Investing 102

[LS1-IROC]

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

[Bucketlist2012]

Originally Posted by LS1-IROC

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

Sorry for mentioning the housing thing

I did not want to open old wounds.

Think of it this way , brother..... You are actually one of the lucky one's..

I am in a court with 9 homes.... All of them but one foreclosed... the lady across the street bought new in 2000...Paid for 12 years and it is worth the same as 2000... But she is the survivor... All the others were foreclosed and now resold and the court has all new families and owners, except the sole survivor...Like you...

The rest of us are in various stages of value... I am lucky, plus what was 660,000 at the peak , I got for 267,000 in 2009. In 2000, they sold for 275,000. Actually I could sell it for 330,000 now, so i am Very lucky.

But the point is that you still have your investment at least even..you would have had to live somewhere, and 10 years from now, you will be in even better shape.. No, not as lucky as some, but still a survivor.

I just wanted you to see the other side , and be Happy you are a homeowner, and you are not 100K to 400K underwater..

Mike V.

[Sieg]

Originally Posted by LS1-IROC

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

The good news is you're reading this thread and have the opportunity to capitalize on the insight, advice, and wisdom.

Everyone makes mistakes, how you handle the lesson is the key. Admitting you made one on a public forum is a huge step in my opinion.

Analyze your options and plot a course to prosperity!

Onward and upward!!

[LS1-IROC]

Thanks for the pep talk guys...

I know of a few people who were in the same situation as I am, and they cut bait and walked away from their mortgages. I wasn't about to do that because I view it as a commitment.

[Sieg]

Originally Posted by LS1-IROC

Thanks for the pep talk guys...

I know of a few people who were in the same situation as I am, and they cut bait and walked away from their mortgages. I wasn't about to do that because I view it as a commitment.

Figure out how you can best leverage your current situation. I gave away my first house and more in a divorce and it was a major setback but one you can definitely overcome.

[Bucketlist2012]

Originally Posted by LS1-IROC

Thanks for the pep talk guys...

I know of a few people who were in the same situation as I am, and they cut bait and walked away from their mortgages. I wasn't about to do that because I view it as a commitment.

Pep talks anytime.. Also do what is best for you and your family...

[GregWeld]

Originally Posted by LS1-IROC

Thanks for the pep talk guys...

I know of a few people who were in the same situation as I am, and they cut bait and walked away from their mortgages. I wasn't about to do that because I view it as a commitment.

We bought a 3 bedroom condo in Tempe for our son to live in while at ASU -- figured "why pay rent for 4 years" -- we should be able to get a couple roommates and sell this place for what we paid for it and at least break even...

WRONG -- #1 the girlfriend moved in for the 'summer' between sophomore and junior year - and never left - so NO RENT -- good news is his GPA went up a full point so we figured it was worth it!

He graduates and Adrienne transfers down there to the warmth.... okay now we have another 3 years before we need to sell the dump... WRONG she moves out to a house with AJ (boyfriend).... so I just spent 10 grand on rehab to get it pristine and ready to sell... for ----- Drum roll -----

100K if I'm lucky --- on a 307K purchase price.

We own it outright -- so it's just a loss pure and simple. Oh well.... But even if we had a mortgage -- I'd just be making the payments and sucking up the loss.... because that is the RIGHT THING TO DO. I bought it - I own it - it is what it is.

Anyone need a beautiful 3 bedroom - 2 full garage - condo in Tempe? Just off the 101 on E. Broadway. I'm going to list it with Bob Reams wife Bev who is an agent there. He owns Imagine Injection where I get all my stuff from... a super - better than super - guy.

[Bucketlist2012]

Originally Posted by GregWeld

We bought a 3 bedroom condo in Tempe for our son to live in while at ASU -- figured "why pay rent for 4 years" -- we should be able to get a couple roommates and sell this place for what we paid for it and at least break even...

WRONG -- #1 the girlfriend moved in for the 'summer' between sophomore and junior year - and never left - so NO RENT -- good news is his GPA went up a full point so we figured it was worth it!

He graduates and Adrienne transfers down there to the warmth.... okay now we have another 3 years before we need to sell the dump... WRONG she moves out to a house with AJ (boyfriend).... so I just spent 10 grand on rehab to get it pristine and ready to sell... for ----- Drum roll -----

100K if I'm lucky --- on a 307K purchase price.

