Random Thoughts for the Weekend :
As the new year approaches, I wonder how many of us will insist that their accountant, or their lawyer, also be an active investor in real estate ?
Does it make sense that an economist is in charge of the economy ? Especially one who has never left school since the age of five or six ?
How much confidence can we have in a person who has never run successfully a small business, never had to meet a payroll, but becomes the CEO or a board member of the worldBernd,
As they say, long-run the market makes money…and in the long run we’re all dead. I’m 38, so I believe I need to make plans like this thing will come back in the long-run.
On your thoughts; I think (1) will rarely happen, (2,3,4,&5) what will or can we do about it? I like to think we’re going to have another round of revolution before it’s over. Those that want to work are tired of taking care of those that don’t. I keep asking those that are in favor of what’s happening in Copenhagen 3 questions and I can’t get answers. They are: 1. Why not go nuclear and wean ourselves off oil. Much cheaper than what is being proposed in Copenhagen. 2. What’s our starting temperature? 3. Why weren’t we warming throughout 50’s, 60’s, and 70’s. Of course, we can’t get answers, just more ideas to put obstacles in our way. On your 6) I think 15-20% down is a good target and skin in the game is always good, even thought it’s painful for me at times! On 7) See my age above and know why I am looking to get into this business and out of building and selling houses. Maybe I can’t wait it out and go under, or maybe I do nothing and go under. Either way, I’m not the kind of person who can sit still for very long!
I will say this in closing; it’s nice to get on a forum with like-minded people and by like-minded I mean those who enjoy work and enjoy helping others with their work. It’s been a fresh change from what I’ve been through in the past year.
Cheers to all!
Mike
Mike,
Add another question to your 3: Who was burning all the fossil fuel that melted the ice age?
Bernd,
My accountant is learning first hand what it means to be an investor. He let a RE agent and another talk him into partnering on 4 properties, buying at top dollar. He did not review any data, trusted the guy. The other two walked away. My accountant dumped $75K additional $$ to keep these things afloat. I reviewed his situation in detail with him and couldn’t really help him get out of it. Now he has to bring $60K more to the table to sell them. He has a MUCH better understanding of how not to buy RE.
I agree with Mike on 2,3,4,&5. I vote at the ballot box. If, at some point that doesn’t work well enough, I’m sure there are other countries that will have me.
This is a sensible position but not everyone is sensible (consider recent events).
I agree with you 100%. It is the term AND the terms of the wait that are fluid.
Steve