Selling my last house bought in the crisis - GoFuckYourself.com

slapass · 10-21-2018, 09:38 AM

Bought 15 houses during the crisis in 2008. Flipped about 15 more. Bought some lots and a bed and breakfast. Lost on the BnB only. Yeah stay away from dumb stuff lol. The land doubled and the last house is going for more than triple. Pretty amazing way to get out of adult. The last few houses sold within hours and this one has had one showing in three days. Oops. Let’s hope the last one goes.

Pretty fun ride though. Totally curious if we are topping or I am early or if it just keeps going.

pimpmaster9000 · 10-21-2018, 09:42 AM

taking profits is never a mistake...100$ safe dollars are worth more than 200 unsafe ones

Sly · 10-21-2018, 09:47 AM

Quote:

Originally Posted by crucifissio

taking profits is never a mistake...100$ safe dollars are worth more than 200 unsafe ones

A bird in the hand...

Bladewire · 10-21-2018, 09:53 AM

Quote:

Originally Posted by slapass

Pretty fun ride though. Totally curious if we are topping or I am early or if it just keeps going.

U.S. Recession Chances in Next Two Years Top 60%, JPMorgan Says - Bloomberg

80% chance by 2021 they say

28% chance it will happen in the next year

OneHungLo · 10-21-2018, 10:28 AM

Quote:

Originally Posted by Bladewire

U.S. Recession Chances in Next Two Years Top 60%, JPMorgan Says - Bloomberg

80% chance by 2021 they say

28% chance it will happen in the next year

The article says 14.5 percent chance of a recession a year from now and a 50-50 in 2 years. Do you ever not lie? Look, we know you want the economy to crash because you don't own a damn thing - no house , no stocks, zero investments, but come on dude just stop lying.

Bladewire · 10-21-2018, 10:43 AM

Quote:

Originally Posted by OneHungLo

The article says 14.5 percent chance of a recession a year from now and a 50-50 in 2 years. Do you ever not lie? Look, we know you want the economy to crash because you don't own a damn thing - no house , no stocks, zero investments, but come on dude just stop lying.

From the second paragraph in the article

"The probability of a U.S. recession within one year is almost 28 percent, and rises to more than 60 percent over the next two years"

"Over the next three years, the odds are higher than 80 percent, according to the note."

dyna mo · 10-21-2018, 10:48 AM

home prices have grown, what, ~3.5% per year since 2008.......

Rochard · 10-21-2018, 10:54 AM

We spent $600k on a model home just before everything crashed. We still owe more on our house than it's worth.

Luckily we love our house - this is our "forever" house. It was much more than we needed for the three of us, and now it's just the two of us. We will hold onto this house until we are unable to climb the stairs.

slapass · 10-21-2018, 11:41 AM

Quote:

Originally Posted by dyna mo

home prices have grown, what, ~3.5% per year since 2008.......

51k to 165k 12/2007 to let’s say 12/2018. Rented for $1200/ month which I took home about $600/month after expenses.

300% increase in value. With 14% annual cash return waiting to get there. Being the last one, this has the largest gain. I started selling when prices doubled. Stock market probably did close to this. Not saying I picked the absolute best vehicle but I did take adsvsntsge of the downturn.

RedFred · 10-21-2018, 11:55 AM

Good timing. The market is already starting to decline nationwide.

#ThanksTrump!

dyna mo · 10-21-2018, 12:16 PM

Quote:

Originally Posted by slapass

51k to 165k 12/2007 to let’s say 12/2018. Rented for $1200/ month which I took home about $600/month after expenses.

