Need your help again, sorry. Another tenant. - Posted by Corine

import · July 14, 2008, 10:14am

Without going too in depth - Posted by Rich-CA

Posted by Rich-CA on July 14, 2008 at 10:14:14:

The point I was making is kind of the flip side of what you are saying. In the words of Rick Warren, “Just because you pick up a pair of headlights and stand in the garage does not make you a car.” Likewise, I was saying that just because a person goes to church means nothing more than they are going to church. It says nothing of their eternal condition, morals or character.

Corine was making an assumption of character based on attendance that was contradicted by the person’s behavior. The thrust of my post was that behavior is the best indicator of a person’s character.

import · July 13, 2008, 2:05pm

but you don’t seem to want to pay … - Posted by steve

Posted by steve on July 13, 2008 at 14:05:54:

an attorney to get it done.

import · July 13, 2008, 11:47am

IB is right - Posted by Rich-CA

Posted by Rich-CA on July 13, 2008 at 11:47:58:

I have run into people who have this down. I never start by assuming they are lying to me but I keep an eye on things once the pattern starts just to see which way it goes. I make suggestions and see if there is any action. If there isn’t, I start to look at the drama as going down the bad route. I step up property condition monitoring. Again to verify if I need to accelerate matters and to see if the person really is playing me.

import · July 13, 2008, 10:16am

Corrine be careful… - Posted by IB (NJ)

Posted by IB (NJ) on July 13, 2008 at 10:16:01:

Alot of these guys are so good at conning you into believing that they are really trying when all they are really looking to do is buy more time and live off of someone else’s dime.

I just don’t buy the "I don’t know how to find out about social services’ routine. After 8 years of working with people/tenants who are on some sort of public assistance, I have come to the conclusion that the money is out there but will only be obtained by those who get out there and apply for it. On all levels, whether it’s a school voucher for a child to attend a better school or a contract to do work for the government, the only people who take advantage of these programs and take their lives/business to the next level are those who are ambitions and who get out there and make things happen.

The ones who don’t are those who sit around whining about their bad luck hoping to live off of someone else’s dime.

Ib

import · July 15, 2008, 5:14am

Re: Interesting - Posted by Corine

Posted by Corine on July 15, 2008 at 05:14:34:

Begging and pleading…a bit dramatic don’t you think?

>you only have a choice of Sticking it out at all costs until you profit which seems to be your choice.

BINGO. Folks, 3,500 a month is what I need to live on, that’s everything! Taxes, insurance, health insurance, telecommunications, cable, HELOCS, mortgages, food…all business expenses…stupid investor bootcamps…friskies…you get the idea. This includes nine properties (no condos, except North County SD), which, by the way 7 are costal (folks, does anyone think Myrtle Beach isn’t booming? Builders are holding steady right now, massive inventory, yes, but holy cow there’s commercial construction everywhere you turn.) When things break in the North, where do you think these boomers are headed? Florida? No, Floridians are headed, where? Myrtle Beach.) In desirable areas, fairly new so there’s not too much maintenance, and couple I picked up at builder years end discounts, 20% below market.

I wouldn’t be selling at a loss, just breaking even, with the exception of one property in the high desert, which I knew I shouldn’t have purchased. I’ll pay attention to my instincts next time.

3,500 a month…EVERYTHING!!!

42,000 A YEAR. I can make that with very little effort and then some.

And If I do nothing else but hang on to this stuff, maintain it and keep it rented…where do you think I’ll be in 10 years? Oh, did I say I have 30 years fixed mortgages on everything and never put any less than 20% down. How’s 5.25 on my primary, 5.5 condo North County, 6%, the highest is 6.375.

Am I still an idiot?

Begging and pleading? I will seriously edit my posts from now on as I was a bit naive about you all in my beginning posts.

And yes, I complain about builders, and most likely will never purchase direct from one again. I haven’t met one I liked.

Steve, I seem to have touched a nerve about your being successful. It certainly solicited allot of understanding and compassion from the peanut gallery. I’ve found and I know, you know, when something someone says tweaks me, there’s usually some truth to it.

Any finally, Ed, yes you are absolutely correct about the stress portion of this. Stress is a part of life and I know of nothing worthwhile that isn’t hard work. Iâ??m sure working at Wallmart for an associate is stressful.

An I am guilty of not contributing to others questions, I am sorry for that. From what I gather from most of you, you wouldn’t be interested in anything I have to say anyway.

If I had to do it over again, I would have sold my last two properties in the high dessert in early 2006. I made some nice cash selling three others prior to that. I would have held out until now. But then, hindsight is always 20/20…like many of you self proclaimed geniuses (after the fact). But then, I don’t think anyone would be giving me loan today being stated income. I figure itâ??s a wash.

