I really really really want to buy, soon

[CVFanGirl]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It’s worth over 2 mil now. That’s value investing in housing. Once it isn’t a value anymore, sell. That is all.

[Coronita]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It's worth over 2 mil now. That's value investing in housing. Once it isn't a value anymore, sell. That is all.

I'd like to distinguish between folks that can consistenlyt turn a profit, and people that turned a profit being in the right place at the right time. The former I would think can turn a profit at any economic cycle. The latter is no different than those Qualcomm people that were in the right company at the right time. (no offense).

It's one thing to have flipped RE in recent times and to have made money from it. But are these people really "RE investors", or just lucky?????

I'll admit something that I usually don't bring up too often. My wife and I sold a CV condo for almost 100% gain. But unlike some others that might claim financial astuteness, I'll admit we did this completely out of luck. There was motivation for that, none of which were economic astudeness on our part. For one, we wanted to move into a bigger place. Second, even though we could hold on and probably cash flow positive as a rental, the real reason why I didn't want to hold onto it was that it would leave the door open for my inlaws to permanently move here (and ditto with my parents). So I pushed to sell it. Again, the time we sold it is was shear luck of the draw. We went into escrow 3 times, each time the buyer kept backing out. But finally, as our RE kept raising prices, there was always another buyer lined up. The buyer (I think was a flipper) tried to flip it for an immediate $50k. But it backfired, because by the time they tried to do this, the market already started to sag. They eventually sold it at small loss, excluding any mortgage interests and susidized rent they provided.

So, while I don't dispute there are some on this board that are financially astute, I wouldn't say everyone (in fact most) who could time the markets right.

Which brings me to the original point. For a primary resident, if you don't consider your primary residence as an investment, it probably makes sense to buy when you can afford to live in the area/size you want to live without going out on a limb.

Some expert correct me if I'm wrong but…Primary residence doesn't generate cash flow, so the only way to "make money" really is through appreciation, right? If you agree with that, then the only way you will make money is based on appreciation less the interest portion of your mortgage you paid, offsetted by tax benefits and how much you would have paid for rent for something comparable (I'm leaving out other factors too). Yes/no?

 

 

[Coronita]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It's worth over 2 mil now. That's value investing in housing. Once it isn't a value anymore, sell. That is all.

I'd like to distinguish between folks that can consistenlyt turn a profit, and people that turned a profit being in the right place at the right time. The former I would think can turn a profit at any economic cycle. The latter is no different than those Qualcomm people that were in the right company at the right time. (no offense).

It's one thing to have flipped RE in recent times and to have made money from it. But are these people really "RE investors", or just lucky?????

I'll admit something that I usually don't bring up too often. My wife and I sold a CV condo for almost 100% gain. But unlike some others that might claim financial astuteness, I'll admit we did this completely out of luck. There was motivation for that, none of which were economic astudeness on our part. For one, we wanted to move into a bigger place. Second, even though we could hold on and probably cash flow positive as a rental, the real reason why I didn't want to hold onto it was that it would leave the door open for my inlaws to permanently move here (and ditto with my parents). So I pushed to sell it. Again, the time we sold it is was shear luck of the draw. We went into escrow 3 times, each time the buyer kept backing out. But finally, as our RE kept raising prices, there was always another buyer lined up. The buyer (I think was a flipper) tried to flip it for an immediate $50k. But it backfired, because by the time they tried to do this, the market already started to sag. They eventually sold it at small loss, excluding any mortgage interests and susidized rent they provided.

So, while I don't dispute there are some on this board that are financially astute, I wouldn't say everyone (in fact most) who could time the markets right.

Which brings me to the original point. For a primary resident, if you don't consider your primary residence as an investment, it probably makes sense to buy when you can afford to live in the area/size you want to live without going out on a limb.

Some expert correct me if I'm wrong but…Primary residence doesn't generate cash flow, so the only way to "make money" really is through appreciation, right? If you agree with that, then the only way you will make money is based on appreciation less the interest portion of your mortgage you paid, offsetted by tax benefits and how much you would have paid for rent for something comparable (I'm leaving out other factors too). Yes/no?

