Posted on July 21, 2008 @ 11:02 pm - Written by BawldGuy
Leave, you say? No, still live here, just take your investment capital to places where it will actually do, well, what it’s supposed to do. Grow. Want income? Whatever yer gettin’ in California, it’s easily more likely than not, you can do better elsewhere.
This is common sense. Properties requiring upwards of 40% and more to merely break even each month, aren’t candidates for capital growth or cash flow for serious investors.
I’m in San Francisco tonight. There’s a conference tomorrow offering a rare treat. I get to listen, take notes. and get to learn. There’s gonna be a bunch of very bright hi-tech types showing guys like me how best to improve what I do without makin’ it seem like rocket science. Works for me. It’s not about real estate. It’s about helpin’ me do what I do best.
It’s funny though, talkin’ with NoCal people. Their real estate world is skewed to say the least, relatively speaking. Prices that make San Diego income property owners pay attention, are high indeed. Still, price differences aside, both regions think fundamental truths about their markets haven’t really changed. Armed with this false belief, they blithely continue down the road their various strategies have taken them.
Posted on July 20, 2008 @ 8:16 pm - Written by BawldGuy
An oldie but surely one of the classics. Eric Burdon and The Animals sing, for the very first time, It’s My Life. Which of course is the agenda for all of us here at BawldGuy Central. A Purposeful Plan ensures when your retirement becomes reality, it’ll really be your life.
By the way, notice the decidedly obvious PC violation on the wall at the beginning of their song. Couldn’t get away with that these days.
Posted on July 19, 2008 @ 3:18 pm - Written by BawldGuy
I’m gonna let this one speak for itself pretty much. Real estate investors might relate it to having confidence in your research. If ya know what ya know — act on it. Anyhoo, enjoy. I sure did.
And yes, it is a true story. That’s what makes it so cool. Ya can’t make this stuff up.
Posted on July 19, 2008 @ 12:01 am - Written by BawldGuy
This is yet another recession predicted for nearly a year that hasn’t materialized. MSM (mainstream media) is desperate to create the perception if they can’t report the reality. This time they’ve even gone as far as using the ‘D’ word, depression. ‘Course they’ve backed of that bit of unintentional comedy, as in the six months or so since they first used it, they can’t even coax a recession to appear.
Does this mean there won’t be one? Hardly. But I’d ask you to consider a couple facts.
1. Recessions can be pinpointed as to their beginning and end only through the rearview mirror. Time passes and we’re able to look at the numbers which indicate a recession has begun — or in the case of the last seven years or so — hasn’t begun.
2. Recessions are like pregnancy, at least in concept. You are either in a recession or you are not. Ever met a woman who was kinda sorta pregnant? Me neither.
But enough. The point is simple: The reality of a recession’s existence isn’t open to debate. It has a finite, and long accepted definition which ain’t rocket science, regardless of what MSM would have readers believe. Simply put: Two consecutive quarters of negative GDP growth. When that happens a recession exists. If it ever happens this year or next, you’ll know. The headlines in the MSM will probably be in four inch tall, bolded fonts. Read the rest of this entry »
Posted on July 18, 2008 @ 1:14 am - Written by BawldGuy
Banks goin’ down, Fannie and Freddie gettin’ help from Uncle Ben, DOW down, DOW up, Dow up again. Presidential election promising to be the most definitive since Reagan vs Carter. Lenders turning underwriting standards for real estate investors into a sitcom. Melodrama is easily more accurate, but laughing is the better choice here.
It might, no, probably will get a little darker out there, but not much IMHO. I say that fully cognizant of the fact it could all go to hell in a hand basket. Since this ‘darkest’ time is not nearly as dark as one or two I’ve experienced, I’ll go out on a limb, saying the ‘hand basket’ scenario is a 1,000 to 1 shot. (An scientifically empirical number, of course.) Let’s just say we’re edging towards the whole darkest before the blah blah blah. Just get out the lantern, alright?
Another region which was hit stoopid hard, has begun to emulate Phoenix as it relates to REO sales. (Bank owned props) In plain English, San Diego is now seeing goodly numbers of bank owned homes selling above listed price with multiple offers to boot. And yeah, I know it’s part of marketing strategy. Still, listing under market to generate multiple offers can’t work if the demand isn’t there. Duh. That demand wasn’t there very recently. Read the rest of this entry »
