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#31
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![]() Thanks, Snow. Great post. I liked specially the real state "slang". |
#32
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$250+/hour at 2/4 seems a bit high unless you play more than 4 tables. At 4 tables 250/hour would take about 7.5PTBB/100 to achieve I believe. [/ QUOTE ] Most regs at 1/2 and above play 8-9 tables maybe more. |
#33
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[ QUOTE ] $250+/hour at 2/4 seems a bit high unless you play more than 4 tables. At 4 tables 250/hour would take about 7.5PTBB/100 to achieve I believe. [/ QUOTE ] Most regs at 1/2 and above play 8-9 tables maybe more. [/ QUOTE ] i'm considering dropping to six actually. its a tough choice |
#34
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6 is my optimal MT ratio
BTW jay I dont think most regs play 8+ tables. Ive never sat down and checked to see how many tables all the regs play but intuition tells me that most of them arent mass tablers |
#35
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6 is my optimal MT ratio BTW jay I dont think most regs play 8+ tables. Ive never sat down and checked to see how many tables all the regs play but intuition tells me that most of them arent mass tablers [/ QUOTE ] i think this is certainly true at NL1000 at NL2/4 and 3/6 there are people (like me!) that are playing 8+ but i'm getting the feeling i'm playing my A- game at best (usually in the range of B+ to C-), but playing 6 i ge the chance to play an A+++ game. |
#36
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Most regs are probably 4ish, most GOOD regs are probably 6 and then there are either some nits at 8+ or very good MT'ers.
Good post snowbank, definately a nice read and I'm trying to get into this stuff. One thing though ... As River and Mike have pointed out, I seem to lose in this. Now, I'm sorry, but no Tech graduate would EVER lose to a UGA dropout in scrilla investing. |
#37
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Good read
From my limited knowledge if the property market goes down then your losses are leveraged as well. You should really point that out. So if Clayton's 10 houses depreciate by $50,000 ea over the same period then he suffers a large loss. With the property Boom over the last decade or so people forget that property prices can go down. I don't know if they will over the next 10 years but its not all beer and skittles. |
#38
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I'll read this again later today. But I have been a bit worried about the RE market: It seems to me a bit like I'd be getting in too late - I've missed the rush. I worry that the people who say otherwise are just "running good" in the RE market, and so naturally I'll only hear from those who have had a good meeting with variance. As a poker player, could you tell me how you feel about that? I don't really have the spare money for this right now, but there's no reason why I wouldn't in the next year or so. My savings are about ~$40k, $30k of it earning 5.8 to 6% interest, the rest of it either in my current account or earmarked for a probably risky football betting computer model :] What kind of money would you need to consider starting in RE? [/ QUOTE ] As far as "missing the rush", you aren't going to be able to just buy a property and have it go up a TON, like people the last 5-10 years have done. The "boom" is over for the most part. However, prices long term will continue to go up, as there's only so much land for houses, and there's always going to be more and more people needing housing, especially in the US where everyone wants to move here. You will hear people all the time say, "don't buy real estate, it's crashing." For the most part, imo these are the same people who say, "don't play poker, you'll always lose in the long run." Some real estate markets will have to correct themselves, because speculative buyers(often newbie investors) were driving the prices up past what the true demand was for the houses. So when a lot of people decided to sell at the same time, now there becomes more supply than demand, and prices will stop going up, and in some areas decline, until prices correct themselves. Long term real estate has always gone up long run. If you are an area where where prices have slowed, or gone down, you WANT to buy, because it's a buyer's market. That's where a lot of people go wrong. They say, "ohh, houses aren't at their highest price anymore, I'll wait until they go up again, because it's too risky." Why would you wait until the price goes up to buy. Buy low, sell high. Prices go down because of lack of demand versus supply, whether it's because of new products(aka, new construction), or too much supply for the current demand(too many houses on the market for sale compared to buyers at the time) If you went to the grocery store and noticed all the toilet paper was for sale, you wouldn't say, "nooo, prices are going down in the toilet paper market, I'm not going to buy any until prices go back up." Hell no, you'd load up on a bunch of toilet paper while it's cheap. So often in these slow markets that have seen a correction, it's a good time to buy. As far as those real estate "players" who had a good meeting with variance, yes. It's not as easy to get as lucky as a lot of people did who just bought speculatively and made a ton of money getting lucky by owning during a boom. You asked what kind of money you need to start investing.... really depends. I mean, you could buy a house in upstate NY for $40k, put some money down, with closing costs you could probably get into the deal for under $10k. You probably would make very little, if any cashflow per month, and may not be worth your time, but the point is you can get in very cheaply. Often in real estate if people find a deal, and don't have money, they partner with a money parter. You don't need as much as people think to get started. |
#39
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Happy anniversary, snowbank, and thanks for the great post. This is something I think a lot of SSNLers could benefit from understanding. [/ QUOTE ] Ya Grunch, I agree. With so many ssnlers making good money, and very little investing information talked about, I think it's good stuff to know. With a ton of the age range of ssnlers 18-25, with the right investing, a LOT of ssnlers have the potential to be retired in their 20's or 30's. |
#40
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I enjoyed this a lot. Will reread a few more times. The roth ira thing is one of the most important things you can do and cant be reiterated enough. [/ QUOTE ] Ya, Roth is money for anyone with earned income. [ QUOTE ] One other thing I took away is that Carrotsnake is dumber than Clayton. [/ QUOTE ] I've already gotten heat from Carrot about this. Maybe I'll have to have a part 2 to that story where Carrot busts everyone in that high stakes poker game he was headed to. |
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