Re: Best Recovery Chances in 2012 - Posted by Woody
Posted by Woody on April 21, 2011 at 16:04:34:
Aren’t you the one that said to leverage as much as you can in real estate back in 2006? And that real estate always appreciates?
Re: rents - Posted by Kristine-CA
Posted by Kristine-CA on April 22, 2011 at 14:23:14:
Where are you in NYC. I have friends and family, several of whom are very
young adults, in Brooklyn (Williamsburg and PP) and in the city and they
work their butts off to pay their rents, but they would never not pay. And
those rents are higher than most middle classs people’s mtg payments.
Do you need different tenants, or are you in a difficult neighborhood?
Re: the old Pittsburgh isn’t there any more… - Posted by Edwin
Posted by Edwin on April 23, 2011 at 02:02:14:
"Inner city Pittsburgh
was still pretty rough in terms of unemployment and crime last time I was
there and that was during the “boom”. Haha. Sorry, just struck me as funny. That old saying, “A rising tide lifts all boats” obviously doesn’t apply to every socioeconomic class. Criminals live in a world of their own, and doubt they are aware-or care–that there might be boom going on around them.
Re: Best Recovery Chances in 2012 - Posted by Jim Johnson
Posted by Jim Johnson on April 21, 2011 at 16:26:57:
Wrong Jim Johnson. Maybe it was the Coach. I started backing out of real estate in 2006 in anticipation of the bursting bubble. Almost made it – only lost two properties. I didn’t find this site until around 2009.
I admit I need new tenants -move from low income - Posted by DJ-nyc
Posted by DJ-nyc on April 22, 2011 at 16:30:24:
Kristine - I am replacing and upgrading my units as we speak to find good tenants in the model you just described. I think you had a question in the past and I gave you some information. Yeah I need different tenant culture. I just painted and put nice new flooring in the hallway; a plant new nice rubber tread on the staircases. I need a new tenant base. I have one more bad tenant to evict in Queens, Oh, my farm is Bklyn, Queens area. 
DJ-nyc
Re: Best Recovery Chances in 2012 - Posted by Woody
Posted by Woody on April 21, 2011 at 18:47:55:
Oh sorry, You must be a young buck. Look I’ve been through similar down turns before and we’ll pull out of this one. It’s not over yet, grass hopper.
Re: Best Recovery Chances in 2012 - Posted by Jim Johnson
Posted by Jim Johnson on April 22, 2011 at 08:39:14:
I can appreciate your experience in these matters but there never has been a time in our history when these factors combine such as enormous debt that we will never be able to repay, combined with George Soros pushing his influence and insisting that the US Dollar is no longer the world’s reserve currency at the same time that China and Russia just entered a trade agreement and decided to use their currency rather than the dollar.
I’m not sure there have been similar downturns and encourage you to at least buy some silver and gold as a hedge against the ever-decreasing value of the dollar. We’re all in this together and we have to make intelligent decisions.
Buying Gold… - Posted by Jeanne
Posted by Jeanne on April 22, 2011 at 14:15:45:
Just for chuckles, I’m going to quote Dave Ramsey:
“Gold is the Snuggie of investing. It is sold on midnight cable TV and will make you look stupid if you buy it.”
Re: Buying Gold…WRONG - Posted by Jerry Donovan
Posted by Jerry Donovan on April 22, 2011 at 15:26:11:
Quote Dave Ramsey all you want. Anyone who doesn’t purchase silver
or gold at this point in time is taking a horrible risk with the welfare of
their family. Here is what Robert Kiyosaki says about the dollar:
Please don’t let your naivete hurt your future.
Re: Buying Gold…WRONG - Posted by Chris in FL
Posted by Chris in FL on May 15, 2011 at 02:24:58:
RK has harped gold, but especially silver. Problem is, he was buying it at $3-8/ounce, and now it is already over $35 (and got close to $50). Buy at $3, sell a couple years later at $33, yup, pretty good. What the RK people also said was, when the silver goes way up, sell it and buy cash flowing real estate cheap. Last I checked, silver was way up (plus it provides very poor cash flow)! The reality is, our govt. has the dollar on a crash course with oblivion, because you can’t keep running giant deficits and creating more paper money to infinity without killing the currency… But how to know what that means about silver, gold, real estate, etc., and how far along that road things are now, is a guessing game. Have gold and silver and commodities already peaked, or will they go much higher? Truth is, nobody KNOWS… But I know if I buy houses cheap, with mortgages, and the rents pay the mortgages and all other expenses, I can carry them, and they will eventually be free and clear, and at least for now provide tax advantages. I also know TRADITIONALLY real estate is a decent inflation hedge. Plus, I KNOW if our currency and our country ‘go to hell in a hand basket’, there is a chance it won’t matter how much silver, gold, or real estate I have - what will matter most is that me and my family are safe, and/or at least that we are saved. Hmmmmmm…
Best wishes,
Chris in FL
How about Warren Buffett? - Posted by Jeanne
Posted by Jeanne on April 30, 2011 at 14:47:57:
Gold bugs, don’t read this:
Buffett harps on and on about gold. He says it has no utility, and about how silly people are who are getting in now – when gold prices are near nominal highs. “There?s no question that rising prices…can start affecting behavior,” Buffett said. “People like to get in on things that are rising in prices. Over time, it has not been the way to get rich.”
He’s listing all the things he’d rather have than all the gold in the world, because all you can do with gold is admire it or, as he says, “fondle it.”
Munger repeats what he’s said previously that gold investors are preying on fears. Gold is considered a safe haven investment, because investors tend to flock to buying gold assets when they’re freaked out about the health of other assets and the economy.
Re: Buying Gold…WRONG or RK WRONG - Posted by Raghju
Posted by Raghju on April 22, 2011 at 18:09:08:
