RT has been without high speed internet at his house since Mon night when we lost power in a storm. RT has been hitting off of the neighbor's (the 5 ballerinas) wireless. RT called Time Warner Cable....immediately was greeted by "Due to the recent storms, many of our customers in Albany, Schenectady, and Saratoga are without internet". RT finally gets through and after being transferred 4 times, explains the situation. They inform RT that everyone in the neighborhood is up except RT and 3 other houses.

RT: 'great...when will you fix me?'
phone jockey: 'we'll have someone out there between 12-5 next Monday'. RT: (silent for a moment) 'that's the best you can do?...so this is how you roll??'
phone jockey: correct sir
RT: you mean that's the best you can do or 'that's how you roll?'
phone jockey: best we can do sir.....uh, so i guess that's how we roll

RT burst out laughing and thanked the phone jockey for making my day.

Quote from: Senor RedTackle on July 12, 2007, 08:53:56 AM

RT: you mean that's the best you can do or 'that's how you roll?'
phone jockey: best we can do sir.....uh, so i guess that's how we roll

RT burst out laughing and thanked the phone jockey for making my day.

That's funny RT...BOL!.

  Reg is setting down the real estate haterade for a while guys.  Sorry to any of you kats that Reg crapped on.


http://money.cnn.com/2007/07/05/real_estate/futureshock_Florida_housing_will_fall/index.htm?postversion=2007070611

LLPP Assignment, Thur 7/12:

Capitalizing on the success of last night's "that's how I roll" project with the significant others, members of LLPP must now use "that's how I roll" in a work situation today and recant the episode for everyone's enjoyment.

RT is leaving the house for a 1pm customer meeting so he will make sure to come back armed with a recap.

Quote from: Union89 on July 12, 2007, 08:49:59 AM
Anyone else bummed out 'Gro is now calling his abode a 'house'??

those that follow the LLPP know that 'gro resides in the thug mansion II**... situated in the hardest, roughest, subdivision in all of Hamilton County.


(**'gro makes no actual claims on being a thug or engaging in activities of a thugish nature, let's face it, the guy is all puppy dogs and ice cream... but hey, the government name rhymes with "thugs"... so he's been rolling with it since 1996)

Quote from: regulator on July 12, 2007, 08:47:49 AM
Native florida, I can see it now......a few palm trees, 120 degrees out @ 80% humidity and sipping a wonderful mojito in the pool.

I'll take that over native yankee:

Quote from: Tags on July 11, 2007, 10:14:24 PM
RT - outside of the 2 signatures on the Mortgage, kudos on the rental home strategy. I myself am scheming up a way to pull that off in the near future.

Robert Kiyosaki would be proud.

+k for the Rich Dad / Poor Dad author.  Great series of books. JT's are dog eared with notes in the margins.  He refers to them often.

RE:  Wilmington Blue Rocks per TDT...

Yeah, I'd totally catch a bunch of their games.  Unfortunately they are about 8 hours away in Wilmington, DELWARE!!!

RE:  Hurricanes

LD11 pays a hefty Insurance premium for hurrican insurance being that he is in hurricane alley.  However, LD11 feels the benefits of his location far outweigh the threat of hurricanes.  

RE:  Boston Real Estate(aka - 2 Million dollar appreciation in 20 years)

JU, the bottom line is, and I think Reg hit on it briefly, is that for that $2 million to mean anything, you have to move anyway.  Sure, you can sell a house fo $2 million, but then the next one costs you $2.5 million, unless you move somewhere else.  So what does it really matter?  Isn't it all relative if you are going to stay in the same area?  

RE:  New Real Estate

'Gro, LD11 feels your pain, probably 10 fold.  I know Chattanooga is becoming a hotbed for transplants, but any areas of woods and trees that were in Wilmington when LD11 moved here, are now Condo or Townhouse complexes.  Makes LD11s Townhouse stuck at a peak for a while.  But, rent prices here are on par with a city because there are so many college students, so worst case scenario, LD11 waits out the build and move, rents the place out for as many years as needed.

