More Moveon Lefty Morons

uscitizen said:
No one listens to uscitizen. Listen they should though.
Click to expand...
Christ, this is deja vu. We've been talking about this for as long as I've been on this site.

I 'bought' a house last week (took title is a more accurate term). It cost me $1000 out of pocket and I took over a mortgage of ~$26,500. The PITI is $264.52/month. As-is it's will appraise for $40,000. Needs a roof, some rock, new HVAC, carpet and paint. Took hard money I/O for fix up. The roof will be finished this afternoon. Rock by the weekend, paint and carpet next week. New HVAC will go in about 5 seconds before the new tenant. High speed turnaround, baby.

Will rent for $550 (closer to $600 if I upgrade to section 8 standards). I'll roll the financing and take a cash out refi in a year. So in a year, I'll have paid the hard money balloon, extracted some cash to put in my pocket - still leaving 10% equity in the property - and have a monthly cashflow of ~$200 after ongoing maintenance. Infinite ROI! :cof1:
 
Last edited:
As I said many times the economy is like a big rock with lots of inertia. But once things are in place to kill the inertia it will slow down. Just a matter of time.

Inertia will aslo be an issue on speeding it back up.
 
Troglodyte27 said:
Christ, this is deja vu. We've been talking about this for as long as I've been on this site.

I 'bought' a house last week (took title is a more accurate term). It cost me $1000 out of pocket and I took over a mortgage of ~$26,500. The PITI is $264.52/month. As-is it's will appraise for $40,000. Needs a roof, some rock, new HVAC, carpet and paint. Took hard money I/O for fix up. The roof will be finished this afternoon. Rock by the weekend, paint and carpet next week. New HVAC will go in about 5 seconds before the new tenant. High speed turnaround, baby.

Will rent for $550 (closer to $600 if I upgrade to section 8 standards). I'll roll the financing and take a cash out refi in a year. So in a year, I'll have paid the hard money balloon, extracted some cash to put in my pocket - still leaving 10% equity in the property - and have a monthly cashflow of ~$200 after ongoing maintenance. Infinite ROI! :cof1:
Click to expand...
YOu sound like a graduate of Rich Dad Poor Dad. WHen I started doing that I was AMAZED at the number of people that will sell a house on a real estate contract, how easy it was to fix up the house and how much simple improvements increased the value of the house. Every 4 to six months there is more money for another rental prop on another REC.
 
yeah money to be made there. To me though being a landlord is too much trouble. It is bad enough if my water heater quits in the middle of the night , or a drain stops up, or a leak, etc...
then the deadbeats....
 
uscitizen said:
yeah money to be made there. To me though being a landlord is too much trouble. It is bad enough if my water heater quits in the middle of the night , or a drain stops up, or a leak, etc...
then the deadbeats....
Click to expand...
You hire a management company when you get a few of them. It cuts down on the boring parts.
 
In most places you are supposed to have liscenced pros doing the work anyway aren't you ?
Once you rent it out that is. You can usually do the initial fix up yourself.
 
Darla said:
This is amazing. How many of these companies can the FED funnel billions of dollars to??

I don't have Toppy's economic background and genius, but this seems rather extraordinary.

"A.I.G.’s extraordinary move of reaching out to the Fed for help may spur other non-investment banks to try a similar move. Companies ranging from General Electric to GMAC have been hurting badly and would desperately love the liquidity that the Fed would provide.

Yet it is not clear whether the Fed would acquiesce to A.I.G.’s request."

http://www.nytimes.com/2008/09/15/business/15aig.html?hp
Click to expand...


America is a plutocracy and, hopefully, sooner or later Americans will be forced to wake up and recognize that we are governed by corporations, not the American people.

Unfortunately, I don't believe we will wake up in time to save this nation from its inevitable fate.

Welcome to the Matrix.
 
uscitizen said:
The matrix can be reprogrammed unlike reality.
Click to expand...

No one wants to talk about reality my brother.

No one wants to take the red pill.

Illusions work just fine.

The Matrix is the perfect metaphor for what America has morphed into and Americans have been reduced to the simple batteries that makes the machine go.

Speak no evil, hear no evil, see no evil .. some call it "patriotism"
 
I thought that Top was in San Francisco with “ a beautiful woman”???? She must have another customer to service, because he’s been here for hours??
 
You must log in or register to reply here.
Back
Top