With all the gloom and doom about foreclosures going on in Las Vegas, I still think it’s a good time to buy. Why is it that when prices are high and EVERYONE is buying, that people make it seem like it’s the right time to buy? I have learned following the crowd isn’t usually the smart choice. Yes unemployment is at 15% and foreclosures are still happening, so what? Do you think Las Vegas is going to disappear? Personally, I don’t.
The US is in a recession, but prices are so damn cheap! I put offers only some places and have low balled them and gotten accepted offers on a 2 bedroom with 1 car garage for $58,000, in the same complex I own my vacation home! You can’t even buy a new Escalade for $58,000! But you think it’s going to go down even more right? Well let me say this, waiting to buy when the “magical bottom” hits is a mistake. This 2 bedroom cant rent anywhere from $750 to $900 per month! Don’t you think that is a great return on your money, I do!
But it’s risky right? Don’t you think it’s riskier when you buy a place in Vancouver for $250,000 and can only rent it for $1,000 a month? All the real risk is gone in a market like this. This condo will rent for $750 to $900 and if it didn’t then I could drop the rent to even $600 and I will still come out ahead, but the rent won’t go that low. The foreclosure market in Vegas reminds alot of my internet marketing. The opportunity to make money in both sectors is big, but when the rules and landscapes change then those doors will be shut forever. When you see an opportunity you need to decide, then act on it. You can work until you’re 65 or have the life you really want to have, it is your choice! Sure I get scared but I analyze the situation then act on what I think is right.
Could I go bankrupt by purchasing a few properties and $55,000 to $65,000, no way. The mortgage payment on those is small, it’s not a $1,500 monthly payment, just a few hundred dollars. It’s much safer than buying condos for $350,000 and then you need to put a couple hundred of your own money into that Vancouver condo every month to make it cash flow. Every property you buy needs to cover itself and if possible make you a few hundred per month, per property. This is the way to do real estate investing, then you can go far. If you need to dip into your wallet for every property you buy on a monthly basis, how many condos can you buy? Not too many right?! Enough said on this. I just needed to get this out. Everyone thinks real estate is so difficult, not as hard as you think.
I took a walk around the Chateau Versailles complex and this is what I saw, pretty cool flowers etc.. Short and sweet this time. Ciao peoples.
have this tonight after dinner
dead beatle R.I.P
ell, well, well, look who's back. It seems I took a little hiatus from blogging. Everyone needs a little break and I don't even know if I'll be posting after this blog post. I am back in the sunny south western USA. I've been in Las Vegas for the last three days and I'm enjoying the heat, and the sun.
I drove down, the same as last time and stopped in Boise, Idaho halfway through. The drive was hotter this time, but it felt shorter which was a good thing. With temperatures down here in Las Vegas reaching 40°C it sounds a lot hotter than you would think. I am not saying that it isn't hot because it definitely is, however if you compare 40°C in Las Vegas compared to 40° in Vancouver, you would die in Vancouver with the humidity level that they have there.
In any case I've been working online and pushing forward. I will be contacting the realtor I deal with down here in Las Vegas, and possibly will be purchasing another condo or two while I am here.
The property management company that I have been dealing with is great, so far no problems, and I don't expect to see any in the future. I have actually been receiving checks, instead of dishing out money every month like I had to with the properties I owned in Winnipeg three years ago!
Buying a condo for $64,000 and then renting it out for $795 per month, just can't be beat. The properties down here require very little maintenance because they are new, so right out of the gate you have much less problems, less repairs and less headaches if you are dealing with the right property management company.
Personally, from what I can tell it looks like the prices of properties here have stabilized and has been that way since I was here and purchased here last October in 2009. No, the prices in Vegas have not gone up very much, if any yet. Obviously, Las Vegas is in a recession, and it still is. But, so what? Las Vegas will bounce back it is just a matter of time. And, in the meantime if the property is being rented out with positive cash flow, what's the problem?
