Nice job.

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Jul 22, 2019
12:00:23pm

Superman21 All-American

Nice job.

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Superman21

Bio page: Superman21
Joined: Jun 16, 2014
Last login: May 23, 2024
Total posts: 5,418 (124 FO)

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Messages

Author

Time

I think I was called a liar/ foolish last night in a thread. I'd like to reply.

grandpacoug

7/22/19 11:28am

I wonder how that compares to how Gates, Buffet, Job, et. al. have done.

BYU71

7/22/19 11:31am

I understood your short version, but a few corrections

Acorn

7/22/19 11:33am

You've obviously been successful. While I won't argue with your success, I will

Odysseus

7/22/19 11:51am

I will argue your $10k spare cash point.

Superman21

7/22/19 11:59am

That’s impressive

Odysseus

7/22/19 12:02pm

Great job. I also did extremely well on flips and much higher than 20% return!

grandpacoug

7/22/19 1:11pm

This is a great example of why the two options in the original OP are not

Acorn

7/22/19 1:38pm

We have a 401k and that gives me more stress than investing in real estate.

Superman21

7/23/19 12:10am

I like your diversification but would add one other area.

grandpacoug

7/23/19 4:36am

I agree with many of your points but disagree with many of the others.

grandpacoug

7/22/19 1:09pm

Now kids - that's how you do it.

ClackamasCoug

7/22/19 11:51am

Great timing. Well done.

Alister Mackenzie

7/22/19 11:57am

You specifically stated "over decades."

tarzan15

7/22/19 11:59am

His timing was excellent. Good for him.

Backcountry

7/22/19 12:08pm

I responded to your board mail and am trying to catch up.

grandpacoug

7/22/19 1:18pm

They also need the $1.4 million in a down payment. Yes real estate is

Fatalplacebo

7/22/19 12:10pm

I think the biggest misconception about RE is that it takes tons of money to get into. My first inv. purchase was $45K

mvtoro

7/22/19 12:51pm

No tax on your primary residence sale.

grandpacoug

7/22/19 1:26pm

Exactly. That’s why I wanted to sell now at no tax and move to a house I had bought at 2011 prices

mvtoro

7/22/19 1:28pm

I disagree completely. My first property was a duplex purchased with FHA loan

grandpacoug

7/22/19 1:21pm

I was just talking about your last purchase. You have to start somewhere.

Fatalplacebo

7/22/19 2:00pm

I agree slightly. I was told the same thing in 2007 and accepted a challenge at

grandpacoug

7/22/19 1:17pm

Nice job.

Superman21

7/22/19 12:00pm

To me it's mostly about market movement combined with leverage. The difference for me in getting into RE 7-10 years ago

mvtoro

7/22/19 12:16pm

Hi Grandpa. Hope you're doing well. Looking forward in seeing

Mathew

7/22/19 12:22pm

Sorry. No kids or grandkids named Matt.

grandpacoug

7/22/19 1:22pm

I also think that maybe mormons are more averse to leveraged positions? I remember taking ACC200 from Norm Nemrow

mvtoro

7/22/19 12:23pm

Use some of that profit to upgrade your CB membership.

statguru

7/22/19 12:28pm

I would upgrade if I could but specific reasons prohibit it...

grandpacoug

7/22/19 1:24pm

grandmacoug still won't let you have spending money after all that?

IAmSpartyCoug

7/22/19 8:59pm

GrandmaCoug treats me very well and that is not the problem.

grandpacoug

7/23/19 4:38am

I like real estate as an investment, but most 1st time investors aren't prepared

Sexytaxman

7/22/19 12:35pm

Completely agree.

grandpacoug

7/22/19 1:27pm

I think real estate needs to be apart of an investment portfolio. I am a big proponent for real estate.

specsauce

7/22/19 12:56pm

I also own in Grand Prairie and Mesquite. Those are not for sale.

grandpacoug

7/22/19 1:28pm

My brother is a police detective in Mesquite. I hope he hasn't had to come to any of your

specsauce

7/22/19 1:59pm

without reading all the responses above, 2009 was a good time to buy

Idahofallsblue

7/22/19 1:18pm

Mostly winding down and selling things now. I have never stopped investing

grandpacoug

7/22/19 1:31pm

Props to you. Were those syndicated investments or all on your own?

Ash

7/22/19 1:39pm

I did limited partnerships back in the 70s and early 80s. That was the beginning

grandpacoug

7/22/19 2:11pm

Ash-I was a featured speaker at Bigger Pockets convention in Denver years ago.

grandpacoug

7/22/19 2:13pm

You're a rock star, man.

Ash

7/22/19 3:20pm

Darn, you should have bought AMZN in Aug 2008. You would be $10 million richer..

Hoosier77

7/22/19 1:41pm

I'm the one who indicated that the 20% return (cash on cash) figures as an estimate aren't a good comp

memento

7/22/19 1:50pm

I don't believe I ever said people should expect that return. I stated that it

grandpacoug

7/22/19 2:18pm

One more thing. Remember, I used a simple example with your 6.1% annual ROI.

grandpacoug

7/22/19 2:20pm

The 6.1% return wasn't "my" figure, it was the historical figure. And I'm sorry,

memento

7/22/19 2:35pm

I will stand by my 20% cash on cash return and leave it at that. Done it.

grandpacoug

7/22/19 2:43pm

No one is saying you didn’t do it, but that

memento

7/22/19 2:52pm

This is the Wall Street, financial world mantra

Deeppost

7/22/19 10:19pm

I was stating the same thing 40 years ago. It has not changed. Great points...

grandpacoug

7/23/19 4:41am

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