Posted by M. Osterman on July 18, 2007 at 08:34:44:
Gene,
I too am here in Cali and did the same. I know several investors that are loosing almost all of their profits because they got too greedy. The best thing I ever did was take a Bruce Norris seminar when I first started. I’m really looking forward to the next several years. I feel like I’m sitting on top of the hill as the tsunami comes in…
Mike
funny how people complain in a down market… - Posted by sarcasm
Posted by sarcasm on July 17, 2007 at 12:41:16:
They complain they can’t sell any properties right now because there are no buyers… boohoo…
Wait until its a hot market again and then everybody is whining “there aren’t any good properties to buy. Sellers won’t let their properties go at a discount”. boo hoo hoo…
Re: funny how people complain in a down market… - Posted by Gene
Posted by Gene on July 18, 2007 at 07:28:03:
I am enjoying the down market. I saw it coming and I sold most of my holdings a couple years ago. I am enjoying the time off and I look forward to buying at a huge discount in a couple years.
I have friends that are hating life right now because they bought at the top and they are loosing a good amount on money each month. They are upside down, cannot sell and they might loose everything. I feel bad for them. They got cought up in the greed and now they are paying a hefty price. There isn’t much they can do except hold on with negative cash flow, sell at a discount, or give it back to the bank…all the choices are harsh…I guess you just pick the least bad one.
Note: I am in CA so it might be different than where you live.
Gene
Re: funny how people complain in a down market… - Posted by EricW
Posted by EricW on July 17, 2007 at 20:15:27:
Funny because it is true…
Then there is all of us who simply turn our hats around and keep on keeping on.