Official Investing Thread

Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.

  1. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    So it's my own version of TLC's hit series Flip or Flop except I can do it from my couch?
     
  2. Baseballman86

    Baseballman86 Well-Known Member
    Alabama Crimson TideAtlanta BravesAtlanta Falcons

    Yes, that's exactly how I view it. Basically Prosper or Lending Tree but for real estate flips. I'm not sure what sort of qualifications they require from those seeking the loans. Each investment option gives you a little rundown of what they are trying to do, whether a full on build from scratch or just a light 3 month rehab and flip.
     
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  3. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    Individual stocks
    ETFs
    REITs
    Crypto
    Group investing in collectible assets (Rally Rd)
    Sports gambling
    Horse racing

    Why not add Groundfloor for a little diversification?
     
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  4. Arliden

    Arliden Well-Known Member

    Seems like a different spin to LendingClub
     
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  5. Frankie Carbone

    Frankie Carbone eh che se dice
    Florida State SeminolesNew York YankeesNew York KnicksTampa Bay BuccaneersOrlando CityLazio

    Have you had any concerns or issues since you first started? Seems too good to be true
     
  6. BUstang

    BUstang Lawyer

    Taking a flyer on RKT 5/21 $26c. Also got some AMD 5/21 $84c this morning.
     
  7. Baseballman86

    Baseballman86 Well-Known Member
    Alabama Crimson TideAtlanta BravesAtlanta Falcons

    Precisely
    nothing at all yet, but to be fair, the housing market is in ATH territory so I wouldn't expect problems. When/if things turn I'd be concerned
     
    Frankie Carbone likes this.
  8. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    JFC muppet, I wasn’t bragging, I thought it was cute my old man was banging away at financial message boards and deep diving into stocks, explaining cyclicals to me like I’m 5 and thinking seekingalpha is this hot new undiscovered source of information. That said, he’s been trading oil and gas for decades and hasn’t hasn’t worked since he was 40.

    Me? I worked two years after college and “bootstrapped” my real estate career at 23, right before the crash, and grew it into a multi million dollar portfolio. I haven’t worked a real job in over a decade, am worth well more than you, and never had any help - I got an inheritance well after I had already made my first million. Good luck with your venture, I hear it’s a growth industry, I’m sure you’ll find a lot of success giving sleepy truck drivers midnight pep talks.
     
  9. Bo Pelinis

    Bo Pelinis WE GO HARD ON EARTH
    Donor TMB OG
    Nebraska CornhuskersBig 8 Conference

  10. ohhaithur

    ohhaithur e-Batman
    Donor

    I love that any time I read
    I know eventually I'll get to
     
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  11. Bo Pelinis

    Bo Pelinis WE GO HARD ON EARTH
    Donor TMB OG
    Nebraska CornhuskersBig 8 Conference

    Also I'm sure the O&G trading father that hasn't had to work a job since he turned 40 had nothing to do with anything.
     
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  12. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    this post was so funny i still remember it vividly
     
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  13. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    similarly in that vein was Shu talking about inheriting like 8 million in real estate from his aunt and how difficult it was
     
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  14. Whammy

    Whammy Look kids, Parliament!
    Donor
    Alabama Crimson TideVanderbilt CommodoresNew Orleans SaintsChicago BlackhawksAtlanta United

    Is that real


    2518091C-9280-4AAD-99FE-93CE987DC38B.gif
     
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  15. ohhaithur

    ohhaithur e-Batman
    Donor

    Why did you cut off "My life has been easy peasy" :laugh:
     
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  16. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    lil arrow on the post will take you to the original
     
  17. Bo Pelinis

    Bo Pelinis WE GO HARD ON EARTH
    Donor TMB OG
    Nebraska CornhuskersBig 8 Conference

    Oh it's definitely real. You know when I think of difficult things I think of inheriting 5MM in land. Very difficult to sell land, you know. Nobody wants the stuff.
     