Any finally, since I never seem to be at a loss for words…why are many of you so eager to see someone fail? I guess its human nature. Like a crab cage, one starts to make it up an out and the other plebs drag him back down.

Have a great day.

And about land lording! Eight rentals over an almost 4 year period with very little incidence except what I’ve posted here is not what I call a bad track record. Management Companies, if you can find a good one are worth it only in that it would allow me to focus on my day job. And that’s what I’m correcting now.

import · July 14, 2008, 9:15am

Re: Interesting and RE agent hard head - Posted by steve

Posted by steve on July 14, 2008 at 09:15:02:

redtube adventure you said a mouth full. In another post she says she is a RE licensee in two states. And like many RE licensee’s they know little about investing in real estate. As licensee’s they know what the state(s) licensing commission allows when writing an offer for a buyer or a listing agreement for a seller. And there is some of the problem with real estate today.

Just because you have a RE license does not mean you know how to invest in RE. I have seen many licensees who I can only assume got sick of seeing others profit buying and selling and therefore decided to jump in as investors. They are the ones now sitting of property they paid too much for and can’t sell to even break even on today. I have seen agents give property back on deeds in lieu and drive away from signing the deed in their new Benz.
Now they try to short sell the stuff and don’t know why the lender won’t accept the low offer.

I have yet to see any knight in shining armor ride in to save the day.

Builders know HOW to build, so they build. Bankers know how (some of them) to lend, so they lend. RE licensees know about the procedures for RE purchase and sales in the states they are licensed in, therefore they should stick with that.

NOT EVERYONE CAN OR SHOULD TRY TO BE A RE INVESTOR!

NOT EVERYONE SHOULD BE A LANDLORD!

import · July 11, 2008, 5:28pm

Re: looks like you ned to liquidate at a loss - Posted by yoohoo

Posted by yoohoo on July 11, 2008 at 17:28:47:

http://www.creonline.com/wwwboard/messages/60264.html

import · July 13, 2008, 2:42pm

Re: nerve, all you do is CRY - Posted by Corine

Posted by Corine on July 13, 2008 at 14:42:00:

Against my better judgement I respond to you again…only because I just realized your the little a-- JT gave a virbal whipin to several posts ago.

Grow up. Maybe you should widen your horizons. California? You’d never make it.

import · July 14, 2008, 7:01pm

Re: this is bit off topic (a bit on religion) - Posted by BigV

Posted by BigV on July 14, 2008 at 19:01:29:

that’s because… God’s standard is perfection. And no matter how hard you (or I) try, neither you (nor I) will measure up by our own efforts.

We just can’t be good enough. A payment must be made for all our wrongs. It’s similar to the way our justice system works. If you get a speeding ticket, no one will care about whether you were a good citizen otherwise. You could be Mother Theresa, but if you get a speeding ticket, you must PAY.

It’s the same with God. All of us must PAY for our wrongs. Just because you were 99% perfect does not mean He will overlook the 1% of imperfections.

God’s standard is perfection and all humans in a way realize that, for there is NO sane person that I know that claim to be perfect. There are perfectionists, that STRIVE to be perfect, but deep down, everyone of us realizes that

a - there is a STANDARD
b - that we just can’t measure up to that standard.

That’s why there is NO other name given to men, by which we must be saved.

HTH…

ps…
btw, if you want to discuss Christianity (I’m not sure how long the mods will allow these off topic posts here, and I’m probably sinning by breaking their rules), you can visit carm.org/boards.htm and look at apologetics - a forum for skeptics.

import · July 13, 2008, 2:34pm

Re: but you don’t seem to want to pay … - Posted by Corine

Posted by Corine on July 13, 2008 at 14:34:52:

Yep, there’s one I really like here.

import · July 14, 2008, 2:42pm

Re: Corrine be careful… - Posted by Gene

Posted by Gene on July 14, 2008 at 14:42:41:

Ib,

You are dead on. I find this attitude pretty often with tenants in my lower end rural neiborhoods.

I learned it the hard way. When I tried to “help folks out” they took and took and took and never made good. Now I am fair but strict. When I serve notice to pay or quit…they seem to be able to come up with the rent.

import · July 15, 2008, 11:52am

Re: Interesting - Posted by michaela-CA

Posted by michaela-CA on July 15, 2008 at 11:52:19:

So, if you were able to sell the properties as ‘break-even’ (provided you mean that you’d get the mortgage paid and get your downpayment back) and get the 20% downpayment back on 9 properties, then that should be enough to buy 2 or 3 houses with cash and have positive cashflow, without the need of any mortgages.

Michaela

import · July 15, 2008, 5:50am

Re: Interesting…PS - Posted by Corine

Posted by Corine on July 15, 2008 at 05:50:13:

Folks, what you wish for other’s is what you get back in SPADES.