300% increase in value. With 14% annual cash return waiting to get there. Being the last one, this has the largest gain. I started selling when prices doubled. Stock market probably did close to this. Not saying I picked the absolute best vehicle but I did take adsvsntsge of the downturn.

right on, not criticizing at all, I couldn't do what you did, manage all those properties. As I understand it, housing gains over the last ~10 years have been 30%, with the average holding period being ~ 8 years thus the ~3.5% annual growth. I know here in Los Angeles we've only had ~ 50% gain. except in luxury homes, which never really went down in price here anyway.

but certainly, congrats. I don't have experience flipping homes so I can't really say when's the right time to get out, other than before the crash.

slapass · 10-21-2018, 01:36 PM

Quote:

Originally Posted by dyna mo

right on, not criticizing at all, I couldn't do what you did, manage all those properties. As I understand it, housing gains over the last ~10 years have been 30%, with the average holding period being ~ 8 years thus the ~3.5% annual growth. I know here in Los Angeles we've only had ~ 50% gain. except in luxury homes, which never really went down in price here anyway.

but certainly, congrats. I don't have experience flipping homes so I can't really say when's the right time to get out, other than before the crash.

Minneapolis has gone 160k to 260k on average from 2009 to now. I am old enough to remember the crash in the 80’s so I knew low price houses have bigger swings.

I am not sure we are going to see big appreciation going forward in that are population has topped out here.

crockett · 10-21-2018, 02:40 PM

Get ready to buy again..

7k USD · 10-21-2018, 02:49 PM

Quote:

Originally Posted by slapass

51k to 165k 12/2007 to let’s say 12/2018. Rented for $1200/ month which I took home about $600/month after expenses.

300% increase in value. With 14% annual cash return waiting to get there. Being the last one, this has the largest gain. I started selling when prices doubled. Stock market probably did close to this. Not saying I picked the absolute best vehicle but I did take adsvsntsge of the downturn.

so what's next for you, what are you going to invest in?

slapass · 10-21-2018, 04:32 PM

Quote:

Originally Posted by 7k USD

so what's next for you, what are you going to invest in?

I bought a bunch of apartments 3 years ago. I have been deleveraging them as we moved money around here. Trying to sell some of those too.

Cash is the answer. I think we see a pull back and being in a tougher part of town, we tend to get killed when everyone just pulls back or stalls.

Second plan is Brazil. Their crisis has shaved 40% off their prices. Then add in our strong dollar. So looking into some apartments in nice areas.

directfiesta · 10-21-2018, 04:44 PM

Quote:

Originally Posted by dyna mo

home prices have grown, what, ~3.5% per year since 2008.......

2011:paid 170k ( 166k canadian)
2018 :325k (475k canadien) similar unit sale in building

Yep. 3.5%

dyna mo · 10-21-2018, 05:14 PM

Quote:

Originally Posted by directfiesta

2011:paid 170k ( 166k canadian)
2018 :325k (475k canadien) similar unit sale in building

Yep. 3.5%

prove it.

My numbers come straight from realtytrac

https://www.realtytrac.com/statsandt...closuretrends/

directfiesta · 10-21-2018, 05:17 PM

Quote:

Originally Posted by dyna mo

prove it.

My numbers come straight from realtytrac

https://www.realtytrac.com/statsandt...closuretrends/

prove what .,.. That I own a 1200 sq 2bd/2bt condo in Pompano beach on the intracostal , 1000 feet from the beach ...

As Stickyfingerz to post his sale act ....

dyna mo · 10-21-2018, 05:21 PM

Quote:

Originally Posted by directfiesta

2011:paid 170k ( 166k canadian)
2018 :325k (475k canadien) similar unit sale in building

Yep. 3.5%

here's a graphic to help you. the average across these markets is 30%

the average hold period for these markets is 8 years

= 3.75% YoY

Any questions?

dyna mo · 10-21-2018, 05:23 PM

Quote:

Originally Posted by directfiesta

prove what .,.. That I own a 1200 sq 2bd/2bt condo in Pompano beach on the intracostal , 1000 feet from the beach ...

As Stickyfingerz to post his sale act ....

am I supposed to be impressed?

directfiesta · 10-21-2018, 05:29 PM

Quote:

Originally Posted by dyna mo

here's a graphic to help you. the average across these markets is 30%

the average hold period for these markets is 8 years

= 3.75% YoY

Any questions?

