Politics and Money

[Dobie Lama]

Well, some of us made lotsa of $$ from the real estate boom and didnt lie about our finances!

You got great loans, with great terms, with low down payments.

Now, what you did with that money was up to you. I bought foreclosed properties with a business partner, fixed them up and rented them. All the properties cash flowed within 2 years. All were long term holds ( minimum 8 years).

We sold them 4 years ago and made a bundle.

I miss the easy lending practices, the low down, the no down, no income, no worries. LOL

So, I took the real estate money and put it into big board stocks. What a surprise when 2008 rolled in. And now, I'm here managing my portfolio and dreaming of the "no down days!"

The moral of the story is to be a prudent investor and to shun the get rich quick schemes. Oh yeah, and try not to buy real estate that's out of state.