[overcoil]

Originally Posted by David70

So this is gambling money not long term investment money, now I understand completely, and yes I agree, your strategy is better than betting on football or the slots but you forgot to point this part out and I thought we were talking about an investment strategy.

I was assuming you were successful to the point of turning a small amount of money into a lot.

Well I do think that if someone is young that with what I describe there is a chance of having significant gains.
I also think a steady job and good work ethic are important.

I also think a major part of investment strategy is the small but many investments you make when your young.

[overcoil]

Originally Posted by David70

Assuming with your great results you have quit your day job and are now just trading stocks? Or opened an investment firm so you can also add other peoples money into the mix?

Self-employed and depend and invest primarily in stocks, I'm not married so I don't have those responsibilities, no college funds, life or workers comp ins.
A girlfriend who probably spends more money on makeup and clothes then I approve , but she is self employed also.
And I spend a lot of time taking care of older family members.

As for investing for other people. I don't have nor would I want the fiduciary responsibility of investing for other people. Though I do like to discuss stocks and am wiling to name stocks I like.

[BayMoWe335]

Originally Posted by ScottSinger

Is PRTA shit ? In the past year went from 17.00 to 75.00
LINC tripled in that time frame.

If your an old man who was getting a bi-weekly pay check and need to be conservative so you don't wind up in assisted living then crawl on down to your Fidelity agent and have some free coffee.

My apologies.

[overcoil]

Really:
Went to Wharton
Own more Apple stock then my net worth

Are you a drunk to pull those lines on me?

I was clear with dollar amount to learn how online brokers work, I was clear with minimizing risk and importance of steady income.

Was it when I said fiduciary responsibility you got angry?

Photobucket isn't working now, because I wanted to post a ACCOUNT MARKET VALUE statement that sitting on my desk now, but would have been foolish to stoop down to that level.

There's a good book titled 'POUND FOOLISH Exposing the Dark Side of the Personal Finance Industry' by Helaine Olen. To say "I own more Apple stock then your net worth" - that's the dark side, that is some classless mouthing off.

I reiterate what I said. If your young, open an online brokerage account, open a TurboTax account.

And I have no qualms about naming stocks, it's how you learn and get ideas.
I also am extremely careful or watchful about fees charged by the financial industry. I wasn't sitting here saying how wealthy I am or how to make $250,000 in three months. I have about three post on this thread and it's conservative advice for a young person just starting out.

Another tidbit about investing and this is important. At some point in your life you may decide to get a financial advisor. And they'll tell you they went to Wharton. And you be sitting thinking they're a graduate of the University of Penn Wharton School of Business and they graduated at the age of 22.
You know the NFL sends players to Wharton for a seminar on how not to be a dumbass, and they have these EXecutuve programs for peeps in the business to enhance resumes. I don't know about our guy above - but there's usually a more mundane backstory.

Finally, one of the books recommended in my response early on was by Bogel founder of Vanguard.

[JohnnyCanuck]

To be fair, there is value in most of the suggestions on this thread, but all in moderation.

To be actively involved in a high volume of trades on short term investments and do it properly is time intensive and certainly not something that I can do when my work ramps up. That's a combination of both time and the intense mental focus that I need to have at certain times. So, while I do play around with some riskier venture like investments, I do not risk any of what I consider my core assets and I wouldn't suggest anyone else do it.

There are much less time intensive and safer ways to build wealth through sound investment strategy. It might not offer the quick gains that ScottSinger suggests are available, but are consistent with my longer term goals.

[overcoil]

Originally Posted by JohnnyCanuck

To be fair, there is value in most of the suggestions on this thread, but all in moderation.

To be actively involved in a high volume of trades on short term investments and do it properly is time intensive and certainly not something that I can do when my work ramps up. That's a combination of both time and the intense mental focus that I need to have at certain times. So, while I do play around with some riskier venture like investments, I do not risk any of what I consider my core assets and I wouldn't suggest anyone else do it.

There are much less time intensive and safer ways to build wealth through sound investment strategy. It might not offer the quick gains that ScottSinger suggests are available, but are consistent with my longer term goals.

Like to point out that in my early post the suggested references were books that are very respected and about not being too foolish.
I do think the process of opening up an online account, picking and buying stocks is a supreme way to learn how that aspect of the investment game works.
I'd rather see a young guy invest in a company he likes, either have gains or loses, receive proxy material and learn.
As time progresses then so will knowledge, gaining fundamental knowledge is important.

