Dow down 150
 

NASDAQ off 50 ... ... ... after the Fed rips the QE3 teat out of the mewling brat's mouth. All I can say is: :), about time. Lovely to see a bubble being pricked.

Bubble being pricked? The last prick that broke the bubble was Shrub Bush and the market fell 6k points.

A very tiny prick indeed.

I have to agree, this isn't a big event.

Hoping to see 11k or so by next October. Can't say it will happen, but I'll have a motherf**king orgasm it is did. If it drops to 8k, make that multiple orgasms.

you missed that boat years ago. It will be another 20 years before it drops like that again.

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.

Life is good when one's happiness isn't dependent on the fluctuations of markets.

After I have enough income property to be a full-time landlord parasite and no as much or as little other work as my little heart desires, I'll no doubt be in that position. Till then, I'll hope for a low market when I don't own stocks and a high one when I do.

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...

Ill give you a bit of advice from someone who has a meager 13 tennants; Being a landlord IS a full-time job.


Im going to look at another house this evening. I dont know whats wrong with me.:confused::D:D:D

You're smart and making money off the stupid. Why again is that bad?

Fine with me. It's something that I actually enjoy, and better than working for someone else.

Agreed. If you like fixing stuff, doing minor to major renovation, then its great. You made it sound like when you got enough property you where going to retire or something.

Once I get to 20 tennants, im done.

We picked one up last month for a song and dance...sold in 06 for $63k, and I picked it up shortsale for $22k. I already have a tenant in it. I estimate that I can sell on land contract for $48k by year's end. If all goes well, the buyer will pay it off in the 7 years that I make all land contracts for. If not, I get it back and sell it again.

Why did I say "sadly" in my earlier post? Because i have this thing called a conscience...it gets me into trouble at times. But, I also have a wife that demands this business be run a certain way, and she's been raised in it since childhood...her dad used to do the same in SoCal, and made a handsome amount of wealth in doing so. Since she has more experience at it then me, i follow waht she says on it.