That’s why most people are average not rich. I would imagine that you are content with being an average joe. Nothing wrong with that, good luck.
Glad to hear you think you have great potential. Maybe I will see you on TV some day. All the best!
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I would say if that’s where your level of comfort is, then so be it. Nothing beats a pleasant and worry free night of sleep.
America is such a prosperous country that even the average joe can lead a pleasant and happy lifestyle. Just work your 9-5 go home and enjoy some family time. Spend weekends doing what you like and couple vacations in a year. Worry free!
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You won’t… I have no intention of becoming famous.
Thought you’re slowly moving in the direction of more stocks?
Me, 67% stocks is moving towards 50% stocks, 33% RE moves to 50% RE. So far can’t achieve because of fast rising stock market, and despite all the headlines of RE appreciations, estimates of my Fortress’ SFHs by zillow/redfin hardly budge for two years… no rent increases too… wonder why.
Even in stocks it took long time to settle myself not worried about volatility. Nowadays, I do not even relook current holdings, but only to research for future investment angle.
For real estate, right from start comfort was high as volatility is less. Even my purchase in 2008 went down 20%, but never disturbed as I was able to get cash flow !
From then onwards, I changed my ARM into fixed for more stability ! Still I made one mistake by taking ARM which will be set right before 2017 end.
That’s fine, all my mortgages are ARMs. Why pay more interest while you can pay less? That’s just extra money given away to the bank. Bankers are so rich you don’t need to hand them the extra cash! 
And there’s no guarantee that rates are going to keep going up. Especially when you are considering 30 years… that’s almost 1/2 a lifetime! I would take gladly take my ARM today and deal with the uncertainty of the future… thank you!
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I have done more than 30 finances/refinances in my past. Last year two refinances and two HELOCs. Enough troubles are down the road esp for long term holders of bay area real estate assets.
It is only for ARM, I am not comfortable. Otherwise, any Santa Clara property bought between 2008-2012 are not worth selling as they are cash cow now.
The ARM has the risk of higher payment reduces profit of cash flow positive. Banks/Lender may change the rule then and there depending on market condition or economy.
ARM has less risk for lender, but higher risk for the borrower. If it is not properly planned, investor may end up miserable state.
Since you believe in WB, perhaps you may want to heed his words, “sell when you can, not when you have to”.
Yes, I sold LUV, but holding AAPL !
I saw this bay area Cupertino condos were selling around 338k level and Mountain View condos were around the same !
Missed the boat many times !
You will not see the same price whatever we have seen during 2008-2012. You will not see same mortgage whatever we have seen between 3.25% and 3.75%. Short Sales are history…
elt1 showed 950k scaled to 4.2M in 20 years !
Sell when you see no value in it.
Yes, I am selling 3.25% the ARM locked home soon !
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If I had to count how many times I have missed the boat… I would be so depressed as to render myself a complete idiot!
You can’t win it all… we all make mistakes… and these are not even mistakes they are just missed opportunities. Anyhow, all you need to do is to hold on to the few right choices you have made then that should be good enough!
The most horrible thing you can do though is not making any moves at all.
Miss the boat is pure BS. You missed one boat, boarded the other boat. Have you boarded the first boat, you can’t board the second boat. Duh. What did you actually lose?
Printed and put on my wall. You may be surprised. Detroit? Nobody there ever believe that would happen. It did!
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Do you play chess? Sometimes is good to do nothing. So make a “no-action” move.
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What scares me is the bay area is VERY similar politically to how Detroit was in the 50’s. There was a point when Detroit was going to provide healthcare for everyone in Detroit. Public union and pension obligations bury a city FAST if there’s population decline. The city can’t layoff workers fast enough to match the population decline.
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Thank you for the history. I am just a bit wary given that the mentality seems to be “SFBA RE is the best investment ever”, and shockingly so many use ARM!
Yes, many does not see the issues of ARM…Either real estate or stocks, we definitely need a plan or roadmap and align resources towards roadmap.
For example: Flippers going to fixed mortgage is waste while people planning to hold (primary or rental) longer years should not use ARM.
There is a difference. The claim to fame here is the ability to take risk. Ironically, this applies to this thread very well.
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Just think about it… if Columbus didn’t risk his life to sail to America knowing full well that he could have fallen under from the edge of the flat earth, we would not be even talking about BA RE right now!
Life is about risk… high risk, high return, no risk, no return…
BS.
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