Your posts are amusing, Irv, but you really should get out and read the Wall Street Journal once in a while. Many billionaire investors will show you exactly what they're investing in, like Warren Buffett and Carl Icahn, to name two. Their positions in public companies are large enough they have to list them. You can invest just like Buffett every quarter. That's a pretty conservative strategy, but if you want to be mindless about it the strategy basically works. Not everyone needs to do option trading.
You're right about real estate not being for everyone, especially being a landlord. A couple of eviction stories, a trashing the place story, or perhaps finding the renter turned your rental into a meth lab is all it takes to make some folks (like me) consider the financial markets. I'm glad to hear it's worked for you. I work with a few folks who moonlight as landlords; I just can't, I don't have the temperament for it.
Oh c'mon Irv, Your not that easy... First, Warren buffet? seriously, did we just compare anyone we know with WB, be serious, I am not talking about the richest people in the world getting richer, I am talking about a guy with a little money {20K} a little know how, and a little credit being able to be a milliionaire in his life time, WTF is wrong with you guys?
Now eviction stories, meth labs, you need to listen to more music and less TV, I don't know where you live, but not many meth labs in my backyard. I didn't say to buy $1 houses in a ghetto, and we have this little thing called INSURANCE, if the apartment gets destroyed, the insurance co pays you for it, I have been doing it a while and have very few {1} incidents of someone being malicious and damaging property, and my insurance company paid $17K for something that cost me $4K to fix, so I wish all my tenants would break a few windows and leave the tub running, lol...
You are comparing the most intelligent investment minds in the world when it comes to investing, with the most remedial backwards rental situations, do you seriously think I am in the third grade here?
I am just giving my opinion, I just want everyone to do well, if 1 person says, WOW Irv is young and did well, there may be something to this, looks into it and has a little easier life because of it, that would be awesome... I don't hear anyone in here saying they can retire at 39 because of the stock market!!! I am sure there are people out there, but out of everyone that has posted or read this thread there isn't one!! I am 34 and can stop working 6 months ago and never work again, because of real estate and being a "landlord", lol I have tenants for almost a year before I talk to them, some I may never talk to, I have an property manager to take care of it, sure I used to do it all myself and still get involve when I feel like it but if there was something I said in the time we have known each other on this board that made you think I would not be smart enough to know the difference between someone that is going to be cooking meth in my apartment and not, then I apologize...
Please don't misunderstand me guys, and please because it may be something you will never do don't down play the potential in my plan, I admit you can make 6% or maybe even double that {rare} in the market, but don't for a second think its easy, and don't for a second think that there is less risk than realestate, in this market. I almost want to buy one I have my eye on to post the progress here but I promised my wife no more for a while, the house is $63K duplex in a real nice area, that I would spend about $15K fixing up to my rental standard {livable as is, but I make sure they are high end, thats how I get the good rents}, the place is worth $1500 for first floor and $1250 for second, that $2750 a month the taxes ate $4300 a year, insurance would be $1100, building will pay for itself in 3 YEARS!!! and will be worth $180K by then!!!! So go ahead, look into the stock market and show me where I can put $80K and in 3 years have my $80 back and $180K on top of it!!!! Start looking, let me know when you come up with something, if you can do it, and have the collateral to cover my losses I'll have it drawn up and invest the $80, in 3 years I will let you keep anything over $150K and my money back, so in 2 years turn 80 into $230K...... It is impossible... You will be best case around $96500, that is $16K profit in 3 years. NO THANK YOU SIR, you guys that don't think it will work must be much smarter than my online banking staements because they show a different story...
As far as the renting nightmares, sure they happen, but show me one person that lost everything because someone had a meth lab in their apartment, it is BS, Ill do a google search and in .0019 seconds show you a hundred people who lost everything in the stock market...
PS please don't take this as a personal argument, I in no way mean it that way, if we were in person, I would be preaching the same story, I have had this conversation with others, I am in a position where I hear all kinds of pitches, I can invest here, and there, and 20% here, ect.. You think I never heard someone say, "start me off small, give me $40K and let me show you what I can do" and I reply "well tell me the best case" and you know what they say? The best I ever heard was 28%!!!! I will make 115%, Ill have turned $50K into $200K in 3 years before, and that was for my sister, she cashed out her 401K that she lost $22K in {yah do the math on that}, and in 3 years she had her $50K back and owned a house worth $200K, she is a very simple person with a good job, and she sold the house to one of the tenants for $214 {I brokered it so no re fees} admittingly I did a lot of the work for her, but from my help she only saved around $20K.... Still not bad profit...
Again, I apologize if I offended anyone, I am just giving my advice from my experience, I don't really care what you do with your money, use it to light cheap cigars in front of pretty girls for all I care,
.... I like you all, I just try to share, Im young dumb and thick headed, what do I know, I am watching "overboard" {that I picked on demand} at 10-30 at night, icing a shoulder that I am not supposed to be moving after 62- 315lb lat presses... I wouldn't listen to me either, but "me" are the only voices in my head, except that other one....