[Jhanksm3]

good info

[BayMoWe335]

Originally Posted by ScottSinger

Really:
Went to Wharton
Own more Apple stock then my net worth

Are you a drunk to pull those lines on me?

I was clear with dollar amount to learn how online brokers work, I was clear with minimizing risk and importance of steady income.

Was it when I said fiduciary responsibility you got angry?

Photobucket isn't working now, because I wanted to post a ACCOUNT MARKET VALUE statement that sitting on my desk now, but would have been foolish to stoop down to that level.

There's a good book titled 'POUND FOOLISH Exposing the Dark Side of the Personal Finance Industry' by Helaine Olen. To say "I own more Apple stock then your net worth" - that's the dark side, that is some classless mouthing off.

I reiterate what I said. If your young, open an online brokerage account, open a TurboTax account.

And I have no qualms about naming stocks, it's how you learn and get ideas.
I also am extremely careful or watchful about fees charged by the financial industry. I wasn't sitting here saying how wealthy I am or how to make $250,000 in three months. I have about three post on this thread and it's conservative advice for a young person just starting out.

Another tidbit about investing and this is important. At some point in your life you may decide to get a financial advisor. And they'll tell you they went to Wharton. And you be sitting thinking they're a graduate of the University of Penn Wharton School of Business and they graduated at the age of 22.
You know the NFL sends players to Wharton for a seminar on how not to be a dumbass, and they have these EXecutuve programs for peeps in the business to enhance resumes. I don't know about our guy above - but there's usually a more mundane backstory.

Finally, one of the books recommended in my response early on was by Bogel founder of Vanguard.

You're right. My apologies.

[overcoil]

i wanted to point out something, a few people correctly or incorrectly admonished my advice - and that's important because you should be skeptical what you read on a blog... and the dumbest thing I myself could do is say I'm right and someone else is wrong. Also I lost my temper on an earlier post and I feel bad, I really am sorry for what I insinuated.

But I wanted to bring out a point.
I said be careful about buying or selling on Friday.

Today is a good example, the FBI came out about Clinton e-mails and stocks slipped. Often news comes out late on Friday that can have consequences.

[mantis]

Originally Posted by ScottSinger

i wanted to point out something, a few people correctly or incorrectly admonished my advice - and that's important because you should be skeptical what you read on a blog... and the dumbest thing I myself could do is say I'm right and someone else is wrong. Also I lost my temper on an earlier post and I feel bad, I really am sorry for what I insinuated.

But I wanted to bring out a point.
I said be careful about buying or selling on Friday.

Today is a good example, the FBI came out about Clinton e-mails and stocks slipped. Often news comes out late on Friday that can have consequences.

did you see along with clinton fbi thing, also amazon took its season slip early this year due to the 3rd quarter announcements, jeff loves to spend spend. but he always has a plan, he has alibaba chasing him now also doing movie productions, todays 42 dollar slide is just what i said to look for for entry to amazon.

818 down to 776 and due to go back up to 925 after febuary

[Alvinized52]

Originally Posted by roastbeef

i'm a real estate guy. i don't sell it and neither does my family. one thing i noticed growing up, a solid percent of rich/wealthy people have a strong foundation in real estate. i educated myself on the internet and simply watched the market. i saved for an opportunity and jumped on it when it presented its self. i own my primary residence and two rentals. i bought one in 2012 and the other in 2015. i'm only netting about $400 after all my costs/taxes/insurance/etc., but they have appreciated well and will be paid for by the time i retire (i'm 29 now) and will bring in over $3k by that time as well.
it is minimal work for the return, but you must have a long-term vision. some people will think you are wealthy now, but its the opposite, i have to more carefully watch my money because i now have tenants that rely on me. i plan on buying more, but the market is crap right now. whatever you do- educate yourself on it, save money, and strike when the opportunity you've educated yourself on presents its self. there is no such thing as luck, just preparation, presentation, and execution. start preparing!

Originally Posted by Zugzwang

Buy a house. Rent it out. Let the renters pay the mortgage. Save for house number two. Do the same. House three. House four. By then you will be close to 40 and equity ritch. It's a old old tried tested and true method. Kinda like the tortoise and the hare story.

