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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (57965)	9/12/2016 2:39:26 PM
From: Lazarus	Respond to of 78751

I didnt want to keep all the $$$ in the casino...lol Good on you for buying some hard assets. Sounds like you are doing very well on that Duplex. I only gave that land deal as one example...of my graduation from "penny stocks" to other penny plays... including "penny lands" In that example I didnt mention that the land sale has a note involved so its paid over time (about 19 years) and i will collect interest in addition to the principle Also, I was being modest when I mentioned 4k shares at .05 as actually had considerably more and sold the largest block of my holdings at around $5.00. I kept 20k+ shares of the stock in my IRA all the way up to nearly $19.00 and then back down to zero. Still have 'em. I also took $25k and bought a private note from an owner who sold his home and carried back the financing. He was declaring BK and his attorney told him to sell the note post haste. The amount owed on the note was ~ $82k but the value of the home had tanked with the market... so he sold me the note for $25k. Payments on the note are $636.00 per mo (but I reduced the amount to $500 so long as they pay on time) They have never missed a payment. I have had the note for about 8 years now. There's about 20 years left on the note. (it was fully amortized over 30 years). I hope he never refinances but if he does it's still a win/win for me. I think there's current around $68k balance due. The math is simple on that one -- I get $6k income a year on my $25k investment = 24% I bought quite a few pieces of land. I picked up 5 pieces of land in one area on the cheap - paid around $10k for all of them and sold one of them a couple of years later for $15k. Still have the other 4. In the end --- they are all little deals/plays but they add up. Having 6 kids and helping them to buy cars, homes. go to college, etc... I never feel rich (in the material sense) as money tends to get eaten up pretty quick. I'm kept humble by the fact --- which I have mentioned here numerous times -- that I literally watched millions in paper profits (made from penny stocks) disappear due to shear stupidity. Today I made two stock trades - a few clicks on the keyboard - banked around $1100. On Saturday I picked up an item at a yard sale for $5.00 and it sold Sunday on Ebay for $165.00 - I will ship it within the next hour. Life is good! _____ and that was only 1 of many stocks I did very well on.