Quote from: Senor RedTackle on July 11, 2007, 10:24:48 PM
RT can't believe he didn't bring this one up....man, RT is slipping!!

So RT comes home last night around 9:30 pm after a beer w/ RT's boss. RT's boss left his car at RT's house so we both come back in the RTmobile. It's pretty dark out b/c we have a power outage from the excessive heat yesterday in the Albany area.

As we're standing in the driveway chatting, a car pulls up to the neighbor's house and a chic gets out. The neighbor house is a rental property with frequent turnover for the summer so RT and his boss say hello b/c the chic looked fairly good in the dark.

She proceeds to tell us she's with the NYC ballet and her and 5 other girls are renting the house for the next 3 weeks!!! (The NYC ballet performs in Saratoga every summer in July).  RT laughed outloud at the karma of the situation b/c FFMRT is leaving tomorrow out of the country on a work trip for.....THREE WEEKS!!!!!!!!! RT was standing there talking to Ashley (her name) trying to contain his laughter, thinking about the ironic post he'd be putting up on PP tonight (and what you'd all say...........)

Its like a double jointed soroity house.  Good luck and God speed RT.

Quote from: Tags on July 11, 2007, 10:25:03 PM

Quote from: Senor RedTackle on July 11, 2007, 10:20:05 PM
Tags,

RT recommends real estate, especially when the market has cooled. It wasn't RT's intention to be carrying 2 mortgages. RT loved his townhouse and planned on staying...but guess what?? FFMRT didn't like it, not enough room, etc....so RT had to go out and buy a new house for us and the dogs. RT decided to keep it and rent it since RT can break even w/ the rent and mortgage on it so RT figured he'd let it appreciate.

RT-

I'm trying to brush up for now, so I can have an intelligent conversation on it going forward. I'm only a young lad, just a few years removed from college so I need to be careful, but it's definitely what I'm aiming to do.

You really can't beat using the cashflow from the renters to pay off the mortgage for you. I presume the insurance & taxes still come out of pocket, but it would be worth it for someone else to pay the mortgage itself. I think it will be a buyers market for at least another year or so, unless the fed raises the rate.

Join your local real estate club.  Great place to learn. Guest speakers, courses, seminars etc.  Probably set you back about $100 or so for a year membership.

Quote from: The Great Pumpkin on July 11, 2007, 10:54:53 PM

Quote from: regulator on July 11, 2007, 10:41:41 PM
RT- Who takes the calls from your tenants at 2am when the heat doesn't work?  Who collects back rent when they haven't paid?  Who has to deal with the new carpeting every 2 years?

Be very careful if you guys think you can buy a duplex and nearly break even.  If that were the case, don't you think someone would just come around and use it as rental property?  

Good advice.  TGP and Mrs considering hanging onto duplex after buying our other place, but a close CBA (that's cost benefit analysis for you herbs), the profit margin was so thin, we didn't think it would be worth the schlep if we got a call at 5 PM to drive into LA during rush hour to deal with a clogged toilet or some other BS/

Try a management company.  They usually take 10% of rents.  Sometimes they don't do duplexes, but if there are some decent size apartment complexes in the area, they might take the xtra scratch on a nearby duplex.

Quote from: regulator on July 12, 2007, 07:42:08 AM

Quote from: Senor RedTackle on July 11, 2007, 11:20:55 PM

Quote from: Tags on July 11, 2007, 11:18:40 PM
Reg, you're a bit pessimistic this evening. I think I am the one driving the discussions (RE: wanting to break into real estate) - I'm well aware it's not easy, and that you should go into it with you're eyes open.

