We thought we’d make $100,000 without batting an eye

[4plexowner]

Unfortunately there IS a point to a serious financial downturn

The point is to teach people one more time that

THERE IS NO SUCH THING AS A FREE LUNCH

I know I will also be hurt by a financial crash but I’d rather deal with that pain so my children can enter their adulthood in a healthy economy (instead of inheriting the current economy with its $70 trillion in unfunded liabilities to the baby boomers and its need to doctor economic statistics with things like the birth-death model that the BLS uses to lie about unemployment levels)

[4plexowner]

Unfortunately there IS a point to a serious financial downturn

The point is to teach people one more time that

THERE IS NO SUCH THING AS A FREE LUNCH

I know I will also be hurt by a financial crash but I’d rather deal with that pain so my children can enter their adulthood in a healthy economy (instead of inheriting the current economy with its $70 trillion in unfunded liabilities to the baby boomers and its need to doctor economic statistics with things like the birth-death model that the BLS uses to lie about unemployment levels)

[PerryChase]

I’m with 4plexowner on this. Risk taking and hard-work in order to improve one’s life is one thing. But buying overpriced properties with the sense of entitlement that one “deserves” the profit is plain stupid. It’s like buying a house in Temecula for $800k expecting it to increase to $1 million in a couple of years. That’s asking for trouble. Plenty of people have been living in that lala land. It’s time for a correction so that the real hard-work is rewarded.

Nothing wrong with refurbishing a house and reselling it for profit. But you have to add value and create a product that buyers want. The real work is not in the upgrade (anyone can do that) but finding the right house at the right price at the right time.

[PerryChase]

I’m with 4plexowner on this. Risk taking and hard-work in order to improve one’s life is one thing. But buying overpriced properties with the sense of entitlement that one “deserves” the profit is plain stupid. It’s like buying a house in Temecula for $800k expecting it to increase to $1 million in a couple of years. That’s asking for trouble. Plenty of people have been living in that lala land. It’s time for a correction so that the real hard-work is rewarded.

Nothing wrong with refurbishing a house and reselling it for profit. But you have to add value and create a product that buyers want. The real work is not in the upgrade (anyone can do that) but finding the right house at the right price at the right time.

[Author]

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