MONEY: have 12 single family rental homes

Thursday, January 3, 2008

FROM AN EMAIL EXCHANGE ABOUT A NEARBY HOUSE BEING SOLD

284k?

Always thought the way to wealth was to have 12 single family rental homes.

At 300, the opportunity cost is about 15k. If you financed 300k for 30 years at 5%, the PI is 1610. If you could rent it at say 2k, then at the end of 30 years, you have an asset that throws off 24k per year. Twelve of them is 240+48=288/year. An excellent retirement.

I first saw this proposed in the 70s by a discredited hustler named Sonny Bloch. (Later convicted on something unrelated to real estate.)

Shoulda, coulda, and woulda if I was smart.

You have to be meticulous with money. Diversify your risks. But, I can see how it is a guaranteed winner. Like when we rented the shore house. Rents edge up over time. You sign one year leases with your tenants. Hefty security deposits. A lot of headaches, but after 30 years, or 40 years, you have the equivalent of the family farm. Incorporated it as a family business to minimize tax and legal risks.

Sigh.

Too late, I get smart.

:-)

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Note: You have to bootstrap into 12. Optimistically, you get into one per year. Or per two year. You have to ruthlessly buy cheap quality houses. Modest improvements; diligent maintenance. Track the cash flow. Eventually the equity builds up. I think you title each one in its own corporate entity. Superior performing ones could be sold off at a premium. Hard work, but the road to riches imho.

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PRODUCTIVITY: everyone’s story is invaluable to understanding the human experience

Thursday, January 3, 2008

http://www.mentalfloss.com/blogs/archives/10853

Creatively Speaking: Isobella Jade’s memoir
by David – January 2, 2008 – 3:02 AM

***Begin Quote***

It’s a new year, so I thought I’d start by introducing a new feature I’m calling Creatively Speaking, in which I interview all sorts of artists for a first-hand look at how they go about creating their work.

***End Quote***

Humorously, NEW YEAR’S DAY, I wrote the following comment.

http://www.jibberjobber.com/blog/archives/1060#comments

*** begin quote ***

Hey, you have to have a certain amount of ego to take the bruises of everyday life. After layoffs, and all the other bad things that happen to good people every lifetime, you have to have the self-confidence to say “I wrote THE book” on something. Even if it’s one’s own autobiography, everyone has a story to tell.

*** end quote ***

And the very next day, the UNIVERSE delivers some reinforcement!

*** begin quote ***

DI: When you were writing the book at Apple, how did you save your files?

IJ: I saved the files each day to my Yahoo account, email form. I still have most of them saved. The Apple store did bring some tragic moments though while writing the book…I did have a moment when the Internet froze on the iMac I was working on while writing. Which meant I couldn’t save my document to my email and I thought about saving it to a folder on the desktop or making one somewhere discreet so no one would take it. After I pouted to a store employee about my catastrophe he told me I could buy a CD at the store and then download it, but my funds were limited at the time. So instead I called a film director I knew who lived in SoHo and even with a broken leg, in his crutches he brought me a CD and I was able to burn my document on the disk and save one of the best parts of my book. I believe once you write something, you can never fully write it again the same, so I wasn’t going to leave the store without it. And yes I did cry, stomp my foot, and swear a few times over it. It was extremely dramatic at the time because I also realized at that moment how much the store meant to me, what I was doing, and that even if the store didn’t know it, the store was my means to survival sort of, and it was like I saw my desperation on the computer screen waiting for the Internet to be turned on.

*** end quote ***

If you don’t believe that your story is worth telling then who will think it so. (Other than me of course!)

I wish that all my relatives took the time to memorialize their wisdom. Even if they were dead wrong (i.e., “the world is flat”), it serves as a jumping off point from whence you came. As they say “past is prologue” and “those, who don’t learn from history, are doomed to repeat it”.

We have in the internet and endless archive of all human thought that gets recorded. True, much of it (i.e., inet porn) is imho a waste of electrons. But who knows what a genetic researcher can glean from all those photos? I’m not about to throw anything away. Especially when its so cheap to keep. (Consult the Inet Archive guy Brewster Kahle on how it’s possible to archive all human knowledge.) Maybe they will need to know what humans looked like in the Year 2000 some time in the Year 4000 after all the genetic engineering makes humans all look alike.

My point was: everyone’s story is invaluable to understanding the human experience.

And, imho, to leave this existence, without recording it in some form, is a selfish act with tragic consequences.

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POLITICAL: Iran hanged 13 convicted criminals on New Year’s day

Thursday, January 3, 2008

http://www.americanthinker.com/blog/2008/01/happy_new_year_in_iran.html

January 03, 2008
Happy New Year in Iran
Ethel Fenig
While we were enjoying New Year’s day on Wednesday

*** begin quote ***

Iran hanged 13 convicted criminals on Wednesday, including the mother of two young children who had been found guilty of murdering her husband after discovering he was having an affair, reports said.

