The biggest bubble in stock market history

[DriftBusta]

20 minutes ago, Frostynuts said:

In most cases, there are many reasons, why renters, are renters. Most of them cann,t seem to keep a decent job, or manage money, and certainly don,t have the willpower to save enough for a decent down payment. One thing they are great at, is being a pain in the ass and knowing how to keep delaying from getting kicked out of the current place they are in. 

Don't tell Moto, he thinks all land lords are just out there victimizing people.  But you're exactly right.  On the other hand, we have a couple tenants who've been there for more than 20 years.  An example of this weeks drama.....85 year old widow named Dottie, sweet little black lady, has been a tenant for 23 years, and we've only owned the property for 9-10. She's starting to get dementia, and is convinced that arab on the second floor above her, has got secret cameras in her unit and is recording her, along with dripping water on her, in every room of her apt.  She calls up screaming at me earlier in the week, demanding I do something about it.  Yesterday she calls up sobbing, wanting me to find another apartment for her.  Something new every week.  Sect 8 is love/hate.  The inspection process is a complete scam thanks to the inspection companies.  And these tenants play the system like a fiddle.  They won't even change a lightbulb by themselves.  But they're also dumb, a lot of them will have their boyfriend move in with their pit bull.  I just let them know I'll tell the housing dept about it and they'll lose their voucher, which they hold onto to the death.  So getting them to behave is a lot easier compared to the ones who don't have Sect 8.  The good part is the money is direct deposited on the 2nd or 3rd every month.

Edited April 18, 2020 by DriftBusta

[ArcticCrusher]

1 hour ago, Polaris 550 said:

I think a person has to have enough in the market, so when they're losing they don't care. If you have enough, you can ride out the storm.

Guys like Benny probably have like 50Gs in it, so when he loses 25, he goes crazy. 

Everybody cares when things go south no matter what but it's a comfort to know unless you really fuck things up you won't ever run out of money.

Guys like Ben get queezy and are easily triggered.  It's the equivalent of premature ejaculation and very dangerous to ones TNW.

[ArcticCrusher]

28 minutes ago, DriftBusta said:

Don't tell Moto, he thinks all land lords are just out there victimizing people.  But you're exactly right.  On the other hand, we have a couple tenants who've been there for more than 20 years.  An example of this weeks drama.....85 year old widow named Dottie, sweet little black lady, has been a tenant for 23 years, and we've only owned the property for 9-10. She's starting to get dementia, and is convinced that arab on the second floor above her, has got secret cameras in her unit and is recording her, along with dripping water on her, in every room of her apt.  She calls up screaming at me earlier in the week, demanding I do something about it.  Yesterday she calls up sobbing, wanting me to find another apartment for her.  Something new every week.  Sect 8 is love/hate.  The inspection process is a complete scam thanks to the inspection companies.  And these tenants play the system like a fiddle.  They won't even change a lightbulb by themselves.  But they're also dumb, a lot of them will have their boyfriend move in with their pit bull.  I just let them know I'll tell the housing dept about it and they'll lose their voucher, which they hold onto to the death.  So getting them to behave is a lot easier compared to the ones who don't have Sect 8.  The good part is the money is direct deposited on the 2nd or 3rd every month.

One of my relatives bought a place must have been at least 40 units about 35 years ago from the city of Toronto auction for just the property tax owing on it, about 1/10 of what it was actually worth.  Place was rented out all welfare and the checks went straight to him.

Still owns it to this day.

[DriftBusta]

7 minutes ago, ArcticCrusher said:

One of my relatives bought a place must have been at least 40 units about 35 years ago from the city of Toronto auction for just the property tax owing on it, about 1/10 of what it was actually worth.  Place was rented out all welfare and the checks went straight to him.

Still owns it to this day.

As long as you can manage the headaches, the cash flow is probably outstanding if he got it that cheap.  We haven't been looking.  We have a couple landlords in town..... one I know has more than 4000 units, including a bunch 10-20 years old that they build new.  The old man was still working the day he died in his 80s.  That was his golf, building apartments and making money.  Drove a Buick around town and lived a pretty simple life.   I'd probably be living like a Saudi Prince if I had that kind of cash flow, but maybe that's why I don't, because I don't enjoy working or taking on THAT much.   

Edited April 18, 2020 by DriftBusta

[f7ben]

2 hours ago, AKIQPilot said:

Hows your big play with TVIX working for you. 

