Rush Limbaugh, the original American Idiot.

[aggiealum]

Quote:
Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/120#post_3536014
20 years ago there were not millions of gay people wanting to get married. Just because there are not a slew of people wanting to marry incestually does not make it different. There are millions of people that would like to shot someone in this country....just because there are a lot of people wanting to kill it should be allowed? You are basing your argument off numbers. If your kids wanted to marry each other, would you be fine with that? My whole point is I am asking at which point does moving the "moral" line go to far?
I love how you know what is in my mind, when I have said no such thing. How many times must I state I have no issue with it? I figured millionaires would atleast be able to have a simple grasp of reading the english language.
Darth (you act as if we have debated before) Tang
I obviously don't have a clue what's in your mind, and by your nonsensical responses, neither do you. Now you want to throw some ridiculous analogy of shooting someone into the mix. How do you know there weren't millions of gays wanting to get married 20 years ago? Back then, if you "came out of the closet", you were more likely to get beaten to death and labeled a hundred different labels, much less being allowed to get married. Twenty years ago, interracial marriages were deemed immoral and unacceptable. So has our society denigrated morally because we now accept those with open arms?

I'll make it simple. There is no definitive "moral line", because we as a society have different views as to the true definition of morality. You think homosexuality is immoral. I don't. So which of us is correct?

My wealth has absolutely nothing to do with my reading comprehension. Looks like your lack of it seems to skew you basic sense of logic.

 

[2quills]

How are those unrealistic numbers?  What is the payment on a $150K house with whatever interest rate yoiu seem to give these victims of yours?  You asked me where I got the 10 years to recoup, and I gave iit to you.  Again, simple math.  If you have a $150K loan, and the payment is $1200/month, 150K / 1200 = 125 months = 10.42 years.  How do you get the money back any quicker?
$150k wouldn't be the initial investment that's sale price. Total investment on average is about 2/3rds of the sale price. Maybe a little more, maybe less just depends. Remember, we are the bank so its not like we are actually handing over $150k, they're just buying the house from us. It works well in this market that's all I can tell ya. And its a lot less work in the long run vs renting them. Nothing about the monthly payment will change over the course of the loan so people know what they're getting up front. Only thing that changes might be taxes and insurance for them.

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/120#post_3536059
$150k wouldn't be the initial investment that's sale price. Total investment on average is about 2/3rds of the sale price. Maybe a little more, maybe less just depends. Remember, we are the bank so its not like we are actually handing over $150k, they're just buying the house from us. It works well in this market that's all I can tell ya. And its a lot less work in the long run vs renting them. Nothing about the monthly payment will change over the course of the loan so people know what they're getting up front. Only thing that changes might be taxes and insurance for them.
OK. So your initial investment is $100K. If you sell it for $150K, give them a rate of 4.35% over 30 years with a $2000 down payment, the principal and interest would be around $720/month. 100K / 720 = 139 months = 11.57 years just to get your initial investment of $100K back.

 

[2quills]

9.4 is our rate. People know that up front and they accept it. Once we post sale houses very rarely sit for more than a couple of weeks. Most would rather pay that rate vs renting because they're happier to be in something they can call their own.
Your questions regarding another bubble burst are not nearly as likely to hurt us like they did the big banks who were handing out the ARM's. The market down here is strong. Our investors didn't go under after the last one because of that, not by a long shot.
Worst case scenerio, what would you do with your rental property if that happened again? There's your answer regarding our mortgage houses. They already own them so they can pretty much do what they want with them at that point. Even if it came down to renting them for cheap they'll still make money regaurdless. Just not as much as they are right now. No big deal really, theyve done it long enough to be rich for life at this point no matter what happens. We have 300+ mortgage houses currently and the number grows each year with another 80+ rental properties between town houses and commercial property. This year we had about 6 people pay off houses. So theyll buy another 6 pluss 10 more the next time they go on a buying spree which will be real soon.
My wife already has a stack of houses sitting on her desk waiting for them. Some of which are still in the process of forclosure with other banks that you won't find in the listings yet.

