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]]> http://baglady.dreamhosters.com/2010/02/01/how-fast-is-time-passing-for-you/feed/ 1 Online viagra canada » Canadian Pharmacy Online - Internet Drugstore - Buy Canadian drugs online! http://baglady.dreamhosters.com/2009/12/04/do-investment-properties-make-sense-to-buy-now/ http://baglady.dreamhosters.com/2009/12/04/do-investment-properties-make-sense-to-buy-now/#comments Fri, 04 Dec 2009 10:22:40 +0000 admin http://baglady.dreamhosters.com/?p=492 In the past couple months a couple of my family members have been making offers on bank owned properties as investments.  Without going into too much detail, they are buying properties with positive cash flow when rented out.   It is harder than it looks, and there are good deals out there.  However, here are some of my thoughts as to why I would not be investing in a rental property.

First of all, it takes a lot of time and energy to find a suitable property that has positive cash flow.  My hubby and I just don’t have the time  or drive to go house hunting right now with a new baby.  My hubby simply thinks it is too much trouble.  When we bought our house from his parents all he did was sign the final mortgage papers, and he thought that was too much trouble.  I cannot imagine how annoyed he would be if we actually went on a house hunt and attended endless open houses.   I am actually glad that we purchased the house he grew up in because that saved us a ton of time and gas  in choosing a house  (and probably saved us some  arguments since I have seen how my parents bought their houses).  Since our assets are combined, there is no point in investing in something that the hubby does not want to deal with.

Second,    it takes quite a bit of cash to buy investment properties these days.  We have very good credit, but there is little chance that we will beat out investors with full cash offers.  I just don’t feel comfortable putting so much cash into a rental property because that would make our investments too heavy on real estate.    It is never good to put all your eggs into one basket.

Basically, we are not really in a very good position  to buy rental property now, but for some people that have a lot of time and money on their hands there are good deals out there since the real estate market tanked so much.  I think these opportunities will stick around for at least a couple more years.   The rental market has gone down in general, but many people are moving out of apartments and moving into single family homes because the rent price on single family homes have gone down.  There are also a lot of people who were foreclosed on renting now, so it is still possible to rent out a property.  The key is to do your research and find something with a positive rate of return, and don’t overextend yourself with too much financing.

Anyway,  I don’t think my husband and I like being landlords because it involves collecting money from real people.  It is great when you have a good, long term tenant, but when you .   It is much easier to just collect interest from a bond or CD because it is a lot less personal.   When you buy stocks and mutual funds you could lose money, but at least you won’t lose your life and your car won’t get keyed.  Actual human beings  are just too unpredictable of an investment.

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Online viagra canada » Canadian Pharmacy Online - Internet Drugstore - Buy Canadian drugs online! http://baglady.dreamhosters.com/2009/07/22/is-it-possible-to-quit-using-money-all-together/ http://baglady.dreamhosters.com/2009/07/22/is-it-possible-to-quit-using-money-all-together/#comments Wed, 22 Jul 2009 09:29:31 +0000 admin http://baglady.dreamhosters.com/2009/07/22/is-it-possible-to-quit-using-money-all-together/ I love reading stories about real people, and today I read this story about nine years ago.    He  does live in a cave, and his lifestyle does seem somewhat crazy by the norms of society, but some of the things he believes about money are things I have noticed or thought about before.

he makes a point that money is imaginary, and that the power of money only becomes real if both the creditor and the debtor both believe in it.  The example he uses is that if you give a bushman in the jungle some German marks then it is nothing but colored paper to the bushman.  That money has no meaning to the bushman.  This is definitely true when you think about it.  Why is the United States able to literally summon trillions of dollars out of thin air?  It is because the United States’ creditors have faith in the word of the U.S. government.  Why did California have to cut spending?  It is because creditors no longer believed in California.   Money is only real because people believe in the system and participate in it.  If you bestow an account with a trillion dollars to an extraterrestrial who places no value in it then it is meaningless to that alien.

Another point on Suelo’s site is that in reality goods and services can be exchanged without money.  One example he had was of a German woman named Heidemarie Schwermer who has lived without money for about 12 years.  She does this by bartering within exchange circles and she is the subject of an upcoming documentary appropriately titled  .  This is not a new idea since people have been exchanging goods and services for thousands of years.  Money just became a global system of accounting that made these exchanges less personal.  It is certainly more efficient to swipe a credit card to buy a sack of rice rather than trading a bag of almonds or something else.  However, for those without money it may make more sense to barter.

Finally, another thing that made Suelo swear off money is the recurring theme of “mo’ money, mo’ problems”.  The example he gave was that when he worked with Ecuadorean tribespeople he saw how money made them buy useless things.  The tribespeople also became less healthy as they spent more because they started to buy things like soda, MSG, and refined sugar.   Suelo said that he charted their development and “it looked like money was impoverishing them”.  I have certainly seen how money could impoverish people.  Some people forget the real things in their lives such as family and friends and pursue money relentlessly because they never feel like they have enough.  The fact is that if they never feel like they have enough then it does not matter how much money they earn, because they will never be satisfied.

