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So simple a caveman can do it... as long as that caveman lived during a real estate bubble. What about now? What if you don't have four friends that are willing to hang together over the life of the investment? What if you are black? What bank is going to give anything except a sub-prime mortgage (if that) to five unrelated African Americans? Or a single one? Every time someone tries to fly the contrarian argument they use an anecdote about them. An individual success story that cannot be repeated by the average person. Tiger Wood's, Steve Jobs, Bill Gates, hard working _______ who bought low and sold high in nineteen freaking seventy-seven. In 1977 my aunt bought her first house for $50K in Cambria Heights (Queens), New York. She sold it last year for $600K. That's her first house. She still owns the second one but she no longer lives in NYC. She spent well over $150K putting her daughter through college but my cousin will not likely be able to realize the kind of real estate success that her mother has. Pathetic... we sit here scratching each others eyes out over why we are not successful and how its our own fault because successes exist. And we should leave them to it. I agree. I don't want to take from the wealthy to benefit myself. I do not, however, want to take care of the wealthy. I worked for a company where the women would throw showers for each other when they got pregnant. The brass never came to these events or bought gifts. When any of the brass got in the family way all the low paid administrative staff pooled money or individually bought gifts for the superior and paid for the cost of throwing a shower. Its a small thing but it illustrates the kind of entitlement the rich have. The middle class run homeless shelters and soup kitchens and other charities to benefit the poor. And they pay 30% Federal Taxes on everything they make. The wealthy pay taxes only on the first 250K of income and nothing on wealth and get richer every year. They give to charity but their investment in the poor ends there. They wouldn't give at all except that the gifts are tax deductible. Some wealthy even manage to show a net loss at tax time and are paid subsidies etc. to help them out. Don't tell me that none of you people don't have adult children that have returned home. If that isn't proof that the whole system is breaking down then I don't know what more to tell you.
H
Anyone can recreate these success stories. In fact, there is no better time than today, at the bottom of the market, to buy your first property. Me and my partners started out as co-workers/friends. We were not always on a social basis. It was business. Form a good partnership agreement or corporation structure and its not a problem. Find some family members you trust. If you have scratched your eyes out and have NEVER tried, then you went blind for nothing. The fault is yours for not trying.
The birth rate for non-immigrants is falling. Immigrants are having kids like crazy. They are going to need homes in areas where there are jobs. That ain't Iowa. Think ahead 25 years. Even if you are 55 today, 25 years is not too far to plan ahead. You have kids or grandkids who will benefit. We stuck to single-family homes in middle class areas. We tried the multi-unit apartments, but they are too much work. The cap rate formulas are everywhere. If you can read this forum, you have access to google. It's not a complex interest rate swap or derivative.
The trick to wealth is not the "big kill". Only a small fraction of people do it that way. Lots of those Wall Street guys make it big and burn out. Some people will inherit millions. They are the minority also. Take a slow, steady approach.
I don't care if you are black, white, or purple. Banks have money to loan if you have enough equity and good collateral. $20,000 on a $100,000 property is 20%. A fifteen year mortgage is nothing at 4%.
When I decided to leave my company years ago, I had to mortgage my own house to bridge the gap. I bought a small subsidiary of my then company. I worked for a Fortune 100, and left all security behind in pursuit of my dream. My wife was a teacher, and we lived off her salary for a while. It was a gamble. It paid off.
Well golly gee wizz there pqluless thats funny that ole Eddie Lampert was selling the real estate. Odd how the Vornado Realty Trust bought into it.
I don't know how you support your habit, but you are on the hallucination train. You say it and viola, it isn't true, again.
By Bloomberg News | March 22, 2005
Vornado Realty Trust, the real estate company that is buying Toys "R"' Us Inc. with two buyout firms, will support the acquisition of Sears Roebuck & Co. by Kmart Holding Corp. Vornado will vote 1,176,600 Sears shares in favor of the $11 billion takeover, Vornado said Monday. The shareholders of Sears and Kmart will vote on the deal Wednesday in Hoffman Estates. The combination of Sears and Troy, Mich.-based discounter Kmart will create the third-largest U.S. retailer, to be called Sears Holdings Corp.
