All Forum Posts by: Steven Gore

My favorite are those offers which imply that a *** digital product *** well somehow "sell out".

How to buy REOs:
1. Phone realtor (all bank owned properties are required to be listed)
2. Ask for bank owned properties in the area.
3. Make offers.
4. Get property under contract.
5. Go to closing and pay for property.

I'm assuming you know the market you want to invest in and would know whether or not you're getting a good deal. If not, forget about REO's or buying anything and learn your market(s).

This isn't a new idea- everyone putting a small amount into BP which would then be used to fund deals is another way of restating the idea of the bank.

Ostensibly, the investment(s) make money and investors would be given a proportional return on their $10.

The superior idea would be for individuals to hang onto that $10 bucks- work, save, and invest as they are able in their OWN property.

The implications of the coming Obama disaster for America reach far beyond economics. The primary issue that worries me is a much more insidious attack on private property rights than taxation. The issue is JUDGES. Little has been said in the media about the Judicial vacancy crisis created by Democrats in Congress who have delayed the appointment of judges-- some for 3 years-- in hopes of doing what they just did: take the White House, and jam the courts with 100's of not just liberal judges-- but complete whack job judges. I don't think Americans realize the seriousness of this defeat-- and the permanent effect it will have. Politics as we know it is over. This is no ordinary election: America lost this election. The Alinski-ites are in control of all the levels of power and they'll use every means at their disposal to ***permanently*** tilt the rules in their favor. It's already started-- we no longer have election day- it's election month now-- it's total chaos. They are stealing the election in Minnesota as the whole country watches and the media is mum. This was the victory of Saul Alinsky radicals-- Bill Ayers & company now run the country. I don't want to be a downer-- but it's over folks. This is the beginning of the end.

I'm no fan of deficits, bailouts, or bloated Federal bureaus-- but...the raw dollar number can be misleading. I'm sure it's also at record levels-- but what's the % of GDP the debt represents? If I have $100 in debt and $0 income-- I'm in trouble. If I have $1,000,000 in debt and $100,000,000 income-- I'm fine.

Complete your college degree. In real estate, as in life- you will have to do things you don't want to do. You will get bored. It's those times when losers quit, and winners push through and sprint to the finish line.

A college degree is practice for life. If you can't get through it, it's unlikely you'll finish well in anything you do.

Put it on your calendar, and create a reminder. At the appointed time- go. Even if you don't do anything once you get there. First and foremost get it into your routine and create the habit of going.

As a lifelong Chicago area resident, I often wonder when Cub fans will abandon them in protest. I think the Cubs deserve a season off from their fans. I'm not a baseball fan, period- but if I was I just don't see how I could put up with these losers.

As a business owner and investor for many years, the cry to "tax the rich" from arguably the most leftist candidate since McGovern is alarming.

$250K is not only the gross (we killed a gross receipts tax attempt here in IL), but even as net it could be equal to zero or less than zero.

After struggling for five, ten, or even fifteen years in business-- perhaps the first several years losing money, and taking on debt and enormous risks, it's not uncommon for a business owner to eek out a $30K, $40K, or $60K a year living for years before one year magically getting a single contract that propels them into Obama's mystical $250K bracket.

The average for a decade or two may still come out to a mere $30K - $40K but all of the sudden after years of sacrifice, delayed gratification, and self-deprivation a person would quite literally be penalized by the Obama class warfare.

The reason is simple- Obama hasn't even held a legitimate job, let alone run a business. He's nearly completely ignorant on every topic-- let alone economics and how economies grow. He's dangerously ignorant, and unpredictable as a result-- take bombing Pakistan for instance, or flip flopping on the status of Jerusalem, or whether or not Iran is a serious threat-- because he flat doesn't know what he's doing.

Add to that his terrorist / marxist / black liberation theology mentors and you've really got a volatile mix that will make Jimmy Carter appear stable, and competent.

McCain isn't my personal choice, and I live in a "blue" State anyway (Obama will run away with the People's Republic of Illinois by 20 points) but if I lived in a "swing" state-- I'd have to vote for McCain against Obama.

As investors here- we'll be fine. We adapt rather well when the chips are down-- but an Obama Presidency will devastate much of America.

To vote for or support Obama is irresponsible.

I'm glad the bailout didn't pass, I hope it NEVER passes, and I hope everyone that voted for it-- Republican OR Democrat is named, shamed, and remembered as soon as they're up for re-election.

Bush should be impeached for even proposing it. Every member of Congress that had ANYTHING to do with this should be done.

And as for Obama- he's virtually at the heart of the whole debacle in the first place. His days as a "community organizer" (glorified street gang member) in Chicago was mostly spent pressuring banks to lend to people that couldn't afford a mortgage (e.g. "subprime") and his buddy Franklin Raines spent his time defrauding taxpayers and the market at Fannie buying up subprime mortgages, packaging them, and selling them as "mortgage backed securities" to companies like AIG-- leading them to believe they were backed by "A" paper.

Obama should be impeached, too-- and Raines should be frog marched out of Obama's headquarters in handcuffs.