All Forum Posts by: Account Closed

Nice post Ominae!
Welcome

Mike that plant example is awesome. I never would have thought of that. Something like that can only come from dealing with a lot of tenents and being in the trenches.

I do have a knack for discerning between investors who make a living investing, part time investors who really make a living selling advice and trades, and gurus who are mainly in the seminar business. I think your advice resonates strongly with many here because you come across as someone who makes a living investing/landlording.

I appreciate it when you call out the sellers, the gurus and the weekend warriors who are advising us. I also don't mind disagreement in these threads at all. To me it is a good discussion with some valid points on all sides.

I still cannot grasp this one clearly. Not because it isn't valid. I hear it all the time from other real in-the-trenches investors like you. To me the most powerful advantage; the main reasons for learning about investing in real estate - is to create monthly rent checks that cover my monthly living expenses and monthly lifestyle expenses, after all operating expenses are covered on the properties.

So for someone with that goal, can you give me an example of how your most powerful advantages would apply and win out over the paid off homes?

Also, total newbie question, for the tax advantages, wouldn't I still be able to write off depreciation, and just be missing the mortgage interest on a paid off house?

Pot is illegal for a reason. And it has nothing to do with economics. It is a gateway drug that only sinners smoke. You watch, by next week Phelps will be blowing strangers in dark alleys for heroin and cocaine money.

Sorry, I couldn't resist... I do not smoke it but I am glad it's finally somewhat legal here and even in Michigan now. Maybe one day you will need a doctor's note to grab a beer instead of a bong hit, depending on the economic implications.

Tim once again you made me laugh out loud.
*In an unrelated note I have to brag that I just had two In N Out burgers. *sorry everyone else; inside joke ish type stuff*

Right on, Hal -
Go Ludvig Von Mises!

My thoughts on how we let the whole thing happen goes back the conception of the federal reserve system by a group of competing bankers in secrecy (all public data now). Then letting it get passed during the holidays back in the day.

It's easy to find Benjamin Franklin quotes stating that the similar central banking system in Europe back then, which was being forced on the colonists, was one of the main reasons for the revolution. Though I don't remember that one stated in school textbooks too much, hmmm.

This is bound to happen when a central cartel of bankers control the money supply and when the books cannot even be audited by congress.

I am a conspiracy theorist! They want to keep us in fear and watching TV! Global currency here we come...

But I am also a fan of the 50% rule and here to invest in real estate, and anything else that still holds intrinsic value when fiat currencies are manipulated and then collapse (as they always have).

Lee - That is hilarious!

Thanks for sharing. Next mention that the people who run things want the general population watching hours and hours of TV so we can stay ignorant and dumbed down. The Realtors and Office Manager will have you committed.

I really am starting to sound like a conspiracy theorist. But I assure you I am just here to learn how to navigate through the system and build wealth. That and make some friends with common interests.

Yuri the electrician came by and set me straight. I did have it wired wrong. The blue didn't go to the ground screw, it was part of the light switch. All the metal boxes are grounded here, so I need to lose the two pronged I installed.

The piece mind and discovery of a good electrician was worth the 65 an hour.

Thanks again everyone.

I like this Tim!
I am close. I'd swap Reagan with Ron Paul.
Love the Nuge/Ghandi combo. Damn!

Tom and Jon - Thanks

Tom you nailed it. That is how one outlet functions by the switch. Yesterday I checked the outlet closest to the switch. It looked wired correctly. But I redid the outlet anyway. Two blacks on golds, two whites on silvers, one green on green. Still shorting on switch flip. Today I will check a two pronged duplex in the same circuit. That one I didn't feel great about after originally installing.