Open Side Menu Go to the Top
Register
Don't Be An Investment Fish Don't Be An Investment Fish

07-01-2009 , 09:59 PM
Quote:
Originally Posted by RikaKazak
OH, and you wanted someone to raise their hand that beats 6%....consider my hand raised. My "re money" destroys 6%...and so does every "real" Re investor.

That'd be like asking poker pros how many can beat NL25...pretty much every pro can/does. (although I admit there are some RE pros that don't, and some poker pros that can't)
There is a large difference between active and passive investing as well. Something that people investing in REI (including many experts) don't understand.
07-01-2009 , 10:36 PM
OP, you are doing it wrong.

Rika, I think you are right about the seminar.

Caveat Emptor
07-01-2009 , 10:53 PM
My delivery was definitely screwed. My 6% ? was more directed at MSNLers that just let their money sit in a bank account or a stock fund. I haven't been to a seminar. I've just talked to a lot of experienced lenders and have done several deals. I don't know exact time frame as I haven't had to foreclose, but that 2-3 months was what I heard from a couple different local attorneys.

I know the BFI crowd is more savvy, but I was trying to appeal to those that don't want to put the effort into anything outside of poker. Yes, you could probably reach gigantic ROIs optioning and renting out properties, but that's more effort than many people want to go through. I was trying to fill a niche.
07-01-2009 , 10:54 PM
Quote:
Originally Posted by cunningham22
This isn't what Dan Harrington was talking about, I surmise.

Adam Smith:

"A dwelling-house, as such, contributes nothing to the revenue of its inhabitant ; and though it is, no doubt, extremely useful to him, it is as his clothes and household furniture are useful to him, which, however, make a part of his expense, and not of his revenue.

"If it is to be let to a tenant for rent, as the house itself can produce nothing, the tenant must always pay the rent out of some other revenue, which he derives, either from labour, or stock, or land. Though a house, therefore, may yield a revenue to its proprietor, and thereby serve in the function of a capital to him, it cannot yield any to the public, nor serve in the function of a capital to it, and the revenue of the whole body of the people can never be in the smallest degree increased by it."

By investing in real estate, you're earning money for yourself that other people would otherwise earn. But you're not creating a product which contributes to the general economy. It's not bad, but don't fool yourself into thinking you're reaching your highest potential.
I think he was actually referring to the personal decision he made to quit focusing on chess/poker and to do EXACTLY what I'm doing. Google Anchor Loans.
07-01-2009 , 10:55 PM
Quote:
Originally Posted by ArturiusX
So, you're a loan shark?
I would just foreclose, I don't break kneecaps.
07-01-2009 , 11:12 PM
Quote:
Originally Posted by foxfox1

I know the BFI crowd is more savvy, but I was trying to appeal to those that don't want to put the effort into anything outside of poker.


I love this quote.

I want to market this to people who do not realize the risks of my sub-prime loans. Those damn BFI people might realize how risky sub-prime loans might be in the largest recession in 30 years.

Oh and if your not a loan shark, then you are a sub-prime lender. Id prolly rather invest in the loan shark in this market.

Last edited by Mandor_TFL; 07-01-2009 at 11:13 PM. Reason: added comment
07-02-2009 , 12:20 AM
Quote:
Originally Posted by foxfox1
WORST CASE SCENARIO:

12% annual return - 25% pool fee would be 9% annual return, but if you look at my examples, it's likely to be higher. I imagine there's at least a handful of you that can't even come close to a 9% return.
Lol. Everyone promising you a guaranteed return of 12% is just BS you. Run, run run.
07-02-2009 , 01:04 AM
Quote:
Originally Posted by foxfox1
I would just foreclose, I don't break kneecaps.
Maybe you should break kneecaps, there's a reason why loan sharks do it.
07-02-2009 , 01:52 AM
pretty surprised this was even allowed to stay open in bfi

i recommend against investing any $ with foxfox1, and also think you are a tool for how you have gone about pitching your crap
07-02-2009 , 02:03 AM
Quote:
Originally Posted by snagglepuss
pretty surprised this was even allowed to stay open in bfi
It generates good discussion.
07-02-2009 , 02:21 AM
agreed but still comes across way too spammy/pitchy to me. 10% guaranteed roi! invest with me! no risk!

pretty ****tay. and there is maybe a reason he is spamming these forums with his sick investment opportunity instead of just doing it himself or getting actual acquaintances in on the whole shebang.

i mean no risk mang, just hit up ur friends!
07-02-2009 , 02:26 AM
thats why we leave it open, so we can mock it and people can learn.

They don't learn when everyone is like "lol scam" and don't explain why, then the thread gets locked.
07-02-2009 , 02:35 AM
true that
07-02-2009 , 03:18 AM
a guarantee is a guarantee, where do i sign?
07-02-2009 , 07:57 AM
As I said in the previous topic there is money to be made from private lending against real estate and it is something I am quite interested in. It is relatively safe in a stable real estate market since private money will never typically get involved in anything with less than 35% equity (some will go to 25% equity). Typically the people borrowing are just using the money as a bridge to better terms with a traditional lender and you make the money in the upfront points as you churn you money.

Standard disclaimer in that I have no idea who OP is so don't read that as an endorsement of his offer. In fact I would be rather cautious and advise anyone to avoid people who solicit for funds on the internet. At minimum I would want independent verification of his previous deals. I also don't see the benefits of getting involved with a someone on the internet when there are trusts offering the same opportunities and they have years of historical returns to support their ability to make double digit returns where OP is relatively new to this.
07-02-2009 , 10:06 AM
Quote:
Originally Posted by Mandor_TFL
I love this quote.

I want to market this to people who do not realize the risks of my sub-prime loans. Those damn BFI people might realize how risky sub-prime loans might be in the largest recession in 30 years.

Oh and if your not a loan shark, then you are a sub-prime lender. Id prolly rather invest in the loan shark in this market.
I've already addressed this. Please give me your worst case scenario for how I can get screwed. Maybe I'm just naive, but all I know is that nobody's missed a payment and on top of that, I'm praying that three of them actually DO default.
07-02-2009 , 11:09 AM
Quote:
Originally Posted by foxfox1
I've already addressed this. Please give me your worst case scenario for how I can get screwed. Maybe I'm just naive, but all I know is that nobody's missed a payment and on top of that, I'm praying that three of them actually DO default.
The home has an unknown massive issue coupled with home price devaluation that leaves your loan underwater and without the advantages that an experienced flipper has your costs are substantially higher resulting in a fairly large outlay to recoup the costs on the home.

Or it could just have a massive issue.
07-02-2009 , 01:20 PM
This has gone on long enough. I locked the thread and banned the OP because this is clearly spam and people might get hurt by listening to OPs garbage
Closed Thread Subscribe
...

      
m