Yep! First thing i did was to skip 401K/IRA... but instead save enough money for downpayment on my first house. With equity built up after a couple of years, I pulled some money out to buy second house... rented out my first house and got positive income. With more creative financing and savings, Ive been able purchase 5 more rental properties within the next 6yrs thats been generating me substantial passive income... the income i receive from those is then diversified into various stocks and mutual funds, retirement SEP IRA, and some biz ventures while I wait for the next real estate cycle to buy more properties. My goal is to be able to retire before im 50... or atleast have the "option" to say I can retire any time after that.

[roastbeef]

Originally Posted by Alvinized52

Yep! First thing i did was to skip 401K/IRA... but instead save enough money for downpayment on my first house. With equity built up after a couple of years, I pulled some money out to buy second house... rented out my first house and got positive income. With more creative financing and savings, Ive been able purchase 5 more rental properties within the next 6yrs thats been generating me substantial passive income... the income i receive from those is then diversified into various stocks and mutual funds, retirement SEP IRA, and some biz ventures while I wait for the next real estate cycle to buy more properties. My goal is to be able to retire before im 50... or atleast have the "option" to say I can retire any time after that.

thats sort of the path i took. i bought my first house at 23 (3.5% down FHA loan), rented two rooms, saved that income and then some, bought my first rental at 25 with about $32k down (25%). first rental almost doubled in value and another unit came up for sale at a reasonable cost, so i did a cash-out refi with the first rental and picked up the second rental. they were both so cheap that i have always had positive income. since then, shit has gone up and i find myself hoping for another crash or huge market correction. its a weird thing to say. ended up doing a 20 year refi and dropping my PMI, shaving a few years off the loan, and keeping the same payment.

since i started tracking my car, i'm finding it harder to save money... but i don't ignore the important stuff- i still max out a roth ira every year and put 15% of my gross income into a 457b plan.

saving money is like digging in the sand with a nail. losing money is like pouring water into the same sand.

[Alvinized52]

Originally Posted by roastbeef

thats sort of the path i took. i bought my first house at 23 (3.5% down FHA loan), rented two rooms, saved that income and then some, bought my first rental at 25 with about $32k down (25%). first rental almost doubled in value and another unit came up for sale at a reasonable cost, so i did a cash-out refi with the first rental and picked up the second rental. they were both so cheap that i have always had positive income. since then, shit has gone up and i find myself hoping for another crash or huge market correction. its a weird thing to say. ended up doing a 20 year refi and dropping my PMI, shaving a few years off the loan, and keeping the same payment.

since i started tracking my car, i'm finding it harder to save money... but i don't ignore the important stuff- i still max out a roth ira every year and put 15% of my gross income into a 457b plan.

saving money is like digging in the sand with a nail. losing money is like pouring water into the same sand.

Yep! SoCal is in a real estate bubble right now. Good time to sell a property, terrible time to buy here in SoCal tho... prices are outrageous! After the election, interest is likely gonna go up... maybe even as early as next year. This means more housing inventory and price drops... more REOs hopefully. Time to get ready for that next wave.

On A Side note, i dont personally believe in 15 or 20yr mortgages...or paying off my houses unless I plan to live in it forever. Reason is I'm likely going to sell or tap my properties at some point when equity is built up before i ever completely pay them off. Liquid Cash is king for me... to help build my RE empire. Its the equity potential gain over time is what matters to me. Lower payments will just help save faster. In fact I wouldnt mine a 50yr mortgage with low monthly payment if it exists... That would be my dream loan as an investor.

[roastbeef]

Originally Posted by Alvinized52

Yep! SoCal is in a real estate bubble right now. Good time to sell a property, terrible time to buy here in SoCal tho... prices are outrageous! After the election, interest is likely gonna go up... maybe even as early as next year. This means more housing inventory and price drops... more REOs hopefully. Time to get ready for that next wave.

On A Side note, i dont personally believe in 15 or 20yr mortgages...or paying off my houses unless I plan to live in it forever. Reason is I'm likely going to sell or tap my properties at some point when equity is built up before i ever completely pay them off. Liquid Cash is king for me... to help build my RE empire. Its the equity potential gain over time is what matters to me. Lower payments will just help save faster. In fact I wouldnt mine a 50yr mortgage with low monthly payment if it exists... That would be my dream loan as an investor.

I understand that mindset, but eventually my current residence is going to be a rental.
Ideally, I'll buy my "forever" home in about 15 years. All the rentals will be paying for it and then some. Retirement plans will pay for toys. I don't think I'll ever sell unless it's a problem property or something.

[CANGRKE70]

My Canadian Medical Marijuana stocks have been doing quite well recently.

