# $1M RE Flip



## Rickson9 (Apr 9, 2009)

http://www.youtube.com/watch?v=om10ZCFzDGg

If I calculate correctly (which is a stretch), In 2009 Mr. Jonathan Mann of California purchased and closed 271 trustee sale flips generating an average of $288K per flip or $78M in revenue in 2009. 

Happy New Year!


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## ssimps (Dec 8, 2009)

Hi Rickson9, since the link you reference in your signature includes you selling seats to a $500 seminar that is very / directly related to many of your recent posts, can you offer me a free seat to the seminar? I thought this was a member ad free site? 

If you have a great way to make $ in the US real-estate market, please share the details with us freely instead of posting ads on this forum. 

This is my opinion at least, but I'm not an admin of this form so maybe I should just STFU (learned that one last week). Maybe you should too when it comes to making money on the US housing market on this forum until you either remove the selling something part of your site; or remove the reference to your site in your signature; or offer people free seats to it.

Thanks.


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## Rickson9 (Apr 9, 2009)

ssimps said:


> but I'm not an admin of this form


This.


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## bean438 (Jul 18, 2009)

I agree with you ssimps, but I am not sure if he is disallowed to do so.


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## ssimps (Dec 8, 2009)

Rickson9 said:


> This.


So no free seat then? And I thought you would offer me one.


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## ssimps (Dec 8, 2009)

bean438 said:


> I agree with you ssimps, but I am not sure if he is disallowed to do so.


If he is allowed to, that is fine, it is not my decision to make. 

IMO, it opens up a crack in the door to allow members to act as if they are giving objective advise / help when they are really just trying to drum up business, and diminishes the credibility of the site overall. 

Thanks.


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## Berubeland (Sep 6, 2009)

I too am extremely irritated....I joined a few months ago and since I joined I clearly remember a post by Rickson stating that he had no other real estate other than his condo and made his money in stocks. 

Now when you check out his website it suggests that he made his money in real estate. 

There is money to be made in real estate in the States but... the same caveats apply that here also apply there. There is money to be made here too.

The main difference between here and there is that they have much fewer consumer protection laws there then we do here. For instance here real estate under foreclosure must be sold into the open real estate market. It must be listed on the MLS just like any other property. In the States there is no such direction real estate may be disposed of in many different ways. By auction, by internet auction bidding, trustee, and more. 

The main caveats for Canadians in the States are you do not know the area. Every state has different laws. Canadians must put at least 50% down on properties or pay cash. 

So yeah go to the States for a month and look around and buy something but remember buyer beware!!!! There's a lot more people trying to rip you off than make you rich. If it were a great deal this guys relatives/friends would be picking it up. It's no mistake that the guy picking up this deal is a REALTOR who KNOWS HIS MARKET. The same house 2 blocks over might be worth hundreds of thousands less. 

So yeah I'm suspicious and I don't like it. Last time when I asked Rickson to share what he had bought he told me to pay the $500 to find out. He also castigated me for being poor still. "(not for long i'm working on it. That's why i'm here to learn not to brag)I do know about real estate that is my job for the last 10 years or so.


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## high octane (Jul 21, 2009)

Yea I agree internet forums are for sharing information not enticing people to pay you for it

You seem to have a pretty high profile maybe you should be careful what you post on the interwebz I was surprised when I clicked on your Rickson9 youtube profile and found a video from carpetmunch.net

Maybe an admin can fix that for you


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## CuriousReader (Apr 3, 2009)

high octane said:


> You seem to have a pretty high profile maybe you should be careful what you post on the interwebz I was surprised when I clicked on your Rickson9 youtube profile and found a video from carpetmunch.net



That video is his "favourite", his name is Jim under that Rickson9 profile in youtube and his recent activity is to subscribe to: REProfitCoach, CBCDragonDen, JimTheRealtor, etc ... so based on the profiles it looks like the same person, and it's very interesting that he put such video as his favourite - I am not suggesting anything here, but Rickson9, you might want to update your favourite video


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## Rickson9 (Apr 9, 2009)

Berubeland said:


> I too am extremely irritated


Don't be irritated. Be happy! It's the holiday season!



