All Forum Posts by: Rusty Thompson

I should be able to make it.

Not a small # would be the amount you won (if you played every ticket) in no jackpot winners.
29,939,120

I guess you could use it to pay some of the taxes :-)

I understand where your coming from Jon Holdman. And I appreciate where your saying.
I was more referring to psychology of playing the lottery & your personal odds of winning, not your odds of loosing over the long haul. In my experience the lottery is rarely under 10m, the cost of playing is always the same. Very few of us have the money to buy all the tickets.

Why, if your only going to buy one ticket, is it better to buy one at 10m as apposed to 500m. Your personal odds don't change. The payout is always huge compared to what a normal person makes.

The hype is what causes rational people to buy in a "over heated" market. It applies across the board, with any "investment". The personal perception is what is really important.

Jeff S if I was going to play the lottery. I would run a random number generator once and play those numbers for ever. Maybe cross reference with the most common # combinations. It may not increase my odds of winning, but it will increase my odds of not having to share the pot if I ever did.

The hype over the dollar amount is funny. Goes right along with the presentation by Bruce Norris on what drives the economy of real estate. For some reason it is a better idea to buy a ticket when the amount is high than it is when the amount is low. Nothing has changed, the odds never change. But people get hyped up so everyone has to go out and buy a ticket because they think they may be missing out on something.

Wait.... feudal serf's come with.... that's going to add value. Low cost labor is going to have to be calculated into the rehab costs, but also added to the NOI.

Price may not exceed FHA's "Jumbo Castle Loan Guidelines"

I guess what I'm asking is what is your goal?
How are you going to convince the bank that its in their best interest?

Your looking to reduce the principle with a short pay off? I.E. a short sale without the corporation from the borrower? Financing coming from some other source?

All I can say is good luck. I tried to get a principle reduction for my parents through Citi. It was a no go. Term change was the only thing they would consider. I even offered a compromise of a reduction greater than the area comps (meet in the middle). They were having none of it.

Which bank is it through that will not short sale it? Sounds to me like they are going forward with the foreclosure & don't want to muddy the waters. Just my opinion of course.

Learn your market & find your own deals... Take control of your own business. Otherwise how are you going to know the comps are correct?