Get out of that PLEBS mindset.

import · July 14, 2008, 5:25pm

Re: Interesting and RE agent hard head - Posted by lurker

Posted by lurker on July 14, 2008 at 17:25:07:

Steve, I would not worry that Corine called you “most likely not very successful at all.”

She has cronicaled her buying of depreciating assets that have negative cash flows, and how she was $30 thousand upside down last year, and living off of her HELOCs. This year will be even worse if you read all that tripe.

It is funny how some people are the last ones to know they are headed for bankruptcy. But isn’t that the way it always works out.

import · July 14, 2008, 2:34pm

Re: Interesting and RE agent hard head - Posted by Corine

Posted by Corine on July 14, 2008 at 14:34:58:

Steve: You’re making a gorse assumption that all RE agents are idiots. Most are, true, but the crowd I know are successful beyond anything you’ll probably ever realize in your life.

I’m going to make a leap here. I’ve been posting here long enough and have determined that the elegant, thoughtful, and helpful responders are the truly successful investors and have “class”.

The rest of you, Steve are most likely not very successful at all.

What is nice about being an agent though, is we can make allot of money without the risks and investor may deal with. That’s why everyone hates us. But every huge successful person, Trum, all see that value in a good Broker.

I like having the option and services at my hand to do what ever I want.

Don’t you worry about me little guy. Well get our measuring sticks out in about 10 years.

import · July 12, 2008, 2:34pm

Re: looks like you ned to liquidate at a loss - Posted by Corine

Posted by Corine on July 12, 2008 at 14:34:03:

I very much remember when I wrote that, and what I was looking for from fellow investors was moral support at that time, you know, “it’s rough now, but in the long run,10-15 years out you’ll be glad you didn’t sell AT A LOSS”, type of moral support.

It was so long ago I don’t remember what responses I received. But thanks for throwing back in my face. The situation was never and is not as bleak as I was feeling at that moment.

No guts no glory.

import · July 11, 2008, 5:42pm

Re: looks like you ned to liquidate at a loss - Posted by corine

Posted by corine on July 11, 2008 at 17:42:08:

Yep, I wrote that, 7 months ago. I don’t feel that way today. Well, sometimes maybe but overall, itâ??s all good. It’s hard work though, that’s for sure. But then so is working 9-5 in a job you hate. I always keep that in mind when Iâ??m complaining. And last resort is to sell, but I wouldnâ??t do that. I have always purchased for long term hold and have never wavered on that. I need to make 3,500 a month to exist, that’s everything and I mean everything. It’s manageable. Itâ??s the constant pressure that gets on my nerves, but then, thatâ??s life.

I also wrote,

>They are all good, newer properties, single family homes, well rented, though I sometimes wonder that I’m under market on rents, but I do have long term people.

by the way, how do you look up individuals postings?

import · July 14, 2008, 7:32pm

this is not the place for your sermon n/t - Posted by michaela-CA

Posted by michaela-CA on July 14, 2008 at 19:32:04:

…

import · July 14, 2008, 3:45pm

Re: Corrine be careful… - Posted by IB (NJ)

Posted by IB (NJ) on July 14, 2008 at 15:45:34:

It’s often why many people in lower end neighborhoods STAY in these neighborhoods their entire lives. I’ve seen some good people get themselves out of these neighborhoods and into better ones along with the better schools for their children. But these are the motivated folks who go to school, get their education, better jobs, save their money. The ones who don’t stay there and live off of us taxpayers.

But keep in mind (as I stated), it happens on all socio-economic levels. Even folks with businesses and who are doing well. They will whine about how big businesses or immigrants (or whoever) get the government contracts yet they won’t even fill out the paperwork to get a contract themselves. I’ve seen the ‘entitlement mentality’ operate on all levels.

Ib

import · July 15, 2008, 1:26pm

Re: Interesting - Posted by Corine

Posted by Corine on July 15, 2008 at 13:26:15:

That’s very true Michaela. I guess I haven’t suffered enough. But that’s exactly where I’m going with this. In 10-15 years when I approach time to throttle back a bit, I plan on having 5 free and clear properties. Between now and then, I’m working to pay down everything, and hopefully at some point things will start appreciating again, slowly now doubt, but I’m not expecting anything like early 2000 any time again in my life time. When said 4 properties are worth considerably more, I’ll sell them and pay down the rest of the other 5.

It’s probably not the fastest way to achieve my goals, but slow and steady is fine with me. That’s the plan, anyway for now.

I may have an epiphany next year and do it all different, but for now, this is the plan.

Iâ??m not smart enough to do things any other way right now. There you go guys, I threw you another bone to slam me with.