Berubeland said:


> The main difference between here and there is that they have much fewer consumer protection laws there then we do here. For instance here real estate under foreclosure must be sold into the open real estate market. It must be listed on the MLS just like any other property. In the States there is no such direction real estate may be disposed of in many different ways. By auction, by internet auction bidding, trustee, and more.


This is your big objection? You're kidding right?



Berubeland said:


> The main caveats for Canadians in the States are you do not know the area. Every state has different laws. Canadians must put at least 50% down on properties or pay cash.


This is your second big objection? You're kidding right? 

I should write down all the objections I've heard over the years. It would be quite a hefty novel. I can call it, "The Book of Fail". LOL



Berubeland said:


> If it were a great deal this guys relatives/friends would be picking it up.


This is definitely not true. I haven't been investing as long as others, but I know for a fact that this isn't why great deals aren't picked up. In every bear market that I've bought in including the recent stock market and real estate crashes, people don't buy because they create objections and induce fear for themselves. Just like what you are doing (don't feel too badly, 9 out of 10 readers of this are doing it too).



Berubeland said:


> It's no mistake that the guy picking up this deal is a REALTOR who KNOWS HIS MARKET. The same house 2 blocks over might be worth hundreds of thousands less.


Perhaps you should re-visit the video and actually listen to the commentary. The 'guy picking up this deal' has picked up 271 deals in 2009 and made, on average $288,000 per deal. The income from this is slightly north of $78M. He's a realtor? I'm sure he is. LOL

The second point, at least, is true. I bought 2 bed 2 bath condos for $40K and literally a few blocks north were similar condos selling for $30K and if you studied the market you would know why. Learning a market isn't difficult, as long as you can understand English and arithmetic. However, for most, it is just another 'insurmountable objection'.



Berubeland said:


> So yeah I'm suspicious and I don't like it.


Anyway, to discuss this is really quite pointless. I'm not going to change anybody's opinion any more than they will change mine. If you're scared. Don't invest. For myself, picking up assets after a 50% collapse is a no brainer. For others, it's a brain aneurysm. Individuals should invest in the way that they feel most comfortable. The market rewards and the market punishes. Everybody should be happy with the consequences of their (in)actions. I am.

PS: Learn to deflect if you don't know how to make money, it will make you feel better.


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## Spidey (May 11, 2009)

I don't always agree with Rickson's manner of speaking to people, but I've got to say that I enjoy hearing his or other people's money-making ideas. He's let the information be available to those who may want to follow up but I don't find that he is overtly marketing his seminars. I also like hearing other members point out any potential flaws or things to be aware of regarding any proposed investments and the "back and forth" on-topic discussions can lead to a better understanding of the investments.


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## HaroldCrump (Jun 10, 2009)

Rickson9,
Other than the $500 fee for your seminar, what kind of investment capital would one need to enter this US RE market that you speak of?
It would be a pity to spend $500 for your seminar only to find out that one needs at least $1M capital to play this market.


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## Crackb3rry (Dec 28, 2009)

HaroldCrump said:


> Rickson9,
> Other than the $500 fee for your seminar, what kind of investment capital would one need to enter this US RE market that you speak of?
> It would be a pity to spend $500 for your seminar only to find out that one needs at least $1M capital to play this market.


I'm guessing that will be revealed in the seminar  My interest was tickled until I saw his website... Give me three hours and a decent paycheck and I can have that bad boy looking presentable. Yes I'm serious. Pm me. My greatest peeve is people who are truly successful but who don't put time into presentation.


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## ssimps (Dec 8, 2009)

Spidey said:


> I don't always agree with Rickson's manner of speaking to people, but I've got to say that I enjoy hearing his or other people's money-making ideas. He's let the information be available to those who may want to follow up but I don't find that he is overtly marketing his seminars. I also like hearing other members point out any potential flaws or things to be aware of regarding any proposed investments and the "back and forth" on-topic discussions can lead to a better understanding of the investments.