I’ve made 6 trades since then. All of them in various short positions and all of them losers. I won’t own a single long equity or fund in this fraudulent Ponzi scheme and I’ll continue to leverage every cent I can against this bullshit printing press driven fraud of a market until I don’t have a penny left to my name

[AKIQPilot]

11 minutes ago, f7ben said:

I’ve made 6 trades since then. All of them in various short positions and all of them losers. I won’t own a single long equity or fund in this fraudulent Ponzi scheme and I’ll continue to leverage every cent I can against this bullshit printing press driven fraud of a market until I don’t have a penny left to my name

That is very unfortunate Ben. There are plenty of good opportunities out there. You’re planning to retire in 15 years so it’s almost too late to rely on compounding interest to help reach your goals. 
 

Good luck playing the short market. I don't have the sack for that game. 

[favoritos]

1 hour ago, DriftBusta said:

Don't tell Moto, he thinks all land lords are just out there victimizing people.  But you're exactly right.  On the other hand, we have a couple tenants who've been there for more than 20 years.  An example of this weeks drama.....85 year old widow named Dottie, sweet little black lady, has been a tenant for 23 years, and we've only owned the property for 9-10. She's starting to get dementia, and is convinced that arab on the second floor above her, has got secret cameras in her unit and is recording her, along with dripping water on her, in every room of her apt.  She calls up screaming at me earlier in the week, demanding I do something about it.  Yesterday she calls up sobbing, wanting me to find another apartment for her.  Something new every week.  Sect 8 is love/hate.  The inspection process is a complete scam thanks to the inspection companies.  And these tenants play the system like a fiddle.  They won't even change a lightbulb by themselves.  But they're also dumb, a lot of them will have their boyfriend move in with their pit bull.  I just let them know I'll tell the housing dept about it and they'll lose their voucher, which they hold onto to the death.  So getting them to behave is a lot easier compared to the ones who don't have Sect 8.  The good part is the money is direct deposited on the 2nd or 3rd every month.

We have found the same thing.  They do behave and they pay their share on time.  I'm curious to see how they handle the inspection process going forward.  We had a couple that came up early in the shutdown.  They had no idea how to handle the physical portion.

The light bulb thing seems to be common everywhere.  I don't mind going in to swap them.  It gives me an excuse to see how the place looks. 

We looked at a lot of buildings with chirping detectors. (It became a sorta incredulous joke.)   Have no idea why people would put up with that stuff.  Those buildings probably belonged to cliche victimizing land lords.

Some of our tenants are busting their butts to get ahead.  Single mom with kids, working two jobs, going to school, etc.  They are quite appreciative about having a good clean place with safe neighbors.  We have one building that almost feels like walking into a big family house.  Their kids all hang out together like siblings.

[ArcticCrusher]

1 hour ago, DriftBusta said:

As long as you can manage the headaches, the cash flow is probably outstanding if he got it that cheap.  We haven't been looking.  We have a couple landlords in town..... one I know has more than 4000 units, including a bunch 10-20 years old that they build new.  The old man was still working the day he died in his 80s.  That was his golf, building apartments and making money.  Drove a Buick around town and lived a pretty simple life.   I'd probably be living like a Saudi Prince if I had that kind of cash flow, but maybe that's why I don't, because I don't enjoy working or taking on THAT much.   

I'm done dealing with tenants and most of our priors were actually pretty good.  I want more liquidity but don't need it it to resemble the stock market.  I spend more and more time researching alternatives with monthly liquidity and decent targeted returns (10%).

[teamgreen02]

I'd rather sit in my office watching my Fidelity account go to zero than deal with tenants and rental properties.

My dad owns a few but is getting out of them. Too much work in retirement for what it pays. You guys that know real estate, rentals, repairs, tenants, etc. can make good money. Just not for me.

[Guest]

9 minutes ago, teamgreen02 said:

I'd rather sit in my office watching my Fidelity account go to zero than deal with tenants and rental properties.

My dad owns a few but is getting out of them. Too much work in retirement for what it pays. You guys that know real estate, rentals, repairs, tenants, etc. can make good money. Just not for me.

X 10000!!!!   

[1jkw]

 

We have one rental and have had nothing but good luck, very careful who we rent to.   

 

My friend has a huge number of them. 15 years ago or so he was worth like 68 million, worth probably twice that now, he has a large construction business to remodel them. He owns a race team that did race a truck and a car in the class under bush lite series.