I am making money every month off of my rental, while I wait for the market to rise. Even if it takes three years to rise, I don't really care. All I care about, is that I got the property for a good deal and I am able to rent it out to cover my costs and make some money on the side. This place is a no-brainer for any real estate bastard. If you have the money, and you have the balls this is the place to invest. I have said it many times, but you will see a blog post from me, when the prices rise and the profit of selling one of my condos becomes possible with a nice chunk of cash in my pocket.
On another note, I have to say that people tend to exaggerate everything. I was a little worried that coming to Las Vegas in August was going to be too hot. Yes it is hot, but as always friends and family, and anyone else always tend to jump in and put their own opinion resulting in fear and leaving you scared of the unknown. Never take anyone's word for it, learn for yourself. What is hot to some people, is warm to others, and vice versa.
Anyways, I'm having a great time down here in Vegas, enjoying this time, working and just enjoying my relaxing work vacation. I am so grateful that I purchased the place down here as a vacation home I can't even begin to explain it. I will have this place for many decades to come, even if the prices rise, and they will.
Remember whatever you focus on will expand. What does that mean? Well if you are continuing to think about how fat you are, you will get even fatter. If you continue to think about how sick you feel, you will continue to get sick. You're a thoughts will become your reality. Think about ways to make more money, and you will make more money. If you think about ways to get out of debt, you will create more debt. Think about what you want, not what you don't want. The Law of attraction is always at work, even though many times I find myself thinking negatively it is still working for me just in the wrong fashion. Training your self to be positive is the only way to have a happier life, I see this in myself all the time, and I work on improving myself all the time.
Have a great day, I'm off to the pool!!
I figured I better post these photos before they become non relevant, since I am in Vancouver now. Well it was fun while it lasted. We stayed in Vegas for almost 6 sun filled weeks, it was awesome! We walked daily for about an hour, felt great with the sun in our faces, wearing shorts and t-shirts. Buying that condo in Vegas was one of the best decisions I have ever made, it feels so good to be able to getaway anytime we want.
I’m back in Vancouver looking at the rain outside and wondering why the f*ck we even came back to the “most beautiful city on earth” (Vancouver?!). In any case now I can focus on the work tasks as hand with no distractions of nice weather, LOL. Driving wasn’t as bad as I thought it would be, 20 hours to get there, with a night in Boise, Idaho in between Vancouver and Vegas.
Now it’s to get off my lazy ass and make some money!
I don’t like not making my goals and it seems the last time I blogged about getting back to my $1500 profit per day it didn’t happen. Why not?
- Part of it really has to do with me and my relaxed work ethic. Psychologically I think I am happy with the success I have achieved so I don’t work as hard as I should be or did in the past.
- I don’t push myself like I used, the end result is lower income. Another reason is feeling sorry for myself because I’m not making as much (stupid I know…). Money screws with your head, when you making tons of it you want more, when it comes in less amounts you get pissed off, angry etc.. Human beings are strange creatures, always wanting more and more, never being satisfied or happy with what they have already.
- Lastly the internet is constantly evolving and changing and many opportunities that I made hundreds of thousands of dollars from in the past aren’t there. Competition comes in and pretty soon you aren’t making money. Google chances how the rank websites and your AdSense earning dry up and so on. Surprisingly I still make about $1,100 month from Ad Sense, from informational websites I built in 2003-2006. I haven’t touched them in years since at least least 2006. $1,1000 isn’t a ton of cash but I get check for doing nothing. Back to the changing Internet, I found loopholes in search engine like Google, Yahoo and MSN that allowed to get very cheap targeted traffic to my sites and made a killing for years. Most of those loopholes are now closed unfortunately, however the money I made from these tactics has been invested in real estate safe and sound.
I made at least 2-3 million dollar in revenue from many, many loopholes that I found that will be forever closed. I am very grateful for being in the right place at the right time in many situations for many years. I basically milked every idea I had as long as I could, and still milking some now as I write this. Being resourceful has helped to cement my financial freedom for as long as I am alive and my kids (and grand children) will be taken care of long after I am gone 50-60 years from now, for that I am so VERY grateful for! I feel like I have done my duty as a provider, and it feels great to have achieved it.
