and the third one arranged to be worked on monday. He says he can do it all in one day. This is the same one who just fixed the little concrete block house yesterday. He fixed the roof, installed a new window, installed 5 blinds, a new drywall tile in the kitchen, painted the kitchen ceiling and an interior wall all for $200. All i have left to do on it is some touch up in the other bedroom, put in a shower curtain and rod. I have the touch up paint already and the curtain stuff. I can finish that today or tomorrow and put it up for rent maybe sunday.
The house i did a lot of work on i finally got finished. I have about $2200 into fixing it, paid 36.1k and a few odds and ends lets say 38.5 total. I found a tenant who was just driving by and saw it. The workman took his number so i never even advertised. I picked up the check today and a signed lease. 850 a month with first, last and 500 security. And he insisted in paying an extra month in advance so he would not have to bother with it next month. That's the kind of tenant i like.
At 850 a month thats 10.2k a year. Deduct 1300 taxes and round it down to 9000 a year clear. In 5 years i have my money back and a few thousand profit. That's a clear return of 20% a year even figuring in a month or two vacancy per year. Full occupancy means closer to 23%. How much are cd's paying? not that much. Plus this does not figure in appreciation on property value. Since i bought at the low point of the real estate cycle, its reasonable to assume i'll get plenty of appreciation, maybe another 20% a year. But even if values remain flat i'm getting 20% or more just on rent.
The block house i paid 28 for and it cost me 200 labor plus 230 materials and a few odds and ends, lets say 450 total to fix up. I can get 750 a month easy. places to rental are hard to find for some reason. I guess because so many foreclosures are sitting empty. @ 750 a month thats 8400 a year or about 7k clear. In 5 years once again i have my money back plus a profit and it's paying off at 20% or more return annually. Plus appreciation too.
The 850 a month house i mentioned i gave them a rent to own option with total price of 59,900. I have 38.5 in it so i think i'll make out alright if he takes me up on it. Plus the rent because only 250 a month goes toward down payment so end of the year i have another 6 k in rent after taxes on top of the 59.9 sales price. A fast 27k+ in a years time is not too shabby. Thats about a 70% return on my money in a year if he buys. If he doesn't buy, i just have to put up with cashing those rent checks and making 20% plus appreciation.
The third house should be fixed up next week and perhaps on the market that weekend. I'll be looking for more purchases now. I just had to catch up on my backlog a little.
A little bonus is the contractor has a relationship with the local lowes and gets from 10% to 20% off on everything he buys. He saved me about $30 just on this last job. He says if i give him this next piece of work he will tell them to sign me up on the same program so i get the discount without him being there. I already talked to the guy at the contractors desk so he will remember me next time. Naturally i'll let this guy do the next job, i was quoted $2500 for doing the kitchen and he said $200 labor plus materials which will come to around 1000. Yeah, i think i'll let him do it. He did a good job on the last thing.
I hope to pick up 1 or 2 more cheapo houses before prices start going up.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
Edited by Stonehenge (01/28/11 03:55 PM)
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SheikCorp
Stranger
Registered: 01/09/08
Posts: 2,147
Last seen: 13 hours, 31 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13870495 - 01/29/11 01:01 PM (2 years, 3 months ago) |
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Wow I need to find a new area. Prices are out of this world around here.
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: SheikCorp]
#13894192 - 02/02/11 04:43 PM (2 years, 3 months ago) |
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Yeah, i'm in a good area for buying r/e.
Today i just put in 2 more offers. Both on concrete block houses. One was 800', 3-1 with cha but the outside unit was gone. It had some termite damage on the outside but not throughout the house. One room had a lot of drywall damage. But, it had tile floors thoughout and they looked nice. The bathroom was nice, tile and everything. They were asking 41.9 which is ridiculous, after 7 months on the market they finally dropped to 27.9. I offered 26.1.
The other one is 3-2, cha, 1100' tile floors, nice thoughout. Needs fridge and stove, some work on a couple interior walls and paint but thats about it. Nice attic, roof looks ok, the other one had almost a flat roof with no attic access. They were asking 33.5 and had several offers already. I offered 38.1 with 5k earnest money and could close in 14 days. It's a corner lot and has a large storage shed in back. I doubt i'll get it, i might not get either and the other one has an offer on it too.
