Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (214591)	8/7/2009 12:14:17 PM
From: Lazarus	Read Replies (2) \| Respond to of 306849

yes, there are INCREDIBLE DEALS out there.... finding them, well, that can be challenging. I just put in an offer on a home (short sale) for approx 1/6 of what is owed. may not get it -- no sweat -- but wont be surprised if i do. i bought a first trust deed on really nice mobile home on a 1/2 in WA overlooking the Columbia river. balance due of 68k. paid 35k. (it probably has a fair market value of 100k) They are having trouble making the payments. I told them if it got to where they could not make them... I may just offer them some cash to move and make it my home. im buying a first trust deed with a balance of 78k for 25k. i will need to write down the note because the house is only worth about 35k --- but the guy who is in it put 38k down and doesnt want to lose it. BUT THE CASH FLOW IS GREAT (currently $630.00 per month)

To: John Vosilla who wrote (214591)	8/7/2009 12:22:16 PM
From: Smiling Bob	Respond to of 306849

John Playing the Devil's advocate, have you given thought to the possibility of Florida being too overbuilt, too expensive to insure and cool, and maybe in 10-15 years actually losing significant parts of its coastline? Jimmy Mac's already sleeping in his swimmies Cape Coral might be a model. Tax base gone and doesn't sound as if it's likely to return anytime soon.

To: John Vosilla who wrote (214591)	8/7/2009 12:58:34 PM
From: Micawber	Respond to of 306849

Most everything (other than high end of course) now would generate very nice cash flow, incredible IRR on long term holds. So what are your plans with these deals? Are you holding and renting them, or are you flipping them? Thanks.

To: John Vosilla who wrote (214591)	8/7/2009 12:59:18 PM
From: Jim McMannis	Respond to of 306849

GOP Sen. Martinez tells supporters he's resigning news.yahoo.com ORLANDO, Fla. – Republican Sen. Mel Martinez of Florida said Friday he will resign from the Senate as soon as a replacement can be appointed, leaving the seat more than a year before his term ends. Martinez, the only Hispanic Republican in the Senate, revealed his plans in a statement to supporters and was expected to publicly announce the decision Friday afternoon in Florida. The first-term senator already had announced in December that he would not seek re-election in 2010, but had fended off rumors that he would give up the seat early. His decision puts Republican Gov. Charlie Crist — who is running to replace him — in charge of filling the seat in the interim. Crist said Friday as he boarded a plane to Tampa that he would not appoint himself, but declined to discuss the issue further. In a letter to friends and supporters obtained by The Associated Press, Martinez says he's stepping down early for personal reasons. "My priorities have always been my faith, my family and my country, and at this stage in my life, and after nearly 12 years of public service in Florida and Washington, it's time I return to Florida and my family," Martinez wrote. The note says his resignation will be "effective on a successor taking office to fill out the remainder of my term." Officials predicted that Crist, who faces a Republican primary challenge and several Democratic contenders, would select a "placeholder" for the temporary assignment. Crist will almost surely appoint a Republican, which won't change the balance of power in the Senate, where Democrats control 60 seats needed to overcome Republican filibusters. With Republicans struggling for relevance in the Democratic-controlled Congress, Martinez is the second GOP senator in recent days to announce his resignation. Sen. Kay Bailey Hutchison said in late July she would resign this fall to challenge fellow Republican Rick Perry for governor. Martinez's statement also had echoes of Alaska Gov. Sarah Palin's announcement to resign her position last month. Palin said she did not want to finish out her term as a lame duck who couldn't get anything done. In his statement, Martinez said he has always promised constituents that he "wouldn't simply warm a seat." U.S. Rep. Ileana Ros-Lehtinen, R-Fla., said she hoped Crist would appoint a Hispanic to follow in Martinez's footsteps, "possibly new blood, maybe not somebody who's been in office but maybe someone who is from the private sector." Martinez's resignation leaves just one Hispanic in the Senate, Democrat Robert Menendez of New Jersey. Ros-Lehtinen also said she hopes Crist will select someone who is as committed to comprehensive immigration reform and to health care as Martinez, as well as someone who shares his bipartisan spirit. Martinez, 62, was elected in 2004 after serving as the U.S. secretary for housing and urban development under President George W. Bush. He served as general chairman of the Republican National Committee for 10 months, resigning in October 2007. He was born in Cuba. At 15, he fled to America as part of a Catholic humanitarian effort called Operation Pedro Pan. Catholic charitable groups provided Martinez, who was alone and spoke virtually no English, a temporary home at two youth facilities. He then lived with two foster families, with whom he remains close. He was reunited with his family in Orlando in 1966. Martinez has denied that he was forgoing a second term because of concerns about difficult re-election prospects in a state won by President Barack Obama. But he has struggled to boost public support because of his close ties to former President George W. Bush and his efforts pushing an immigration bill that was unpopular with many Republicans.