Don’t count me out yet though, not even close. I still have some tricks up my sleeve I’m not going to slowdown and retire. I have too much energy to stop!
As for the local affiliate marketing I tried it with a local plumbing company, I made a website for them, I set up phone tracking so my client (plumber) knew that these calls were coming from me. So far from what I know he got 1 customer from it in about 1 month.
- The problem is this, he doesn’t answer the call every time because he is busy being a plumber, if he calls a few hours later then that potential customer may have gotten another plumber lined up for the job.
- I am paying for all the online advertising, so I get screwed because he isn’t on the ball!
- Also some plumbing jobs are just too small for this plumber to do, for instance changing a leaking faucet isn’t really worth it to him. I get 10% of each job, but it hasn’t worked out too well.
- Traffic for local marketing campaigns is much lower than a dating site where you can target millions of people. For instance for this plumbing client, I get anywhere from 5-13 clicks a day. This is enough to get a job per day you would think but apparently lots of the phone calls are people asking questions more than booking jobs.
- He has poor communication skills and takes him forever to call me back (many days usually).
I’m not too bummed out on this because I knew there were be problems that I wouldn’t be able to foresee until I actually had a campaign running. Local affiliate marketing definitely does work, because I track the phone calls the plumber is receiving. He is getting the calls but a factor of a few things really isn’t making this deal work out for me. Currently I lost around $250 roughly on this test, you live and learn. I don’t regret doing this project at all, I learned lots and I can use what I have learned on other clients that will pop up. I will be pausing the phone tracking as well as all my online advertising for this client. I wasted enough of my own time and money to try this out. If the client doesn’t want to put in much effort then I have no alternative. I don’t like chasing clients for their input or money. There are way too many other people who would love an opportunity to have a chance at expanding their client base and only pay for actual clients. Whatever, you live and learn…
Watch this video below it is very inspirational Will Smith is the man he is a driven man, so awesome!!! He never gives up he would rather “die on a treadmill”. This is how you achieve success, so simple but yet SOO POWERFUL. He understands the universe and a crazy work ethic. AWESOME. This video sums up how I feel…
heading out on the 20 hour drive from Vegas to Vancouver
stopping for gas in some Nevada desert gas station
through the Nevada desert..
cool rock formations in the Nevada desert..
Nevada highway patrol
creepy little town in Nowhereville, Nevada USA
Once you get to Western Idaho, it all changes and looks like Vancouver…
cool looking winding road…
I have been pretty lazy with blog posts but whatever, the great thing about blogging is that it’s NOT something I need to do but something I do when I want to. I’m still down here in Vegas where the temperature is between 25-33 celcius every single day. And there are still 50 foreclosures in my complex alone. It seems lots of investors from California speculated that the prices would rise higher and higher when they bought 2 years ago, now they are loosing condos in Chateau Versailles (my complex) left and right, and it seems many out of state and out of country investors such as myself have found highly discounted vacation homes because of it.
Take a look at the Chevy Trail Blazer SUV below. You would think from the photos some thieves came by and stole the rims of this SUV, not so. This house is being foreclosed on because the owner couldn’t pay the mortgage, my guess (and it’s a good one) is the owner vacated the premises and also left SUV because he couldn’t make payment on it either. He took of his custom rims and sold them probably on Craigslist to make a bit of money. I can almost guarantee I’m right because when I got my place I had to buy new wash/dryer, as well as my fridge because the previous owners took them and sold them to make some extra cash.
Those pictures below show how bad it is down here, new subdivision and there is a 2 year old SUV on concrete blocks.
The Mirage volcano show, every night at 8 pm, it looks pretty damn real…
really vibrant cactus flower plants at Lone Mountain (3 blocks east of me)