I agree totallly.

But what does a link to an ad in his signature have to do with his posts on this forum. I'm not suggesting him stop posting, I asking that this ad link be removed from his sig.

Thanks


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## Spidey (May 11, 2009)

_But what does a link to an ad in his signature have to do with his posts on this forum. I'm not suggesting him stop posting, I asking that this ad link be removed from his sig.
_

I don't know, it doesn't bother me especially since he also shares quite a lot of information about his investments and investment style. I've spent some time checking out his selections and Columbia sports wear and the Buckle would be stocks that I would consider at the right price. They are also stocks that I might not have considered otherwise, so I am happy for the link, even if he does notify people of events that he charges for.


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## high octane (Jul 21, 2009)

Crackb3rry said:


> I'm guessing that will be revealed in the seminar  My interest was tickled until I saw his website... Give me three hours and a decent paycheck and I can have that bad boy looking presentable. Yes I'm serious. Pm me. My greatest peeve is people who are truly successful but who don't put time into presentation.


Yea the website screamed "scam" to me, so I went googling for dirt but I guess it is the presentation

I did find the same ad in craigslist for $30 a person

I think it's genuine he wants to spread his 'lessons learned' and probably realizes $500 is a small price to avoid costly mistakes.

I've paid for great products on other forums made by knowledgeable members but I wouldn't be interested if they hadn't provided so much good info to the forum


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## AshleyT (May 1, 2009)

Being almost 40 and having over a million in net worth, some nonliquid is not a big deal. There are many in that position, and many others with several times that net worth in liquid assets, although I admit it is certainly a position of relative fortune. However, I don't think a moderate level of net worth qualifes anyone as an expert in investing in stocks or real estate. 

US real estate carries just as much risk if not more than any investment in the stock market. Caveat emptor. For many, buying a property in the US would become a large investment in a nonliquid asset in a foreign country with currency risk. There are also complicated legal and tax implications. Some of these properties are virtually illiquid, and may remain so for decades. $2,000 for a house? An investor in such a property may simply be saving the Michigan government the expense and hassle of bulldozing the property which they will do to all the other houses in the neighbourhood to save the carrying costs because the USA grossly overbuilt the residential market for an entire decade.

Be careful with your money. Do careful due diligence. Avoid the salespeople. There is rarely value in paying fees for newsletters, investments, or seminars. 

The road to wealth is a marathon, not a sprint. Many of you are very young, and that is your greatest asset. Don't blow your valuable young savings which will compound to a fortune over your lifetime.


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## ssimps (Dec 8, 2009)

Spidey said:


> _
> I don't know, it doesn't bother me especially since he also shares quite a lot of information about his investments and investment style. I've spent some time checking out his selections and Columbia sports wear and the Buckle would be stocks that I would consider at the right price. They are also stocks that I might not have considered otherwise, so I am happy for the link, even if he does notify people of events that he charges for._


_

So why does he not break the 2 apart, have his site that is sharing info for free and not selling anything (and is in his sig) and have a different site that he sells stuff with (not in his sig), or maybe he could buy ad space on this site to sell his seminar and support the site at the same time. Right now his site is more 'I have something to sell you that will make you rich like me' than anything else like giving good info for free that he could post on a site like this; IMO

Here's hoping this site can stay as spam free as possible, as it is a great resource and I really enjoy the posts and input from members, especially those members that do not feel the need to have a signature that pronounces they are a millionaire and that I should visit their site, only to find that the millionaire is selling seats to a get rich seminar. 

This will be my last post on this issue, unless I'm asked a question about it or someone replies to one of my posts. I think I have beaten it to death, made my point of view clear, seen that it seems many others agree with the point, and it is up to the admins to decide what is spam or not in the end.

Over and out. _


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## Oldroe (Sep 18, 2009)

I made 3 paragraphs before I decided "scam". And haven't read 1 post with any useful info and mostly just ignorant.

I've seen the owner of this site asked and never any fallow up.