 

[darthtang aw]

I obviously don't have a clue what's in your mind, and by your nonsensical responses, neither do you.  Now you want to throw some ridiculous analogy of shooting someone into the mix. How do you know there weren't millions of gays wanting to get married 20 years ago?  Back then, if you "came out of the closet", you were more likely to get beaten to death and labeled a hundred different labels, much less being allowed to get married.  Twenty years ago, interracial marriages were deemed immoral and unacceptable.  So has our society denigrated morally because we now accept those with open arms?
I'll make it simple.  There is no definitive "moral line", because we as a society have different views as to the true definition of morality.  You think homosexuality is immoral.  I don't.  So which of us is correct?
My wealth has absolutely nothing to do with my reading comprehension.  Looks like your lack of it seems to skew you basic sense of logic.
Show me where i said homosexuality is immoral. Your inability to comprehend the English language is only surpassed by your inflated ego.
Darth (hooked on phonics worked for me) Tang

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536064
9.4 is our rate. People know that up front and they accept it. Once we post sale houses very rarely sit for more than a couple of weeks. Most would rather pay that rate vs renting because they're happier to be in something they can call their own.
Your questions regarding another bubble burst are not nearly as likely to hurt us like they did the big banks who were handing out the ARM's. The market down here is strong. Our investors didn't go under after the last one because of that, not by a long shot.
Worst case scenerio, what would you do with your rental property if that happened again? There's your answer regarding our mortgage houses. They already own them so they can pretty much do what they want with them at that point. Even if it came down to renting them for cheap they'll still make money regaurdless. Just not as much as they are right now. No big deal really, theyve done it long enough to be rich for life at this point no matter what happens. We have 300+ mortgage houses currently and the number grows each year with another 80+ rental properties between town houses and commercial property. This year we had about 6 people pay off houses. So theyll buy another 6 pluss 10 more the next time they go on a buying spree which will be real soon.
My wife already has a stack of houses sitting on her desk waiting for them. Some of which are still in the process of forclosure with other banks that you won't find in the listings yet.
9.4? SERIOUSLY? You claimed you didn't deal with people with bad credit. Who in the world that has "good credit" would accept a ridiculous rate like that when there are HUNDREDS of banks offering rates half that amount? People like you are who give the real estate industry a bad name. You prey on people who have no other alternatives, and when they default, it screws it up for those that have good credit and lose the cheaper rates. Sorry, but your numbers are about as inflated as your interest rates. How are those Section 8 properties working out for you?

 

[aggiealum]

Quote:
Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536068
Show me where i said homosexuality is immoral. Your inability to comprehend the English language is only surpassed by your inflated ego.
Darth (hooked on phonics worked for me) Tang
Jesus. THIS ENTIRE ARGUMENT STARTED ABOUT HOMOSEXUALITY AND GAY MARRIAGE. Now all of a sudden, it has nothing to do with it. You claim this nation's "moral line" has moved downward over the last several decades. If it's not due to homosexual marriages, what then? You went off on this ridiculous tangent about incestual relationships to argue about this "moral decline", WHEN IT HAS NOTHING TO DO WITH THE CONVERSATION. You use this childish deflection to try and make it appear I don't knbow what you're implying, when anyone with half a brain knows what kind of head game you're trying to play. You're just one of those people who argue just for the sake of arguing. "I'm right, you're wrong. If you prove me wrong, I'll deflect and say you don't know what you're talking about." You're a piece of work. Based on your snarky little parenthetical quotes, I can understand why other people who come on this forum come to the same conclusions as me.

Simple question. Is homosexuality immoral. Yes or no.

If the answer is no, then how would gay marriages attribute to the moral decline of our society?

 

[2quills]

