Rep Power: 304

a bubble would mean a pop or a sudden crash. the market is too strong for that to happen. ill let you in on a little secret allan greenspan isnt always right. i can referr you to other real estate forecasters that will say the complete opposite of what he wants the world to believe. if all of this was true dont you think he would be pulling his money out of the real estate market and try to find a safer investment??? do believe everything you read. i base my opinion on experience past and present as well as taking a look at the big picture that more than one person present. in fact did you know that if this was the case that mr. greenspan himself would loose millions of dollars becasue of the type of loans he carries on his homes. some things just dont add up. and not saying greenspan isnt a very intelligent guy but he is just one of many people that are in the real estate forecasting field.

 
Rep Power: 0

real estate pisses me off, got all these people moving down here making the market rates sky rocket, pushing the people who have lived here for years move into other areas that are less expensive.

 
Rep Power: 0

haha, you and I should start a club... sounds like we're on the same page, down to how we're making money... 5 years ago i was 16 though, so i didn't really have a choice where i lived lol... i have my hand in a million different ventures, but my main thing is buying and selling homes and properties in the southeast...

i have an '03 Civic, an '03 Escalade, an '04 Navigator, an '04 Vette, an '04 Sierra, and a '76 F-100 Custom... work hard, play hard

 
Rep Power: 329

^^^ hahaha sounds good man....you know what you're doing.

As far as doom and gloom in Real Estate forecasts, look: people will buy and sell their houses no matter what the market does. As for my career, it will always be lucrative. People will pay fair market value ALWAYS.

Any investment can be looked at like a bubble. Stocks, bonds, annuities, money markets, you name it, it appreciates or depreciates in much the same way as Real Estate. But here's the secret: REAL ESTATE IS THE ONLY INVESTMENT IN THE WORLD WHERE YOU CAN MAKE MONEY WITHOUT PUTTING ANY OF YOUR OWN MONEY INTO THE PICTURE. It's the secret of the wealthy: make money off of other people's money.

This isn't the time nor the place for me to divulge into what I'm getting at, but you get the idea. By the way, anyone who invests in only one market is at risk, plain and simple. If you're a Real Estate investor, you invest across the country and even the globe if you want to make money.

Personally, I have my hand in several small businesses, Real Estate, annuities, stock, and I'm looking at a few franchises as well. If any one area of the market crashes, I have plenty of other things to keep me going.

Personally, I don't believe in the Real Estate "bubble." Rule of thumb that I live by: follow the wealthy, they know what they're doing. Trump is all over Vegas right now...he wouldn't buy and develop property if he was going to lose money. Turnberry originally slated 3 highrise towers for Vegas...guess what...they just announced that they're doing five. We get 8600 new residents a month here. At any given point we have 800,000 tourists on the Strip alone. All of them spending and losing money in the casinos.

Vegas is a destination city. The sunny weather, booming industry, and housing market are going to drive this city for years to come. Predict the doom and gloom if you want...in general negative people never really succeed.

Oh and by the way...Greenspun has a laundry list of financial mistakes he's made in his career. He's not the all knowing of the market.

Anyways, yeah I whooped his escalade's ***.

 
Rep Power: 0

my latest investments were in San Antonio TX, Macon GA, and most recently 4000 acres in Alabama... my friend's mom is some head honcho at ReMax, and they're talking about opening branches in Russia... given that i'm a Russian linguist, i might be selling Red Square lots here soon lol...

 
Rep Power: 329

Smart man. My last purchase was also in San Antonio. DR Horton up in "The Dominion"...man talk about dirt cheap...

Should make a good amount of money off of this one this year...

 
Rep Power: 320

Well, a bubble is more like TNT. It can blow up or be defused before it blows, that was Greenspan's concern, he wanted to prevent the bubble from becoming to large and just slow the market a down a little, hence the reason he hiked rates up before he left.

Yeah I know the man is not the know all, I was just addressing your comment about only uneducated people think it is a bubble.

