Comments on: Reviewing Some Basics — Some Real Estate Investment Terms — What’s He Mean, Gross?

By: BawldGuy

BawldGuy — Tue, 11 Dec 2007 18:32:04 +0000

Readers — If you haven’t read Kansas City Investment Property — give it a try. I read it daily.

By: Blog Posts Worth Reading « Kansas City Investment Property

Blog Posts Worth Reading « Kansas City Investment Property — Tue, 11 Dec 2007 18:22:35 +0000

[...] Reviewing Some Basics – Some Real Estate Investment Terms – What’s He Mean, Gross? - Jeff Brown brings us this reminder that it takes a while to know it all. And even then you need a refresher. [...]

By: It’s Been Done Before - Do The Same Thing | Mortgage Industry Blog

It’s Been Done Before - Do The Same Thing | Mortgage Industry Blog — Mon, 10 Dec 2007 18:56:45 +0000

[...] Yet, he has made me a ton of money. Of this I’m sure. So I wrote the article (see link above) and then went to work. A few minutes ago I read Jeff Brown’s blog and what do you know? He had written a blog about being humble enough to learn. How ironic. [...]

By: BawldGuy

BawldGuy — Mon, 10 Dec 2007 18:46:42 +0000

Chris — Now don’t go bringin’ God into it.

>I do like the “times gross” as a quick way to see if it’s worth my time to look at. But that’s all it is.

At best.

By: Chris Lengquist

Chris Lengquist — Mon, 10 Dec 2007 18:42:17 +0000

I swear to God above I hadn’t read this when I wrote my blog today.

I do like the “times gross” as a quick way to see if it’s worth my time to look at. But that’s all it is.

By: Uncle Jack (Jack LeVine)

Uncle Jack (Jack LeVine) — Sun, 09 Dec 2007 19:11:35 +0000

guess we’re both sitting at our computers this fine Sunday Morning.

You’re right about the amateurs. We (the RE community) were so giddy with the explosion of business, that we acquired about 10,000 amateur realtors, all of whom knew someone or 10 somewhere that was willing to mortgage their home to “invest” in Las Vegas. Of course, they’re all the same ones in foreclosure, or already lost their “investments”.

But I do have lots of clients who own way too many homes that they’ve owned for many years, with way too much equity in them. That’s why I’m studying every word you write. Thank you.

By: BawldGuy

BawldGuy — Sun, 09 Dec 2007 18:58:46 +0000

Jack — I agree, and you’ve helped make my point.

Vegas acts, historically, more like the commodities market than a real estate market. Sure, more jobs are created. However, the poor investor must be able to time his movements in and out of Vegas perfectly. If not, he’s face down in the water.

Building(s) blown up — 1,000′s of jobs lost. Stable, long term jobs. Then the market is flooded with highly paid construction workers who create a short term false economy.

Amateurs then get excited and flood in.

The long term outlook for Vegas may indeed be changing, maybe even going through a paradigm change, demographically speaking.

Until that change is at least rooted well enough not to blow away in the next development ‘wind’, I’ll stay on the sidelines.

I hope you’re right long term.

By: Uncle Jack (Jack LeVine)

Uncle Jack (Jack LeVine) — Sun, 09 Dec 2007 18:49:54 +0000

actually, I’ve always focused on owner occupied clients. now with prices of all the foreclosures giving up around 30% of the 2005 highs, and rents rising, it’s starting to look like you can at least cash flow some of the homes now.

And when they blow up an old hotel (as much as it breaks my heart from the historic preservation angle) it creates 3 times as many jobs for the replacement hotel as it did for the old one.

Meanwhile, they’re predicting a shortage of 20,000 good paying jobs in the next 3 years while 15 BILLION of development that’s already under construction comes on line.

The demographics, influx of new residents and everything else hasn’t changed. Don’t rule out Vegas entirely.

By: BawldGuy

BawldGuy — Sun, 09 Dec 2007 06:17:54 +0000

I know what you mean, Jack.

I’ve had a fence around Vegas for over 20 years.

Anywhere one guy can wake up and have an ‘idea’ at breakfast, and be on the 11 o’clock news blowing up a 30 story hotel/casino, along with it’s gazillion jobs — I’m out.

By: Jack LeVine

Jack LeVine — Sun, 09 Dec 2007 05:09:12 +0000

It took me years to get all the terms straight. We never stop learning, and your logic is dead on.
Everyone in Vegas (who already owned something, or was buying something in 2005) were caught in the fantasy that Vegas prices would catch up to SD. New lessons every day!

Reading you daily now makes me realize I’m not doing enough on http://www.veryvintagevegas.com to tell my clients about exchanges. Thanks for the kick in the butt.