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Yep the multiple 7 figures we made is peanuts . I will tell you what , i will gladly take that limited knowledge any day of the week. In the mean time it is usually a waste of time responding to your posts because you seem to think your views are the only correct ones and as the above silly comment shows above are totally wrong
Yep the multiple 7 figures we made is peanuts . I will tell you what , i will gladly take that limited knowledge any day of the week. In the mean time it is usually a waste of time responding to your posts because you seem to think your views are the only correct ones and as the above silly comment shows above are totally wrong
Trying to start a fight JUST so you think you can avoid pointing out where I'm wrong? Didn't you sell at a loss recently on some Pocono property? And I believe you've posted how you can't even afford to live in properties you own.
I assume the Math stands for something. Jak, I can guess.
Wow me with you skills pointing out where I'm wrong.
No we did not sell the pocono at a loss. And yes, we can not afford to live in 3 and 4 million dollar apartments in retirement when we have to buy out our partners share nor do we want to live there.
But you most likely didn't pay $35,000 in cash , you probably paid $7,000 cash down or so in 1976 dollars.
$147,772 into $500,000 in 40 years isn't that great a return..but
$30k or so into $500,000 is a much nicer return
A lot of people that say stuff like real estate isn't as good an investment as the stock market or , real estate just keeps up with inflation don't get the important power of leverage.
Also that doesn't take into account all the money you could of made on rent over the years when your mortgage payment was very low versus market rents.
In CA many people got wealthy just by buying a home.
They didn't have to pick the magical unicorn home , like someone picking Microsoft or Apple at the right time
They just had to pick the right region like the Bay Area or all of Southern California pretty much.
Or anywhere in Manhattan
Just some examples.
Excellent post. I don't see how this isn't more widely understood.
Jm ,You would have to compare it to buying stocks with borrowed money . Don't forget back in those days interest alone ran you 2 to 3 x the price of the house too
Last edited by mathjak107; 07-10-2016 at 06:50 PM..
No we did not sell the pocono at a loss. And yes, we can not afford to live in 3 and 4 million dollar apartments in retirement when we have to buy out our partners share nor do we want to live there.
Your point is just rediculous
Oh, so it is the LOW multiple 7 figures. And divisible by two?
Nope , not low 7 figures , much more and that is only our share
AND still can't afford to live in one of your properties? Also your partners might be concerned that you seem to have some delusions of ownership of their share.
It would be best if you stuck to cash only deals. Leverage should be left to those who understand math.
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