yep! nice chart thx for sharing, was good are to exit.
side note: I'm selling a property today that I bought for a flip
last year, been a pain in the ass, it's closing today thank god,
didn't lose, still made some money, it was a fixer upper flip.
my real estate agent who subscribed to us bought Silver about a
month ago based on my comments, when I talked to him this morning
about the closing he told me he bought more SLV today, I said DUDE,
not here, this area due for a pullback only add on a good abc
pullback - that was this morning before the metals pulled back
again he's green, that's the general public - after something
has already run like crazy they want to add
ALL rental real estate is a pain in the ass, no matter how much
profit, not worth the effort. Try dealing with tenants if you want
to go nuts. T.A. from BPT is the only way to go.
I have a group of guys (all ex marines, brothers, cousins) who
work hard and are exactly cheap, 1/4 or less of what it could cost
using standard contractors, and these guys do anything. They've
rehabbed probably 200 plus houses over the years
anyway what I've used these guys for is to find a house that is
horrid - the foundation still okay but other than that most people
would think it should be bulldozed down LOL - basically a place
that most people will not attempt - these guys clean it out, fix it
up, then I sell it and done.
When the housing market was stupid, and still is a bit, you
can't easily find a place for reasonable price that only needs some
paint etc, because they quickly get snapped up before I can act
them or find them - I find some of the turds - it ends up being a
win win for everyone if it works out - these guys get money in
their pocket, the neighborhood is improved and the neighbors are
happy because there was this vacant house that was all grown over
with weeds and an eye sour driving down prices in there area and
was not of use to anyone - now the place is made livable and
useable for someone to live, neighbors are happy, my crew makes
money, hopefully I make money - again basically a win win for
everyone, almost like doing a public service
but yeah dealing with renters sucks- I had a rental a few
years back, what seemed like a nice professional young couple moved
in, both were physical therapists working at hospital and
were very clean cut with good credit- they ended up buying a dog,
the lease was for 25 lbs and less, they got a lab puppy, of course
that's a big dog, they would leave it outside, this was a condo
building with a fence (3 other owners) the dog tore up the grass,
shit logs everywhere, which they left), which made the other owners
pissed at me, and I was battling this guy about it, I ended up
having to pay to re-sod the grass etc - renters can
suck
ha ha and these days I keep reading about squatters and
squatters rights, which just the most asinine thing, they move in
secretly, create a fake lease, then police say they can't do
anything.
These ex marines don't just roll over for that LOL, they had
that happen one time, they went to the house about 3 am, stayed in
the truck on the street, waited for the guy to leave, then went and
broke in the door, threw all that dude's stuff out in the yard,
they waited for the guy to come back LOL. And these marines are big
guys, and all have conceal and carry. these guys are not
going to go through civil courts to deal with that.
crap like that with squatters, kind of makes you wish you had a
Tony Soprano mob guy as a friend, pay him to to have his goons go
there and deal with it as well LOL
Posted by DigiNomad on 12th of Apr 2024 at 02:34 pm
Rehab and flipping is a different game. Especially if you're in
a place like the mid west and have a vertically integrated pipeline
like that (even better if you have an RE Broker and a lender in
your group). My family and most of my clients are in SoCal
and now Texas (chased out by pandemic). Trying to find a property
where the numbers pencil in SoCal is tough...unless you're
vertically integrated like that.
Posted by DigiNomad on 12th of Apr 2024 at 01:32 pm
My 1st reaction is to advise people against real estate in
general....especially residential. But, do you know the quickest
way to lose a client, especially if it's a female or a wife
involved? Advise that real estate isn't necessarily the
bullet proof investment it's cracked up to be. Might as well say
that white wedding dresses are inappropriate, drop the mike, and
walk out the door.
All you need to persuade is a few tenant/repair/lawsuit horror
stories to tell. Should convince anyone with a brain. Plus any
homeowner (not me ever again) will tell you how much time/expense
they spend on their own property every weekend/year Then multiply
it.
