13348 Shadetree Ct

[ocrenter]

[quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]

true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.

The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.

But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.

[briansd1]

[quote=flu]Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh
[/quote]

If you follow the chain of title, and look at the actual deeds, you can always find out who owns a property. The whole concept of property ownership is based on public notice with recording at the county level, and before that, proclamation on the town square for all to be notified.

You don’t need to record your deed, but if you don’t, you are not protecting your interests.

If you get a mortgage and want to deduct interest, you will most likely need to get the property in your name first, then perhaps quit claim it to a trust.

[briansd1]

[quote=flu]Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh
[/quote]

If you follow the chain of title, and look at the actual deeds, you can always find out who owns a property. The whole concept of property ownership is based on public notice with recording at the county level, and before that, proclamation on the town square for all to be notified.

You don’t need to record your deed, but if you don’t, you are not protecting your interests.

If you get a mortgage and want to deduct interest, you will most likely need to get the property in your name first, then perhaps quit claim it to a trust.

[briansd1]

[quote=flu]Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh
[/quote]

If you follow the chain of title, and look at the actual deeds, you can always find out who owns a property. The whole concept of property ownership is based on public notice with recording at the county level, and before that, proclamation on the town square for all to be notified.

You don’t need to record your deed, but if you don’t, you are not protecting your interests.

If you get a mortgage and want to deduct interest, you will most likely need to get the property in your name first, then perhaps quit claim it to a trust.

[briansd1]

[quote=flu]Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh
[/quote]

If you follow the chain of title, and look at the actual deeds, you can always find out who owns a property. The whole concept of property ownership is based on public notice with recording at the county level, and before that, proclamation on the town square for all to be notified.

You don’t need to record your deed, but if you don’t, you are not protecting your interests.

If you get a mortgage and want to deduct interest, you will most likely need to get the property in your name first, then perhaps quit claim it to a trust.

[briansd1]

[quote=flu]Note to self: if I ever buy a new home, I’m going to put it into a LLC based in Wyoming so peeking inquirying piggies don’t post my personal info in this site, heh heh
[/quote]

If you follow the chain of title, and look at the actual deeds, you can always find out who owns a property. The whole concept of property ownership is based on public notice with recording at the county level, and before that, proclamation on the town square for all to be notified.

You don’t need to record your deed, but if you don’t, you are not protecting your interests.

If you get a mortgage and want to deduct interest, you will most likely need to get the property in your name first, then perhaps quit claim it to a trust.

[ocrenter]

There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.

That is the difference between the Rich and the Business Savvy vs the Honest Professional.

[ocrenter]

There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.

That is the difference between the Rich and the Business Savvy vs the Honest Professional.

[ocrenter]

There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.

That is the difference between the Rich and the Business Savvy vs the Honest Professional.

[ocrenter]

There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.

That is the difference between the Rich and the Business Savvy vs the Honest Professional.

[ocrenter]

There was another Stonebrige home that was purchased by a couple in business at the peak. The home was purchased for $1.9 million with 20% down. That’s $380k! When the value in Stonebrige dropped, these guys cut their losses and stopped paying. Afterall, the mortgage on the house was at least $1.5 mil and the house was probably valued at around $1 million. The home was foreclosed but the couple walked out of it a whole lot faster than this guy, they were still buying new Mercedes, and last I heard they purchased a nice place in La Jolla.

That is the difference between the Rich and the Business Savvy vs the Honest Professional.

[sdrealtor]

[quote=ocrenter][quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]

true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.

The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.

But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.[/quote]

agreed

[sdrealtor]

[quote=ocrenter][quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]

true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.

The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.

But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.[/quote]

agreed

[sdrealtor]

[quote=ocrenter][quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]

true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.

The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.

But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.[/quote]

agreed

[sdrealtor]

[quote=ocrenter][quote=sdrealtor]The point of what he does for a living is that he is not a professional flipper and we cant be certain it was intended to be a flip at all. Something may have happened in his life that necessitated this.[/quote]

true. but again, I think this clearly demonstrates the most vulnerable class when it comes to RE purchases are the upper middle professional class.

The upper class are so wealthy that a wrong purchase here and there really doesn’t hurt. A lot of them are shrewd business people that are well tuned to cutting their losses early. They make a wrong move and they simply cut the cord early. On the flip side, the lower class are so poor that they can enter and exit a wrong transaction and lose nothing.

But the professional class have the ability to get loans valued so high up that losses can be crippling for years to come. And most of this class are not so business savvy that they are able to cut the cord and move on. Rather, they struggle along and try to fulfill their contracted obligation and end up losing BIG.[/quote]

agreed

[Author]

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