Comments on: Vulture Investing: Buying the Joneses Stuff at Half Price! http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/ A Personal Finance & Investing 101 blog that delves into current events, consumer education, and techniques to improve your bottom line. Sun, 21 Mar 2010 03:40:47 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Matt SF http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-6370 Matt SF Tue, 03 Nov 2009 15:36:34 +0000 http://steadfastfinances.com/blog/?p=248#comment-6370 $1M isn't a bad start up number, but I suppose it all depends on what properties you're going after and the annual cash flow numbers. But if you can start with 3 properties, that's still saying something fairly substantial considering you can build cash flow and a good business rep. I'm sure GE or Berkshire Hathaway wasn't built in a day! ;) $1M isn’t a bad start up number, but I suppose it all depends on what properties you’re going after and the annual cash flow numbers. But if you can start with 3 properties, that’s still saying something fairly substantial considering you can build cash flow and a good business rep.

I’m sure GE or Berkshire Hathaway wasn’t built in a day! ;)

]]> By: Financial Samurai http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-6361 Financial Samurai Tue, 03 Nov 2009 13:16:15 +0000 http://steadfastfinances.com/blog/?p=248#comment-6361 I'm actually trying to start a "Vallejo Freedom Fund" to scoop up a lot of junk properties, but only have about $1million in capital interested in investing. The problem is to buy investments, you need 30-40% down, so my leverage isn't going to be that great. Need big bucks to make big money, otherwise, why bother. Easy to make a lot more money just working. I’m actually trying to start a “Vallejo Freedom Fund” to scoop up a lot of junk properties, but only have about $1million in capital interested in investing. The problem is to buy investments, you need 30-40% down, so my leverage isn’t going to be that great.

Need big bucks to make big money, otherwise, why bother. Easy to make a lot more money just working.

]]> By: How I Find Value Where Others Do Not | Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-6342 How I Find Value Where Others Do Not | Steadfast Finances Tue, 03 Nov 2009 04:38:40 +0000 http://steadfastfinances.com/blog/?p=248#comment-6342 [...] being a vulture investor. They have the option of swooping in when a good value becomes available, making an investment at a minimal price compared to what it may have been years ago, and manage to turn a profit where others could not or [...] [...] being a vulture investor. They have the option of swooping in when a good value becomes available, making an investment at a minimal price compared to what it may have been years ago, and manage to turn a profit where others could not or [...]

]]> By: Sometimes the Hardest (and Wisest) Thing to Do is to Do Nothing | Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-2894 Sometimes the Hardest (and Wisest) Thing to Do is to Do Nothing | Steadfast Finances Sun, 21 Jun 2009 01:44:53 +0000 http://steadfastfinances.com/blog/?p=248#comment-2894 [...] Vulture investors function in a similar manner, where they can swoop in, buy up the assets at a fraction of the cost while providing somewhat of a benefit to those holding the desired asset (e.g. real estate selling [...] [...] Vulture investors function in a similar manner, where they can swoop in, buy up the assets at a fraction of the cost while providing somewhat of a benefit to those holding the desired asset (e.g. real estate selling [...]

]]> By: 5 Lessons Potential Home Buyers Can Learn from Median Income vs Median Home Price | Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-2161 5 Lessons Potential Home Buyers Can Learn from Median Income vs Median Home Price | Steadfast Finances Fri, 24 Apr 2009 03:39:38 +0000 http://steadfastfinances.com/blog/?p=248#comment-2161 [...] if you’re a potential home buyer, or perhaps a savvy vulture investor with the liquidity to snap up some of these bargains, the deals are becoming more and more [...] [...] if you’re a potential home buyer, or perhaps a savvy vulture investor with the liquidity to snap up some of these bargains, the deals are becoming more and more [...]

]]> By: What Does Mark To Market Accounting Mean For You and Your Home’s Value? :: Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1836 What Does Mark To Market Accounting Mean For You and Your Home’s Value? :: Steadfast Finances Thu, 12 Mar 2009 22:32:25 +0000 http://steadfastfinances.com/blog/?p=248#comment-1836 [...] investors are bargain hunting.  Any number of vulture real estate investors have the opportunity to sweep in buy those foreclosed homes at deep [...] [...] investors are bargain hunting.  Any number of vulture real estate investors have the opportunity to sweep in buy those foreclosed homes at deep [...]

]]> By: 20 Reasons Why I Love the Recession :: Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1699 20 Reasons Why I Love the Recession :: Steadfast Finances Wed, 04 Mar 2009 04:13:48 +0000 http://steadfastfinances.com/blog/?p=248#comment-1699 [...] Vulture investing opportunities are everywhere.  Whether it’s buying a one year old SUV at half price or a foreclosure at 25% off, everyday people who saved more than they spent see the current economy as one large garage sale. [...] [...] Vulture investing opportunities are everywhere.  Whether it’s buying a one year old SUV at half price or a foreclosure at 25% off, everyday people who saved more than they spent see the current economy as one large garage sale. [...]