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## Rickson9 (Apr 9, 2009)

AshleyT said:


> The road to wealth is a marathon, not a sprint. Many of you are very young, and that is your greatest asset. Don't blow your valuable young savings which will compound to a fortune over your lifetime.


I agree.


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## dogcom (May 23, 2009)

Rickson9 has done well, we all know or should know this and we know we can pay $500 to learn more. He also has the drive that got him to where he is and has done better then I have because I wasn't comfortable with the risks I would need to take and that was my decision. 

Having said that he has told us all the advertising of his ability and where we can get it, so now I believe it is up to him to independently argue with us without his past. He needs to now step up and make the points and resist explaining his success to really add to the forum. I send out this challenge to him to offer advise or refute certain points without pointing to his past success. 

To the other forum members this is new to forums to let someone like this in to challenge us. This is hard to accept but will make this forum much better. Of course anyone simply selling stuff without offering anything to the forum is not what we want.


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## Rickson9 (Apr 9, 2009)

Buy low sell high.

Hint: Most people avoid buying when low and buy high.


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## ssimps (Dec 8, 2009)

dogcom said:


> ......
> Having said that he has told us all the advertising of his ability and where we can get it, so now I believe it is up to him to independently argue with us without his past. He needs to now step up and make the points and resist explaining his success to really add to the forum. I send out this challenge to him to offer advise or refute certain points without pointing to his past success.
> 
> To the other forum members this is new to forums to let someone like this in to challenge us. This is hard to accept but will make this forum much better. Of course anyone simply selling stuff without offering anything to the forum is not what we want.


I agree, and based on the reply you got, unfortunately your last sentence also often seems to be true.


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## ssimps (Dec 8, 2009)

dogcom said:


> Rickson9 has done well, ..... and has done better then I have because I wasn't comfortable with the risks I would need to take and that was my decision.


Or has he really, who knows?

http://canadianmoneyforum.com/showthread.php?p=14324#post14324

Maybe I'm reading too much into the article I found (no pun intended), but it just adds fuel to my fire about having to look at his 'borderline' spam signature every time I visit this site. IMO the site would be so much better without stuff like this, and without me having to raise the issue the first place. 

Another thing my dad used to say all the time: "Something that seems too good to be true usually is."


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## Rickson9 (Apr 9, 2009)

ssimps said:


> IMO the site would be so much better without stuff like this, and without me having to raise the issue the first place.


Don't be mad. Be happy! It's a new year! 



ssimps said:


> ...but I'm not an admin of this form


This.



ssimps said:


> Another thing my dad used to say all the time: "Something that seems too good to be true usually is."


I respect your father and that saying. I'm positive that he was quite wealthy.


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## ssimps (Dec 8, 2009)

Rickson9 said:


> >> Quote ssimps: "...but I'm not an admin of this form"
> 
> This.


Did I say I was a site admin in this post? No. 
Are you ignoring admin emails? Maybe?



Rickson9 said:


> I'm positive that he was quite wealthy.


What this has to do with anything I'm not sure, but since I'm in a chatty mood....

No he is not; he would be considered middle to middle-upper class I guess, but definitely not 'wealthy'. 

When I said 'used to say' I was referring to when I was growing up, he is still alive I am happy to report (really).

Never received 1 cent from my dad other than him paying for the flowers at my wedding. This is of course not counting him buying me food, cloths etc,. until I could start making $ myself by mowing lawns, house sitting, kid sitting, and selling crap from those magazines you would go door to door with, to start.

That was another lesson he taught me from an early age: 'you want something, you make money and save for it'. Like I mentioned before, that included school.

He also taught me to be honest; not always to someones advantage these days I guess.


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## Berubeland (Sep 6, 2009)

Congratulations Rickson on your new job hawking seats to your seminar for $500 per pop. 

I wish you the greatest success in the new year it's a great gig  I hope you sell lots of seats and make lots of money. I hope everyone on this forum makes a mint as well.

I also hope you buy lots of great cheap properties in the States and be careful don't get ripped off. That's it. 