9.4?  SERIOUSLY?  You claimed you didn't deal with people with bad credit.  Who in the world that has "good credit" would accept a ridiculous rate like that when there are HUNDREDS of banks offering rates half that amount?  People like you are who give the real estate industry a bad name.  You prey on people who have no other alternatives, and when they default, it screws it up for those that have good credit and lose the cheaper rates.  Sorry, but your numbers are about as inflated as your interest rates.  How are those Section 8 properties working out for you?
Ouch, dude! Such harsh words coming from the guy who was here earlier talking using the police to help him kick dead beat renters out of his "quality" properties. How'd those dead beats get in there in the first place, I wonder?
Actually, I'm glad you brought this up because there are a lot of misconceptions and yes even a lot of things to watch out for when it comes to the owner finance game. As with anything in life you need to read contracts carefully in order to understand what you could potentially be getting yourself into. Rent to own situations are typically where a lot of people find themselves screwed. Because there are a whole lot of people out there willing to sell you a property, let you sink some money into it and then foreclose on you the first chance they get so that they can turn it around and sell for a profit.
In our case our interest rate is high, yes. Actually, it has to be to cover our own butts. We don't deal with people who have previous foreclosures, bankruptcies or judgments against them. But we do know that credit scores in the 600's doesn't necessarily mean that you're a dead beat who can't pay their bills. Many people have gone through illnesses, or divorces that have effected their scores. There are also those who don't want to buy into "the system" in order to reach high scores in the frst place. We are mostly concerned with your income, how long you've been at your job or business and can you really afford the house? If an oil field supervisor comes in with a poor score but has $20k cash to put down on a house you don't think we're going to take that?
Yes, our rates are high. But they don't change. Even if banks start raising their rates (which will be happening soon) ours stays the same. The only reason rates are this low now is because the feds forced it to happen. The bubble needed to burst in order to rebuild, wiser and better than before. Nobody is holding a gun to anyone's head here and nobody is trapped in. Like I said, we allow people to go out and find one of those "hundreds of banks" with lower rates and refinance the home. All we ask is for 2-3 years of faithful payment and you can do that. That way we make a little money while helping you build your score and you get to move on to a better deal. Fair is fair, no?
When I was a kid and got my first car I got in over my head. Lost the car and killed my credit. But I needed a reliable mode of transportation. So I took a high rate loan and played it off in three years. Was it a horrible deal for the car, sure. But it boosted my score back up so that I was able to go out and get a better deal on a truck. I didn't curse the owner of the high interest rate car lot or call him a predator. Actually, I was grateful for the opportunity that I could get my credit back as quickly as I did.. I simply considered the high interest the price I had to pay for screwing up in the first place.
You can call us predators if you like. It doesn't offend me. We are human after all. But you're making assumptions based on a lack of experience on your part. You should be thanking those people you're calling dead beats for helping you make your millions. If you have such a problem with them then maybe it's time to ask yourself what the hell it is you're doing?
Nobody gets into the real estate game looking for chump change. Nobody! If you want to get to the top of the food chain in this business then you gotta be smarter and more cunning than the next guy. Predator? I can live with that. Can you?

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536064
9.4 is our rate. People know that up front and they accept it. Once we post sale houses very rarely sit for more than a couple of weeks. Most would rather pay that rate vs renting because they're happier to be in something they can call their own.
Your questions regarding another bubble burst are not nearly as likely to hurt us like they did the big banks who were handing out the ARM's. The market down here is strong. Our investors didn't go under after the last one because of that, not by a long shot.
Worst case scenerio, what would you do with your rental property if that happened again? There's your answer regarding our mortgage houses. They already own them so they can pretty much do what they want with them at that point. Even if it came down to renting them for cheap they'll still make money regaurdless. Just not as much as they are right now. No big deal really, theyve done it long enough to be rich for life at this point no matter what happens. We have 300+ mortgage houses currently and the number grows each year with another 80+ rental properties between town houses and commercial property. This year we had about 6 people pay off houses. So theyll buy another 6 pluss 10 more the next time they go on a buying spree which will be real soon.
My wife already has a stack of houses sitting on her desk waiting for them. Some of which are still in the process of forclosure with other banks that you won't find in the listings yet.
I think I've figured out your "game". You say you've had "about 6 people pay off houses". So how long did you say you've been doing this? You sold these 6 houses when, 15 years ago, 20? If not, then you must either be selling these crackerbox 2 bedrooms that are 1200 sq. ft. or less, manufactured homes, or double-wides. The latter two types would explain how you can con someone into paying an interest rate that's more than double the national average. I sell homes to individuals and couples with credit scores in the low 600's, and they still manage to get an interest rate in the 6's. 9.4 hasn't been around since the 90's, if not earlier. The other alternative are the Section 8 homes I mentioned. Government subsidized housing that WE the taxpayers end up paying for. You can hit them up with your ridiculous interest rate because they don't care since they aren't making the payment with their own money. There's some real estate trolls here in Houston that play that game. I could do the same, but I have scruples and a conscience.

 

[2quills]

Aggie, re read my comment. I said 6 people paid off their houses THIS YEAR. They paid off early before their 30 years was up. Jesus!

