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Old 06-27-2016, 11:23 AM  
DaFace DaFace is offline
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Last edited by DaFace; 02-19-2021 at 06:35 PM..
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Old 05-28-2020, 05:47 PM   #5026
lewdog lewdog is offline
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Originally Posted by petegz28 View Post
I cropped it bit I believe it was a daily year chart. Are they getting killed that bad in the after market? Yeah they are down almost $6. Still good and probably good buying opportunity. I admit I am not up on what their news cycle is but it looks like they released earnings today so you did good selling or buying puts.

I hate earnings announcements especially before or after the close. It's rigged bullshit.

Looks like they came in about .06 under estimates.
BRB

Buying back in tomorrow on dip.
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Old 05-28-2020, 06:19 PM   #5027
Hog's Gone Fishin Hog's Gone Fishin is offline
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Thought I'd share my productive day today.

So I bought a property 5 years ago for $118,000. Bank financed 80%. seller financed 20%.

I rented the property out on a Lease/option 5 year contract. This means at the end of 5 years the tenant has the option to buy the property on the agreed price which was $148,000.

During this 5 years the tenant is responsible for all maintenance and repairs so basically all I had to do was acquire the property ,clean it up and rent it out. I spent less than $1000 initially on a few things to get it ready.

Over the contract I gave the tenant $300/month credit toward the purchase price. They executed the contract a few months early so the credit ended up being $16,800. They had not so good credit initially but used the 5 years to get it cleaned up. Around 700 score now.

So for some stupid reason the bank demanded a 20% down payment from them which was bullshit and left them short.

Anyway to make a long story a little shorter, I financed $12,300 of their down payment as a second mortgage at 7% interest over 5 years with an annual payment of $3121 due every May 28th. I got a check for $43,000 and some change and never put a dime into the property other than the initial cleanup. Less than $1k.

Real Estate has always been good to me. I really need to just pull my money from any stocks and just put it all there.

I have a property I bought 12 years ago for $40K as a bank repo also. I did the 5 year with another family for the price of $84k. They remodeled the house, installed new CH&A ,roof , got divorced and left the property.

I went in and replaced the windows, garage doors and painted .Did a new 2 year contract due to execute for 120K next May . That property is already paid off so capital gains are my only worry then.

**** stocks!
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Old 05-28-2020, 06:40 PM   #5028
jdubya jdubya is offline
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Quote:
Originally Posted by Hog's Gone Fishin View Post
Thought I'd share my productive day today.

So I bought a property 5 years ago for $118,000. Bank financed 80%. seller financed 20%.

I rented the property out on a Lease/option 5 year contract. This means at the end of 5 years the tenant has the option to buy the property on the agreed price which was $148,000.

During this 5 years the tenant is responsible for all maintenance and repairs so basically all I had to do was acquire the property ,clean it up and rent it out.
!
Ive always been intrigued by this strategy but havent the balls yet to pull the trigger on this type of deal. Seems like a win win scenario though. I do have a good deal of money in real estate but it is a bit hands off very similar to a REIT type of deal with RK Properties and have done very well. I have always wanted to go next level and do what you have done though. Congrats to your success.
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Old 05-28-2020, 09:25 PM   #5029
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by jdubya View Post
Ive always been intrigued by this strategy but havent the balls yet to pull the trigger on this type of deal. Seems like a win win scenario though. I do have a good deal of money in real estate but it is a bit hands off very similar to a REIT type of deal with RK Properties and have done very well. I have always wanted to go next level and do what you have done though. Congrats to your success.
The tenant was thrilled to close on the property. It actually appraised for $169K so he has a ton of immediate equity. It's a win win and everybody walked away happy.
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Old 05-28-2020, 09:41 PM   #5030
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Quote:
Originally Posted by Hog's Gone Fishin View Post
Thought I'd share my productive day today.

So I bought a property 5 years ago for $118,000. Bank financed 80%. seller financed 20%.

I rented the property out on a Lease/option 5 year contract. This means at the end of 5 years the tenant has the option to buy the property on the agreed price which was $148,000.

During this 5 years the tenant is responsible for all maintenance and repairs so basically all I had to do was acquire the property ,clean it up and rent it out. I spent less than $1000 initially on a few things to get it ready.

Over the contract I gave the tenant $300/month credit toward the purchase price. They executed the contract a few months early so the credit ended up being $16,800. They had not so good credit initially but used the 5 years to get it cleaned up. Around 700 score now.

So for some stupid reason the bank demanded a 20% down payment from them which was bullshit and left them short.

Anyway to make a long story a little shorter, I financed $12,300 of their down payment as a second mortgage at 7% interest over 5 years with an annual payment of $3121 due every May 28th. I got a check for $43,000 and some change and never put a dime into the property other than the initial cleanup. Less than $1k.

Real Estate has always been good to me. I really need to just pull my money from any stocks and just put it all there.