They are both in the area where my other investment properties are. The nicer one will rent for 900 easy and the little one for 750. I could probably get more than that. Even after fixup i'll make 20% or more on rent. The guy who did the kitchen and the other job i let him do the floor on another house.
I forgot to mention about the kitchen. On the little block house i got for 28, he did the roof plus installed a window and some work in the kitchen plus some inside painting for $200 plus it cost me about 250 in materials. The kitchen ended up costing me about 1050 with materials and labor and looks really nice. It has a stainless sink, new formica counter tops, wood cabinets we stained and looks great. He also did some work on a couple doors no extra charge. Today he urethaned the hardwood floors on that house for 100 plus 30 in materials.
He got me in with lowes and i got the discount on the materials for the kitchen, averaged about 12%. They gave me an application for a lowes business credit card. I'll get 10% off on every purchase from now on and big purchases get even more. Some items more than 10% if they are making more on it even if i buy just a few bucks worth. Not bad.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14130387 - 03/16/11 02:07 PM (2 years, 2 months ago) |
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I did not win either of those houses. Not even the one i offered 5k over asking. I was told i was in second place and if the high bidder can't come through i'll be next up.
Yesterday i bid on 2 more houses. One was block, almost 1000', 3-2, had central but only the duct work remains. It does have window units. Decent shape but needs a few inside doors, some minor work, this and that. I figure 1 to 2k will fix it up. It has a storage unit at the side which someone was remodeling into a guest house. It has electricity, wall ac, water hookups and they were starting to install a shower. Several of the interior walls are just framed and need drywall and paint. They were asking 30, i offered 32.1
The other was small, just under 700', frame, 3-1 with a garage. Not in bad shape, it needs a patch on one spot in the roof, minor fix up etc. They were asking 19.9, i offered 21.1. I think i could get 700 a month out of it after it's fixed up. It has wall units too. No stove or fridge. Maybe 2k to make it nice.
I bid on a small house last month. It was under 700, needed a lot of work, had termites, wall and ceiling damage, needed paint, ac. They were asking 19, i offered 14 and was turned down. I'm sort of glad i didn't get it. It was a dog.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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The Ecstatic
Chilldog Extraordinaire
Registered: 11/11/09
Posts: 6,492
Loc: 'Merica 
Last seen: 20 hours, 20 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14131196 - 03/16/11 03:57 PM (2 years, 2 months ago) |
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man, I wish I had the capital/job security/credit history for a nice little fixer-upper property. Prices are so damn low in my city.
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: The Ecstatic]
#14164851 - 03/22/11 04:10 PM (2 years, 2 months ago) |
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It appears i didn't get either of those. I got no reply, you would think they would give you a yay or nay. But noooooooo. One of them was a govt listing. They asked 30, i offered 32.1 and no reply. It's still in the mls as active asking 30 but no reply. I have my eye on a couple of short sales. Things are looking so bleak i have to consider them now. Sales of homes are picking up and so is the competition. I'm glad i was able to pick up a few. If i don't get any more it won't be a major blow.
Gold keeps going up, oil goes up and down, mostly up. Japan is a big question mark. When the worlds #3 economy tanks, this is not good for the world economy. They are deeply in debt already, much worse than usa, greece, portugal or ireland. And now much of their industry has been shut down, the govt has to focus on relief efforts and it will cost many billions to rebuild. This is not good. And then there is the threat of radiation circling the globe.
Put those trailing stops on all your long positions and mostly don't go long. Gold on the other hand has a shiny future. In usa, inflation is heating up. Govt is just about broke and it's getting harder to borrow and the big spenders want to keep spending. What is next?
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14430439 - 05/10/11 05:38 PM (2 years, 15 days ago) |
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I've had no luck picking up r/e, it seems we have bottomed out in my area and sales are going up. Recently there have been less foreclosures on the market so sales are down. I just put in an offer on a 2-1, frame, cha, tile and wood floors, not in too bad a shape, might take 2k to make it nice. They were asking 22.5 and if not for the neighborhood it would be a good deal. But there is a mini junkyard next door, the neighborhood is iffy with some trailors and a few nice houses. I figure it would make a good rental. I offered 19.1, we will see.