  18. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    i also cut off him saying the poster he was responding to "lacked self awareness"

    this was not my greatest copy edit job
     
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  19. Whammy

    Whammy Look kids, Parliament!
    Donor
    Alabama Crimson TideVanderbilt CommodoresNew Orleans SaintsChicago BlackhawksAtlanta United

    Your old money comment started this, now that everyone is piling on you’re making me out to be the attacker.

    It was a douchey, cringey thing to say. Moving on
     
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  20. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
    Donor
    Auburn TigersAtlanta BravesAtlanta FalconsChelseaAtlanta United

    Imagine calling that “difficult”

    Probably most of the people on this board had it harder than that and are still extremely privileged.
     
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  21. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    i boot strapped my career with a few loans fresh out of college to invest in real estate*

    *co-signed by my generationally wealthy parents

    i never had any help at all
     
  22. ohhaithur

    ohhaithur e-Batman
    Donor

    I grew up just above "poor" and I still can recognize that I had help because:
    • Taxpayers paid for public schools for me to go to
    • I had family friends help me get internships
    • I was able to pay down debts and take risks because if something went wrong I would have a couch to sleep on while I got on my feet
    There's no such thing as self-made and it takes tremendous chutzpa to claim you were...especially when you inherited millions
     
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  23. Bo Pelinis

    Bo Pelinis WE GO HARD ON EARTH
    Donor TMB OG
    Nebraska CornhuskersBig 8 Conference

    I went to an elementary school where my best friend's parents were 15 and 16 years old when he was born. I was one of the "rich" kids (lower middle class) because both my parents had jobs and I wore clean clothes all the time.

    People born on third who pretend they hit a home run bother the fuck out of me.
     
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  24. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    as someone who was born into lower middle class and my parents juuuust hit escape velocity from middle class as they retired but who also interacts with TONS of 1%'ers it's maybe my biggest pet peeve

    the in-group signaling and class propagation myths the 1% tell themselves and each other are baffling to anyone who doesn't exist exclusively in their bubble
     
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  25. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
    Donor
    Auburn TigersAtlanta BravesAtlanta FalconsChelseaAtlanta United

    I'm kind of the opposite, my parents both came from extremely comfortable situations and I think kind of just assumed life would always be that easy. Turns out they were wrong.

    Having done the first half of my life having an absurd financial advantage over everyone and then watching it evaporate before I made it out of college has me feeling the same way about those people patting themselves on the back for turning 10 million into 9 million over 10 years.
     
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  26. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    It was clearly a joke, your salty ass reaction was not. Deal with it.
     
  27. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    About as much as any of you I imagine. Got a scholarship to play football at St. Francis, transferred to IU soph year, paid my way with part time jobs/summer jobs. Graduated with no debt.


    Literally didn’t happen. You fill in the blanks with what you want to believe. I worked two years in software sales, saved every dime, bought my first property for < $30k cash, rehabbed it on my own, 12-16hrs a day for ~3mos, substitute taught and coached football for a few years while I acquired more properties. I didn’t even take out a loan until I already had six properties, and always in my name.

    My life has been easy peasy compared to a legitimate disadvantaged person, but most of you are middle class, educated, white - anything I’ve accomplished is well within reach for most of you - it’s pretty amazing how often middle class educated white males from the south throw a pity party for themselves on this board.
     
  28. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    Inheritance impacted my life in no discernible way. I’d be in the exact same spot I am now without it.
     
  29. ohhaithur

    ohhaithur e-Batman
    Donor

    I too was gifted $5m and didn't even notice for a few months
     
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  30. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    you just fill in the blanks with what you want to believe smdh

    also who is throwing a pity party? i mostly just chuckle at the narratives people write about themselves as this heroic protagonist of reality that they then project onto everyone and the entire world around them. it's a defense mechanism and if it wasn't so destructive it'd be adorable.
     
