Quote:
Originally Posted by spdrun
Fine with me. Fortunately, housing is still cheap and I'm looking at foreclosures. Would love to evict some idiots who haven't made a mortgage payment in years, then rent their house to some sorry asses who got foreclosed on. Every time I read about foreclosures, I laugh because they're the biggest opportunity to consolidate wealth in the last 20 years and I have the ability to buy. As to the idiots who bought during the bubble and are now coming due, screw 'em and kick 'em out into a rental where they belong. Stupid people deserve everything that's coming to them and more.
As far as the Dow, I'm not so sure -- it *was* down at 10,400 not six months ago. I see 11k or even 10k as plausible, 8k as quite unlikely though if would be a joy if it happened.
|
As bad as it sounds, we're doing the same thing...buying foreclosed and short sale homes, then renting to people that were foreclosed on. My goal is to have all of them listed as "sold" within a year of purchase by way of land contract. Land contract allows me to be the lender, giving me the ability to re-take ownership of the property if the buyer falls behind.
It's one of the best ways to make money right now...
__________________
1987 560SL
85,000 miles
Meet on the level, leave on the square. Great words to live by
Were we directed from Washington when to sow and when to reap, we should soon want bread. - Thomas Jefferson: Autobiography, 1821.