 

 

[Coronita]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It's worth over 2 mil now. That's value investing in housing. Once it isn't a value anymore, sell. That is all.

I'd like to distinguish between folks that can consistenlyt turn a profit, and people that turned a profit being in the right place at the right time. The former I would think can turn a profit at any economic cycle. The latter is no different than those Qualcomm people that were in the right company at the right time. (no offense).

It's one thing to have flipped RE in recent times and to have made money from it. But are these people really "RE investors", or just lucky?????

I'll admit something that I usually don't bring up too often. My wife and I sold a CV condo for almost 100% gain. But unlike some others that might claim financial astuteness, I'll admit we did this completely out of luck. There was motivation for that, none of which were economic astudeness on our part. For one, we wanted to move into a bigger place. Second, even though we could hold on and probably cash flow positive as a rental, the real reason why I didn't want to hold onto it was that it would leave the door open for my inlaws to permanently move here (and ditto with my parents). So I pushed to sell it. Again, the time we sold it is was shear luck of the draw. We went into escrow 3 times, each time the buyer kept backing out. But finally, as our RE kept raising prices, there was always another buyer lined up. The buyer (I think was a flipper) tried to flip it for an immediate $50k. But it backfired, because by the time they tried to do this, the market already started to sag. They eventually sold it at small loss, excluding any mortgage interests and susidized rent they provided.

So, while I don't dispute there are some on this board that are financially astute, I wouldn't say everyone (in fact most) who could time the markets right.

Which brings me to the original point. For a primary resident, if you don't consider your primary residence as an investment, it probably makes sense to buy when you can afford to live in the area/size you want to live without going out on a limb.

Some expert correct me if I'm wrong but…Primary residence doesn't generate cash flow, so the only way to "make money" really is through appreciation, right? If you agree with that, then the only way you will make money is based on appreciation less the interest portion of your mortgage you paid, offsetted by tax benefits and how much you would have paid for rent for something comparable (I'm leaving out other factors too). Yes/no?

 

 

[Coronita]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It's worth over 2 mil now. That's value investing in housing. Once it isn't a value anymore, sell. That is all.

I'd like to distinguish between folks that can consistenlyt turn a profit, and people that turned a profit being in the right place at the right time. The former I would think can turn a profit at any economic cycle. The latter is no different than those Qualcomm people that were in the right company at the right time. (no offense).

It's one thing to have flipped RE in recent times and to have made money from it. But are these people really "RE investors", or just lucky?????

I'll admit something that I usually don't bring up too often. My wife and I sold a CV condo for almost 100% gain. But unlike some others that might claim financial astuteness, I'll admit we did this completely out of luck. There was motivation for that, none of which were economic astudeness on our part. For one, we wanted to move into a bigger place. Second, even though we could hold on and probably cash flow positive as a rental, the real reason why I didn't want to hold onto it was that it would leave the door open for my inlaws to permanently move here (and ditto with my parents). So I pushed to sell it. Again, the time we sold it is was shear luck of the draw. We went into escrow 3 times, each time the buyer kept backing out. But finally, as our RE kept raising prices, there was always another buyer lined up. The buyer (I think was a flipper) tried to flip it for an immediate $50k. But it backfired, because by the time they tried to do this, the market already started to sag. They eventually sold it at small loss, excluding any mortgage interests and susidized rent they provided.

So, while I don't dispute there are some on this board that are financially astute, I wouldn't say everyone (in fact most) who could time the markets right.

Which brings me to the original point. For a primary resident, if you don't consider your primary residence as an investment, it probably makes sense to buy when you can afford to live in the area/size you want to live without going out on a limb.

Some expert correct me if I'm wrong but…Primary residence doesn't generate cash flow, so the only way to "make money" really is through appreciation, right? If you agree with that, then the only way you will make money is based on appreciation less the interest portion of your mortgage you paid, offsetted by tax benefits and how much you would have paid for rent for something comparable (I'm leaving out other factors too). Yes/no?

