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I was going to ask you to explain bonds, but then you just did, so never mind that. Jim:If anybody steps forward and tells you that they could do that for you, Mindy, I would shut down the microphone and close my ears. There are 105 years, and I was thinking about this, do you know when the stock markets started? Jim:Well, the very first stock market was in the Netherlands, in Holland in like the 1500s.
Mindy:We have a long-recorded history of it starting in 1915 on this link that I will share in the show notes. You own the economic power of the United States, and everybody in those companies from the factory floor to the CEO is working to make you richer and to beat the competition. And I know people, I have friends by the way, who believe that civilization is going to end and they are out building off the grid houses in remote areas. If you believe that this disease, this Coronavirus will be solved and controlled at some point, then the market will go back up. So the idea that something of that nature happening are a whole lot more remote than they were back then.
When did they discover you had to wash your hands between patients?
They used a certain, used to cut people open without bothering to clean their hands between surgeries? You had a tweet the other day that I thought was just so brilliant and then I read your Mr. This market crash is not any different, just like you said it.
What are the odds that every other country in the world is going to be more immune than America is? That certainly would have been the end of both those countries. Presumably, they have expressed their ideas as clearly as they know how. If you want to keep buying individual stocks, then buy individual stocks, it just makes a better market. In fact, the fewer people who follow my path, the better off I am personally.
So if you want unsecured personal loans bad credit ok to go pick individual stocks, if you want to sell your stocks in a panic and drive the market down so I can buy it cheaper, you go for it. And my favorite investment vehicle is VTSAX or VTI through Vanguard and put as much as you can in it, whenever you can.
Be like Mindy- Jim:Other than putting the money in. And then stay they invested forever and just draw up a little bit you need when the time comes to live on it. Well, I know we can find this as well on the show notes for episode 20 at biggerpockets.
Mindy:Okay, Scott, that was Jim Collins from JL Collins NH, the author of The Simple Path To Wealth. Mindy:Well, and over the very long term I think is a really great point.
I am not in the stock market so that I can cash out tomorrow.
But the fear that an investor has in that environment is, "Hey, is my cashflow going to evaporate?
And what am I going to do to sustain this property? Scott:But bring in appropriate reserve and consider that part of your investments. Scott:And that allows me to stay in the market forever. I can sell, I can refinance, I can buy more, but I am trying to apply the exact same long longterm philosophy. The whole reason we started this podcast is because the number one question that we would get in the forums is, "How do I start investing in real estate with no money and bad credit?
So if you have no money, you should also not be in the real estate market at this time. Mindy:All these things are going to have ripple effects. What happens if your otherwise great tenant loses their job? I think with this, Mindy and I are extremely payday loans low interest passionate about helping you guys succeed financially over the long term. If loan for vacation land you have worries, find us on the Facebook Group, at BiggerPockets Money. I want to make sure that if this is a recession, if this is a painful problem for people, that we are personally privately as individuals, there to help you if you have questions or that the group is there for you, the Facebook Group, BiggerPockets forums. Scott:This is where we want to be helpful and where we want to be useful. We want you to succeed and have a successful financial outcome. Stay the course, continue that journey to financial freedom. They have questions, they have answers to your questions.
And if it was worth it to you to buy the thing at X dollars three weeks ago, it should be even more worth it to you to buy it now at its current lower price. Now is a great time to consistently but not to aggressively work towards your longterm investing and financial goals.
Now is a great time to not spend more than you earn, to continue to keep control of your budget, and to continue to work very hard at your job, and continue to pile up that cash and invest it appropriately in index funds, real estate or whatever it is that you decide to invest it in. From episode 116 of the BiggerPockets Money Podcast.
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Economists predict it may take until 2023 to recover all of the jobs lost to the COVID-19 recession and government response.
Capitalism is great—but an extreme concentration of wealth is not.
Both tenants and landlords are facing challenges during the pandemic.
What can landlords with struggling tenants do to lighten their load? The market may seem tempting right now, but here are five reasons to wait on your real estate investing in light of potential hazards ahead. Coronavirus has changed every industry—many times in unexpected ways. Being home more often has advantages—like seeing family more often. It also has disadvantages—like seeing family too often. When she turned her phone off for a few days, hung out with friends, and spent time in nature, she realized that she wanted more freedom in her life.
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She also talks about the different types of funding she used in order to get them under contract, including conventional loans, HELOCs (home equity lines of credit), and commercial loans. Christie Lesage:I literally think I said I was going to quit my job August 27th or 28th before we even had a house under contract, it was in my mind. Ashley:My name is Ashley Kehr and I am here with my co-host, Tony Robinson. We personal loans san antonio tx just had to do a retake because I almost called him Tommy boy. Tony, we have had a couple of rookie reply episodes out now, and I want to know how everyone is liking them. You hit up Ashley, hit me up on Instagram or in the Rookie Real Estate group on Facebook, local loan companies for bad credit but now let us know what you guys think. We have Christie on, and she set her mind out knowing she just wanted to quit her W-2 job with really no plan in place.
So what she did was she found real estate and figured out how that would work for her. Christie Lesage, welcome to the Real Estate Rookie. But before we get into all the meat and potatoes, just tell us 200 same day loans a little bit about you. Christie Lesage:My story started a couple of years back, first american loans but it was definitely a slow burn.
Real estate was not the initial answer for me at all. I was in the 9:00 to 5:00 corporate world, working for Hilton with, I would call it a nice cushy sales job because hotel sales at least pre pandemic was pretty fun. You were always entertaining clients and doing fun stuff, going out, eating and drinking.
So definitely had a very, very nice corporate world job and was pretty happy with it. And it really, I guess started right when I went on this three-day backpacking trip with my girlfriends to Yosemite. And I just remember having like the best time of my life, being out in the wilderness and really just taking it all in, having your phone off.