Gold is still over 1500 even with the pullback on commodities. Make no mistake, commodities are headed in one direction, up. But we will see corrections now and then. Inflation is coming, just like a giant tsunami or storm it will blow away those without a good foundation. Durable goods and commodities will do quite well. People got to live somewhere so i figured r/e to diversify my portfolio. I have enough gold, i bought a few houses in the last year or so. If i don't get any more i'll still be ok.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14466841 - 05/17/11 10:22 AM (2 years, 8 days ago) |
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I got a nibble on the last offer. Yesterday my agent called and said i wasn't high bidder but the high bidder backed out. They made a counter offer for 20.5, i had offered 19.1 and the asking price was 22.5. I made a counter to the counter of 20 even. I haven't heard back yet.
The dollar keeps dropping and politicians are playing games with the budget. If the clowns in congress don't slash spending and get us on a steady track, you will see some major fallout. The stock market has been dropping lately. No one knows what is going to happen. The end times people see all the signs they have been waiting for. I'm getting a little uneasy myself. Batten down the hatches!
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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meams
Blessed
Registered: 01/11/05
Posts: 17,500
Loc: In a Tree
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14467006 - 05/17/11 11:09 AM (2 years, 8 days ago) |
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You should start a: Stonehedge real estate progress thread
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
Last seen: 9 hours, 36 minutes
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: meams]
#14472231 - 05/18/11 11:12 AM (2 years, 7 days ago) |
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meams, this may come as a big surprise to you but many people are interested in other investments besides the stock market. I hope you were sitting down when you read that and it wasn't too big a shock for your system. Many people are interested in precious metals, real estate, starting a business, and other things that could be considered investments and that people have made good money on in the past.
The latest deal fizzled out. They made a counter offer and i took a second look at it and saw more bad things about it and declined. The back of the house was right on the property line which i'm sure is against code. It was next door to a mini junk yard and less than 100' from a railroad track. It had no attic access at all yet it had a 4' tall attic.
We hit our debt ceiling already and they are juggling paper to cover it over. They figure they can keep juggling until the first part of august and then the whole political clown act falls apart. Is no one concerned about this? You can use your stock certificates to wipe your butt in most cases if usa defaults. The rest of the world will come tumbling down along with us but that is no consolation.
You can tell your grandkids you remember when people would kill for one of the old $100 bills which became worth about as much as confederate money after the big crash.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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meams
Blessed
Registered: 01/11/05
Posts: 17,500
Loc: In a Tree
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#14472277 - 05/18/11 11:30 AM (2 years, 7 days ago) |
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lol. your first paragraph makes absolutely no sense. All I did is recommend you create a thread to track your real-estate dealings, as its clearly all this thread has degenerated to.
Plus, I think itd be a fun project to follow along with.
Dont be so defensive it makes you look novice.
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,786
Loc: S.E.
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: meams]
#14473477 - 05/18/11 04:02 PM (2 years, 7 days ago) |
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"its clearly all this thread has degenerated to"
My mistake for thinking you were criticizing. You meant it as a compliment.
No problem, we are just here discussing stuff. My little r/e dabblings aren't important enough for that. But some people are interested in how to get into it and what sort of deals i'm finding in my area. Even buying a house to live in is definitely an investment and takes careful planning. If anyone has questions about the ins and outs of getting a mortgage, buying from govt programs or the like they can post them here. I may not know the answer but someone else might.
There are ways of buying houses even if you don't have money or not much. I prefer going after cheaper properties and paying cash so i don't have to jump through as many hoops. But if you don't mind a little paperwork there are govt programs that will get you into a house at a good price with very little down. In some cases you can borrow money from the govt to fix it up. Usually those programs are for people who plan to live in the house. You have to promise not to sell it for a year. There are other ways too.
1000 shares of gm @ $50 each might have seen like a super solid blue chip investment just a few years ago in '07. Today, those shares are worth basically nothing. $50k in a house a few years ago would not perhaps be worth that much today if you bought right at the peak of '06 but would be worth something and you could live in it and have the likelihood of the value going back up. Not having to pay rent for 4 years is worth what, $800 a month? Probably more than that so the person got 48 x 800 or $38,400 worth of rent and the house would still be worth probably at least 1/2 what they paid for it unlike the shares of gm. In a few years the value goes back up and by then they have the house almost paid for just using what they would have paid in rent to pay the mortgage instead.
That's buying a house at the peak of prices. Buy today at the bottom of the cycle and you will do much better.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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