Casual “Investors” becoming Landlords

[moneymaker]

[quote=bearishgurl]

I agree with all of this. The summer of 2010 (after the tax credits expired) until the spring of 2012 (and maybe later, if using all cash) was a great time to buy both investment RE and a residence in SD County.

I’m looking forward to Rich’s upcoming graphs, as well.[/quote]

Actually I think the best time to buy was in the Spring of 2009 with the $8000 tax cedit, as I was fortunate enough to do.

[earlyretirement]

[quote=CA renter]BG,

I really enjoy your more general posts, but sometimes cringe when you try to paint a complete picture of someone with only one or two data points. Then, you tend to insist that the picture you’ve painted is the true picture of their lives. IMHO, that’s what annoys people.

Just because people put (some) information about their situations on the internet doesn’t mean they want to be stalked.

.[/quote]

+1. I agree. Your posts I enjoy the most are the general posts. Definitely agree with that.

[earlyretirement]

[quote=moneymaker][quote=bearishgurl]

I agree with all of this. The summer of 2010 (after the tax credits expired) until the spring of 2012 (and maybe later, if using all cash) was a great time to buy both investment RE and a residence in SD County.

I’m looking forward to Rich’s upcoming graphs, as well.[/quote]

Actually I think the best time to buy was in the Spring of 2009 with the $8000 tax cedit, as I was fortunate enough to do.[/quote]

Hmm.. I’m not so sure about that. I don’t know how things were like here in San Diego back then. But prices sure fell quite a bit after the tax credit expired in other areas. For example, I remember making an offer on a house in Plano, Texas back then before it expired. On a big 5 bedroom house in a nice area in a good school district they were asking $339,000.

I offered $300,000 cash. They felt offended and said no way. I remember at the time explaining to them that once the home housing tax credit program expired, prices were going to plummet. And they did at least there.

A few months had gone by and I forgot about the house. I remember getting an email from my realtor and he emailed me asking me if I was still interested as now the seller’s realtor was interested in my $300,000 offer. I had already purchased another property so I said no.

Well the house ended up going for something like $289,000 several months later. Waiting for the credit to expire in that neck of the woods was a much smarter move vs. paying $8,000 “less” before it expired.

Sometimes less is not more. 🙂

[bearishgurl]

[quote=CA renter] . . . Just because people put (some) information about their situations on the internet doesn’t mean they want to be stalked.[/quote]

Now, CAR, you must know that my posts have never risen to the level of “stalking.” However, I can’t say the same for a couple of other Piggs. You know I have no interest in that and that isn’t me.

You must admit that this statement is just a bit over the top ;=)

[bearishgurl]

[quote=earlyretirement][quote=moneymaker][quote=bearishgurl]

I agree with all of this. The summer of 2010 (after the tax credits expired) until the spring of 2012 (and maybe later, if using all cash) was a great time to buy both investment RE and a residence in SD County.

I’m looking forward to Rich’s upcoming graphs, as well.[/quote]

Actually I think the best time to buy was in the Spring of 2009 with the $8000 tax cedit, as I was fortunate enough to do.[/quote]

Hmm.. I’m not so sure about that. I don’t know how things were like here in San Diego back then. But prices sure fell quite a bit after the tax credit expired in other areas. For example, I remember making an offer on a house in Plano, Texas back then before it expired. On a big 5 bedroom house in a nice area in a good school district they were asking $339,000.

I offered $300,000 cash. They felt offended and said no way. I remember at the time explaining to them that once the home housing tax credit program expired, prices were going to plummet. And they did at least there.

A few months had gone by and I forgot about the house. I remember getting an email from my realtor and he emailed me asking me if I was still interested as now the seller’s realtor was interested in my $300,000 offer. I had already purchased another property so I said no.

Well the house ended up going for something like $289,000 several months later. Waiting for the credit to expire in that neck of the woods was a much smarter move vs. paying $8,000 “less” before it expired.

