Tenacity, quite emotional I see. I recommend you read the following at least three times before responding as your post history evinces a paucity of reading comprehension and critical thinking acumen.
We'll begin here:
You are a stock fraud who went to prison for defrauding people (FACT, not my opinion, that's a FACT).
Fact: The charge was "receiving non-disclosed cash commissions paid by the owners of a publicly-traded company" to which my only partner received the benefit of, not fraud. I had no knowledge of the undisclosed commissions. I was 21 yo; my partner 34 yo. I was approached by the prosecutor to rat on my partner (who was being investigated for a similar case), who then ratted on me contriving what he did (undisclosed commissions) upon me. I sold the stock as I was a good salesman who my partner used to perpetuate his gains. The stock was listed on pink sheets, but the investors were aware of this. Once the news went public, the stock got de-listed.
1) I perpetuated no fraud and thus
was not a stock fraud (this wasn't even the charge);
2) I did not go to prison for fraud; I went to prison for my partner's collecting non-disclosed cash commissions.
Accordingly, your "fraud" assertion is entirely false.
Tenacity said:
Now you run around telling people to take money out of their stocks/bonds/bank accounts to invest in real estate that is "always going to be cashflow positive" and is "always going to go up 15% per year in appreciation over 20 years".
1 )I never stated to take money out of stocks/bonds/bank accounts.
Your assertion is false.
2) I never stated R/E will always be cash flow positive. I did state to find 5+unit residential buildings with DSCRs exceeding 25% in finally strong municipalities with growing populaces.
Your assertion is false.
3) I never said that R/E will always appreciate 15% per year over 20 years. I did say that all 5+ residential buildings in strong municipalities with growing populaces have appreciated at least 300% over 20 years.
Your assertion is, again, false.
When asked to list ONE property that you recommend with a 20 year track record of a 15% appreciation, you didn't do it.
When you requested to list one property, I stated EVERY 5+unit residential building (which is occupied) in ALL strong municipalities with strong populaces has risen at least 300%. Simple mathematics and investing acumen will show you that 5+ buildings are valued according to their net operating income, and as rents in all strong municipalities with growing populaces have increased over 300% over the last 20 years, net operating income and thus building appreciation, too, have increased by 300+%.
Again, your assertion is false.
- You want info on BeTheChange? I already posted it. Let's just start with the lie he made about his income and net worth. I broke that down right here:
http://www.sosuave.net/forum/threads/the-real-importance-of-money-in-game.240405/#post-2426418
I see no lie about his income. One can earn 100k/yr. and still be insolvent to the extent of 20k. Further, his 125k net worth could be on paper inclusive of the deal he just structured, and not a realized profit through sale. For example, if you bought 1000 shares of XYZ at $50 and then stock went to $125, your investment would be worth $125k on paper, although the gain has not been realized through a stock sale. Likewise, if he brought the property, the sale of the property has not been effected, but the value is already present.
I see no discrepancy in his statements, as they are reconcilable.
What I do see, though, are more false assertions.
- Both of you guys are liars and frauds, NOT because Tenacity "thinks so", I have posted verifiable proof. BeTheChange clearly has been lying about his income/net worth from 2015 until now, and you (Guru) are a convicted felon on the direct account of frauding people.
Ironic after clearly showing how ALL your assertions were false that you throw the "Fraud" label on me, BTC, and PoonKing, and I'm sure others, but one thing you did establish,
you are the fraud by attempting to proffer 100% baseless assertions as fact. Further, if a fundamental R/E strategy as I outlined is incomprehensible to you, you are a financial dummy and have no business discussing finance in these forums. Your attempt to argue with a guy who buys MBSs and notes from banks, vacates tax and other liens through preemptive litigation, and extinguishes debts through complex corporate bankruptcy filings about a fundamental R/E buy and hold strategy evinces your naivety (and unfounded hubris) in the finance arena.
As I stated in the other thread, now run along now my
little bltch.