01-15-2007, 05:24 AM
quote:
I'm not gonna play "Captain save a ho" but damn everytime Rabi puts anything out on this board he has to take pot shots from people who are in the same game that he's in, except he seems to be making money at it and they are just talking. I like Rabi's style of putting his money where his mouth is, you cant say thats not true. I swear this is all just jealousy because it's his turn to make money and the nay sayers are on the side lines "hating" on Rabi because he's in "The Game" and scoring "points". Dont be mad at Rabi...dont be jealous...be happy for him.
If you want to be a "player" make a move, but dont sit back and talk crap about a man who's a mover, a shaker and a big time deal maker. If he bust then damn,,oh well,,,he took a shot at it. He's at the table rolling the dice and your sitting back cliping internet articles to prove Rabi's not making money. Think about it,,,realllll hard.
Congratulations John,
Nate
Nate, the problem is that the real estate market became like the stock market of 2000 when waiters, cab drivers and other "experts" started buying stocks without knowing what they were doing. Lots of people were doing the same thing with real estate too, many without having real financial backings. (Remember the "creative mortgages?"
Smart real estate investors have Plan A, Plan B and sometimes even Plan C. Lets assume I bought a lot in LE at the top of the market for $70K and the same lot is $40K now. I lost $30K, right? Well, I didn't. Plan B is to put a Trojan Plantation III 3BD/2BA+Garage house on it for $170K, my total cost is $240K. A similar new house is around $300K there now, so I can still make $60K gross. Plan C?! If I financed the whole house my mortgage is around $1,100 and I can rent out a house like that for that amount fairly easily. Somebody else will be paying my mortgage that I can even write off from my taxes. I could give you other examples, but free lessons don't come around often!
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185