Sometimes less is not more. :)[/quote]

I think the tax credits ratcheted up asking prices of listings in the price range of your TX listing all over the nation, ER. But they really had little to no effect on asking prices of listings over $500K. I think buyers of move-up and luxury homes have much less interest in an $8K “tax credit” that may need to eventually be recouped.

[zk]

[quote=bearishgurl][quote=CA renter] . . . Just because people put (some) information about their situations on the internet doesn’t mean they want to be stalked.[/quote]

Now, CAR, you must know that my posts have never risen to the level of “stalking.” However, I can’t say the same for a couple of other Piggs. You know I have no interest in that and that isn’t me.

You must admit that this statement is just a bit over the top ;=)[/quote]

BG, your staunchest supporter writes a well-crafted, gentle post with constructive criticism, and your response is to point out where you think she’s wrong. And where other Piggs are worse than you. My question is this: Do you know you’re an insufferable boor and you don’t care? Or do you think other people are overreacting to you? Or do you see it some other way? I’m genuinely curious.

[CA renter]

[quote=earlyretirement][quote=moneymaker][quote=bearishgurl]

I agree with all of this. The summer of 2010 (after the tax credits expired) until the spring of 2012 (and maybe later, if using all cash) was a great time to buy both investment RE and a residence in SD County.

I’m looking forward to Rich’s upcoming graphs, as well.[/quote]

Actually I think the best time to buy was in the Spring of 2009 with the $8000 tax cedit, as I was fortunate enough to do.[/quote]

Hmm.. I’m not so sure about that. I don’t know how things were like here in San Diego back then. But prices sure fell quite a bit after the tax credit expired in other areas. For example, I remember making an offer on a house in Plano, Texas back then before it expired. On a big 5 bedroom house in a nice area in a good school district they were asking $339,000.

I offered $300,000 cash. They felt offended and said no way. I remember at the time explaining to them that once the home housing tax credit program expired, prices were going to plummet. And they did at least there.

A few months had gone by and I forgot about the house. I remember getting an email from my realtor and he emailed me asking me if I was still interested as now the seller’s realtor was interested in my $300,000 offer. I had already purchased another property so I said no.

Well the house ended up going for something like $289,000 several months later. Waiting for the credit to expire in that neck of the woods was a much smarter move vs. paying $8,000 “less” before it expired.

Sometimes less is not more. :)[/quote]

The tax credit definitely boosted prices in SD County, too, even for listings above $500K. We have friends who insisted that the tax credits were a good deal, and they’ve had some significant losses as a result.

Anytime a credit or subsidy of any type (including artificially low interest rates) are available to the majority of buyers, it’s the sellers who will end up with the benefit, not the buyers. In order for buyers to benefit, it has to be a very limited/restricted subsidy.

[CA renter]

[quote=bearishgurl][quote=CA renter] . . . Just because people put (some) information about their situations on the internet doesn’t mean they want to be stalked.[/quote]

Now, CAR, you must know that my posts have never risen to the level of “stalking.” However, I can’t say the same for a couple of other Piggs. You know I have no interest in that and that isn’t me.

You must admit that this statement is just a bit over the top ;=)[/quote]

Not “stalking” in the actual sense, but the aggressive tenacity in which you try to pry more and more information from people about their personal lives — information that isn’t anyone’s business, especially on the internet — is where the problem lies. When people are reluctant to give out that information, you tend to “fill in the blanks” with whatever information you might have picked up by searching through other threads, etc.

You know I like you, BG; just saying that this particular habit is probably what annoys people the most, and it detracts from the awesome and informative points that you are so good at making.

[Ren]

[quote=bearishgurl]
This is the internet, folks. If a Pigg puts it out there (and Ren DID) that he has house and car payments and minor children, lives in RIV Co (but wishes to move back to SD Co someday), works in SD Co, and is thinking of buying rental property in FL or maybe AZ, that’s all OUT THERE. It’s now fodder for a topic of discussion.
[/quote]

Uh huh, lots incorrect there as usual – but I put it OUT THERE to be part of the conversation. I don’t have a problem with it being out there and talked about – what I have a problem with is you changing it and padding it with assumptions to make your argument, all in the most condescending way possible.