Posted by DigiNomad on 12th of Apr 2024 at 02:23 pm
The idea that real estate is a great investment is deeply
ingrained in Americans...and probably most modern populations (it
used to not be a thing in Japan so much...for residential RE,
but I believe that has changed). It goes against programming
so people get emotional when real estate investment is mentioned in
a negative way. It's one of our largest industries, all in
(realtors, builders, lenders, Insurers, Title, Lawyers, Home Depot,
Lowes, TILE, etc, etc.). To support the money train, they do
everything they can to keep the dream deeply ingrained in culture
(HGTV, flipping shows, etc).
Posted by rollerblader on 12th of Apr 2024 at 02:42 pm
Real Estate is a decent investment in a landlord friendly state
or provinces. Canada is tenant friendly not landlord friendly.
Tenants have 99% of the rights. They stop paying rent and the
landlord will spend a minimum of 1 year or more tryting to evict.
By that time landlord has lost thousands of dollars plus damage
caused by tenants. And there's no repercussions against the
tenants. Our Canadian government has put the homeless issue on the
backs of struggling landlords.
Posted by breakout on 12th of Apr 2024 at 02:35 pm
BEst rental ever had was managed by a realtor. I sucked at
it...let folks slide too long on rent. Sold that house later to
James Worthy. Still got the down payment copy of check. That was
cool.
Drew it when cup formed,
Posted by ruidoso on 12th of Apr 2024 at 01:01 pm
Drew it when cup formed, see X.... $26 area back test B/O area. Unlaess a war breaks out. Thanks for heads up on Renko chart:)
yep! nice chart thx for
Posted by matt on 12th of Apr 2024 at 01:05 pm
yep! nice chart thx for sharing, was good are to exit.
side note: I'm selling a property today that I bought for a flip last year, been a pain in the ass, it's closing today thank god, didn't lose, still made some money, it was a fixer upper flip.
my real estate agent who subscribed to us bought Silver about a month ago based on my comments, when I talked to him this morning about the closing he told me he bought more SLV today, I said DUDE, not here, this area due for a pullback only add on a good abc pullback - that was this morning before the metals pulled back
again he's green, that's the general public - after something has already run like crazy they want to add
ALL rental real estate is
Posted by brophy on 12th of Apr 2024 at 01:24 pm
ALL rental real estate is a pain in the ass, no matter how much profit, not worth the effort. Try dealing with tenants if you want to go nuts. T.A. from BPT is the only way to go.
yeah agree on rentals and
Posted by matt on 12th of Apr 2024 at 02:30 pm
yeah agree on rentals and the hassell.
I have a group of guys (all ex marines, brothers, cousins) who work hard and are exactly cheap, 1/4 or less of what it could cost using standard contractors, and these guys do anything. They've rehabbed probably 200 plus houses over the years
anyway what I've used these guys for is to find a house that is horrid - the foundation still okay but other than that most people would think it should be bulldozed down LOL - basically a place that most people will not attempt - these guys clean it out, fix it up, then I sell it and done.
When the housing market was stupid, and still is a bit, you can't easily find a place for reasonable price that only needs some paint etc, because they quickly get snapped up before I can act them or find them - I find some of the turds - it ends up being a win win for everyone if it works out - these guys get money in their pocket, the neighborhood is improved and the neighbors are happy because there was this vacant house that was all grown over with weeds and an eye sour driving down prices in there area and was not of use to anyone - now the place is made livable and useable for someone to live, neighbors are happy, my crew makes money, hopefully I make money - again basically a win win for everyone, almost like doing a public service
but yeah dealing with renters sucks- I had a rental a few years back, what seemed like a nice professional young couple moved in, both were physical therapists working at hospital and were very clean cut with good credit- they ended up buying a dog, the lease was for 25 lbs and less, they got a lab puppy, of course that's a big dog, they would leave it outside, this was a condo building with a fence (3 other owners) the dog tore up the grass, shit logs everywhere, which they left), which made the other owners pissed at me, and I was battling this guy about it, I ended up having to pay to re-sod the grass etc - renters can suck
ha ha and these days
Posted by matt on 12th of Apr 2024 at 02:47 pm
ha ha and these days I keep reading about squatters and squatters rights, which just the most asinine thing, they move in secretly, create a fake lease, then police say they can't do anything.
