FJ43 said:I'll never forget one of the statements my mentor made to me regarding real estate wealth.irish pete ag06 said:
Wish I had more powder available for real estate in the next few years. New job may help with that.
"Son…you dont make money the day you sell it, you make it the day you buy it."
what say you said:FJ43 said:I'll never forget one of the statements my mentor made to me regarding real estate wealth.irish pete ag06 said:
Wish I had more powder available for real estate in the next few years. New job may help with that.
"Son…you dont make money the day you sell it, you make it the day you buy it."
What does this actually mean? What if the deal goes horribly bad and you lose your a**?
It means a keen eye for a good deal when you purchase it leads to large gains.what say you said:FJ43 said:I'll never forget one of the statements my mentor made to me regarding real estate wealth.irish pete ag06 said:
Wish I had more powder available for real estate in the next few years. New job may help with that.
"Son…you dont make money the day you sell it, you make it the day you buy it."
What does this actually mean? What if the deal goes horribly bad and you lose your a**?
Yes, but not yet. These rates are in the process of crushing values on income producing properties. Can't make much return when the banks start making 8-9%. Those values WILL come down, big time.BREwmaster said:still bullish on real estate for 2022/23? the talk above this post had me thinking about it. but it only makes sense that they can't keep rates high for long.Bonfire1996 said:
VIX isn't going to hit the high point till the SPR drain is stopped. Then heads up
This is why as an investor - I recommend you always underwrite to at least a 1.35 - 1.40x DSCR on your deals, even if your required debt coverage is lower at 1.25x, throw the extra funds into an account and let it sit there until it builds up a solid reserve.Bonfire1996 said:Yes, but not yet. These rates are in the process of crushing values on income producing properties. Can't make much return when the banks start making 8-9%. Those values WILL come down, big time.BREwmaster said:still bullish on real estate for 2022/23? the talk above this post had me thinking about it. but it only makes sense that they can't keep rates high for long.Bonfire1996 said:
VIX isn't going to hit the high point till the SPR drain is stopped. Then heads up
Remember, MOST (like 75% or more) investment properties are bought with short term ARM financing. 3-5 year fixed rates, only, then floating at a rate over Prime or Treasuries. These people bought these properties and paid 4-5% on initial rates and their adjustments will be between 8%-10%!!!! That kills Net Operating Income and makes deals unprofitable.
Sell it quick to get your negative returning equity back. More sellers than buyers (with rates high less buyers) leads to downward pressure on price.
Tourist areas by you are in for trouble.
BaylorSpineGuy said:
My friend's script is holding perfectly. He's calling for the several day red waterfall like we saw June 9-13. Thinks 3400 from here. I'm gonna load up more OTM puts at the open.
Let's get it.
BlueTaze said:BaylorSpineGuy said:
My friend's script is holding perfectly. He's calling for the several day red waterfall like we saw June 9-13. Thinks 3400 from here. I'm gonna load up more OTM puts at the open.
Let's get it.
How "deep" were his OTM puts expiring tmrw?
If a 12% down move was needed for profit, we need an absolute bloodbath today and tmrw.....but who knows, if they weren't too far OTM he could already be sitting good after yesterday.
BPCAg05 said:
https://www.cassavasciences.com/news-releases/news-release-details/cassava-sciences-files-lawsuit-against-perpetrators-short-and
es: I like this. ~3500 was October low and that needs to be tested and I am holding spxu (short spy) hoping for that. I started buying last Friday. I had also bought started buying spy 1104P275. I sold those those at the close Wed for a good trade. Not a great trade because I bought too early and did not like my execution, which is why I sold all my puts and didn't hold overnight. Those puts really would have looked good at todays open. Monthly and Weekly chart still has the 5ema below the 10. Today the daily might flip to the 5ema below the 10 and then I add more spxu.BaylorSpineGuy said:
My friend's script is holding perfectly. He's calling for the several day red waterfall like we saw June 9-13. Thinks 3400 from here. I'm gonna load up more OTM puts at the open.
Let's get it.
where are you getting this info? that seems very high.Bonfire1996 said:Yes, but not yet. These rates are in the process of crushing values on income producing properties. Can't make much return when the banks start making 8-9%. Those values WILL come down, big time.BREwmaster said:still bullish on real estate for 2022/23? the talk above this post had me thinking about it. but it only makes sense that they can't keep rates high for long.Bonfire1996 said:
VIX isn't going to hit the high point till the SPR drain is stopped. Then heads up
Remember, MOST (like 75% or more) investment properties are bought with short term ARM financing. 3-5 year fixed rates, only, then floating at a rate over Prime or Treasuries. These people bought these properties and paid 4-5% on initial rates and their adjustments will be between 8%-10%!!!! That kills Net Operating Income and makes deals unprofitable.
