Underwater on my GM short call, but not worried about it now. This bounce, along w/ main market is to be expected, but short lived IMO.
There's no reason for GM not to go back under 10 w/in a month or so.
I can's start new threads in this blog (at least I don't think I can)? so we'll have to pretty much have one running thread w/ lots of comments for the rest of the afternoon!
how'd the house hunt go? Yeah, it's sad, but GM prolly will go back under 10. Good thing my 1971 Chevy C10 truck is still only going up in value. Hell, if GM somehow went under, my truck value would go through the roof!!!
i picked up some AUY @ 14.1
holding out on EGO for 7.82 may not happen, though. like i said, i'm buying my miners at Walmart today.
C10's are good trucks. If GM hadn't gotten so involved w/ financial arm and also become a lopsided SUV only company they'd be in a lot better shape. Def. goes to show you what happens when you get greedy - they can build good stuff when they want to.
EGO may tag 7.8's; I think anything under 8 is a buy.
you're in baltimore, right? i have a friend up there. i've considered the place myself. right now i have my eye on a property here in Charleston, but the purchasing power depends on QMNM...yikes.
wow, i can't believe baltimore has that sort of ratio going on...that people will pay $1400 rent on a house worth around $150k+. don't they know they are paying more than the mortgage???
What's happened is that there are a lot of 300k houses in the area (total rehabs) and a LOT of new construction from 500k-700k.
The market is saturated w/ builders who bought shells intending to fix them up but went broke and upside down on loans...shell prices have been halved and then some while house prices are actually pretty high still.
Basically, if you are willing to do the work yourself you can get a shell and redo it (I'm talking MAJOR overhaul) for say 50k and rent until the market overhead is relieved. The area I live in, Canton, is awesome - waterfront/ tons of bars and restaurants (basically turning into the Georgetown,DC of MD).
i don't own any property myself yet, but have done rehab work for years. while living out in Portland, OR, also custom interiors for bars and coffee shops. restoring an Airstream right now, but would like to get into some custom construction again for commercial and residential.
13 comments:
I'm back from looking at houses.
Underwater on my GM short call, but not worried about it now. This bounce, along w/ main market is to be expected, but short lived IMO.
There's no reason for GM not to go back under 10 w/in a month or so.
I can's start new threads in this blog (at least I don't think I can)? so we'll have to pretty much have one running thread w/ lots of comments for the rest of the afternoon!
how'd the house hunt go? Yeah, it's sad, but GM prolly will go back under 10. Good thing my 1971 Chevy C10 truck is still only going up in value. Hell, if GM somehow went under, my truck value would go through the roof!!!
i picked up some AUY @ 14.1
holding out on EGO for 7.82 may not happen, though. like i said, i'm buying my miners at Walmart today.
Nate - good buy w/ AUY.
C10's are good trucks. If GM hadn't gotten so involved w/ financial arm and also become a lopsided SUV only company they'd be in a lot better shape. Def. goes to show you what happens when you get greedy - they can build good stuff when they want to.
EGO may tag 7.8's; I think anything under 8 is a buy.
Oh - and house hunt went ok. Saw 4 properties; one possible candidate...gotta mull it over tonight.
I have really strict criteria for houses since I already have an exact short, mid, and longterm gameplan.
you're in baltimore, right? i have a friend up there. i've considered the place myself. right now i have my eye on a property here in Charleston, but the purchasing power depends on QMNM...yikes.
Yeah bud - I'm in Charm city itself.
I'm going to get into a place under 100k w/ 30-50k rehab expense (to make it really nice - I do the work).
Will easily rent for 1400-1600/ mo (2bed/2 full ba = 2 tenants), which is a 10% return. Cash flow is always good. Sq foot will be about 1500-1800.
wow, i can't believe baltimore has that sort of ratio going on...that people will pay $1400 rent on a house worth around $150k+. don't they know they are paying more than the mortgage???
What's happened is that there are a lot of 300k houses in the area (total rehabs) and a LOT of new construction from 500k-700k.
The market is saturated w/ builders who bought shells intending to fix them up but went broke and upside down on loans...shell prices have been halved and then some while house prices are actually pretty high still.
Basically, if you are willing to do the work yourself you can get a shell and redo it (I'm talking MAJOR overhaul) for say 50k and rent until the market overhead is relieved. The area I live in, Canton, is awesome - waterfront/ tons of bars and restaurants (basically turning into the Georgetown,DC of MD).
i don't own any property myself yet, but have done rehab work for years. while living out in Portland, OR, also custom interiors for bars and coffee shops. restoring an Airstream right now, but would like to get into some custom construction again for commercial and residential.
What's your e-mail Nate - I can send you some pics of stuff I've done...
You a carpenter by trade?
well, carpenter, but i also work a lot in metal, doing custom fab work. email is ndstephens@gmail.com
Best part of the day coming up.
If we rally into close my SKF 135 and 130 buys might get hit.
AUY also looking like a nice grab into the close.
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