#121
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Re: Just got apartment # 5....3 more till retirment
[ QUOTE ]
Alternatively, house prices plummet. Rental rates are now too high and go down. His net worth takes a dive. He loses his extra cash on a downswing in poker and has to foreclose or sell at low prices. [/ QUOTE ] Actually, when housing prices go down, people stop buying and rent instead to wait out the decline. This causes apartments and rentals to fill thus making rents go up. If he's cashflow positive and building a reserve, he can wait out the downswing. It doesn't matter how he does in poker. I have a friend who was negative $30-40k a month with his apartment buildings during the housing boom. Everyone was buying, nobody was renting, his vacancy rates were sick. Now, in housing the downturn everyone is renting, he's 100% filled and his rents have all been increased. I estimate he's at +200k a month now and sitting pretty. [img]/images/graemlins/cool.gif[/img] BTW, he was buying like crazy when all apartments were empty! |
#122
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Re: Prop bet?
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kick, "i guess you missed that whole dotcom thing in the late 90s" If that's your example response, you're probably missing the whole Web 2.0 thing of the mid-2000's. [/ QUOTE ] lolo can I take your time machine doo-hickey for a spin? |
#123
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Re: Prop bet?
I know this is an old thread to bump, but I'd love an update! [img]/images/graemlins/smile.gif[/img]
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#124
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Re: Just got apartment # 5....3 more till retirment
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LOL APARTAMENTS [/ QUOTE ] Perfect |
#125
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Re: Prop bet?
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I know this is an old thread to bump, but I'd love an update! [img]/images/graemlins/smile.gif[/img] [/ QUOTE ] Lol didn't you hear? He eventually got all 5 apartments then lost them in that cali fire and didn't have insurance on any of them. |
#126
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Re: Prop bet?
you're KIDDING me right?
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#127
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Re: Prop bet?
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you're KIDDING me right? [/ QUOTE ] unfortunately no |
#128
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Re: Prop bet?
wow...sry man that sux
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#129
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Re: Prop bet?
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I thought the real estate bubble burst? [/ QUOTE ] SFRs are down in most areas, but certainly not all. Real Estate is one big pillow, if you push down on one side, the other side fluffs up. The timing of which type of real estate "fluffs up" and where, is what separates the men from the boys. Just like in equities, you can make money in any market. |
#130
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Re: Prop bet?
Yeah, the fire spread from Southern California to Washington.
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