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bearishgurl
Participant[quote=AN]Me, defensive? Nah, it all fun and game for me. I just find it funny when people get snobby and look down on others based on their prejudices.[/quote] Again, you are hogging the thread and boring Pigg readers by your incessant defensive badgering. If you already “know all the answers,” then why are you asking??
You may infer whatever you like about me. I have lived in and and also owned rental units for past 32 years in dtn. SD, City Heights, SE San Diego, PH, Bonita and CV. None of these areas are upper MC except for Bonita. I did not inherit any of it.
[quote=AN]Did I say 1994 is the bottom and 2004 is the top?[/quote] Yes, reread your posts again.
[quote=AN]You seemed to glazed over the tract home in Solana beach I brought up.[/quote]I was unable to open the link you provided.
[quote-AN]Are you trying to say once you get fired, you active income is done and gone?[/quote]Yes, if one is over the age of 55, and sometimes 50 and loses a long-time position with benefits through layoff, firing, RIF or “golden handshake,” then the chances of them having to contract their services or consult for a living after that are very great in this economy. I don’t know how old you are, but age discrimination is rampant, particularly in small business. I myself “retired” over a decade ago and have a pension but still work, albeit not full time unless I have a big project. In that case, I put in many hours “overtime.”
[quote=AN]Why don’t you tell us more about you other missed opportunity. It’s much more interesting than my lower MC home.[/quote]Again, OT and you did not answer my question. Did you make a profit??
AN, may I suggest to you that if you have any more questions as to how the world works, you ask another Pigg whom you feel is more qualified than me to answer them.
Participant[quote=AN]Me, defensive? Nah, it all fun and game for me. I just find it funny when people get snobby and look down on others based on their prejudices.[/quote] Again, you are hogging the thread and boring Pigg readers by your incessant defensive badgering. If you already “know all the answers,” then why are you asking??
You may infer whatever you like about me. I have lived in and and also owned rental units for past 32 years in dtn. SD, City Heights, SE San Diego, PH, Bonita and CV. None of these areas are upper MC except for Bonita. I did not inherit any of it.
[quote=AN]Did I say 1994 is the bottom and 2004 is the top?[/quote] Yes, reread your posts again.
[quote=AN]You seemed to glazed over the tract home in Solana beach I brought up.[/quote]I was unable to open the link you provided.
[quote-AN]Are you trying to say once you get fired, you active income is done and gone?[/quote]Yes, if one is over the age of 55, and sometimes 50 and loses a long-time position with benefits through layoff, firing, RIF or “golden handshake,” then the chances of them having to contract their services or consult for a living after that are very great in this economy. I don’t know how old you are, but age discrimination is rampant, particularly in small business. I myself “retired” over a decade ago and have a pension but still work, albeit not full time unless I have a big project. In that case, I put in many hours “overtime.”
[quote=AN]Why don’t you tell us more about you other missed opportunity. It’s much more interesting than my lower MC home.[/quote]Again, OT and you did not answer my question. Did you make a profit??
AN, may I suggest to you that if you have any more questions as to how the world works, you ask another Pigg whom you feel is more qualified than me to answer them.
ParticipantSherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.
Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.
ParticipantSherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.
Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.
ParticipantSherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.
Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.
ParticipantSherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.
Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.
ParticipantSherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.
Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.
Participant[quote=AN]If I was old enough and had $50k in 1998, I could have made a few millions by 2000. There are opportunities everywhere, not just in RE. The kind of opportunity you had in 1994 is not available to everyone. You just happened to be in the right place at the right time. But you failed to jump on that opportunity. BTW, you compared near bottom of the last cycle to the near top of this cycle. There’s nothing interesting about that. You don’t even need to have a very special property in a special area either.[/quote] (emphasis added)
Having 50K in 1994 would not have been enough to take advantage of this opportunity.
AN, you seem a little defensive. FWIW, you can consult other Piggs on this, but the “bottom of the last cycle” was Fall 1997. The “top of the current bubble” was Fall 2005. I wasn’t even thinking about “cycles” at the time when this thing fell in my lap in May 1994. I was thinking that this property was exactly what “I” wanted. Unfortunately, I did not have full say at the time. My spouse needed a hunk of flat land outside the back door so he could keep close tabs of all his vehicles and we couldn’t carry two properties.
[quote=AN]What do you mean active income is fleeting? You need to have/had active income to build enough asset to grow your passive income.[/quote]
Again, we seem to be going around and around on this but income is also inherited (or the principal by which income is derived from) or left in trust for a future heir to use while one is still alive.
The continuation of “active” income is completely out of one’s control unless they have seniority in a union, their position is protected by public law or are under an iron-clad contract with a buyout provision. The rest of the “worker-bees” can be put out on the street with their COBRA papers in their armpit with little to no warning.