[quote]
Ren seems to be taking it personally by his name-calling and taking words out of my mouth that were never there. But that’s okay. I never stated Ren was “stupid.”
[/quote]

Again, twisting the story to suit you. Everyone has read the thread and knows what was said and what wasn’t. I give only as good as I get – no more. As for your behavior, you do know that it’s possible to be insulting without name calling? Being arrogant and patronizing are far worse than explicit insults, in my opinion – they are seriously nasty personality traits. My kids get that lesson right along with the cussing, do unto others, and skin color speeches.

[quote]
There is nothing wrong with Ren’s current station in life.
[/quote]

It’s genuinely funny that you don’t see a problem with this statement. Not the literal meaning of the words, which is all you’ve thought through, but the attitude and assumptions behind it, and why you feel the need to make it in the first place.

[Ren]

[quote=all][quote=Ren]Others who agree – thanks for the support (public and PMs)![/quote]

If yours is last in a discussion with BG we will send you a trophy.[/quote]

LOL – I don’t expect it to be. I would ignore her, but then half the site’s content would disappear. Not that that’s a bad thing, but what’s left of the conversations might get a little confusing. Better to concede that everyone Gen X or later is a moron, and just bow to the unencumbered genius of the boomers.

[spdrun]

I think she’s using boomers as a proxy for “smart people who buy below rental parity.”

[(former)FormerSanDiegan]

Here’s what I do to cope with BG’s posts (at least in those cases where I decide to read all 5 chapters).

Just imagine the writing in the voice of Andy Rooney.

Better yet, picture Andy Rooney saying these things she writes. It’s much more enjoyable this way.

Here’s an example to help you visualize (or audialize?)

[bearishgurl]

[quote=CA renter]Not “stalking” in the actual sense, but the aggressive tenacity in which you try to pry more and more information from people about their personal lives — information that isn’t anyone’s business, especially on the internet — is where the problem lies. When people are reluctant to give out that information, you tend to “fill in the blanks” with whatever information you might have picked up by searching through other threads, etc….}[/quote] For the record, CAR, I haven’t have the time to “search” old threads. I remember what these posters have stated on threads which I have participated in. They either posted it in response to one of my posts or another’s post in a thread in which I, myself participated in.

This is due to my near “photographic memory.”

I don’t need to “fill in the blanks.” I can use what is posted and give a personal opinion on a subject based upon the information given. It is not a “legal” opinion. It is simply MY opinion, based solely upon the information given. I usually preface my opinions with a disclaimer that my opn was based solely upon the prior posts of the forum member.

Lots of posters start threads on this forum describing their issue and then asking, “What do the Piggs think?” Often, they don’t give enough information to get good answers. Does this mean they only want to hear from posters who agree with them? Or does it mean that posters who might have viable answers shouldn’t ask for more information? If the questioner chooses not to provide more info when asked, the quality and number of opinions on the thread goes down. It’s often a balance between giving out more info than the poster feels comfortable with and still being able to receive valuable opinions.

Of course, if any Pigg doesn’t like the opinion or “advice” another Pigg suggests for them, they don’t have to take it. You don’t have to shoot the messenger . . . or even explain why you can’t use the advice. Just move on.

[bearishgurl]

[quote=zk]BG, your staunchest supporter writes a well-crafted, gentle post with constructive criticism, and your response is to point out where you think she’s wrong. And where other Piggs are worse than you. My question is this: Do you know you’re an insufferable boor and you don’t care? Or do you think other people are overreacting to you? Or do you see it some other way? I’m genuinely curious. [/quote]

I both agree and disagree with CAR on several issues, she knows this and I and consider her very intelligent. I don’t consider any Pigg to be my “staunchest supporter.” I think we are all individuals with our own life experiences and no one Pigg has a “staunch supporter” here who thinks they can say or do no wrong.

