Yeah, I have a thing for watches. This one I'll have to take down and redo the hour hand and lume plots on the outer edge. Who ever worked on it last was clumsy.
@Jinx86 ...Really interesting watch... I have not seen that one before. Covers all the bases... date, military time etc. Only thing missing is the 6. Cheers, RickO
I actually traded gold for bronze this week. Think it's the first time I've ever done that!
But I also opted to buy another few tons of copper, steel, iron, and other stuff. Two contiguous rental properties, a 2-unit and a 5-unit. Cool thing is that they're bordered on the east by one property that I already own, and bordered on the west by three properties I already own. Completes a 1-acre parcel that I began working on 2 years ago.
Oh, and the bank threw in a couple of pieces of paper, too. Walking out of a close with two new properties and $75k in cash was a hoot
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
I love the idea of income properties. However, Im sure sure how I feel about managing the property once its rented. Looking at paying my current house off and buying/building outside of town. We estimate the rental income from my current house would nearly pay for 75% of the new mortgage payment monthly after property taxes and insurance. Just not sure I want to have the potential of something going wrong in a 130 year old house. I have been more interested in investing in a 10-15 apartment complex. Group of investors to share the burden, less risk, less reward.
Thanks, guys. Didn't mean to hijack the metals thread, but I figured it was the kind of thing people who invest in physical stuff would appreciate--I know some of you have investment properties of your own.
Banks loan approximately 80% of the value of investment properties. Usually you have to come up with 20% down. In this case, not only did I not have to put 20% down, but the bank wrote me those checks on top of it. Now part of that was credits--2019 property tax, security deposits, a few rents from April, etc. And I'll have to pay those bills or return those deposits in the coming months. And part of it was because I gave my banker a detailed list of the improvements I'll be making to these properties in the next 12-18 months, so the appraiser valued the places in part based on those future improvements.
But most of it was because the seller asked too little: he'd based his asking price off of the rent he's been collecting--which was way too low. Lots of people use Cap Rates to determine value of rental properties. That's fine, but between landlords we tend to value them fast and loose on multiples of rent. Around here, ok properties in a decent neighborhood might sell for about 7 times gross (rent x 12 months x 7). The seller was charging about $125 per month per unit too little. Multiply that by the 7 units between these two properties: That's $875 per month. Multiply by 12 months = $10,500. Multiply that by the 7 times multiplier and he sold the places for about $73,500 too little.
For what it's worth, these are my 22nd and 23rd properties. About 70% residential and 30% commercial. I've been doing this for 29 years now. Am I nervous about the current economy? Hell yes. Stopping me from moving forward? If the economy crashes and burns on a great depression level, everyone will be screwed. Anything less than that and It'd be foolish for me to miss this kind of opportunity.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
@cmanbb....Thanks for the reply and the pictures.... I really like those little gold bars...Although I stick to coins, they are interesting...Cheers, RickO
@ricko said: @cmanbb....Thanks for the reply and the pictures.... I really like those little gold bars...Although I stick to coins, they are interesting...Cheers, RickO
I too buy coins, but the collector in me.... since 1984 keeps me chasing the collector gold too.
Diversify.
USMC_6115
Posts: 2,958 ✭✭✭✭✭
Comments
How about real porn:
Yeah, I have a thing for watches. This one I'll have to take down and redo the hour hand and lume plots on the outer edge. Who ever worked on it last was clumsy.
I’ve got nothin. Still trapped in my house
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
@Jinx86 ...Really interesting watch... I have not seen that one before. Covers all the bases... date, military time etc. Only thing missing is the 6. Cheers, RickO
Will trade for Porsche Cayman
A couple 1oz bars I bought during the "dip"
Dude. Again? That 1 oz Engelhard Australia is freaking awesome!
--Severian the Lame
Thanks Weiss....I do like these 1oz pours...
Family photo of the 1oz stack.
Cool off the charts!
My YouTube Channel
@RonB ...Who makes the 7 oz. bar with the Jolly Roger on it?? Cheers, RickO
https://prospectorsgoldandgems.com/poured-silver-bars/
Y'all be careful out there, fake bar I came across this week stamped 100oz.
920grams on the postal scale, no where close...
It's all about what the people want...
Certified pure........
Who certified it?
