[tugg49]

Rules for qualifying are that you get out of all payments before you buy and then load up afterwards because you’re IN!
In 1990 I moved from the midwest and a 9 buck an hour job to San Diego and lived in a North Park 1 bedroom. It sucked but I got rid of the payments and was in a house within a year. Then I bought all the toys. San Diego rules are the real estate pays for the toys. It’s always been that way….just don’t get caught when the music stops.

[tugg49]

I bought one of those cars at the auctions down in San Ysidro. Great deal on a truck. 7200 for a five year old 4X4. Drugs were supposedly in the trailer the truck was pulling. Two weeks later the thing dies going up a hill. I get a tow and tell the mechanic where I bought it. He says he’ll have to call the DEA if he finds an “extra” somewhere or a kilo broke open in the gas tank. Talk about sweating bullets! (It was the cat converter.) Anyway I took it to the military base and had the dogs sweep it. All clear but I don’t think I would buy another one.
Todays environment has me the same way with “drug dealers” carnage (or EPA for that matter). How do you explain to a DEA guy or LEO that your house was a prior DD’s? Because the plumber found a kilo in the sewer cleanout. You’ll still go to jail, you’ll still be on the news, you’ll still be a suspected offender…god save you if your job has security issues. Just because it’s a deal!? I got just a little close to it and wouldn’t do it again. Images of downtown jail and the explaining I’d have to had done (plus legal costs) ain’t worth no amount of cash. Not to mention involving the family and anyone home at time of the arrest.

[tugg49]

I bought one of those cars at the auctions down in San Ysidro. Great deal on a truck. 7200 for a five year old 4X4. Drugs were supposedly in the trailer the truck was pulling. Two weeks later the thing dies going up a hill. I get a tow and tell the mechanic where I bought it. He says he’ll have to call the DEA if he finds an “extra” somewhere or a kilo broke open in the gas tank. Talk about sweating bullets! (It was the cat converter.) Anyway I took it to the military base and had the dogs sweep it. All clear but I don’t think I would buy another one.
Todays environment has me the same way with “drug dealers” carnage (or EPA for that matter). How do you explain to a DEA guy or LEO that your house was a prior DD’s? Because the plumber found a kilo in the sewer cleanout. You’ll still go to jail, you’ll still be on the news, you’ll still be a suspected offender…god save you if your job has security issues. Just because it’s a deal!? I got just a little close to it and wouldn’t do it again. Images of downtown jail and the explaining I’d have to had done (plus legal costs) ain’t worth no amount of cash. Not to mention involving the family and anyone home at time of the arrest.

[tugg49]

I’ve read that if you hold bulk gold you have to make sure the assay certificate is valid. A means of verifying it’s not a painted bar of lead. But what do I know. I’ve got a piano bench full of Iraqi Dinar I bought at 1600 to a buck.

[tugg49]

Hodads for burgers in Ocean Beach

Iowa porker in Santee for a Fried Tenderloin.

Konos for Breakfast in PB.

The Brigantine for a decent Shelter Island Dinner.

Keiths in Nat. City for a diner type meal.

A weekend anchored off Glorietta Bay cause if you don’t own a boat in San Diego you might as well live in Yuma.

Mitsuwa market for a takeout bento just like the Hoka Hoka Bento shop.

A bicycle ride from Balboa Park to Shelter Island and back.

Lindbergh Field after a two week trip to Seattle in January. It NEVER feels bad to be back in San Diego.

Apple season in the mountains.

When the heat season breaks and the weather cools in September. The dog gets the beach back.

And I just remembered….A long lunch at Point Loma Seafood.

[tugg49]

I’m on a hillside out in Lakeside and I’m watching my neighbor tear apart his 40 year old 900K house he bought at the peak. He and his wife are always complaining about the shoddy work they are finding under the carpet/wallboard. It’s unreal the money they are plowing into their house.

But, I always remember my neighbor when he cashed out and moved back to Georgia. All profit….He hit the jackpot and was grinning like a cheshire. He was a wise real estate investor/speculator. I’m sitting well with a 300k home-hoping to be like my wise ex-neighbor. With a 900k comp (HAH!) maybe I should sell.

[tugg49]

I’ve got four homes w/in a quarter mile that have been empty all year. No for sale/no signs of life/no nothing. What about those homes and who in the heck can hold an empty house for 6 months w/o some kind of activity. I stopped counting for sale signs and start looking for piling trash, unkempt landscape and newspapers composting in the driveway.
If there is a bottom the initial glut on a minor upswing will be devastating on prices and allowances. A ways to go for capitulation.

[tugg49]

I’ve got four homes w/in a quarter mile that have been empty all year. No for sale/no signs of life/no nothing. What about those homes and who in the heck can hold an empty house for 6 months w/o some kind of activity. I stopped counting for sale signs and start looking for piling trash, unkempt landscape and newspapers composting in the driveway.
If there is a bottom the initial glut on a minor upswing will be devastating on prices and allowances. A ways to go for capitulation.