[quote=AN]How did that house got bought in the first place? Be it by their parents or grand parents? Don’t they need income to buy that?[/quote]
Yes, they probably did. They needed $4,000 to $30,000 cash or the ability to make payments of $64 to $190 mo. (+ taxes & ins.) for 20 yrs. (on a new loan) depending on the location. In most cases when they took out loans, down-payments were not required. Many loans were assumed from the prev. owner with no money down.
[quote=AN]I bought a fixer myself and did a lot of DIY projects on it.[/quote]
Do tell us. Did you make a profit when you sold this property?
Participant[quote=AN]If I was old enough and had $50k in 1998, I could have made a few millions by 2000. There are opportunities everywhere, not just in RE. The kind of opportunity you had in 1994 is not available to everyone. You just happened to be in the right place at the right time. But you failed to jump on that opportunity. BTW, you compared near bottom of the last cycle to the near top of this cycle. There’s nothing interesting about that. You don’t even need to have a very special property in a special area either.[/quote] (emphasis added)
Having 50K in 1994 would not have been enough to take advantage of this opportunity.
AN, you seem a little defensive. FWIW, you can consult other Piggs on this, but the “bottom of the last cycle” was Fall 1997. The “top of the current bubble” was Fall 2005. I wasn’t even thinking about “cycles” at the time when this thing fell in my lap in May 1994. I was thinking that this property was exactly what “I” wanted. Unfortunately, I did not have full say at the time. My spouse needed a hunk of flat land outside the back door so he could keep close tabs of all his vehicles and we couldn’t carry two properties.
[quote=AN]What do you mean active income is fleeting? You need to have/had active income to build enough asset to grow your passive income.[/quote]
Again, we seem to be going around and around on this but income is also inherited (or the principal by which income is derived from) or left in trust for a future heir to use while one is still alive.
The continuation of “active” income is completely out of one’s control unless they have seniority in a union, their position is protected by public law or are under an iron-clad contract with a buyout provision. The rest of the “worker-bees” can be put out on the street with their COBRA papers in their armpit with little to no warning.
[quote=AN]How did that house got bought in the first place? Be it by their parents or grand parents? Don’t they need income to buy that?[/quote]
Yes, they probably did. They needed $4,000 to $30,000 cash or the ability to make payments of $64 to $190 mo. (+ taxes & ins.) for 20 yrs. (on a new loan) depending on the location. In most cases when they took out loans, down-payments were not required. Many loans were assumed from the prev. owner with no money down.
[quote=AN]I bought a fixer myself and did a lot of DIY projects on it.[/quote]
Do tell us. Did you make a profit when you sold this property?
Participant[quote=AN]If I was old enough and had $50k in 1998, I could have made a few millions by 2000. There are opportunities everywhere, not just in RE. The kind of opportunity you had in 1994 is not available to everyone. You just happened to be in the right place at the right time. But you failed to jump on that opportunity. BTW, you compared near bottom of the last cycle to the near top of this cycle. There’s nothing interesting about that. You don’t even need to have a very special property in a special area either.[/quote] (emphasis added)
Having 50K in 1994 would not have been enough to take advantage of this opportunity.
AN, you seem a little defensive. FWIW, you can consult other Piggs on this, but the “bottom of the last cycle” was Fall 1997. The “top of the current bubble” was Fall 2005. I wasn’t even thinking about “cycles” at the time when this thing fell in my lap in May 1994. I was thinking that this property was exactly what “I” wanted. Unfortunately, I did not have full say at the time. My spouse needed a hunk of flat land outside the back door so he could keep close tabs of all his vehicles and we couldn’t carry two properties.
[quote=AN]What do you mean active income is fleeting? You need to have/had active income to build enough asset to grow your passive income.[/quote]
Again, we seem to be going around and around on this but income is also inherited (or the principal by which income is derived from) or left in trust for a future heir to use while one is still alive.
The continuation of “active” income is completely out of one’s control unless they have seniority in a union, their position is protected by public law or are under an iron-clad contract with a buyout provision. The rest of the “worker-bees” can be put out on the street with their COBRA papers in their armpit with little to no warning.
[quote=AN]How did that house got bought in the first place? Be it by their parents or grand parents? Don’t they need income to buy that?[/quote]
Yes, they probably did. They needed $4,000 to $30,000 cash or the ability to make payments of $64 to $190 mo. (+ taxes & ins.) for 20 yrs. (on a new loan) depending on the location. In most cases when they took out loans, down-payments were not required. Many loans were assumed from the prev. owner with no money down.
[quote=AN]I bought a fixer myself and did a lot of DIY projects on it.[/quote]
Do tell us. Did you make a profit when you sold this property?
Participant[quote=AN]If I was old enough and had $50k in 1998, I could have made a few millions by 2000. There are opportunities everywhere, not just in RE. The kind of opportunity you had in 1994 is not available to everyone. You just happened to be in the right place at the right time. But you failed to jump on that opportunity. BTW, you compared near bottom of the last cycle to the near top of this cycle. There’s nothing interesting about that. You don’t even need to have a very special property in a special area either.[/quote] (emphasis added)
Having 50K in 1994 would not have been enough to take advantage of this opportunity.