Difference is I own a property, you don"t ....

Here , same unit ....

https://www.redfin.com/FL/Pompano-Be.../home/41527257

Nov 2013 : 296K
Oct 2018 : 380K ( seems I am too low ... )

Now from recession/crash :
April 2011 till Nov 2013 : easy 70 K

And I paid cheaper as the owner was going back north for ever ( Husband died ) and I paid CASH !!!!

I have other properties in Montreal as well, not as many as the housing mogul onehanglow .... and as you ....

Your country was bankrupted, pages and pages of bank owned properties, americans with no money and no mortgages ... why do you think it wazs CASH ...

dyna mo · 10-21-2018, 05:34 PM

Quote:

Originally Posted by directfiesta

Difference is I own a property, you don"t ....

..

dafuq you talking about? you think I don't own my homes?

jtfc this fucking place.

directfiesta · 10-21-2018, 05:44 PM

perfect example: Marty Kiar - Broward County Property Appraiser

smaller unit ( 1000 sf ) :

Date Type Price Book/Page or CIN
9/26/2018 WD-Q $315,000 115378014
10/26/2011 SWD-Q-DS $197,000 48276 / 706
8/30/2011 QCD-T $100 48276 / 705
7/20/2011 CET-D $124,400 48115 / 1086
9/23/2004 WD $298,000 38283 / 698

BTW, basements in mom's house don't count as " homes "

directfiesta · 10-21-2018, 05:47 PM

BTW, I am selling it in april , as I don't feel at home anymore in Florida.

Looking at Guatemala ( lol ) : Apartamentos El Muelle - Monterrico Guatemala

already stated that before this thread :

https://gfy.com/22353159-post9.html

dyna mo · 10-21-2018, 05:49 PM

Quote:

Originally Posted by directfiesta

BTW, basements in mom's house don't count as " homes "

what the fuck did i do to you? I'm in here casually talking about real estate, backed up with facts and you're attacking me.

what the fuck for? seriously what the fuck are you attacking me in here for?

dyna mo · 10-21-2018, 05:57 PM

so no reason why you're attacking me in this real estate thread.

got it.

this fucking shithole.

King Mark · 10-21-2018, 06:06 PM

Dyna... Stop being so sensitive.

OneHungLo · 10-21-2018, 06:07 PM

Quote:

Originally Posted by dyna mo

what the fuck did i do to you? I'm in here casually talking about real estate, backed up with facts and you're attacking me.

what the fuck for? seriously what the fuck are you attacking me in here for?

Another gfy muslim. He's selling his property because some white guy pulled a gun on him.

slapass · 10-21-2018, 06:34 PM

The key to doing better would have been leverage. Say buy a house for 500k with 50k down. I could have done that 15 times and netted out way more in the long run. It was hard enough pulling the trigger for all cash. The rents were so high it seemed dumb not to. But if you guys remember, the market was not looking good.

slapass · 10-21-2018, 06:35 PM

And I lowered the sale price to reflect the more normal 3.5% or about 50% up compounded.

https://www.spice-indices.com/idpfil..._download=true

slapass · 10-21-2018, 06:41 PM

Case Shiller index says we are abóut 50% up from the lows. So a 3.5% seems about right. Weird how somes area don’t move. My downtown condo is up about 25% if that.

Forest · 10-21-2018, 07:11 PM

I just sold 3 houses I bought during the down turn. I have kept a few as they are good rental income. I think this is the peak and we will see a significant pull back in the market in the next 12-18 months.

slapass · 10-21-2018, 07:15 PM

They are building apartments here like crazy. It is a mini boom.