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536105
Ouch, dude! Such harsh words coming from the guy who was here earlier talking using the police to help him kick dead beat renters out of his "quality" properties. How'd those dead beats get in there in the first place, I wonder?
Actually, I'm glad you brought this up because there are a lot of misconceptions and yes even a lot of things to watch out for when it comes to the owner finance game. As with anything in life you need to read contracts carefully in order to understand what you could potentially be getting yourself into. Rent to own situations are typically where a lot of people find themselves screwed. Because there are a whole lot of people out there willing to sell you a property, let you sink some money into it and then foreclose on you the first chance they get so that they can turn it around and sell for a profit.
In our case our interest rate is high, yes. Actually, it has to be to cover our own butts. We don't deal with people who have previous foreclosures, bankruptcies or judgments against them. But we do know that credit scores in the 600's doesn't necessarily mean that you're a dead beat who can't pay their bills. Many people have gone through illnesses, or divorces that have effected their scores. There are also those who don't want to buy into "the system" in order to reach high scores in the frst place. We are mostly concerned with your income, how long you've been at your job or business and can you really afford the house? If an oil field supervisor comes in with a poor score but has $20k cash to put down on a house you don't think we're going to take that?
Yes, our rates are high. But they don't change. Even if banks start raising their rates (which will be happening soon) ours stays the same. The only reason rates are this low now is because the feds forced it to happen. The bubble needed to burst in order to rebuild, wiser and better than before. Nobody is holding a gun to anyone's head here and nobody is trapped in. Like I said, we allow people to go out and find one of those "hundreds of banks" with lower rates and refinance the home. All we ask is for 2-3 years of faithful payment and you can do that. That way we make a little money while helping you build your score and you get to move on to a better deal. Fair is fair, no?
When I was a kid and got my first car I got in over my head. Lost the car and killed my credit. But I needed a reliable mode of transportation. So I took a high rate loan and played it off in three years. Was it a horrible deal for the car, sure. But it boosted my score back up so that I was able to go out and get a better deal on a truck. I didn't curse the owner of the high interest rate car lot or call him a predator. Actually, I was grateful for the opportunity that I could get my credit back as quickly as I did.. I simply considered the high interest the price I had to pay for screwing up in the first place.
You can call us predators if you like. It doesn't offend me. We are human after all. But you're making assumptions based on a lack of experience on your part. You should be thanking those people you're calling dead beats for helping you make your millions. If you have such a problem with them then maybe it's time to ask yourself what the hell it is you're doing?
Nobody gets into the real estate game looking for chump change. Nobody! If you want to get to the top of the food chain in this business then you gotta be smarter and more cunning than the next guy. Predator? I can live with that. Can you?
You obviously are unfamiliar with the rental market. My management company does credit histories and references on any potential renter. They have to pay first and last months rent, plus a security deposit in order to rent the house. If they miss more than two consecutive rent payments, they're out. Period. Why they missed the rent is none of my concern. It doesn't happen often, but it does happen.

Dude, you could care less whether they can afford to pay for the house if you're screwing them with those kind of interest rates. Yea, there are morons and suckers out there that are incapable of reading a simple contract, and obviously didn't get past 9th grade math if they can't figure out you're charging them 4 times the normal amount for that house if they plan to stay in it full term. Like I said, I see buyers with credit scores in the 600's get 6.2% all day. They surely don't need your predator loans. If a guy has $20K to drop on a house, and he has a score in that range, I can get him into a home all day 3 points under what you charge.

You may be human, but that's only because you breath and bleed. I'm amazed you've lasted as long as you have. Guess that explains what kind of people are living in the Corpus Christi area. Then again, you are close to the Eagle Ford Shale Boom, where even the crap properties are selling two the three times their value since there's no available rental properties around there.

Unless we have a major up-tick in the economy, the current interests rates aren't going to climb that much. They've been in the current range now for more than 5 years. They sure aren't going to double anytime soon. I find it laughable you keep claiming I have "a lack of experience" when I've probably made more in the last 5 years than you've made in the last 15. My "dead beats" are minimal. I make my money on quality and turn-key properties with individuals who can get mortgages on their own. It's called a reputation. People like you end up getting burned in the long run. When the economy gets better, there's fewer people in dire straits that need to resort to getting bent over by people like you in order to get into a home. So unless you can cater to the higher clientele, you'd better find a backup occupation.