We own it outright -- so it's just a loss pure and simple. Oh well.... But even if we had a mortgage -- I'd just be making the payments and sucking up the loss.... because that is the RIGHT THING TO DO. I bought it - I own it - it is what it is.

Anyone need a beautiful 3 bedroom - 2 full garage - condo in Tempe? Just off the 101 on E. Broadway. I'm going to list it with Bob Reams wife Bev who is an agent there. He owns Imagine Injection where I get all my stuff from... a super - better than super - guy.

Ouch.. But thanks for sharing..

I have the Sister in law...I gave a car to...Wasn't good enough...i gave them a subscription to Kiplinger's....Waste of Time...

They trade the car for a car with payments... They go to Europe.....The Son Buys a BMW.....THEY WALK AWAY FROM THEIR HOUSE.....

Then they ask me to co sign on something...LOL... Never, ever...

They are bouncing from rental to rental.....Talking about Europe again...

WTF... I have given up.. No advise, no help. They play the Guilt card..."what do we do, live in the street ?".

Stop buying all the toys,and cras, and private schools for your kids...And maybe some of them should get a Job.

My wife and I over coffee this morning were talking about it, so we can get it out , and move on with our Day. Other family have Investments and wait for it......MAXED out Credit Cards ???

They know not to come to me for money ever again... In fact they are dreaming of Inheritances that they may never get...i know some wish me dead...No lie..Straw that broke this rich camel..

Little do they know , I was at my Trust attorney for a unscheduled meeting yesterday...I have had enough. i am about to cahnge my Trust to give more to the no kill shelters.

Sorry for the Ranting 102 My wife and I have anger issues today.. The entitlement train has come to a Stop... I am conducting this Train, and they really made me mad now..

[GregWeld]

The "market" has me thinking today -- and I thought about this thread vs the market and what people have done since say -- December. I want to reiterate that the way this market is going -- everyone is feeling pretty good... we're doing two steps forward and only one step back -- so the "gains" have been hot to say the least.

What I want people to remember is that this isn't "normal". We have outsized gains since the first of the year... and while I love this type of market -- don't get yourselves into a complacent position like we did our housing market - where it just went up and up and everyone was "loving life" and feeling invincible.

When - not if - the market turns against us for some period of time - those dividends keep on paying out... and it's those dividends that will hold you over until a down market turns up again. I'm not predicting a move - I don't think like that - I don't play the "I better take my gains and run" game... that's a losing game - that's "market timing" and trust me - you'll lose that game. What you want to really do - if possible - is to scale into your positions - build some more powder up (cash) and be on the sidelines ready to pick away at your favorite positions. Also remember that when the share price goes down -- your dividend payment will buy MORE shares... and then when the market comes back -- you have a larger gain % wise.

[Fluid Power]

Originally Posted by GregWeld

We bought a 3 bedroom condo in Tempe for our son to live in while at ASU -- figured "why pay rent for 4 years" -- we should be able to get a couple roommates and sell this place for what we paid for it and at least break even...

WRONG -- #1 the girlfriend moved in for the 'summer' between sophomore and junior year - and never left - so NO RENT -- good news is his GPA went up a full point so we figured it was worth it!

He graduates and Adrienne transfers down there to the warmth.... okay now we have another 3 years before we need to sell the dump... WRONG she moves out to a house with AJ (boyfriend).... so I just spent 10 grand on rehab to get it pristine and ready to sell... for ----- Drum roll -----

100K if I'm lucky --- on a 307K purchase price.

We own it outright -- so it's just a loss pure and simple. Oh well.... But even if we had a mortgage -- I'd just be making the payments and sucking up the loss.... because that is the RIGHT THING TO DO. I bought it - I own it - it is what it is.

Anyone need a beautiful 3 bedroom - 2 full garage - condo in Tempe? Just off the 101 on E. Broadway. I'm going to list it with Bob Reams wife Bev who is an agent there. He owns Imagine Injection where I get all my stuff from... a super - better than super - guy.

Greg,

Why not rent it and play landlord for a while? Just curious...

Darren