[AKIQPilot]

20 minutes ago, teamgreen02 said:

I'd rather sit in my office watching my Fidelity account go to zero than deal with tenants and rental properties.

My dad owns a few but is getting out of them. Too much work in retirement for what it pays. You guys that know real estate, rentals, repairs, tenants, etc. can make good money. Just not for me.

Bingo. We had one rental for a while. It was a Shop and studio apt. It was kind of a piece of shit so thats what I had for tenants.  Sold the place years ago and never looked back. 

[Guest]

I think ya' have to be equipped both physically and mentally to be a landlord.

Physically...…….you need to have a crew available to re-hab, and or clean the places out.

Mentally...……..you can't take a bad renter personally.

I could never be a landlord. If someone damages my property, and stiffs me for thousands in rent, my rage would be so bad, I would want to do something very bad. That's why I don't deal with that. Some guys are cut out for that stuff, not me.   

[ArcticCrusher]

27 minutes ago, 1jkw said:

 

We have one rental and have had nothing but good luck, very careful who we rent to.   

 

My friend has a huge number of them. 15 years ago or so he was worth like 68 million, worth probably twice that now, he has a large construction business to remodel them. He owns a race team that did race a truck and a car in the class under bush lite series.

That's who you are competing with unfortunately, either you go big or go home.

[DriftBusta]

1 hour ago, ArcticCrusher said:

I'm done dealing with tenants and most of our priors were actually pretty good.  I want more liquidity but don't need it it to resemble the stock market.  I spend more and more time researching alternatives with monthly liquidity and decent targeted returns (10%).

What do you like?  Its tough right now finding dependable yield, with the interest rates so low.  I still like a diversified mix of div stocks for income, maybe an annuity if you're 5-10 yrs out from retirement.  They can build up a good withdrawal base in that time that you will know in advance.  But they've been shaving the withdrawal rates a bit with the low interest rate environment we're in.   

[1jkw]

16 minutes ago, ArcticCrusher said:

That's who you are competing with unfortunately, either you go big or go home.

I have no desire to compete.  Rob is a great guy who does an amazing job and really gives back to the community, he never pushes religion on anybody but truly lives like a Christian by helping his fellow man.

[ArcticCrusher]

17 minutes ago, 1jkw said:

I have no desire to compete.  Rob is a great guy who does an amazing job and really gives back to the community, he never pushes religion on anybody but truly lives like a Christian by helping his fellow man.

What I meant is guys like that who do it will ride out whatever is coming.  The small guys are the ones who might not get through.

[ArcticCrusher]

30 minutes ago, DriftBusta said:

What do you like?  Its tough right now finding dependable yield, with the interest rates so low.  I still like a diversified mix of div stocks for income, maybe an annuity if you're 5-10 yrs out from retirement.  They can build up a good withdrawal base in that time that you will know in advance.  But they've been shaving the withdrawal rates a bit with the low interest rate environment we're in.   

If these REITs hold like its looking so far that is where about 60% of my investments are going.

Annuities are not for me.

[1jkw]

15 minutes ago, ArcticCrusher said:

What I meant is guys like that who do it will ride out whatever is coming.  The small guys are the ones who might not get through.

Yes I get that, I just wouldn't want all that property to deal with, even though he has employees to do much of the work.  I suspect he will buy lots more homes because of this.

[Guest]

10 hours ago, 1jkw said:

He fingers himself since the sex change.

How about I finger your cunt with a 5-D-Cell Maglite????

[The One]

12 hours ago, Polaris 550 said:

How about I finger your cunt with a 5-D-Cell Maglite????

OMFG!!! That spells HOMO !!

[Guest]

31 minutes ago, The One said:

OMFG!!! That spells HOMO !!

No it doesn't . It spells that someone is degrading you and sticking an aluminum tube into you, that will probably kill you. See what I mean, HOMO???

[ArcticCrusher]

20 minutes ago, Polaris 550 said:

No it doesn't . It spells that someone is degrading you and sticking an aluminum tube into you, that will probably kill you. See what I mean, HOMO???

I don't think that's gonna scare an actual homo.

 

[Guest]

1 minute ago, ArcticCrusher said:

I don't think that's gonna scare an actual homo.

 

LMAO!! I swear ta' God AC, I think he REALLY is a homo!!!! 

[The One]

On 4/19/2020 at 12:59 PM, Polaris 550 said:

LMAO!! I swear ta' God AC, I think he REALLY is a homo!!!! 

Ur the HOMO!!