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536107
Aggie, re read my comment. I said 6 people paid off their houses THIS YEAR. They paid off early before their 30 years was up. Jesus!
How can anyone pay off a house that's more than $60K early if you're ripping them off with 9.4 interest rates? If they have the capital to pay off a house that quick, why would they even agree to your terms? If they are paying them off early, then you're losing money, since you claim that you make the gist of your money on financing.

 

[2quills]

Good luck with your properties, Aggie. I wish you all the best in figuring out our scam. But you're not quite there and I shouldn't have to hold your hand here.

 

[darthtang aw]

Jesus.  THIS ENTIRE ARGUMENT STARTED ABOUT HOMOSEXUALITY AND GAY MARRIAGE.  Now all of a sudden, it has nothing to do with it.  You claim this nation's "moral line" has moved downward over the last several decades.  If it's not due to homosexual marriages, what then?  You went off on this ridiculous tangent about incestual relationships to argue about this "moral decline", WHEN IT HAS NOTHING TO DO WITH THE CONVERSATION.  You use this childish deflection to try and make it appear I don't knbow what you're implying, when anyone with half a brain knows what kind of head game you're trying to play.  You're just one of those people who argue just for the sake of arguing.  "I'm right, you're wrong.  If you prove me wrong, I'll deflect and say you don't know what you're talking about."  You're a piece of work.  Based on your snarky little parenthetical quotes, I can understand why other people who come on this forum come to the same conclusions as me.
Simple question.  Is homosexuality immoral.  Yes or no.
If the answer is no, then how would gay marriages attribute to the moral decline of our society?
You brought up homosexual marriage. I in]turn responded with this.

Touching on your fetus comment. You clearly do not see a fetus as a baby. So therefore this discussion can not be debated since we do not agree on the premise of when life begins. Therefore the discussion of "personal freedom" can not be had since we hold two different views of what makes up a human being and when their natural rights begin as a human. Touching on homosexuality...No one has ever stated a man should not love another man or a woman should not love another woman. I love my father and and my brother. Just because someone loves someone does not mean they should be allowed to marry. If I love my sister, should I be able to marry her? Live with her sure. Marry her...no. When it comes to "love" is there a moral line that needs to be maintained?

I asked a question, that you declined to answer and can't seem to grasp my point. So to continue in such a manner is pointless.
Your argument towards gay marriage is it is right that has been infringed upon by our federal government.
So lets try this. Under what Constitutional Law is the legality of Marriage covered by the Federal government?

 

[2quills]

You obviously are unfamiliar with the rental market.  My management company does credit histories and references on any potential renter.  They have to pay first and last months rent, plus a security deposit in order to rent the house.  If they miss more than two consecutive rent payments, they're out.  Period.  Why they missed the rent is none of my concern.  It doesn't happen often, but it does happen. I'm familiar enough to know that it happens to everyone more often than to say that it doesn't happen often. Of course you don't care why they can't make their rent. Why would you? You're the investor with the high moral reputation.
Dude, you could care less whether they can afford to pay for the house if you're screwing them with those kind of interest rates.  Yea, there are morons and suckers out there that are incapable of reading a simple contract, and obviously didn't get past 9th grade math if they can't figure out you're charging them 4 times the normal amount for that house if they plan to stay in it full term.  Like I said, I see buyers with credit scores in the 600's get 6.2% all day.  They surely don't need your predator loans.  If a guy has $20K to drop on a house, and he has a score in that range, I can get him into a home all day 3 points under what you charge. Tell me, if you can get people those rates all day long and you have a plethora of great houses around the Houston market to chose from then why aren't you taking advantage of that? Why invest in off shore tax sheltered property? For the life of me I can't figure that one out.
ay be human but that's only because you breath and bleed.  I'm amazed you've lasted as long as you have.  Guess that explains what kind of people are living in the Corpus Christi area.  Then again, you are close to the Eagle Ford Shale Boom, where even the crap properties are selling two the three times their value since there's no available rental properties around there. Actually that is what is happening here. Not enough rental property to go around. Every low life investor in every single property around these towns have jacked their rental prices sky high. So much so in fact that people like us can sell houses with inflated interest rates that rival their prices. Houston isn't that much different. People in the oils business are making so much money right now that they don't care. They have the money and they need a place for their families to live. We are simply following suit of all those other REPUTAL investors out there.
Unless we have a major up-tick in the economy, the current interests rates aren't going to climb that much.  They've been in the current range now for more than 5 years.  They sure aren't going to double anytime soon.  I find it laughable you keep claiming I have "a lack of experience" when I've probably made more in the last 5 years than you've made in the last 15.  My "dead beats" are minimal.  I make my money on quality and turn-key properties with individuals who can get mortgages on their own.  It's called a reputation.  People like you end up getting burned in the long run.  When the economy gets better, there's fewer people in dire straits that need to resort to getting bent over by people like you in order to get into a home.  So unless you can cater to the higher clientele, you'd better find a backup occupation.
Thanks for the tip. We cater to a lot of folks.