AN, you seem a little defensive. FWIW, you can consult other Piggs on this, but the “bottom of the last cycle” was Fall 1997. The “top of the current bubble” was Fall 2005. I wasn’t even thinking about “cycles” at the time when this thing fell in my lap in May 1994. I was thinking that this property was exactly what “I” wanted. Unfortunately, I did not have full say at the time. My spouse needed a hunk of flat land outside the back door so he could keep close tabs of all his vehicles and we couldn’t carry two properties.
[quote=AN]What do you mean active income is fleeting? You need to have/had active income to build enough asset to grow your passive income.[/quote]
Again, we seem to be going around and around on this but income is also inherited (or the principal by which income is derived from) or left in trust for a future heir to use while one is still alive.
The continuation of “active” income is completely out of one’s control unless they have seniority in a union, their position is protected by public law or are under an iron-clad contract with a buyout provision. The rest of the “worker-bees” can be put out on the street with their COBRA papers in their armpit with little to no warning.
[quote=AN]How did that house got bought in the first place? Be it by their parents or grand parents? Don’t they need income to buy that?[/quote]
Yes, they probably did. They needed $4,000 to $30,000 cash or the ability to make payments of $64 to $190 mo. (+ taxes & ins.) for 20 yrs. (on a new loan) depending on the location. In most cases when they took out loans, down-payments were not required. Many loans were assumed from the prev. owner with no money down.
[quote=AN]I bought a fixer myself and did a lot of DIY projects on it.[/quote]
Do tell us. Did you make a profit when you sold this property?
Participant[quote=AN]If I was old enough and had $50k in 1998, I could have made a few millions by 2000. There are opportunities everywhere, not just in RE. The kind of opportunity you had in 1994 is not available to everyone. You just happened to be in the right place at the right time. But you failed to jump on that opportunity. BTW, you compared near bottom of the last cycle to the near top of this cycle. There’s nothing interesting about that. You don’t even need to have a very special property in a special area either.[/quote] (emphasis added)
Having 50K in 1994 would not have been enough to take advantage of this opportunity.
AN, you seem a little defensive. FWIW, you can consult other Piggs on this, but the “bottom of the last cycle” was Fall 1997. The “top of the current bubble” was Fall 2005. I wasn’t even thinking about “cycles” at the time when this thing fell in my lap in May 1994. I was thinking that this property was exactly what “I” wanted. Unfortunately, I did not have full say at the time. My spouse needed a hunk of flat land outside the back door so he could keep close tabs of all his vehicles and we couldn’t carry two properties.
[quote=AN]What do you mean active income is fleeting? You need to have/had active income to build enough asset to grow your passive income.[/quote]
Again, we seem to be going around and around on this but income is also inherited (or the principal by which income is derived from) or left in trust for a future heir to use while one is still alive.
The continuation of “active” income is completely out of one’s control unless they have seniority in a union, their position is protected by public law or are under an iron-clad contract with a buyout provision. The rest of the “worker-bees” can be put out on the street with their COBRA papers in their armpit with little to no warning.
[quote=AN]How did that house got bought in the first place? Be it by their parents or grand parents? Don’t they need income to buy that?[/quote]
Yes, they probably did. They needed $4,000 to $30,000 cash or the ability to make payments of $64 to $190 mo. (+ taxes & ins.) for 20 yrs. (on a new loan) depending on the location. In most cases when they took out loans, down-payments were not required. Many loans were assumed from the prev. owner with no money down.
[quote=AN]I bought a fixer myself and did a lot of DIY projects on it.[/quote]
Do tell us. Did you make a profit when you sold this property?
Participant[quote=UCGal]Not as big a problem in Pt Loma – it’s foggy/overcast a lot of the time. LOL.
(I lived in Pt. Loma in the 80’s – I remember….
I was in the back duplex of this house, the Portuguese Historical Society was in the front.)
http://www.sdlookup.com/MLS-100003586-2919-2921_Upshur_St_San_Diego_CA_92106
[/quote]Well, shades of Kellogg Beach, UCGal! Who cares about lot size when you can walk to all this??
How fun it must have been, LOL!
Participant[quote=UCGal]Not as big a problem in Pt Loma – it’s foggy/overcast a lot of the time. LOL.
(I lived in Pt. Loma in the 80’s – I remember….
I was in the back duplex of this house, the Portuguese Historical Society was in the front.)
http://www.sdlookup.com/MLS-100003586-2919-2921_Upshur_St_San_Diego_CA_92106
[/quote]Well, shades of Kellogg Beach, UCGal! Who cares about lot size when you can walk to all this??
How fun it must have been, LOL!
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