  31. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    Speaking more to developing it.
     
  32. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    Nothing heroic, just obvious. I took a chance and made it work, if it didn’t I’d be grinding business casual like everyone else. What I’d never do is argue the disparities between white /middle class/ educated are that significant to outcomes - if you can’t make that combination work I idk what to tell you.
     
  33. kinghill

    kinghill Well-Known Member
    Donor
    Miami HurricanesMiami MarlinsMiami DolphinsMiami Heat

    Congrats on all your success, Chumbolone.
     
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  34. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    you should read about how low social mobility is, not just from poverty upwards, but middle class up, or 1% down, etc

    but also it seems like you may not have even been socially mobile
     
  35. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    I’ll just take your words for it. Happy for all of you, genuinely.
     
  36. ohhaithur

    ohhaithur e-Batman
    Donor

    I didn't realize who user Chumbawumba was, my apologies for engaging
     
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  37. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    Glad you did, it’s always interesting to see the diverse backgrounds and circumstance people have overcome, like having a poor neighbor, or being almost poor.
     
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  38. Smuggy

    Smuggy Well-Known Member
    Alabama Crimson Tide

    Chumbolone i’m also pretty wealthy and have a couple thousand in my checking account. Let’s collaborate and make some money when my foot heals up.
     
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  39. NothingIsOT

    NothingIsOT Fuller is a sarcastic asshole
    Donor
    Miami DolphinsFlorida PanthersDetroit TigersMiami Heat

    Can we change subjects.

    Market sucks. I’m freakin bag holding hard on the semis ETF at $260, while I watch the friggin GAP is up 75% YTD.
     
    Sportfan likes this.
  40. burnttatertot

    burnttatertot Super Necessary
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsMetal

    Down another 5+% today, shit's gonna be free soon.
     
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  41. burnttatertot

    burnttatertot Super Necessary
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsMetal

    I can post another account update if you guys are interested.

    heh
     
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  42. Bo Pelinis

    Bo Pelinis WE GO HARD ON EARTH
    Donor TMB OG
    Nebraska CornhuskersBig 8 Conference

    DHMB more like Bootstrap Bill.
     
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  43. dukebuckeye

    dukebuckeye P.G.I.T
    Donor TMB OG
    Ohio State BuckeyesCleveland BrownsColumbus Blue JacketsCleveland CavaliersCleveland Indians

    I still haven’t pulled the trigger on that or his next recommendation SKLZ. Both were murdered today by 5%.

    I had a great day in my regular trading portfolio.
     
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  44. burnttatertot

    burnttatertot Super Necessary
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsMetal

    If it keeps dropping I might actually be interested in it.

    Glad someone had a good day, I was only up 0.11%. Damn Nasdaq.
     
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  45. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    Had this in the back of mind the last couple pages. So much salty cuntiness from people who blew the greatest lead in history.
     
  46. Chumbolone

    Chumbolone Well-Known Member
    Notre Dame Fighting IrishChicago CubsChicago BullsChicago BearsChicago BlackhawksChicago Fire

    I knew a kid on free lunch, AMA.
     
  47. burnttatertot

    burnttatertot Super Necessary
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsMetal

    there's free lunch?
     
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  48. burnttatertot

    burnttatertot Super Necessary
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsMetal

    my brother and I had 'reduced' lunch in school, it was a bit embarrassing. didn't know there was free lunch too.
     
  49. Frankie Carbone

    Frankie Carbone eh che se dice
    Florida State SeminolesNew York YankeesNew York KnicksTampa Bay BuccaneersOrlando CityLazio

    Definitely was a free one. Some of the food wasn’t too bad either. Chicken nuggets and Salisbury steak w/ the mashed potatoes were a couple of those on the menu that were on that preferred list.
     
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  50. Doc Louis

    Doc Louis Well-Known Member
    Donor

    I too forget to check the balance of my Christmas gift cards
     
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