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Jul 22, 2019
12:22
:07
pm
Mathew
All-American
Hi Grandpa. Hope you're doing well. Looking forward in seeing
You soon. About that loan....
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Mathew
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Mathew
Joined
Jul 30, 2009
Last login
Sep 27, 2024
Total posts
32,079 (2,296 FO)
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Messages
Author
Time
I think I was called a liar/ foolish last night in a thread. I'd like to reply.
grandpacoug
7/22/19 11:28am
I wonder how that compares to how Gates, Buffet, Job, et. al. have done.
BYU71
7/22/19 11:31am
I understood your short version, but a few corrections
Acorn
7/22/19 11:33am
You've obviously been successful. While I won't argue with your success, I will
Odysseus
7/22/19 11:51am
I will argue your $10k spare cash point.
Superman21
7/22/19 11:59am
That’s impressive
Odysseus
7/22/19 12:02pm
Great job. I also did extremely well on flips and much higher than 20% return!
grandpacoug
7/22/19 1:11pm
This is a great example of why the two options in the original OP are not
Acorn
7/22/19 1:38pm
We have a 401k and that gives me more stress than investing in real estate.
Superman21
7/23/19 12:10am
I like your diversification but would add one other area.
grandpacoug
7/23/19 4:36am
I agree with many of your points but disagree with many of the others.
grandpacoug
7/22/19 1:09pm
Now kids - that's how you do it.
ClackamasCoug
7/22/19 11:51am
Great timing. Well done.
Alister Mackenzie
7/22/19 11:57am
You specifically stated "over decades."
tarzan15
7/22/19 11:59am
His timing was excellent. Good for him.
Backcountry
7/22/19 12:08pm
I responded to your board mail and am trying to catch up.
grandpacoug
7/22/19 1:18pm
They also need the $1.4 million in a down payment. Yes real estate is
Fatalplacebo
7/22/19 12:10pm
I think the biggest misconception about RE is that it takes tons of money to get into. My first inv. purchase was $45K
mvtoro
7/22/19 12:51pm
No tax on your primary residence sale.
grandpacoug
7/22/19 1:26pm
Exactly. That’s why I wanted to sell now at no tax and move to a house I had bought at 2011 prices
mvtoro
7/22/19 1:28pm
I disagree completely. My first property was a duplex purchased with FHA loan
grandpacoug
7/22/19 1:21pm
I was just talking about your last purchase. You have to start somewhere.
Fatalplacebo
7/22/19 2:00pm
I agree slightly. I was told the same thing in 2007 and accepted a challenge at
grandpacoug
7/22/19 1:17pm
Nice job.
Superman21
7/22/19 12:00pm
To me it's mostly about market movement combined with leverage. The difference for me in getting into RE 7-10 years ago
mvtoro
7/22/19 12:16pm
Hi Grandpa. Hope you're doing well. Looking forward in seeing
Mathew
7/22/19 12:22pm
Sorry. No kids or grandkids named Matt.
grandpacoug
7/22/19 1:22pm
I also think that maybe mormons are more averse to leveraged positions? I remember taking ACC200 from Norm Nemrow
mvtoro
7/22/19 12:23pm
Use some of that profit to upgrade your CB membership.
statguru
7/22/19 12:28pm
I would upgrade if I could but specific reasons prohibit it...
grandpacoug
7/22/19 1:24pm
grandmacoug still won't let you have spending money after all that?
IAmSpartyCoug
7/22/19 8:59pm
GrandmaCoug treats me very well and that is not the problem.
grandpacoug
7/23/19 4:38am
I like real estate as an investment, but most 1st time investors aren't prepared
Sexytaxman
7/22/19 12:35pm
Completely agree.
grandpacoug
7/22/19 1:27pm
I think real estate needs to be apart of an investment portfolio. I am a big proponent for real estate.
specsauce
7/22/19 12:56pm
I also own in Grand Prairie and Mesquite. Those are not for sale.
grandpacoug
7/22/19 1:28pm
My brother is a police detective in Mesquite. I hope he hasn't had to come to any of your
specsauce
7/22/19 1:59pm
without reading all the responses above, 2009 was a good time to buy
Idahofallsblue
7/22/19 1:18pm
Mostly winding down and selling things now. I have never stopped investing
grandpacoug
7/22/19 1:31pm
Props to you. Were those syndicated investments or all on your own?
Ash
7/22/19 1:39pm
I did limited partnerships back in the 70s and early 80s. That was the beginning
grandpacoug
7/22/19 2:11pm
Ash-I was a featured speaker at Bigger Pockets convention in Denver years ago.
grandpacoug
7/22/19 2:13pm
You're a rock star, man.
Ash
7/22/19 3:20pm
Darn, you should have bought AMZN in Aug 2008. You would be $10 million richer..
Hoosier77
7/22/19 1:41pm
I'm the one who indicated that the 20% return (cash on cash) figures as an estimate aren't a good comp
memento
7/22/19 1:50pm
I don't believe I ever said people should expect that return. I stated that it
grandpacoug
7/22/19 2:18pm
One more thing. Remember, I used a simple example with your 6.1% annual ROI.
grandpacoug
7/22/19 2:20pm
The 6.1% return wasn't "my" figure, it was the historical figure. And I'm sorry,
memento
7/22/19 2:35pm
I will stand by my 20% cash on cash return and leave it at that. Done it.
grandpacoug
7/22/19 2:43pm
No one is saying you didn’t do it, but that
memento
7/22/19 2:52pm
This is the Wall Street, financial world mantra
Deeppost
7/22/19 10:19pm
I was stating the same thing 40 years ago. It has not changed. Great points...
grandpacoug
7/23/19 4:41am
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