[Multiplepropertyowner]

Well said Deal Hunter.We are from some of the same roots in regard to families in RE. My family got to SD in the 40’s after the war and my Pop’s pretty much built Mission Valley with his partnership group (Mission Valley Inn, The Town and Country and a few others)
You comment on Real Estate always coming back reminded me of his 8 keys to real estate investing.
1. Use other peoples money to make yours. (Thus, i am a big fan of the 100% loan and used for all it was worth)
2. It is not the price you pay, it is the terms of the agreement that matter.
3. You make your best deals when you have the least cash.
4. Never live more then an afternoons drive from your properties.
5. Stay out of stocks!!!!!!
6. Scour the papers for divorce and death notices. Desperate people make desperate decisions.
7. Cash is King
8. Real Estate always comes back.
Follow those rules and you will make a killing no matter what the market conditions!

[Multiplepropertyowner]

PW,
My point was that having neg equity is not that big of a deal if you can manage the position. It is only a temp situation that will in time turn. I just feel that the piece on ABC painted everyone with neg equity in a position of distress. If you have a fixed loan that you can manage the debt service you are not in distress, just waiting for better timing.

[Multiplepropertyowner]

PW,
My point was that having neg equity is not that big of a deal if you can manage the position. It is only a temp situation that will in time turn. I just feel that the piece on ABC painted everyone with neg equity in a position of distress. If you have a fixed loan that you can manage the debt service you are not in distress, just waiting for better timing.

[Multiplepropertyowner]

PW,
My point was that having neg equity is not that big of a deal if you can manage the position. It is only a temp situation that will in time turn. I just feel that the piece on ABC painted everyone with neg equity in a position of distress. If you have a fixed loan that you can manage the debt service you are not in distress, just waiting for better timing.

[Multiplepropertyowner]

PW,
My point was that having neg equity is not that big of a deal if you can manage the position. It is only a temp situation that will in time turn. I just feel that the piece on ABC painted everyone with neg equity in a position of distress. If you have a fixed loan that you can manage the debt service you are not in distress, just waiting for better timing.

[Multiplepropertyowner]

PW,
My point was that having neg equity is not that big of a deal if you can manage the position. It is only a temp situation that will in time turn. I just feel that the piece on ABC painted everyone with neg equity in a position of distress. If you have a fixed loan that you can manage the debt service you are not in distress, just waiting for better timing.

[Multiplepropertyowner]

Lack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.

I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.

[Multiplepropertyowner]

Lack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.

I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.

[Multiplepropertyowner]

Lack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.

I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.

[Multiplepropertyowner]

Lack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.

I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.

[Multiplepropertyowner]

Lack of equity in your home does not signify underwater. All it means is that that particular asset is in a stagnant position. Underwater is the inability to meet your monetary commitments.
My last property was bought back in July 2007. It is upside down, but I figured this in. I bought it as a 10-15 year hold to hopefully cash in to pay for my 5 year olds college needs. If that does not work out, I will have to keep it as a rental.

I thought the piece on the nightly news portrayed it (the 10% of people upside down) in a really bad light. The real issue is, what % of these folks are in financial straights. Seems to me that the media is just feeding on this. Every night this last week Charles Gibson led with a story on the housing market. It is all about the ratings.

[Multiplepropertyowner]

How can a person just walk away without owing the negative balance? Does the new BK laws not effect this? Anyone got an answer? If that is true, the banks are screwed.

[Multiplepropertyowner]

How can a person just walk away without owing the negative balance? Does the new BK laws not effect this? Anyone got an answer? If that is true, the banks are screwed.

[Multiplepropertyowner]

How can a person just walk away without owing the negative balance? Does the new BK laws not effect this? Anyone got an answer? If that is true, the banks are screwed.

[Multiplepropertyowner]

How can a person just walk away without owing the negative balance? Does the new BK laws not effect this? Anyone got an answer? If that is true, the banks are screwed.

[Author]

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