Happy New Year All


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## Rickson9 (Apr 9, 2009)

Berubeland said:


> Congratulations Rickson on your new job hawking seats to your seminar for $500 per pop.
> 
> I wish you the greatest success in the new year it's a great gig  I hope you sell lots of seats and make lots of money. I hope everyone on this forum makes a mint as well.
> 
> ...


Thank you Berubeland. 

The honest truth is that others on this forum, by their posts, have done more to promote me than I could have possibly done myself and I an sincerely grateful for that.

I wish you well in the new year.


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## Rickson9 (Apr 9, 2009)

ssimps said:


> Did I say I was a site admin in this post? No.
> Are you ignoring admin emails? Maybe?


Did I ask if you were a site admin? No.
Am I ignoring admin emails? No.



ssimps said:


> What this has to do with anything I'm not sure, but since I'm in a chatty mood....
> 
> No he is not; he would be considered middle to middle-upper class I guess, but definitely not 'wealthy'.
> 
> ...


He sounds wealthy to me.

Best regards.


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## ssimps (Dec 8, 2009)

Rickson9 said:


> He sounds wealthy to me.


Based on....?

I think you want him to be, he wants to be too, who doesn't I guess.  

Again though, what does the amount of $ my dad has have to do with anything related to this forum? I'd like you to actually answer this question and not ignore it like you do most of the time you are asked something you don't want to answer because it may reveal your real motives.

I think it is just another sign that to you think a person is a 'better' person if they have $. This is farthest from the truth. Maybe you will feel less of a need to make people think you are rich, even if you maybe really are not, once you get this.

It is a shame that I feel the need to spend so much time replying to your 'stuff' and trying to highlight to people that you may not be who you advertise you are. I just don't want someone to possibly get ripped off from a member of a forum that is supposed to exist to really HELP people. But I guess this may help someone in the end.

I'm just getting tired of it.



Rickson9 said:


> Thank you Berubeland.
> 
> The honest truth is that others on this forum, by their posts, have done more to promote me than I could have possibly done myself and I an sincerely grateful for that.


Promoting you as a [some words I'm probably not allowed to use on the forum] and as a possible fraud, yes. Good for you, I'm not sure about that.


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## Spidey (May 11, 2009)

I'm not overly interested in US real estate, for many of the reasons that Berubeland mentioned. However, it does appear that there are some interesting opportunities that would be interesting if they were discussed on this or another thread. For example, after looking at Garth Turner's blog, I searched real estate in Fort Lauderdale Florida. It appears that you can purchase a reasonably new bungalow for about $125,000. Now compare this to a Canadian cottage or vacation home which would probably go for $280,000 plus. An apples to oranges comparison, I know, but just speaking from a usage perspective -- the Florida home would be available to enjoy all year round, whereas a Canadian recreational property is typically only useful during the summer. Another possibility -- retirees could perhaps decide to sell their, say $360,000 home and then purchase a $230,000 townhouse plus the Florida home.


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## HaroldCrump (Jun 10, 2009)

ssimps said:


> Based on....?
> 
> I think you want him to be, he wants to be too, who doesn't I guess.


I suggest let it go - that remark was most probably a sarcasm or a taunt.


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## ssimps (Dec 8, 2009)

Spidey said:


> I'm not overly interested in US real estate, for many of the reasons that Berubeland mentioned. However, it does appear that there are some interesting opportunities that would be interesting if they were discussed on this or another thread. For example, after looking at Garth Turner's blog, I searched real estate in Fort Lauderdale Florida. It appears that you can purchase a reasonably new bungalow for about $125,000 -- the Florida home would be available to enjoy all year round, whereas a Canadian recreational property is typically only useful during the summer. Another possibility -- retirees could perhaps decide to sell their, say $360,000 home and then purchase a $230,000 townhouse plus the Florida home.


This is interesting information. In one way it could make sense. 

Issues I see are that you would have to pay a fare amount to go to it each time you did, and unless you get a lot of time off, or are retired, how much time would you really get from it. 