 

 

[Coronita]

Warren Buffet is most famous for VALUE investing. My own father in law lives a life of retirement luxury by buying undervalued stocks. I bought my first property in the UTC area, the area so many like to call a dump. It made me $125k in couple of years. My realtor bought his LJ Shores house for a mere 600k at around the same time. It's worth over 2 mil now. That's value investing in housing. Once it isn't a value anymore, sell. That is all.

I'd like to distinguish between folks that can consistenlyt turn a profit, and people that turned a profit being in the right place at the right time. The former I would think can turn a profit at any economic cycle. The latter is no different than those Qualcomm people that were in the right company at the right time. (no offense).

It's one thing to have flipped RE in recent times and to have made money from it. But are these people really "RE investors", or just lucky?????

I'll admit something that I usually don't bring up too often. My wife and I sold a CV condo for almost 100% gain. But unlike some others that might claim financial astuteness, I'll admit we did this completely out of luck. There was motivation for that, none of which were economic astudeness on our part. For one, we wanted to move into a bigger place. Second, even though we could hold on and probably cash flow positive as a rental, the real reason why I didn't want to hold onto it was that it would leave the door open for my inlaws to permanently move here (and ditto with my parents). So I pushed to sell it. Again, the time we sold it is was shear luck of the draw. We went into escrow 3 times, each time the buyer kept backing out. But finally, as our RE kept raising prices, there was always another buyer lined up. The buyer (I think was a flipper) tried to flip it for an immediate $50k. But it backfired, because by the time they tried to do this, the market already started to sag. They eventually sold it at small loss, excluding any mortgage interests and susidized rent they provided.

So, while I don't dispute there are some on this board that are financially astute, I wouldn't say everyone (in fact most) who could time the markets right.

Which brings me to the original point. For a primary resident, if you don't consider your primary residence as an investment, it probably makes sense to buy when you can afford to live in the area/size you want to live without going out on a limb.

Some expert correct me if I'm wrong but…Primary residence doesn't generate cash flow, so the only way to "make money" really is through appreciation, right? If you agree with that, then the only way you will make money is based on appreciation less the interest portion of your mortgage you paid, offsetted by tax benefits and how much you would have paid for rent for something comparable (I'm leaving out other factors too). Yes/no?

 

 

[125mph]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I’ll just blow that money on girls and gambling 🙂 (just kidding)

[125mph]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I’ll just blow that money on girls and gambling 🙂 (just kidding)

[125mph]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I’ll just blow that money on girls and gambling 🙂 (just kidding)

[125mph]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I’ll just blow that money on girls and gambling 🙂 (just kidding)

[125mph]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I’ll just blow that money on girls and gambling 🙂 (just kidding)

[Coronita]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I'll just blow that money on girls and gambling 🙂 (just kidding)

 

Do it while you can :)…I wish I bought my sports car when I can. I have other financial responsibilities now. BTW: may I ask if you are an engineer? If so, I need to talk to my boss after the holidays 🙂

[Coronita]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I'll just blow that money on girls and gambling 🙂 (just kidding)

 

Do it while you can :)…I wish I bought my sports car when I can. I have other financial responsibilities now. BTW: may I ask if you are an engineer? If so, I need to talk to my boss after the holidays 🙂

[Coronita]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I'll just blow that money on girls and gambling 🙂 (just kidding)

 

Do it while you can :)…I wish I bought my sports car when I can. I have other financial responsibilities now. BTW: may I ask if you are an engineer? If so, I need to talk to my boss after the holidays 🙂

[Coronita]

Thanks for all your comments.

I will sit it out for another 6-18 months and see how the RE market is doing.

In the mean time, I guess I'll just blow that money on girls and gambling 🙂 (just kidding)

 

Do it while you can :)…I wish I bought my sports car when I can. I have other financial responsibilities now. BTW: may I ask if you are an engineer? If so, I need to talk to my boss after the holidays 🙂

[Author]

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