 

[aggiealum]

Quote:
Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536111
You brought up homosexual marriage. I in]turn responded with this.
I asked a question, that you declined to answer and can't seem to grasp my point. So to continue in such a manner is pointless.
Your argument towards gay marriage is it is right that has been infringed upon by our federal government.
So lets try this. Under what Constitutional Law is the legality of Marriage covered by the Federal government?
There was no point in asking because it's irrelevant. You say I won't answer your questions, when at the same time, you refuse to answer mine. Instead you just skirt around the issue and deflect.

Of course it's not. That's because the religious Right refuse to allow it come up to the Congressional floor for the debate. The individual states refuse to allow the differentiation of whatever marriages an individual want to have. When you have what is essentially segregation based on which State you live in, we look towards our Federal Govt. to make laws that apply to individuals no matter where they live in this country. What if Colorado suddenly came up and said, "Since we don't allow same sex marriages, we also won't allow heterosexual marriages. Want to get married? Move to Texas." As you stated, there's no Constitutional Law that states the legality of Marriage, so any state could do this. Of course this would never happen because heterosexual marriages have always been the norm. Now same-sex marriages are becoming the norm, so there's no reason not to allow them as well. If it takes a Constitutional Amendment to change that mentality, so be it.

 

[aggiealum]

Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/140#post_3536120
Thanks for the tip. We cater to a lot of folks.
You question my moral high ground when you're sitting there taking advantage of a bunch of temporary workers that are just looking for a bed and a bath while they work in these oil fields? That's hilarious. I'll clue you in. Enjoy the rush while it's there. Those properties will dry up just like the oil under the ground in that area.

I do take advantage of the residential real estate market around the Houston area all the time. However, prices have been stagnant for the last few years, and there's not much room for markup to make the same profits that I make in the Commercial arena. Case in point. I had a client that was leasing commercial space for his business, and he was looking for a property in a certain area of Houston to relocate for purchase. I came across the perfect property for $1.5 million and turned around and sold it to him for $2.25 after making minor modifications based on his specs and requirements. How many of those oil field properties would you have to sell at your inflated interest rates to make $750K?

You obviously don't understand the definition of diversification. I started investing in foreign markets after making several trips down into those areas for vacations, and realized I was throwing thousands of dollars away in condo and hotel rentals. So I picked up a few properties that I could use a couple weeks out of the year, then rent them out the remainder of the year to other individuals like myself that would prefer having a larger space with a full kitchen that costs the same or less than staying in some overpriced resort. I started out with one or two, then realized the large revenue stream I could obtain having multiple properties. As it stands, I take the revenues I get from renting the exiting properties and stick that in the bank. Once I reach a certain profit level, I use that money to purchase another piece of property in the area. Costs me literally nothing and is a low-risk investment. So why wouldn't anyone familiar with the real estate business follow this model if it's pure profit and a constant revenue generator?

 

[2quills]

Do what makes you happy, Aggie. It makes me no difference.