10-21-2018, 09:38 AM	#1
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,626	Selling my last house bought in the crisis Bought 15 houses during the crisis in 2008. Flipped about 15 more. Bought some lots and a bed and breakfast. Lost on the BnB only. Yeah stay away from dumb stuff lol. The land doubled and the last house is going for more than triple. Pretty amazing way to get out of adult. The last few houses sold within hours and this one has had one showing in three days. Oops. Let’s hope the last one goes. Pretty fun ride though. Totally curious if we are topping or I am early or if it just keeps going.

10-21-2018, 09:42 AM	#2
pimpmaster9000 Too lazy to set a custom title Industry Role: Join Date: Dec 2011 Posts: 26,732	taking profits is never a mistake...100$ safe dollars are worth more than 200 unsafe ones __________________ Report a suspicious cracker: Click Here

10-21-2018, 10:54 AM	#8
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 70,177	We spent $600k on a model home just before everything crashed. We still owe more on our house than it's worth. Luckily we love our house - this is our "forever" house. It was much more than we needed for the three of us, and now it's just the two of us. We will hold onto this house until we are unable to climb the stairs. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

10-21-2018, 02:40 PM	#13
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 74,350	Get ready to buy again.. __________________ "If Israelis don't want to be accused of being like the Nazis, they simply need to stop behaving like Nazis." - Norman Finkelstein

10-21-2018, 06:06 PM	#27
King Mark Masterbaiter Industry Role: Join Date: Aug 2016 Posts: 24,267	Dyna... Stop being so sensitive. __________________

10-21-2018, 10:48 AM	#7
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 60,350	home prices have grown, what, ~3.5% per year since 2008.......

10-21-2018, 11:55 AM	#10
RedFred Confirmed User Industry Role: Join Date: Feb 2016 Posts: 9,782	Good timing. The market is already starting to decline nationwide. #ThanksTrump!

10-21-2018, 05:44 PM	#23
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Back to Montréal, ALIVE ! Posts: 29,009	perfect example: Marty Kiar - Broward County Property Appraiser smaller unit ( 1000 sf ) : Date Type Price Book/Page or CIN 9/26/2018 WD-Q $315,000 115378014 10/26/2011 SWD-Q-DS $197,000 48276 / 706 8/30/2011 QCD-T $100 48276 / 705 7/20/2011 CET-D $124,400 48115 / 1086 9/23/2004 WD $298,000 38283 / 698 BTW, basements in mom's house don't count as " homes "

10-21-2018, 05:47 PM	#24
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Back to Montréal, ALIVE ! Posts: 29,009	BTW, I am selling it in april , as I don't feel at home anymore in Florida. Looking at Guatemala ( lol ) : Apartamentos El Muelle - Monterrico Guatemala already stated that before this thread : https://gfy.com/22353159-post9.html

10-21-2018, 05:57 PM	#26
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 60,350	so no reason why you're attacking me in this real estate thread. got it. this fucking shithole.

10-21-2018, 06:34 PM	#29
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,626	The key to doing better would have been leverage. Say buy a house for 500k with 50k down. I could have done that 15 times and netted out way more in the long run. It was hard enough pulling the trigger for all cash. The rents were so high it seemed dumb not to. But if you guys remember, the market was not looking good.

10-21-2018, 06:35 PM	#30
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,626	And I lowered the sale price to reflect the more normal 3.5% or about 50% up compounded. https://www.spice-indices.com/idpfil..._download=true

10-21-2018, 06:41 PM	#31
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,626	Case Shiller index says we are abóut 50% up from the lows. So a 3.5% seems about right. Weird how somes area don’t move. My downtown condo is up about 25% if that.

10-21-2018, 07:11 PM	#32
Forest Confirmed User Industry Role: Join Date: Aug 2001 Location: Hollywood Fl. Posts: 8,898	I just sold 3 houses I bought during the down turn. I have kept a few as they are good rental income. I think this is the peak and we will see a significant pull back in the market in the next 12-18 months.

10-21-2018, 07:15 PM	#33
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,626	They are building apartments here like crazy. It is a mini boom.