I guess you could rent it out when you are not at it; but how many rentals are already available and what would the cost be to have a management company take care of it for you.

These are all Q's that would be nice to research and post details (for free).

In contrast, we have a cottage within 1 hour drive from where we live on a lake; we start going in April and stop in October. We go every weekend other than a couple and I take my non-Xmas holiday weeks off there during the summer. No fees other than property tax and $25 / year road fee (private road). And we could rent it if we wanted to, but we don't at this point at least.


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## ssimps (Dec 8, 2009)

HaroldCrump said:


> I suggest let it go - that remark was most probably a sarcasm or a taunt.


I agree I should let it go.


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## pantograph (Apr 6, 2009)

ssimps, just ignore him. His blowhard flackery isn't going to stop unless the admins decide that isn't what CMF is for. There is no sign that they care.


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## ssimps (Dec 8, 2009)

pantograph said:


> ssimps, just ignore him. His blowhard flackery isn't going to stop ....


I'm trying, but it is hard. 



pantograph said:


> .... unless the admins decide that isn't what CMF is for. There is no sign that they care.


Unfortunately you seem to be right, and I find this kind of depressing. It also surprises me a bit given the other excellent sites the admins have worked hard at building up and all the honest help they have given people.


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## dogcom (May 23, 2009)

Ssimps part of the forum for me is learning how to deal with people and not get pulled into situations that you now find yourself in. I find it to be a challenge to deal with these situations and still get a piece of my foe without looking bad. I have to be careful though because I can be quite the piss off artist. But don't worry about it I find you to be interesting and entertaining at times.

Going back to the US real estate another place to look at is Vegas there are tons of foreclosures and I have seen 4-5 bedroom good homes for under $100,000 but of course that was on the internet. One would need to go there check it out, watch for unpaid or high taxes and making sure there are no hidden debts to worry about.


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## ssimps (Dec 8, 2009)

dogcom said:


> Ssimps part of the forum for me is learning how to deal with people and not get pulled into situations that you now find yourself in. I find it to be a challenge to deal with these situations and still get a piece of my foe without looking bad. I have to be careful though because I can be quite the piss off artist. But don't worry about it I find you to be interesting and entertaining at times.
> 
> Going back to the US real estate another place to look at is Vegas there are tons of foreclosures and I have seen 4-5 bedroom good homes for under $100,000 but of course that was on the internet. One would need to go there check it out, watch for unpaid or high taxes and making sure there are no hidden debts to worry about.


Thank you for your level headed feedback (I really mean that) and the other info as well. I'm learning how to handing what I guess is the inevitable bad apple in every forum as I go, and am often quick to the reply trigger. 

This is the first forum I have really actively participated in, so sorry if you are observing my learning process. 

Now let me tell you why I ........ just kidding, have a good night.


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## dogcom (May 23, 2009)

Your welcome ssimps and I actually enjoy observing the learning process and the debate you guys are having. But that is me because I like the action. This is also something for me to control when investing and that is the urge to trade to get into the action.


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## Berubeland (Sep 6, 2009)

Spidey I agree with you there are interesting investment opportunities. 

I have done quite a bit of looking albeit from here. As Rickson pointed out I do not have any dough to buy a second home or even shop for one south of the border. I did look on behalf of a few clients and I could not find what they were looking for. 

But my husband is a US citizen so I had considered buying something later. 

I will try in the next few days to collate a list of web sites and information sites for those that are interested. Maybe a few of us can work together each state has very different laws.


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## ssimps (Dec 8, 2009)

Berubeland said:


> I will try in the next few days to collate a list of web sites and information sites for those that are interested. Maybe a few of us can work together each state has very different laws.


I would be up for helping with this idea; I just need someone (you?  ) to point me in the right direction.


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## steve_jay33 (Aug 29, 2009)

Rickson9, I applaud your patience with this thread and others on this forum

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Buy low sell high.

Hint: Most people avoid buying when low and buy high.

-----------------

Best piece of advice you can give anyone.


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