ok then on to buying real estate and unfair challenges
timing is everything, someone once said Pigs get fat, hogs get slaughtered and that's a very true statement
I keep thinking of a deal I saw come across the board once, it was a huge waterfront ( chicago ) mall something like 500,000 sqft
sold in 2004. I asked myself why is it being sold, then I realized, timing, there was about 2 years left in the market so sell into the buying.
referencing now, interest rates are 5% to 6% on 30 years fixed
I started when the market was 16.75 on my first loan. Celebrated when I got 9 7/8 on another loan.
what's so unfair about me getting money at 16.75% it was a good deal that left me happy, everyone won.
money is cheap right now, so figure out how to get some and look 15 years down the road
heck I have never seen such a level playing field in all my life.
I bet I could find a handy man special in your area, that would not exceed 23% of your net income on the mortgage
I bet I could find a multifamily that you would be at break even or a small profit every month utilizing 23% of your net income on the mortgage plus the rental income.
Unfair Challenges :
Really, you need look at what unfair really is, we just saw a homeless guy learn how to code, at least he's trying, what's unfair is people want handouts all the time, I myself would create some-sort of workfare.
I hear the cries from people, get rid of the illegals ... please, the last time we tried that ( after ww2 we got rid of 800,000 ) consumer vegetable prices rose,
the we tried getting rid of migrant workers, prices rose again and many plantation went bust.
labor is supply vs demand, Also I picked peppers, shucked corn and baled hay in my past so hard labor is nothing new.
Please get rid of the illegals, I assure you, your cost for produce will increase ( or rot in the fields ) or we will see Americans rob each others back yard gardens. until the market fixes the pricing ( we see what happens when gas goes up ) and people get on with it. gee did you not see your lemon prices go up last week ??
Please, teach people how to read, how to spend wisely, I don't own a big screen tv and the one I got is 8 years old.
if you want to change the system, then go out, buy a multi-family unit, rent it cheaply and take the loss. force the tenant to take classes as part of the lease of the apartment...
Oh wait, student loans, there is one thing you can do, fight the government and force all student loans to be done with accredited schools, that should take some weight off peoples back.
yep I like the field just the way it is, I've been on both sides of the fence and I am working hard to get my fair share of it, and screw those that think it's unfair, what's unfair is that they want it all for free. try working for commission only and having to pay your bills, dealing with bullshit buyers whom can't make up their minds, and a ton of crap. then they want a kick-back or a discount on your commission. Nope, won't happen with me, I work hard and plan to keep what I make. One day I'll own 1000 units, charge sky high rents and make a fortune, and if I am lucky, off all hard work of all those whom cry unfair.