I have a property I bought 12 years ago for $40K as a bank repo also. I did the 5 year with another family for the price of $84k. They remodeled the house, installed new CH&A ,roof , got divorced and left the property.

I went in and replaced the windows, garage doors and painted .Did a new 2 year contract due to execute for 120K next May . That property is already paid off so capital gains are my only worry then.

**** stocks!
You are Chiefs Planet's version of Carlton Sheets!
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Old 05-28-2020, 09:45 PM   #5031
Munson Munson is offline
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Quote:
Originally Posted by Hog's Gone Fishin View Post
Thought I'd share my productive day today.

So I bought a property 5 years ago for $118,000. Bank financed 80%. seller financed 20%.

I rented the property out on a Lease/option 5 year contract. This means at the end of 5 years the tenant has the option to buy the property on the agreed price which was $148,000.

During this 5 years the tenant is responsible for all maintenance and repairs so basically all I had to do was acquire the property ,clean it up and rent it out. I spent less than $1000 initially on a few things to get it ready.

Over the contract I gave the tenant $300/month credit toward the purchase price. They executed the contract a few months early so the credit ended up being $16,800. They had not so good credit initially but used the 5 years to get it cleaned up. Around 700 score now.

So for some stupid reason the bank demanded a 20% down payment from them which was bullshit and left them short.

Anyway to make a long story a little shorter, I financed $12,300 of their down payment as a second mortgage at 7% interest over 5 years with an annual payment of $3121 due every May 28th. I got a check for $43,000 and some change and never put a dime into the property other than the initial cleanup. Less than $1k.

Real Estate has always been good to me. I really need to just pull my money from any stocks and just put it all there.

I have a property I bought 12 years ago for $40K as a bank repo also. I did the 5 year with another family for the price of $84k. They remodeled the house, installed new CH&A ,roof , got divorced and left the property.

I went in and replaced the windows, garage doors and painted .Did a new 2 year contract due to execute for 120K next May . That property is already paid off so capital gains are my only worry then.

**** stocks!
Damn, I need to get into real estate.
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Old 05-28-2020, 09:59 PM   #5032
Buehler445 Buehler445 is offline
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Man Hog you know different people than I do.

When we sold our last house a couple wanted me to finance it. They’d just take over payments. I told them it didn’t really work that way. Insurance was dependent on me (as insured) using it as a primary residence My mortgage was dependent on it being my primary residence and a bunch of other miscellaneous stuff that I would be risking for no gain other than being out from under it.

I did some rough math and it would have been a decent percentage higher payments if I had to finance it.

If i owned it outright it would work great. But where I owed money and needed the cash flow, I was taking a healthy risk.

Real Estate takes real capital man.

But once you have it you can use it to make more money. Just like farmland the toughest one to pay for is the first one.
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Old 05-28-2020, 10:08 PM   #5033
Hog's Gone Fishin Hog's Gone Fishin is offline
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Quote:
Originally Posted by Buehler445 View Post
Man Hog you know different people than I do.

When we sold our last house a couple wanted me to finance it. They’d just take over payments. I told them it didn’t really work that way. Insurance was dependent on me (as insured) using it as a primary residence My mortgage was dependent on it being my primary residence and a bunch of other miscellaneous stuff that I would be risking for no gain other than being out from under it.

I did some rough math and it would have been a decent percentage higher payments if I had to finance it.

If i owned it outright it would work great. But where I owed money and needed the cash flow, I was taking a healthy risk.

Real Estate takes real capital man.

But once you have it you can use it to make more money. Just like farmland the toughest one to pay for is the first one.
Real estate doesn't take capital. It takes leverage. Borrowing money has never scared me as long as I knew a way to pay it off..
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Old 05-29-2020, 05:40 AM   #5034
Hammock Parties Hammock Parties is online now
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Might be time to buy in on GNUS when it dips again today. What say you?
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Old 05-29-2020, 07:30 AM   #5035
neech neech is offline
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Might be time to buy in on GNUS when it dips again today. What say you?
It looks intriguing, I can see this one going up.
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Old 05-29-2020, 07:31 AM   #5036
Demonpenz Demonpenz is online now
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Old 05-29-2020, 12:43 PM   #5037
Hammock Parties Hammock Parties is online now
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Might be your last chance to get in on VTIQ at sub-30 prices this afternoon.

Merger is on Tuesday and then who knows where it goes. Lots of people think it could be the next TESLA.
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Old 05-29-2020, 01:20 PM   #5038
Hammock Parties Hammock Parties is online now
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IBIO CFO just dumped a bunch of shares.

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Old 05-29-2020, 01:29 PM   #5039
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IBIO CFO just dumped a bunch of shares.


You should let him know that it's going to go up a lot. I'd hate to see him mess up and sell too early.
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Old 05-29-2020, 02:20 PM   #5040
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been grabbing up some OXY....still holding onto IBIO for kicks
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