Is it silver plated?
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
WOW! Nice catch @LukeMarshall
edited to add that the bar looks like it's been kicking around for awhile..
Silver Metals International Certified Pure silver cube
Made in several sizes, 25, 50, 100oz
I doubt it was silver plated, it felt like aluminum - almost comical.
It's all about what the people want...
It's Friday again already!!!
Still waiting on my first bullion purchases of the year... APMEX should ship in about a week they say
It's all about what the people want...
I actually traded gold for bronze this week. Think it's the first time I've ever done that!
But I also opted to buy another few tons of copper, steel, iron, and other stuff. Two contiguous rental properties, a 2-unit and a 5-unit. Cool thing is that they're bordered on the east by one property that I already own, and bordered on the west by three properties I already own. Completes a 1-acre parcel that I began working on 2 years ago.
Oh, and the bank threw in a couple of pieces of paper, too. Walking out of a close with two new properties and $75k in cash was a hoot
--Severian the Lame
@Weiss....Very nice.... the properties and the checks...Cheers, RickO
Nice!
build hotels
Weiss 👍
My YouTube Channel
@Weiss
I love the idea of income properties. However, Im sure sure how I feel about managing the property once its rented. Looking at paying my current house off and buying/building outside of town. We estimate the rental income from my current house would nearly pay for 75% of the new mortgage payment monthly after property taxes and insurance. Just not sure I want to have the potential of something going wrong in a 130 year old house. I have been more interested in investing in a 10-15 apartment complex. Group of investors to share the burden, less risk, less reward.
@Weiss
My brother and I took advantage of the real estate bubble in 08.
Purchased 4 properties with cash, and rented out 10+ years.
Just sold 2 of them, and a third one is closing end of this month. ROI.... was 200%.
Investment property is the way to go.
Thanks, guys. Didn't mean to hijack the metals thread, but I figured it was the kind of thing people who invest in physical stuff would appreciate--I know some of you have investment properties of your own.
Banks loan approximately 80% of the value of investment properties. Usually you have to come up with 20% down. In this case, not only did I not have to put 20% down, but the bank wrote me those checks on top of it. Now part of that was credits--2019 property tax, security deposits, a few rents from April, etc. And I'll have to pay those bills or return those deposits in the coming months. And part of it was because I gave my banker a detailed list of the improvements I'll be making to these properties in the next 12-18 months, so the appraiser valued the places in part based on those future improvements.
But most of it was because the seller asked too little: he'd based his asking price off of the rent he's been collecting--which was way too low. Lots of people use Cap Rates to determine value of rental properties. That's fine, but between landlords we tend to value them fast and loose on multiples of rent. Around here, ok properties in a decent neighborhood might sell for about 7 times gross (rent x 12 months x 7). The seller was charging about $125 per month per unit too little. Multiply that by the 7 units between these two properties: That's $875 per month. Multiply by 12 months = $10,500. Multiply that by the 7 times multiplier and he sold the places for about $73,500 too little.
For what it's worth, these are my 22nd and 23rd properties. About 70% residential and 30% commercial. I've been doing this for 29 years now. Am I nervous about the current economy? Hell yes. Stopping me from moving forward? If the economy crashes and burns on a great depression level, everyone will be screwed. Anything less than that and It'd be foolish for me to miss this kind of opportunity.
--Severian the Lame
Weiss- I love your RE stories. In particular your tenant experiences.
Wish there was a thread here for you and other landlords to share nightmares, err experiences.
..Back to our regular scheduled programming:
Very nice, thank you all for sharing !!!
Weiss, that was the best non photo or controversial post I've seen here in a hot minute. Thanks bud.
Actually got a PM pic tonight, ASE money clip from 2000 in there
Added these early in the week...…………
@cmanbb....I like that gold bar....looks like an Englehard with the big E....but has a 'rough' look as well. Cheers, RickO
Yes, a variation of an Engelhard bar.... here's 3 different types.
@cmanbb....Thanks for the reply and the pictures.... I really like those little gold bars...Although I stick to coins, they are interesting...Cheers, RickO
Those Engelhard gold bars are sweet!
My YouTube Channel
I too buy coins, but the collector in me.... since 1984 keeps me chasing the collector gold too.
Diversify.