These ex marines don't just roll over for that LOL, they had that happen one time, they went to the house about 3 am, stayed in the truck on the street, waited for the guy to leave, then went and broke in the door, threw all that dude's stuff out in the yard, they waited for the guy to come back LOL. And these marines are big guys, and all have conceal and carry. these guys are not going to go through civil courts to deal with that.
crap like that with squatters, kind of makes you wish you had a Tony Soprano mob guy as a friend, pay him to to have his goons go there and deal with it as well LOL
Rehab and flipping is a
Posted by DigiNomad on 12th of Apr 2024 at 02:34 pm
Rehab and flipping is a different game. Especially if you're in a place like the mid west and have a vertically integrated pipeline like that (even better if you have an RE Broker and a lender in your group). My family and most of my clients are in SoCal and now Texas (chased out by pandemic). Trying to find a property where the numbers pencil in SoCal is tough...unless you're vertically integrated like that.
My 1st reaction is to
Posted by DigiNomad on 12th of Apr 2024 at 01:32 pm
My 1st reaction is to advise people against real estate in general....especially residential. But, do you know the quickest way to lose a client, especially if it's a female or a wife involved? Advise that real estate isn't necessarily the bullet proof investment it's cracked up to be. Might as well say that white wedding dresses are inappropriate, drop the mike, and walk out the door.
All you need to persuade
Posted by brophy on 12th of Apr 2024 at 02:00 pm
All you need to persuade is a few tenant/repair/lawsuit horror stories to tell. Should convince anyone with a brain. Plus any homeowner (not me ever again) will tell you how much time/expense they spend on their own property every weekend/year Then multiply it.
The idea that real estate
Posted by DigiNomad on 12th of Apr 2024 at 02:23 pm
The idea that real estate is a great investment is deeply ingrained in Americans...and probably most modern populations (it used to not be a thing in Japan so much...for residential RE, but I believe that has changed). It goes against programming so people get emotional when real estate investment is mentioned in a negative way. It's one of our largest industries, all in (realtors, builders, lenders, Insurers, Title, Lawyers, Home Depot, Lowes, TILE, etc, etc.). To support the money train, they do everything they can to keep the dream deeply ingrained in culture (HGTV, flipping shows, etc).
Real Estate is a decent
Posted by rollerblader on 12th of Apr 2024 at 02:42 pm
Real Estate is a decent investment in a landlord friendly state or provinces. Canada is tenant friendly not landlord friendly. Tenants have 99% of the rights. They stop paying rent and the landlord will spend a minimum of 1 year or more tryting to evict. By that time landlord has lost thousands of dollars plus damage caused by tenants. And there's no repercussions against the tenants. Our Canadian government has put the homeless issue on the backs of struggling landlords.
SPOT ON!
Posted by kingpin15 on 12th of Apr 2024 at 02:36 pm
SPOT ON!
truedat Digi on people getting
Posted by matt on 12th of Apr 2024 at 02:32 pm
truedat Digi on people getting emotional and rational about real estate if you even mention something negative
BEst rental ever had was
Posted by breakout on 12th of Apr 2024 at 02:35 pm
BEst rental ever had was managed by a realtor. I sucked at it...let folks slide too long on rent. Sold that house later to James Worthy. Still got the down payment copy of check. That was cool.
Sold all silver calls, can
Posted by ruidoso on 12th of Apr 2024 at 01:08 pm
Sold all silver calls, can buy back later. Thanks again. Realator, shoulda cut you a discount lol
I know man, he made
Posted by matt on 12th of Apr 2024 at 01:11 pm
I know man, he made a killing on his Silver - I told him she should give me break on the commission LOL