APHRIA INC - APH- AVG Cost - $1.43 Now Trading at $3.69
CANOPY GROWTH CORP - CGC - AVG Cost - $3.46 Now Trading at $6.41

These have helped my portfolio greatly, but diversification in Gold, Forex, Real Estate and Stocks have let me sleep soundly during troubling times.

[JohnnyCanuck]

Originally Posted by Zugzwang

^ what he said.

I know many happy people that went this route. I'm 40 and mortgage free because of this method.

In Vancouver? The only way to do that is with the help of family given real estate prices here. Not all of us have that luxury. It's good advice if the OP actually lives in a real estate market that provides that opportunity, but it's not a reasonable wealth accumulation strategy when you need 20% down for investment properties and even a studio apartment cost $400K these days.

[CANGRKE70]

Originally Posted by JohnnyCanuck

In Vancouver? The only way to do that is with the help of family given real estate prices here. Not all of us have that luxury. It's good advice if the OP actually lives in a real estate market that provides that opportunity, but it's not a reasonable wealth accumulation strategy when you need 20% down for investment properties and even a studio apartment cost $400K these days.

How are things going now that you have the foreign investment tax? Have prices seemed to stabilize? It has had an impact on Toronto as foreign investors are snatching up property here now as well. I'm glad I got in the market 7 years ago when things were affordable.

[JohnnyCanuck]

Originally Posted by CANGRKE70

How are things going now that you have the foreign investment tax? Have prices seemed to stabilize? It has had an impact on Toronto as foreign investors are snatching up property here now as well. I'm glad I got in the market 7 years ago when things were affordable.

Prices have stabilized and sales have slowed, but it's still pretty outrageous if you're trying to get into the market. Basically, prices are 30% higher than they were 18 months ago and that was pretty expensive. We bought our current home about 2 years ago for $644/sq. ft. and now it's worth $1000 per square. The pre-completion we bought last year for investment purposes for $782/sq. ft. is worth about $975 per square.

I'm with you on getting into the market as early as possible. Both my wife and I were already in the market when we met and that original equity has served us very well.

[BayMoWe335]

Originally Posted by CANGRKE70

My Canadian Medical Marijuana stocks have been doing quite well recently.

APHRIA INC - APH- AVG Cost - $1.43 Now Trading at $3.69
CANOPY GROWTH CORP - CGC - AVG Cost - $3.46 Now Trading at $6.41

These have helped my portfolio greatly, but diversification in Gold, Forex, Real Estate and Stocks have let me sleep soundly during troubling times.

How many shares of each?

[CANGRKE70]

Originally Posted by BayMoWe335

How many shares of each?

Enough

[BayMoWe335]

Originally Posted by CANGRKE70

Enough

I bet.

[JohnnyCanuck]

Originally Posted by Zugzwang

In 2000 a studio apartment in downtown Vancouver was not $400k. Far far from it. In those days 400k would get you a quarter acre and 3000+ sqft of house on pandora street in Burnaby. You can't call me out by putting today's prices on properties that were selling at the turn of the century. That's bad math.

So long as the rent pays the mortgage the strategy works. It works even better in cities that aren't ballooned in prices by foreign investment.

I know how to plumb. Frame. Install tape and mud drywall . I can install hardwood flooring and I'm a fast painter. From my second house on they all got new kitchens and bathrooms flooring and paint and I never borrowed a penny from anybody other than from a bank.

I will agree that if you are starting out you will not be buying a detached house in Vancouver. Or Burnaby. Or coquitlam. Or richmond. Heck I'm not even interested in buying there. But even now one can see old houses bought and demolished in favour of some giant monstrosity. A first time home buyer out there is stuck with condos and apartments today. Or if they want a house they are going to aldergrove or mission or Abbotsford. But here is the thing... Even a condo can get flipped for profit once it gets a splash of paint and a new kitchen. Even a condo will collect a high rent in a city with a .6 vacancy rate. If one knows how to hunt and negotiate an ok price can be found even today.

Is the first time home buyers credit still out there? I believe that allowed a first timer 5% for down payment. Mind you the rules have been changing lately and I haven't paid much attention to them.

I mean if you are looking for advice for the lower mainland I can point you in a few directions if you are trying to get started.

Fair enough, I was just trying to highlight that the advice is contingent upon certain economic variables including the cost of real estate and the various lending/regulatory rules.

I too was in the market before pure insanity set in and we own both our home and investment property so I do see merit in it ... just wanted to inject some caution.