Perhaps you need:

you beat RT to the puch. Why is Reg so ornery about real estate tonite? Reg must be about to embark on his own real estate empire on I-90 between Roch and Alb and he is not taking well the possibility of amateur hour in his new venture

RT- It isn't the hate against your or your real estate cause.
Reg is SO SICK of hearing people talk about real estate around here.....here are the 3 situations that come up most frequently-

Oh man, I paid $170k for this place back in 2000 and it's worth $400k now-  Oh really dood?  First off noone is going to pay 400 for that caddyshack unless you dump at least 30k into it....then what?  What are you going to buy after that?  So your house may be worth 400, but it isn't getting you anywhere, so what does Reg care?

#2- if _____ can buy and sell a house in 6 months, then I certainly can-  Dood, that real estate opportunity came and went back in 2005.  If you were lucky enough to get out before then, some late comer was left holding the bag after the market slowed and inventory grew....You cannot do anything right now, people cannot sell houses.  Between 2002-2005 a monkey could have flipped a house....not so anymore.  In fact PapaReg sold most of his properties after 2005 because broke people trying to break into the NYC market couldn't afford the flipped houses and couldn't afford to compete with the NYC flippers to buy them, so that leaves Utica NY as the next hot spot, thus premium prices.  BOL!

#3- It is a buyers market.....yeah, so what?  Does that mean you go and pay $20-50 grand less for a house?  What is that in the long run, like 2 bucks a day?  Of course it's a buyers market where there are 4X the amount of houses on the market as people buying them.

#4- Sure Reg, I'm going to buy your boat I just have to wait for this real estate thing to come through (I have heard this a minimum of 3 times)  Dude, what real estate thing?  There is no real estate thing that is going to come through.  Unless some random person is going to knock on your door and offer you 2x what your house is worth, if they can have it today or you think there is money buried in the walls of your crummy townhouse, then you are actually broke and use the term "waiting for a real estate thing to come through" in order to avoid reality.

While real estate investor pro's (JT's not one yet) can make money in any market,  Reg is right on with these people that watch flip this house, and then run out and start buying junkers.

WOW - 10 pages overnight...thats November form.  Nice work fellas.

Just got caught up.  While the Real Estate discussion is over my head and boring...gotta love it 'cause there isn't too much you can't learn about on LLPP.

Tags - love the John Deere "Thats How I Roll"  Nice work, +K.

Realistic's own "Thats How I Roll" story is kindof lame, but I will recant it anyway.  Nice MR at home so I was out of luck last night.  Subway this morning, I woman with a walking cast got one, Realistic offered his seat, she smiled and thanked Realistic...realistic replied "Thats just how I roll".  It got a funny look but smile continued.

Quote from: realistic on July 12, 2007, 10:37:15 AM
WOW - 10 pages overnight...thats November form.  Nice work fellas.

Just got caught up.  While the Real Estate discussion is over my head and boring...gotta love it 'cause there isn't too much you can't learn about on LLPP.

Tags - love the John Deere "Thats How I Roll"  Nice work, +K.

Realistic's own "Thats How I Roll" story is kindof lame, but I will recant it anyway.  Nice MR at home so I was out of luck last night.  Subway this morning, I woman with a walking cast got one, Realistic offered his seat, she smiled and thanked Realistic...realistic replied "Thats just how I roll".  It got a funny look but smile continued.

+1 to realistic for rolling w/ the handicapped

It looks like a new mantastic show on TLC.

Quote from: LewDogg11 on July 12, 2007, 09:42:27 AM

RE:  Boston Real Estate(aka - 2 Million dollar appreciation in 20 years)

JU, the bottom line is, and I think Reg hit on it briefly, is that for that $2 million to mean anything, you have to move anyway.  Sure, you can sell a house fo $2 million, but then the next one costs you $2.5 million, unless you move somewhere else.  So what does it really matter?  Isn't it all relative if you are going to stay in the same area?  

Yea but I was talking in terms of rental properties (buying a few places and renting them).  So in 20 years when that 250K place you bought is rented out its going to be paying for itself.  

And now you are getting people paying rent on a 2 million place in Boston (10K a month) rather then renting out the 500K place in the South for 2.5K a month (or maybe less seeing Boston is a huge rental market).  So its the cash thats comming in that makes it better to invest in.