Sell it quick to get your negative returning equity back. More sellers than buyers (with rates high less buyers) leads to downward pressure on price.
Tourist areas by you are in for trouble.
Im a banker. The investment property loan programs for long term fixed rates aren't plentiful. It isn't like a Fannie Mae mortgage for a primary residence with super easy qualifications.Diggity said:where are you getting this info? that seems very high.Bonfire1996 said:Yes, but not yet. These rates are in the process of crushing values on income producing properties. Can't make much return when the banks start making 8-9%. Those values WILL come down, big time.BREwmaster said:still bullish on real estate for 2022/23? the talk above this post had me thinking about it. but it only makes sense that they can't keep rates high for long.Bonfire1996 said:
VIX isn't going to hit the high point till the SPR drain is stopped. Then heads up
Remember, MOST (like 75% or more) investment properties are bought with short term ARM financing. 3-5 year fixed rates, only, then floating at a rate over Prime or Treasuries. These people bought these properties and paid 4-5% on initial rates and their adjustments will be between 8%-10%!!!! That kills Net Operating Income and makes deals unprofitable.
Sell it quick to get your negative returning equity back. More sellers than buyers (with rates high less buyers) leads to downward pressure on price.
Tourist areas by you are in for trouble.
Quote:
Online payments giant Stripe plans to lay off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday.
Cassava Sciences, Inc. (NASDAQ:SAVA), a clinical-stage biotechnology company, today announced that it has filed a lawsuit in federal court against certain individuals who executed a "short and distort" campaign against the Company. The 150+ page complaint alleges that the Defendants' disinformation campaign caused a precipitous decline in Cassava Sciences' stock price, a multi-billion dollar decline in its market capitalization, and delayed the Company's work in developing a treatment for Alzheimer's disease.FTAG 2000 said:BPCAg05 said:
https://www.cassavasciences.com/news-releases/news-release-details/cassava-sciences-files-lawsuit-against-perpetrators-short-and
This means they have the goods on their data / trials, right?
What are those 10 million jobs though? I don't think the people getting laid off at Google can drive a forklift.Bonfire1996 said:
Exactly my point Prog. Normies and press will say these layoffs need to happen so the fed takes their foot off the brakes. But doesn't that 10 million job opening number have to disappear before unemployment can rise?
Seems like we're still getting around 1 big trend day per week. Identifying stops is really tough. And holding overnights is definitely a no-no, except with the tiniest of runners. The big trend day seems to often be followed by a gap in the other direction.Bob Knights Paper Hands said:
My goodness this market is tough to trade. Gone are the days we could identify a trend, set stops, and just let it ride all day or for multiple days.
got it. my understanding was that ARM's were less than 5% of the total market until the recent runup. Just figured investment properties would make up a larger chunk of the total pie.Bonfire1996 said:Im a banker. The investment property loan programs for long term fixed rates aren't plentiful. It isn't like a Fannie Mae mortgage for a primary residence with super easy qualifications.Diggity said:where are you getting this info? that seems very high.Bonfire1996 said:Yes, but not yet. These rates are in the process of crushing values on income producing properties. Can't make much return when the banks start making 8-9%. Those values WILL come down, big time.BREwmaster said:still bullish on real estate for 2022/23? the talk above this post had me thinking about it. but it only makes sense that they can't keep rates high for long.Bonfire1996 said:
VIX isn't going to hit the high point till the SPR drain is stopped. Then heads up
Remember, MOST (like 75% or more) investment properties are bought with short term ARM financing. 3-5 year fixed rates, only, then floating at a rate over Prime or Treasuries. These people bought these properties and paid 4-5% on initial rates and their adjustments will be between 8%-10%!!!! That kills Net Operating Income and makes deals unprofitable.
Sell it quick to get your negative returning equity back. More sellers than buyers (with rates high less buyers) leads to downward pressure on price.
Tourist areas by you are in for trouble.
They are gonna have to adapt if they want to eat.bigtoneag said:What are those 10 million jobs though? I don't think the people getting laid off at Google can drive a forklift.Bonfire1996 said:
Exactly my point Prog. Normies and press will say these layoffs need to happen so the fed takes their foot off the brakes. But doesn't that 10 million job opening number have to disappear before unemployment can rise?
