'Foreclosure King' Says Rent Now, and Buy In 2010

Discussion in 'Economics' started by ByLoSellHi, Oct 27, 2008.

  1. clacy

    clacy

    Ya, a few weeks ago, I was online and found 06 Tahoe with 30k miles for $21k. Looked brand new and was loaded. Same vehicle probably cost $45k two years ago (new).

    $24k loss on a vehicle that you drove 30k miles.
     
    #31     Oct 28, 2008
  2. jem

    jem

    I just bought a 3 year old tahoe z with 40,000 miles leather and sunroof for 10,000. I paid my father what the dealer offered on a trade.
     
    #32     Oct 28, 2008
  3. clacy

    clacy


    Well done. Now gas is even coming way down. Perfect timing.
     
    #33     Oct 28, 2008
  4. jem

    jem

    well after losing 3 quarters of my net worth in florida real estate after almost getting out on time. I was due to have one good trade.
     
    #34     Oct 28, 2008
  5. Condolences. If it helps - real estate wipe outs everywhere.

    I personally know and see men on a daily basis who are monetary and psychological shadows of their former selves - selves of just 3 years ago.
     
    #35     Oct 29, 2008
  6. Ouch! You'll be OK, you still have some left and are not going to gamble in RE again... right?
     
    #36     Oct 29, 2008
  7. Mecro

    Mecro

    Ok so this guy is practically homeless, getting fired from low-wage odd jobs, his wife is pregnant again and somehow he starts buying & selling homes all of the sudden?

    I want to know the details behind THAT. I love it how in any of these amazing rags-to-riches the most important details are always left out.
     
    #37     Oct 29, 2008
  8. Mvic

    Mvic

    Sorry to read that Jem, from reading your posts you don't come across as a quitter nor a loser so you will likely make a good comeback. Best of luck to you.
     
    #38     Oct 29, 2008
  9. jem

    jem

    Thanks. No worries. Things are pretty good.
    I am back in San Diego, making money and trading in the mornings. I hope to rebuild my trading account over time.

    I intend to buy real estate again. I had some good profits in real estate in the past. In fact I had plenty of time to get out with a profit in Florida.

    It was just too tough for family reasons. I won't bore you with details but think pregnant wife wanting to nest in the house you were building on spec. Causing you to turn down an offer on the spec house and making it very difficult to sell the house you were in... while walking away from the deposit on a third property.

    I hope to buy right as Obama's socialist policies leave all in despair. If obama does a good job - I will be happy renting.
     
    #39     Oct 29, 2008