]]> By: How Important is Credit? Just Ask the Bank Stocks! :: Steadfast Finances http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1539 How Important is Credit? Just Ask the Bank Stocks! :: Steadfast Finances Wed, 18 Feb 2009 03:05:38 +0000 http://steadfastfinances.com/blog/?p=248#comment-1539 [...] that no one is buying anything, except for vulture investors like me who are buying everything at half price, the economy will just sit stagnant or keep getting [...] [...] that no one is buying anything, except for vulture investors like me who are buying everything at half price, the economy will just sit stagnant or keep getting [...]

]]> By: Matt http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1436 Matt Wed, 11 Feb 2009 01:46:33 +0000 http://steadfastfinances.com/blog/?p=248#comment-1436 @ SimplyForties Amen! It's the only good thing I can say about this whole mess. Even if I'm an unwilling shareholder of GM, Citigroup, Bank of America, at least I'm getting a deal on Mr. and Mrs. Jones' stuff. @ SimplyForties

Amen! It’s the only good thing I can say about this whole mess. Even if I’m an unwilling shareholder of GM, Citigroup, Bank of America, at least I’m getting a deal on Mr. and Mrs. Jones’ stuff.

]]> By: SimplyForties http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1434 SimplyForties Wed, 11 Feb 2009 01:11:52 +0000 http://steadfastfinances.com/blog/?p=248#comment-1434 Cash in hand is certainly king these days. Whether you are buying from failing retail stores or from the Joneses, there's no reason to feel guilty. There are some great deals out there! Cash in hand is certainly king these days. Whether you are buying from failing retail stores or from the Joneses, there’s no reason to feel guilty. There are some great deals out there!

]]> By: Dollar Frugal » Blog Archive » Carnival of Personal Finance - Wizard of Oz Edition http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1407 Dollar Frugal » Blog Archive » Carnival of Personal Finance - Wizard of Oz Edition Mon, 09 Feb 2009 11:10:27 +0000 http://steadfastfinances.com/blog/?p=248#comment-1407 [...] SF has a great article about how to save if you have cash on hand.  There are definitely deals to be [...] [...] SF has a great article about how to save if you have cash on hand.  There are definitely deals to be [...]

]]> By: Matt http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1302 Matt Mon, 02 Feb 2009 23:47:08 +0000 http://steadfastfinances.com/blog/?p=248#comment-1302 @ Darwin I like that tactic, and I've only tried that once. It was a Best Buy just before closing and they had a used office chair on display. Got it for about 20% off b/c it had a few scratches on it, but was perfectly fine other than the aesthetics. I think your idea is certainly worth a few days thought if the bill gets pushed through. I'm not sure if we're at a bottom or not, but making a few investments along the way down is probably the best way to play it. @ Darwin

I like that tactic, and I’ve only tried that once. It was a Best Buy just before closing and they had a used office chair on display. Got it for about 20% off b/c it had a few scratches on it, but was perfectly fine other than the aesthetics.

I think your idea is certainly worth a few days thought if the bill gets pushed through. I’m not sure if we’re at a bottom or not, but making a few investments along the way down is probably the best way to play it.

]]> By: Darwin's Finance http://steadfastfinances.com/blog/2009/01/30/vulture-investing-buying-the-joneses-stuff-at-half-price/comment-page-1/#comment-1297 Darwin's Finance Mon, 02 Feb 2009 22:13:02 +0000 http://steadfastfinances.com/blog/?p=248#comment-1297 You're right on that this recession is bringing on opportunities for people who have cash on hand. I've been using this tack with retailers, brazenly walking up to the manager and saying, "How much can you give me that item for below sticker?". In some cases, they cock their head and are shocked since they've never heard that question, but I counter, "hey, we're in a recession and you're not moving any inventory. how much will you discount that item for if I buy it tonight?". I've been holding some cash for a while for a real estate purchase. If this 4% mortgage rate in the stimulus package goes through, I may just have to unload a piece of real estate off someone who was overleveraged and got called as well. While I can't take credit for fully "shorting the financials" or unloading my 401k into money markets a year ago, I'm glad I have ample cash on hand to exploit good opportunities when they come along. You’re right on that this recession is bringing on opportunities for people who have cash on hand. I’ve been using this tack with retailers, brazenly walking up to the manager and saying, “How much can you give me that item for below sticker?”. In some cases, they cock their head and are shocked since they’ve never heard that question, but I counter, “hey, we’re in a recession and you’re not moving any inventory. how much will you discount that item for if I buy it tonight?”.

I’ve been holding some cash for a while for a real estate purchase. If this 4% mortgage rate in the stimulus package goes through, I may just have to unload a piece of real estate off someone who was overleveraged and got called as well.

While I can’t take credit for fully “shorting the financials” or unloading my 401k into money markets a year ago, I’m glad I have ample cash on hand to exploit good opportunities when they come along.

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