[tugg49]

Just financed the wife’s education and internship using an interest only loan. I’m on the last year and going to have to bite the bullet and re-fi. I’ve got the original price of the house safely built up in equity and plan to sell in the future. I may even get another I/O loan. Building income power is a good use of the I/O loan. Buying new cars and boats may not be. I paid a bit on the equity during the I/O loan but I’d say don’t plan on paying too much to equity. Life gets in the way and the ol’ grasshopper and the ant scenario reveals we are closer to grasshoppers than ants. Most guidance is negative but specific cases can utilize an I/O loan to an advantage. I’d do it. I’m living in 3000 s.f. for 1500 a month. I’d be 75 with a 30 year when the last check is written. Ain’t gonna happen.

[tugg49]

Just financed the wife’s education and internship using an interest only loan. I’m on the last year and going to have to bite the bullet and re-fi. I’ve got the original price of the house safely built up in equity and plan to sell in the future. I may even get another I/O loan. Building income power is a good use of the I/O loan. Buying new cars and boats may not be. I paid a bit on the equity during the I/O loan but I’d say don’t plan on paying too much to equity. Life gets in the way and the ol’ grasshopper and the ant scenario reveals we are closer to grasshoppers than ants. Most guidance is negative but specific cases can utilize an I/O loan to an advantage. I’d do it. I’m living in 3000 s.f. for 1500 a month. I’d be 75 with a 30 year when the last check is written. Ain’t gonna happen.

[tugg49]

I traded for a few years with 10K just to see what I could do. Nothing big but like a casino…fun. I was down to 4k at the worst and up to 12k before I pulled the trigger and sold out. Plus 7 bucks each way. I used 500 buck blocks buying up and would sell out in minute. Skitteshness saves money. Scottrade is the only way.
What’d I learn:
Trick is not to lose
Know your exit on entrance
Take the profit and be happy
I wouldn’t daytrade anything but .pk and .bb watch for the trend and in two weeks you can see 500%.
Don’t fall in love. Treat stocks like whores.
I hated the weekends and every minute was watching for the MM’s to manipulate the stock down 20% before the next 100% run. Don’t use stops….which means you’re stuck to the monitor.
It’s a brutal hobby and Scottrade needs 25K for DT accounts which knocked me out at the end. I did about a half year of heavy trading before they sent me the warning. If you manage to stay liquid it’ll be brutal. Best thing to do is lose it all and get it behind you. Not for the perforated stomachs.

[tugg49]

I traded for a few years with 10K just to see what I could do. Nothing big but like a casino…fun. I was down to 4k at the worst and up to 12k before I pulled the trigger and sold out. Plus 7 bucks each way. I used 500 buck blocks buying up and would sell out in minute. Skitteshness saves money. Scottrade is the only way.
What’d I learn:
Trick is not to lose
Know your exit on entrance
Take the profit and be happy
I wouldn’t daytrade anything but .pk and .bb watch for the trend and in two weeks you can see 500%.
Don’t fall in love. Treat stocks like whores.
I hated the weekends and every minute was watching for the MM’s to manipulate the stock down 20% before the next 100% run. Don’t use stops….which means you’re stuck to the monitor.
It’s a brutal hobby and Scottrade needs 25K for DT accounts which knocked me out at the end. I did about a half year of heavy trading before they sent me the warning. If you manage to stay liquid it’ll be brutal. Best thing to do is lose it all and get it behind you. Not for the perforated stomachs.

[tugg49]

HOAR!

Housing, Oil, Automobiles and Retail. Show me the strength and I’ll buy back int this market. I can’t see the bulls behind this market anymore. Excess inventory, Record high gas prices, 100K jobs lost, and a bunch of whack jobs at Wal-Mart…at least the “piggites” remember what the trickle down effect does don’t we?

[tugg49]

I try to keep it in perspective. Wealth and success are intertwined and one can make up for the other. I’ve made (and spent) enough money to know I’ll never make enough money.
If you were a social security child and have grown into a 100k a year position I would say you are wealthy and a success. If you are a Harvard grad and making 150K a year I would consider that a bit of a disappointment (depending on what you are doing). Wealth is not a money in the bank figure. Wealth is the ability to write the thousand dollar checks and not flinch. “I wish I $1 mill in debt cause that means someone believes in me enough to front me a million dollars”.

[tugg49]

May not spread but if there’s a major maintenance issue the “special assessments” can be painful. Our HOA “team” put off doing the roof and a rainstorm flooded a large unit via the drywall ceiling and it cost us a fortune for the deferred roof and repairs to the unit. We were in a small 8-plex and it hurt. Get the financial staement from the HOA and see how “liquid” you are.

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