Anyway, I think that these people demonstrate that it is definitely possible to live without money, but the hard part is to unplug yourself from what is considered normal.  I am definitely not cut out to live in a cave, but I have to admit that I am a little envious of those living abundantly without money.  For now I am very thankful for the lot I have been given, and I will just have to do my best in this world that is controlled by this “imaginary” system.   I have to admit that this whole financial meltdown made me less fearful of losing money, because life can and will go on without it.

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Online viagra canada » Canadian Pharmacy Online - Internet Drugstore - Buy Canadian drugs online! http://baglady.dreamhosters.com/2009/07/08/study-finds-that-home-loan-modification-is-not-profitable-no-really/ http://baglady.dreamhosters.com/2009/07/08/study-finds-that-home-loan-modification-is-not-profitable-no-really/#comments Thu, 09 Jul 2009 01:57:32 +0000 admin http://baglady.dreamhosters.com/2009/07/08/study-finds-that-home-loan-modification-is-not-profitable-no-really/ Apparently the Federal Reserve Bank of Boston conducted a study and found that .  Lets see, if I were promised $10 for something last week, would I run out today  and  ask for $5 for the same thing?  Of course lenders would lose money on loan modifications and they  would not cut their profits if they did not have to!  It really does not take a study to see that lenders would try to delay or avoid loan modifications if they could.

One of the authors of the study says that the would have been more effective  if the money was given to borrowers rather than lenders.   That is probably true.  The Obama mortgage plan touted that they would help 3 to 4 million borrowers who are delinquent through modifications.  If you spread  $75 billion out to   3 million borrowers each person would get $25,000.  In some areas that money could probably pay off someone’s entire mortgage debt.  Of course this would be too obvious of a government handout and probably would be even less popular than the current ill conceived plan.  Who would not be pissed off if their financially delinquent neighbors just got a check for $25,000 for the sake of being delinquent?

The current plan gives incentives to servicers and lenders to modify loans, but that incentive is relatively small compared to an interest cut or principal cut on a big loan.   Also, if servicers really wanted to ramp up on loan modifications they would need to hire a lot more staff, and it is not profitable to do so.  Additionally, if a borrower is still paying their debt then there is really no incentive for a lender to change the rates voluntarily.  This new study also echos past data that .     As I have said before, this whole mortgage bailout  is simply prolonging the mess because it sort of give banks a lifeline to delay the processing of bad loans, and borrowers who have no capacity to pay back their loans simply delay their ability to repair their credit.  I am glad that now there is fairly concrete evidence that supports my conclusion.

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Online viagra canada » Canadian Pharmacy Online - Internet Drugstore - Buy Canadian drugs online! http://baglady.dreamhosters.com/2009/06/22/apparently-we-are-now-echo-boomers-and-we-will-save-the-housing-market/ http://baglady.dreamhosters.com/2009/06/22/apparently-we-are-now-echo-boomers-and-we-will-save-the-housing-market/#comments Tue, 23 Jun 2009 04:25:22 +0000 admin http://baglady.dreamhosters.com/2009/06/22/apparently-we-are-now-echo-boomers-and-we-will-save-the-housing-market/ Today I read a headline ““.  At first I raised my eyebrow wondering what exactly an “echo boomer” is, and then I read this article and I thought it was hilarious.  Apparently echo boomer is another label for children of the baby boomers.  Haven’t we got enough labels already?

So the gist of the article is that a Harvard study said that  my generation is entering  a stage of peak home consumption and will shore up the housing market.   The problem with this conclusion is that they did not account for how many people in the “echo boom” generation already own homes, and how many already lost homes to foreclosure and cannot recover for seven years.  However, the study did acknowledge that the real income of my generation is much lower than the prior generation so the affordability of homes is much lower.  Additionally, younger workers are suffering more in the midst of high unemployment, so buying a home is even more out of reach due to the lack of jobs.

However, I agree that eventually our generation will be the ones that soak up the excess housing inventory on the market now, but that is almost the same as saying “the sun rises in the east”.    It will take time for homes to be affordable enough for my generation to buy en masse.  Some of my friends have an attitude of, “I am not going to be stupid like my parents and rush into home buying”, and even those who have parents with huge capital gains on their homes believe that it is still too expensive to buy a home at the current valuations.  Also I have seen a trend of frugality as being the “in” thing to do now so many are seeking a deal or just staying put.  Some are just saving money by living with their parents.

Anyway, I wouldn’t say that we as a generation is  a lifeline for the current horrible housing situation, but I think it is a good thing that this crisis is happening now while we are still young. We still have time to figure stuff out,  learn from our parents’ mistakes, and build up our assets.  Unfortunately,  many baby boomers who were most affected by this economic disaster may be running out of time to rebuild.

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