How did you come to afford your raptor?

[stolleee]

selling body fluid... no... working for the same company for over 32 years from $4 per hour to present time where we really are blessed. pay more in taxes and dont get stimulus and that is OK.

 

[shooters1380]

Well you know what they say. “It’s just as easy to love a rich woman as it is a poor one.” Naw not really, they mostly ugly or too ****** to deal with.

31 years in law enforcement with a decent retirement. Don’t have a 600k custom home and wife still works. It’s tight but doable.


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[emanon_RR]

I served 8 years in the Army and when you’re sent to war zones, then you start to question your life decisions. I read up on successful people (Kiyosaki, Trump, etc.) and found a common connection was they built their wealth through real estate. I bought a rental property after getting out in SoCal when the market tanked. I then started working for the government and bought another rental and it just kept growing. You have to be comfortable in being uncomfortable.

I flipped some houses and it was the most scared and exciting times I’ve had since you’ve got your life savings on the line taking calculated risks. I financed the toys and let my passive income pay for all my expenses. I could retire from my investments, but I work since I’m almost 40 and target new investment options. The markets at the moment are on fire and scary times with the fed printing money like no tomorrow. The real estate market in SoCal is either going to stay high due to shortage of inventory or crash in a huge way with unemployment and interest rates rising.

Real estate investing is a tax favored asset where you get depreciation, appreciation, and principal pay down from your tenants. It does take work and headaches dealing with people, but what business doesn’t require work and dealing with people? Just think like Les Brown said, “The graveyard is the richest place on earth, because it is here that you will find all the hopes and dreams that were never fulfilled, the books that were never written, the songs that were never sung, the inventions that were never shared, the cures that were never discovered, all because someone was too afraid to take that first step, keep with the problem, or determined to carry out their dream.”


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IMO RE in SoCal right now is gambling on capital appreciation. The cost vs rent delta is way outside what I consider making sense. Someone is going to get caught holding a nasty hot potato. I’ve gotten out of everything I bought post 2013. All the 2009-2013 stuff is fat and happy on the cashflow side and some nearing 4x the purchase price while almost being paid off. In hindsight I should have sold everything to buy more back then.

With interest rates jumping over 1% in the last month I’m watching for a pullback. Once it starts I feel like the slide will be quick and fierce. Federal money machine will slow way down, Unemployment, a round of nasty federal tax hikes, rising interest to curb inflation, and a dismal consumer outlook will come to roost like a giant economic ****.

For the last couple years I’ve been hoarding cash like a squirrel preparing for winter. I feel there will be opportunities that are decade makers.

 

[dirtgod]

^^^ totally agree. Hoarding cash here as well waiting on the shoe to drop and the resulting legendary opportunities

 

[ademarco]

IMO RE in SoCal right now is gambling on capital appreciation. The cost vs rent delta is way outside what I consider making sense. Someone is going to get caught holding a nasty hot potato. I’ve gotten out of everything I bought post 2013. All the 2009-2013 stuff is fat and happy on the cashflow side and some nearing 4x the purchase price while almost being paid off. In hindsight I should have sold everything to buy more back then.

With interest rates jumping over 1% in the last month I’m watching for a pullback. Once it starts I feel like the slide will be quick and fierce. Federal money machine will slow way down, Unemployment, a round of nasty federal tax hikes, rising interest to curb inflation, and a dismal consumer outlook will come to roost like a giant economic ****.

For the last couple years I’ve been hoarding cash like a squirrel preparing for winter. I feel there will be opportunities that are decade makers.

I purchased from 2008-2014 and just cash flowing. I prefer not to sit on cash as it needs to work. I’m buying silver, gold, and cryptocurrency. Like Ray Dalio says, “Cash is trash.” Buffet’s Berkshire is sitting on $150 B in cash and many institutional investors as well. The talk in the streets is the cash on sideline is waiting for rent and mortgage moratoriums to be lifted and buy up the defaulted bank notes. They will in turn make the nonperforming notes/housing into rentals. Most people don’t realize the largest transfer of wealth is happening at this moment while they are worried about bad [emoji521] man or other [emoji1782] acts going on at the moment. Like the Romans did, entertain the masses so they prevent any uprising. You have to question how all of this “free money” is going to affect the market, Weimar anyone?


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[tical]

I'm a financial advisor...bought 2020 802A SCREW in Sept of 2020. Bought marijuana stock CRON few years back for $2 a share sold it @24 couple years back. Sitting on cash decided to splurge.

 

[Badgertits]

Well you know what they say. “It’s just as easy to love a rich woman as it is a poor one.” Naw not really, they mostly ugly or too ****** to deal with.

31 years in law enforcement with a decent retirement. Don’t have a 600k custom home and wife still works. It’s tight but doable.


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where the hell ya live where $600k gets a custom home!?!? Gets you a POS fixer-upper in MA suburbs lol!!

 

[shooters1380]

where the hell ya live where $600k gets a custom home!?!? Gets you a POS fixer-upper in MA suburbs lol!!

There’s plenty of em here in Southern Calif but the closer to LA you get the more expensive it is. 600k in LA won’t get you a studio apartment


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[Badgertits]

So not bragging but I make into the 6 figure range and my wife makes over $50k but I still can’t figure out/justify getting into a Raptor. Anyone else felt this way before they took the plunge?

I suppose the $500 in student loan payments we have and $300 529 account contributions are the reason for not pulling the trigger. But hey, we’ll have all of those student loans paid off in 2039...

Ummmm.....you don’t have to pay your student loans

I’m not a deadbeat so we’re paying my wife’s grad loans off (down to like $15k & the 2nd biggest nut we got to crack after our mortgage so no biggie) - but yeah....you don’t have to pay em right now, and if ya do it’s @ 0% rate, & while I emphatically wholeheartedly disagree w/ it, seems like they’re gonna get wiped clean anyhow, put your $$$ into something else that’ll give you ROI

 

[GCATX]

IMO RE in SoCal right now is gambling on capital appreciation. The cost vs rent delta is way outside what I consider making sense. Someone is going to get caught holding a nasty hot potato. I’ve gotten out of everything I bought post 2013. All the 2009-2013 stuff is fat and happy on the cashflow side and some nearing 4x the purchase price while almost being paid off. In hindsight I should have sold everything to buy more back then.

With interest rates jumping over 1% in the last month I’m watching for a pullback. Once it starts I feel like the slide will be quick and fierce. Federal money machine will slow way down, Unemployment, a round of nasty federal tax hikes, rising interest to curb inflation, and a dismal consumer outlook will come to roost like a giant economic ****.

For the last couple years I’ve been hoarding cash like a squirrel preparing for winter. I feel there will be opportunities that are decade makers.

Similar market here, though I don't think the housing market will take a hit around Central Tx. In 2008, things went flat for about a year, but prices dropped little if any. Currently trying to buy another rental before I get priced out. Plus don't want money sitting in the bank when the hyper hits, rather have it in rents that can be tweaked.

It seems much of California and New York are coming this way, or just investing down here. I'm a home inspector and at least half my customers are from out of state, not joe blow looking to move across town. There has been a hard shift since the election and covid. Investors are coming hard, I am taking notes.