*** end quote ***

And, we are worried about these folks?

They virtually enslave half their people (i.e., women). And, they tell the other half that they are better.

What a recipe for success. Ours!

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GOLDBUG: real glitter for gold bullion

Thursday, January 3, 2008

http://investmentpostcards.wordpress.com/2008/01/02/gold-glitters-brightly-at-start-of-2008

Gold glitters brightly at start of 2008
Posted by Prieur du Plessis under Gold
Tags: Bullion, Business, Commodities, Economy, Finance, Gold, Investment, Markets, Money

*** begin quote ***

Waving the old year goodbye with a few new records under the belt is no mean feat, but the real glitter for gold bullion is that most indicators seem to point to more good news down the line.

*** end quote ***

With gooferment spending out of control — several ongoing “wars” — foreign and domestic, the sub-prime mess, social security ponzi, medicare costs, medicare drug costs, presidential candidate promising higher taxes — it’s hard to imagine this reversing any time soon.

About the ONLY hope is an unexpected Ron Paul win. (Then, I’d be a “buy everything — the good times are here” nut!)

But, if one assumes he doesn’t win, then I’d look for gold to have an unlimited run up.

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RANT: Hey Governor Corzine — still wanna hear about state cars? … (continued) …

Thursday, January 3, 2008

You don’t? TOO BAD!

Date: 20080102
Time: 1643
Location: I295N near Exit 65A
Subject: SG 02 375 White capped pick up
Violation: Speeding and tailgating

As a mitigating factor, it wasn’t in the left lane. He must have been on his cell phone because he didn’t whizzz by.

Any way I am sure that he was hurrying to get to I assume trenton to protect and serve me.

Arghhh!

P.S.: Dear reader, I don’t write these every day. Just when I ARRIVE early for work, particularly agitated aggravated and have to wait for my employer workstation to get online.

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JOBSEARCH: Age discrimination is rampant!

Thursday, January 3, 2008

FROM AN MLPF POST

>Late Introduction
>Posted by: “Joseph S Vinci”
>Tue Jan 1, 2008 4:46 pm (PST)
>Hi all I’m Joe Vinci, I have been a member of the group for a few months,
>I am a 48 Year old IT Director with over 28 Year’s of experience in various
>I have been recently laid off due to “Off-Shoring” after 25 years on the

Hi, Joe, I’m a few years in front of you in the “race to the finish line” in the same discipline, but no rug rats to take care of me in my old age. :-( Guess I’ll be depending upon social security. Hah!

Assuming that you’re not a “lotto winner”, I’ll tell you what I wish someone had told me two decades ago.

“Age discrimination is rampant! Get ready for it now.”

:-)

I work with out-of-work execs, mostly IT, despite being a full time employee executive in IT. (Although the way life is, I could be unemployed tomorrow!) My “turkey farm” is at http://tinyurl.com/lxu93 for your use. (Turkey is what we called each other at my first outplacement experience.) The thing that all these folks have in common is that they were totally unprepared for the axe to fall on them. I pontificate to anyone who will listen that “awareness” is the first principle to success. I say things like “you’re only sure of the last paycheck you cashed”, “when is your turn at the unemployment window”, and “like at the poker table, if you don’t see the sucker, you’re it”. When you’re aware and expecting it, you’ll have a big emergency fund, a tuned up network, and lots of options. When you’re not, it’s a bad fire drill. I can make all the usual suggestions — a branded email, website, blog, elevator spiel with geographic and financial comfort zones, network using Lucht AND LinkedIn, as well as do EVERYTHING at once. But, you’ll hear those said by others.


LIBERTY: a state and municipal public-private partnership

Thursday, January 3, 2008

http://www.muniwireless.com/article/articleview/6687/1/23

Ohio rings in New Year with a broadband initiative
• Posted by Carol Ellison at 7:50 AM Today

***Begin Quote***

Ohio Governor Ted Strickland officially launched Connect Ohio, a state and municipal public-private partnership aimed at mapping and filling gaps in broadband access across the state.

“The goal of Connect Ohio is to create customized support for local communities to meet their individual technological needs while helping expand broadband service to all residents and businesses,” Strickland said in announcing the program.

***End Quote***

“Public-Private” partnership = fascism.

“fill in the gaps” = uneconomic allocation of resources (i.e., there’s no broadband there because no one want to pay for it)

No, once again, gooferment at work. Undermining our liberties. I wonder if the taxpayers of Ohio wanted their money going down this rat hole?

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