[quote=svelte][quote=sdrealtor][quote=ltsddd]
Or how about the guy in San Diego who went from renter to owning multiple rentals in a span of a year or two. He was featured in the SD Union Tribune. I remember reading the articles about them and thought to myself, why wasn’t I as “smart” as they were. Just curious how it ended for them.[/quote]
Not sure if you are referencing them but a couple young guys were featured in the UT after opening a century 21 Brokerage in San Marcos. They got crushed though The main guy was able to hold onto some properties for several years avoiding foreclosure. Eventually he lost them but he lived mortgage free for years.[/quote]
Probably not who you’re talking about, but there was that kid (early 20s?) from Sacramento who drank the kool aid and bought rentals all over the country. I don’t think he owned more than 10 but it ended very poorly…if I’m not mistaken he used no-doc loans to get them. He started the website “iamfacingforeclosure” and when all the properties were gone he changed his name and went into real estate. His original name was Casey Serin.
In these bubbles, most of the people who drink the coolaid after the “investment advice* hit mainstream got burned. People and insiders who got in early and knew to get out without trying to figure out what the peak was did very well. Back at my old dot.com company, of my my directors for out at $325/share and went into bonds. and when the stock went to $400+ share he didn’t even blink, saying he always did well enough with his options and earned everyone not to be greedy. He was so right…
It’s really hard to digest. When you’re seeing gains after you sell, impulse is you sold at the wrong time….