As the company closes stores, it expects to generate $140 million to $170 million of cash as inventory is sold and the company leases or sells its commercial properties.
So simple a caveman can do it... as long as that caveman lived during a real estate bubble. What about now? What if you don't have four friends that are willing to hang together over the life of the investment? What if you are black? What bank is going to give anything except a sub-prime mortgage (if that) to five unrelated African Americans? Or a single one? Every time someone tries to fly the contrarian argument they use an anecdote about them. An individual success story that cannot be repeated by the average person. Tiger Wood's, Steve Jobs, Bill Gates, hard working _______ who bought low and sold high in nineteen freaking seventy-seven. In 1977 my aunt bought her first house for $50K in Cambria Heights (Queens), New York. She sold it last year for $600K. That's her first house. She still owns the second one but she no longer lives in NYC. She spent well over $150K putting her daughter through college but my cousin will not likely be able to realize the kind of real estate success that her mother has. Pathetic... we sit here scratching each others eyes out over why we are not successful and how its our own fault because successes exist. And we should leave them to it. I agree. I don't want to take from the wealthy to benefit myself. I do not, however, want to take care of the wealthy. I worked for a company where the women would throw showers for each other when they got pregnant. The brass never came to these events or bought gifts. When any of the brass got in the family way all the low paid administrative staff pooled money or individually bought gifts for the superior and paid for the cost of throwing a shower. Its a small thing but it illustrates the kind of entitlement the rich have. The middle class run homeless shelters and soup kitchens and other charities to benefit the poor. And they pay 30% Federal Taxes on everything they make. The wealthy pay taxes only on the first 250K of income and nothing on wealth and get richer every year. They give to charity but their investment in the poor ends there. They wouldn't give at all except that the gifts are tax deductible. Some wealthy even manage to show a net loss at tax time and are paid subsidies etc. to help them out. Don't tell me that none of you people don't have adult children that have returned home. If that isn't proof that the whole system is breaking down then I don't know what more to tell you.
H
office politics. I loved working for an advertising VP in NYC at age 20, she did nothing productive or admirable...I was so happy and proud to opt out of the office b.s. "showers" and mandatory socialization, it motivated me to get an advanced degreee and never work in a petty office ever again
Lowes has closed 600 stores in U.S. alone, bet they are ripe for a new buyout. Yep great housing economy we are in these days...
Thats another reason why these companies dont hold onto their real estate. If they did, they'd be bankrupt sitting on 600 empty stores trying to unload them in times like this.
I had half a dozen buildings vacated in the last few months by the USPS. These companies want to close down locations fast when they need to, not spend years trying to figure out how to manage the expense and unload them.
no, YOU ARE WRONG, as ALWAYS Taxes in Spain - Guide to personal taxes in Spain The tax rate has been reduced from 35% to 32.5% in 2007 and to 30% in 2008 (from 40% to 37.5% and 35% for 2007 and 2008, respectively, for entities engaging in oil exploration, research, and exploitation). For small and medium companies (those with a turnover less than 8 million euros), a 25% tax rate (applicable to the first 120,202€) applies. Some tax credits, including those for exports, are to be gradually phased out by 2011, 2012 or 2014. The rules regarding tax credits for reinvestment have also been revised, in particular with reference to the kind of assets involved. Capital gains on the sale of certain assets are now effectively taxed at 18% (the same tax rate as the PIT). Finally, the R&D tax credit has been expanded to companies with more than 25% of their research activity in another EU Member State or member of the EEA.
Who the hell is talking about 250 years ago OMG, the desperation...
For crying out loud I was referring to history, old Spain and France. And yes 200 years ago is important for obvious reasons but you wouldn't understand because like I said earlier you've got no common sense.
He might have meant Starbucks because they closed 600 stores. Who can keep them all straight with the closings taking place.
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Lowes has closed 600 stores in U.S. alone, bet they are ripe for a new buyout. Yep great housing economy we are in these days...
