Roberto Ribas's Discussions

when a realtor uses the terms, "bitter renter", "your paying your landlords mortgage", etc you know you are dealing with someone with diminished mental capacity! examine:Rent= $ paid for the use of a homeInterest = $ paid for use of moneyEven if you had cash to buy the home, you could simply invest the cash at say an online checking account paying 5 point whatever percent interest, and that would comfortably pay the rent in many zips today, with money left over to save.Want the security of staying in the home longer? Sign a longterm lease!

Sell your house first!DOn't listen to jarrod, that is taking a chapter out of his new book, "how to go bankrupt easily"We are in a declining market, holding 2 properties gives you the opportunity to double your loss!also, would a reasonable rent come close to covering the expense on the other home? do you have reserves for when that perfect 2 year tenant suddenly disappears/quits paying rent and forces you to evict/ trashes your home? Do you have home maintenance skills and not mind calls in the middle of dinner about overflowing toilets?I am a realtor/landlord, and I would never advise a friend to casually enter this business simply to avoid facing the present day value of their home! It is serious stuff...

wow lkbryant! such insightfull analysis, such profoundly intelligent discourse!

so does negative equity! ask everybody in foreclosure! lkbryant = stupid troll

On future offers, make the seller pay the appraisal! At least here in AZ that is a simple box to check on the contract. Further, the contract in az is contingent on the house appraising such that the specified loan is achieved... ie, if it doesn't appraise, you can cancel. This can generally be used as pretty good leverage to get a price discount from the seller, particulary in todays moribound market.

long island bubble: that one is easy to predict, but difficult to time or gauge the severity of! But keep in mind that most realtors flunked econ 101! (seems they passed marketing 101 though!)I hope we go back to 20% down only! I would love to start acquiring a year or two after that effected the market!

JARROD:

JARROD:

Jarrod: you live in kingman and spout this nonsense? buy now hahakingman is the absolute armpit of arizona!

first of the seattle area is stagnating now, per case-shiller index and other indicators... You will be late to the party, but you are coming just the same.your response is about like saying, "yeah that guy got bit by a rattlesnake, but he still looks fine so nothing bad will happen"second off, in investing you don't have to be perfect on your predictions, just right more than you are wrong. I bought put options on countrywide when they were trading at $30... over the next few months they went up to $35 and many of my friends, people just like you, said "hey you were wrong! you lost a lot of money there countrywide will do better as smaller lenders go out of business" then countrywide imploded and i sold at 6 times my investment. Truthfully, they have gone done alot since I sold, so i could have made more, but once again, I don't have to be perfect on timing, just right more often then I am wrong.so seattle is still going ok today, big deal, so was countrywide. The fundamentals always win in the long run, and people who understand that, people like me, make lots of money over the average.People like you never understand that, and try to argue from one second of data that the generaly sound principal is wrong.Full disclosure: I am a realtor, I own 2 homes here (PHX) and an apartment building in Spain, I am also a professor of finance and statistics... So go ahead, shine your sunshine around, I stand by my predictions.