RealEstatebull, you may be on to something

Bay Area
61

I am here just watching the gun corral duel. Do you wish a wooden or metal casket? :laughing:

With all the respect, I hope you donā€™t get mad at me.

I donā€™t doubt the credibility or the wealth of anybody. Very simple, I donā€™t know you, I donā€™t know if you are a woman or a man or an alien from Mars. You can tell me all you want, I donā€™t care, you live your life, I live mine. I know quite of few guys here personally and I can vouch for them and what I know of them. Others? Beautiful minds movie come to terms.

So, thereā€™s a difference between a poor worker and a well done investor like you (if you are one, read above). The chances of anybody, in present times, from loving this part of the country or state is based on the salary they earn and their chances to stay here with those wages. I can love SF, San Jose, name the place, but, here goes the but, if I canā€™t survive, if I canā€™t thrive, I need to love some other places where I can live like a decent human being or with the luxuries or the commodities I donā€™t have here.

You guys, talk like if everybody were an investor with tons of money in their pockets. Of course, if you are/were one of them, youā€™d never leave. I would milk the cow all day long! Others may leave because there are more important things than money and slapping others with the wads of cash. People, the other people have lives too and if they choose to leave, so be it. Not everything is about money! Itā€™s about life! Living la vida loca!

Their choice, their inability to prosper, to save for that infamous down payment, you name the cause are not grounds to tell them they are anything but human beings like you and me. Except you are lucky, arenā€™t you?:wink:

Thank you!

Now, you can continue to kill each other. I will pick up the bodies later, just leave your wallets full of $ inside your pockets pleaseā€¦:laughing::innocent:

62

Ah, you are truly the most wise one @Jilā€¦

Since I am the one who started the string and titled it as such, this was obviously a continuing conversation some of us were having about investing anywhere around here really to take advantage of the projected increased demand for local housing when FB expands as announced. Where in the string do we talk about considering other tech centers in the world? No where! What do other tech centers in the world really have to do what we were about, which was specifically in regards to FBā€™s expansion plans HERE? When did advice about essentially buying low and selling high ever was unsound or lacked credibility??? This thread was obviously my response to @RealEstatebull who saw an opportunity in Newark that was perhaps a good play for the future as Newark is a relatively cheaper area. That is fact, not conjecture or hearsay. And for someone to come here and highjack the conversation and be offensive when you donā€™t even know the context of what we were talking about is what was upsetting. The conversation centers around investing in undervalued areas in hopes of making money. Get it, now?

Again, this is the kind of crap that I faced as a young Asian American growing up in an American city and I will not stand for it. I repeat again, everyone has experiences to share and no one has a right to say anyone lacks credibility or has given advice that is unsound. Period.

63

Ha ha ha, Thanks for the complimentsā€¦!.

64

Toucheā€™. If his compliments is sincere, your reply is polite. If his compliments is sarcasm, your reply is sarcasm.

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65

Nope, @Jil, hit it out of the park. It is in my notes for future reference: do NOT mess or question @Jil EVER!!!

66

I really enjoyed the comment, either way. I did not have time to respond, detail response, wanted to reply fast.

Here is the other remark in reddit, Just bought NFLX 75 shares at $84.50

NFLX.jpg1368Ɨ747 147 KB

67

Thanks for the concise summary.

My very first buyer realtor, almost my mentor in real estate, told me ā€œBuy locally wherever you can drive and take control in case of issue, choose the best competitive locationā€.

I can not forget her words, it is the expression of 50 years of her real estate experience.

Many told me look out investment property at midwest, but that is not suitable for me.

Reason: I need to depend on someone, especially property managers.

Here is real example: At one time, year 2009-10, my tenant got divorced after losing job, ran away. They had disputes that spoiled the property, did not pay rent (we came to know after not receiving the rent). Property manager engaged handyman and estimated appx $8000. With deposit $2500, rest I need to go Small Claims Court against the Jobless Divorced Persons.

I took over the recovery control, engaged my handyman, completed everything with $3000, wrote off $500, rented in 7 days.

This is hard with out-of-state investment property in case of fire, water damage or any other damage.

Even though my mentor realtor told me concisely, I realized the benefit when I faced it.

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68

Stay wherever you are comfortable is the best policy. Here is the words from Seth Klarman, my another mentor on value investing.

For that matter, I wonā€™t prefer Newark, New Jersey neither Newark California.

Replace security with real estate as I see real estate in bay area has higher hidden value along with (or like) many tech stocks.

Seth_Value_investing.jpg934Ɨ667 208 KB

69

@Jil,

This is def right up there for me in terms of real estate investing. Quite honestly, even the Fremont place that I bought seemed a tad far for me but it was a good deal so I had to buy it. Yes, I am sure there are other areas out there with great potential but I donā€™t have the time or inclination to go out there. Why, when you can make money right here I say. Any area here that is cheap is not going to be very soon.

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70

Why then you want to invest in Singapore?

71

If you buy out of state you will need a local partner who is compitant and trustworthy. ā€¦I invest in Stockton, but only with someone I have known for 20 yearsā€¦

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72

My very successful, self-employed business maven of an uncle took in trusted three different close friends as partners over three businesses in his lifetime. Everyone of those ā€œpartnersā€ stuck it to my uncle. And, everyone of those businesses ending up failing because of malfeasance by the partners. My uncle declared bankruptcy three times in his life.

Partnerships are worse than marriages. They are a lousy way to do business.

I heard Carlos Santana in an interview one time, telling the interviewer how promoter Bill Graham told him from his first wildly successful exposure at Woodstock to trademark the band name ā€œSantanaā€ as his own and retain his rights over that moniker for any band he might create. It had proved to be great advice. He was ā€œSantanaā€ and retained control and all of the benefits. He didnā€™t have to ā€œshareā€ his success with any partners, no matter how entitled they may have felt. So many bands of the day had fallen to infighting of ā€œthe partnersā€.

73

No doubtā€¦

74

Because my wifeā€™s family is there (Malaysia) and it would be nice to be back there for a few months out of the year when we retire. Again, happy wife happy lifeā€¦

75

Yes but, wonā€™t you then be broke?

Itā€™s a nasty trade off. :confused:

76

@tomhVallejo,

Being broke is not something I am unfamiliar with as I grew up that way. There is some substance to the notion ā€œmo money, mo problems.ā€ Money just provides one with options to do more or less as one pleases. My wife and I live fairly simple lives and while she may cringe every time I come up with another property to buy or business scheme she knows that it has worked for us up to now in speeding up that retirement date.

77

That seems quite plausible to me. I am sure some people think that way and thatā€™s part of the reasons they move elsewhere.

78

There is another downside to relying on property management companies that I didnā€™t know before. And thatā€™s tenant selection. PMā€™s all do the first-come-first-serve crap, and they all want the property rented with minimal efforts from them. No one really cares about whether the tenants are long term or whether they will take care of the property. All they care are the numbers: credit scores, salary, etc.

I just rented out my San Jose house and my selection process is much more throughout and labor intensive than any PMā€™s would ever do. All my properties are within at most 2 hoursā€™ drive away but if I were to do it again I will tighten it a bit more to say within 1 hour. And I will manage them all by myself.

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79

Letā€™s compare who has a poorer childhood. I ate chicken once a year and live in a 500 sqft flat in a family of 7.

80

Ok, you probably got me there @hanera, but not by much. We too were a family of 7 living in a flat with 3 bedrooms. We ate chicken more than once a year. Grandma raised us pretty much while parents labored away in low income jobs. I lost my dad in high school. Do I need to go any further???

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