 

[2quills]

You question my moral high ground when you're sitting there taking advantage of a bunch of temporary workers that are just looking for a bed and a bath while they work in these oil fields?  That's hilarious.  I'll clue you in.  Enjoy the rush while it's there.  Those properties will dry up just like the oil under the ground in that area. Yes, they are going to dry up we know that. It doesn't matter. The money that's already been made means that once the boom is gone then the houses that come back to us can get sold off for dirt cheap to those who stay behind. Whether or not we decide to stick a foreclosure on some one just depends. If a parent's child comes down with cancer and they can't stay in the house but are trying their hardest and communicating with us the we don't want to put them in anymore financial ruin than what they're already facing. But if a buyer continually ducks us, continually lies or trashes the house because they're mad that they can't hold up on their end of the bargain then you can rest assured that we will stick that foreclosure on their ass as a warning to the next investor. Same with evictions. The power is in your hands. Whether you use it for good or evil is up to you. We like money, we're not heartless.
I do take advantage of the residential real estate market around the Houston area all the time.  However, prices have been stagnant for the last few years, and there's not much room for markup to make the same profits that I make in the Commercial arena.  Case in point.  I had a client that was leasing commercial space for his business, and he was looking for a property in a certain area of Houston to relocate for purchase.  I came across the perfect property for $1.5 million and turned around and sold it to him for $2.25 after making minor modifications based on his specs and requirements.  How many of those oil field properties would you have to sell at your inflated interest rates to make $750K? In most cases an average house in a middle class neighborhood will generate that same profit. Of course in that case it would take 50-60 years and require at least one foreclosure to happen. However,five or ten houses will get you there a lot quicker. Good money in commercial stuff too. I'm not saying saying there isn't. We deal in that too. My whole argument was based on mortgage houses making more money than rentals or quick flips in the long run.
We are able to allow people to refinance with another lender after a couple of years. Why? Because it allows us to re coup the money we sank into fixing up the house plus see a handsome profit on the sale price once we get that check from their new bank. We just flipped it. It's a win win for both and we can always get more houses. In this case it took 3 years instead of 3 months but it's higher gain. Plus it's just a damn good selling point.
You obviously don't understand the definition of diversification.  I started investing in foreign markets after making several trips down into those areas for vacations, and realized I was throwing thousands of dollars away in condo and hotel rentals.  So I picked up a few properties that I could use a couple weeks out of the year, then rent them out the remainder of the year to other individuals like myself that would prefer having a larger space with a full kitchen that costs the same or less than staying in some overpriced resort.  I started out with one or two, then realized the large revenue stream I could obtain having multiple properties.  As it stands, I take the revenues I get from renting the exiting properties and stick that in the bank.  Once I reach a certain profit level, I use that money to purchase another piece of property in the area.  Costs me literally nothing and is a low-risk investment.  So why wouldn't anyone familiar with the real estate business follow this model if it's pure profit and a constant revenue generator?
We are diversified as I said. Yep, sounds similar to what most people down here do with the vacation rentals out on the island. We came to corpus with an investor who purchased a motel and some condos in Port A. He's not doing as well as he'd hoped. We knew he was taking a huge risk to begin with financing his property. But he gave us a way to get down here and be able to work with the bigger investors. When the money is gone we'll be gone too. We have skills that are in high demand. I'm not worried. As long as we end up with a little property of our own one day and not have to struggle then we're happy. If owning a mansion or three on ocean drive means that I end up with no close friends or family in the end then maybe I don't need it. Not saying it ends up for everybody that way, of course.
The model works. Just need to adjust rates accordingly to the area. You'd be surprised at the types of people we could put right into your own neighborhood if we wanted to stretch their payments out over 50 years. Don't give us a reason and don't think that there aren't buyers out there dum enough to do it.

 

[darthtang aw]

There was no point in asking because it's irrelevant.  You say I won't answer your questions, when at the same time, you refuse to answer mine.  Instead you just skirt around the issue and deflect.
Of course it's not.  That's because the religious Right refuse to allow it come up to the Congressional floor for the debate.  The individual states refuse to allow the differentiation of whatever marriages an individual want to have.  When you have what is essentially segregation based on which State you live in, we look towards our Federal Govt. to make laws that apply to individuals no matter where they live in this country.  What if Colorado suddenly came up and said, "Since we don't allow same sex marriages, we also won't allow heterosexual marriages.  Want to get married?  Move to Texas."  As you stated, there's no Constitutional Law that states the legality of Marriage, so any state could do this.  Of course this would never happen because heterosexual marriages have always been the norm.  Now same-sex marriages are becoming the norm, so there's no reason not to allow them as well.  If it takes a Constitutional Amendment to change that mentality, so be it.
Then this not a right infringed by the federal government is it? This was your original point. Marriage is under state control. Always has been. In so e states a person can marry at 16 with parental consent. In other states they can not. Should the federal government weigh in on this form of segregation as well?