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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Riskmgmt who wrote (82096)5/23/2007 10:27:26 PM
From: John Vosilla  Read Replies (2) of 110194
 
Ray I was close to making a temporary move there last fall for the purpose of setting up a nice portfolio for myself and family. But by the grace of God the closing on the sale of my home fell through and the RE market in much of Florida finally started collapsing.. So never went back. I only buy with decent equity going into the deal something that is next to impossible unless you are close to the scene.. I'm shocked by a comment you made that cash flow doesn't matter these days as inflation will bail you out. Sorry but I can't get excited by Florida homes in the most beaten up markets renting for only $900 with huge oversupply and over $600 in just taxes and insurance and expect to pay $160k for a buy and hold even if it is down 40% from the bubble peak. The 6% cap rates in Texas paying retail didn't excite me so the 1.5% current cap rate in Florida now won't either. Sticking with my tried and true method of equity into the deal that served me well until this bubble grew out of proportion in 2004 and everybody and his brother became a RE expert down here in paradise. If the stuff I hold onto this next cycle goes up a lot in a reflationary cycle that is icing on the cake. Seems one thing many of us have in common on these boards is the housing and credit bubble somehow transformed our lives and we are all trying to figure out how to survive and prosper from it..
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