I have personally turned in a Pigg for continual “stalking” and they were subsequently banned from the forum. And they weren’t stalking me and it isn’t who you might think it is.

Another Pigg posted behavior here that could be construed to be stalking by a third Pigg and subsequently quit doing it within 24 hrs. And again, I was not the victim but was nevertheless horrified that they would post here exactly what they did, even if they DID do it unbeknownst to the victim, who undoubtedly later read it and never posted here again.

Both of these instances were comprised of actions which occurred both on and off the internet.

My commenting on another’s post on this and any other threads is NOT “stalking” under ANY of its definitions. It was due to someone posting about their situation and I commented my take on it.

As flyer posted, they’re going to do what they want, anyway, so what’s the point of posting a strong opinion and be criticized for it? He’s got a good point.

I myself have endured a LOT of jabbing, ribbing, and outright “insults” here over the years and the list goes on … but I would have to agree with flyer in this particular instance.

Maybe the Piggs just want to pat each other on the back … and that’s okay.

However, I think it would be more constructive if we could all discuss the elephant standing in the room. But that’s just me.

As I stated before, I’m entitled to my opinion and so are you and every other Pigg. When you, zk, and other Piggs spout your lengthy opinions here and post enough quoted material to fill a chapter, it doesn’t bother me a bit. I don’t have to read them if I don’t wish to.

Sometimes I see CAR notices the same problem with a post long before I notice it and likewise, responds to it.

No, I don’t “know everything.” There are several subjects which I consider myself a bit “handicapped” in. But what I DO know, I know very well.

Yes, I think said Pigg is a bit “thin-skinned” and is also carrying a chip on his shoulder. Especially since I stated up front that what I posted is not about them but instead the situation they previously posted about. I don’t even know this individual so how could it possibly be about them?

Okay, so sue me. I’ll admit that I’m one of the many thousands of “no-growth advocates” in CA. I came by my position on this issue honestly. zk, if you think I am an “insufferable boor” then you are free to “ignore” me.

I find a few posters here to be same, but realize many of their posts are borne of simple ignorance. So I reply in attempt to shed light on the problems with what they posted before the masses begin buying into the hogwash. Ignorant posts tend to attract more ignorant posters until several posters are sucked into the same ignorant vortex … usually spewing from the ignorant MSM. It’s not entirely these posters’ fault because the media and even elected officials and “respected” candidates for local public office seem so “credible” when they openly spew this stuff!

[cont’d on the following thread]:

http://piggington.com/ot_public_employee_unions_attack_the_city_of_san_diegoprop_b

[earlyretirement]

[quote=bearishgurl][quote=zk]BG, your staunchest supporter writes a well-crafted, gentle post with constructive criticism, and your response is to point out where you think she’s wrong. And where other Piggs are worse than you. My question is this: Do you know you’re an insufferable boor and you don’t care? Or do you think other people are overreacting to you? Or do you see it some other way? I’m genuinely curious. [/quote]

I have personally turned in a Pigg for continual “stalking” and they were subsequently banned from the forum. And they weren’t stalking me and it isn’t who you might think it is.

Another Pigg posted behavior here that could be construed to be stalking by a third Pigg and subsequently quit doing it within 24 hrs. And again, I was not the victim but was nevertheless horrified that they would post here exactly what they did, even if they DID do it unbeknownst to the victim, who undoubtedly later read it and never posted here again.

Both of these instances were comprised of actions which occurred both on and off the internet.

[/quote]

Yikes! I haven’t been on here long enough to know all the personalities. But this stuff you’re describing sounds very creepy!!

My philosophy is anytime stuff like this happens or you have these kinds of problems on an internet message board it typically signals it’s time to step back and take some time away from it. (temporarily or permanently).

Message forums should be a positive, educational and enjoyable experience. Not a creepy, weird and stressful experience. If stuff like this is happening it’s not good and probably means things are unhealthy in some way.

JMHO.

[Author]

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