Personally, I think it is more like a bear market at this point, one of the few good investments right now, but eventually bear markets slow. Maybe it will bubble and pop, maybe it will just slow, maybe it will just maintain, only time will tell.

I also hope that it continues as is, because right now I don’t have the money to invest, but when I get out of school, I will and I intend on doing so if the market maintains it’s current status.

 
Rep Power: 320

Well certainly you have to have a little money to make the payments and what not.... I would like to know more though; it would be interesting to see if it works in Ohio, which is a depressed area right now. I'm guessing it would, just it wouldn't be as lucrative. Are you giving seminars yet?

 
Rep Power: 0

wanna get started in real estate?... here's the really really really simplified version: find a house in an area that has growth potential (Las Vegas, San Antonio, Houston, San Diego... Google 'property value increase' and do a little research)... get a loan to get the house... rent the house out, the tenants basically pay the mortgage... you kick the tenants out after their lease is up and sell the house... pay back your loan, keep the extra cash and buy a Cayenne or an Escalade

 
Rep Power: 320

yeah.... that's about the extent of what I know My problem is that I can't get to these areas right now to buy a house

 
Rep Power: 0

that's the reason everyone in America isn't a real estate investor

just keep your eyes open for opportunities in your area... if this is something that really interests you, stay with it... it's time consuming and stressful at times, but the benefits are well worth it... good luck with all of your ventures in the future

 
Rep Power: 320

thanks, you too


What do you guys think of duplex's, just out of curiosity?

 
Rep Power: 330

JRfish007, bear markets are bad. bull markets are good. i think you mixed up the two terminologies when posting before.

multifamily housing is good in cleveland area, K&D group is certainly trying to prove that point. if cleveland starts growing in population again, it'll be huge. reason: no one has built any significant new rental properties in recent years, so supply has remained the same.

 
Rep Power: 288

howd we go from his 1st Cayenne S kill to real estate? actually, if i remember correctly i asked what he did for a living... haha. carry on then

 
Rep Power: 329

Hey you don't have to physically go to these areas. I've had out of state clients purchase property in Vegas without ever coming down. Faxes and emails are imperative at that point...

 
Rep Power: 320

yeah I ment bull market.... sorry, just starting to learn this stuff. multifamily housing I think could be good in Cleveland, but I'm waiting to see if a new mayor will bring new business in, because without it, there really is no growth and no need for more housing, I'm also watching to see who the new gov is. The other problem I have with multifamily housing, is that sometimes you may get the "bad" tenate, which then kills your income for some time, with higher end stuff like what these guys are dealing with, you are less likely to get someone like that.

 
Rep Power: 320

Yeah, I guess most of this is my fualt

 
Rep Power: 320

Well, you have to have a lot of trust in the people buy the house for you, I'm not sure who I could go to, I do have family in Vegas, but not sure if they much about houses.

 
Rep Power: 329

That's what Realtors are for...well competent ones anyway. You have to find the right person for the job. I'll be honest with you, there's a whole lot of people running around Vegas right now getting their license because they think it's "easy money" and not being ethical nor competent in their business. They get weeded out slowly from lack of business, but still they're out there...

 
Rep Power: 320

And unless I can go down and really check these people out, that's what bothers me. Maybe when I get out of school I will have the time and money to get into it in the bigger markets, but right now I just don't have the abilty to go about thing the way I would like too.

 
Rep Power: 0

i have raced a turbo Cayenne with a 92 mustang interceptor(police package) and stomped its ***! Raced him twice both times he had a head start!! Now they are fast, and i honestly thought he would win, so i was suprised!

 
Rep Power: 0

how did you get the mustang? I'm assuming it WAS a state trooper's car at one point in time?

 
Rep Power: 320

My uncle had one of those police mustangs, fastest stock car I was ever in. Dam thing ran an 11.22, it wasn't a normal one with the 351, his had the 460, just insane.

 
Rep Power: 0

thats cool about your uncle, but the normal one doesnt have a 351 in it...it still has the 302 in it! And yes it was a troopers car at one time, they get auctioned off.