Semi-famous Surfer Real Estate Thread

bluemarlin04

Michael Peterson status
Aug 13, 2015
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You can always tell the real estate bubble is close to popping when all the biggest dumbasses you know start becoming realtors (no disrespect to realtors who are not dumbasses) or speculative investors.

Just a random thought not particularly related to this exact thread topic but still relevant.
I know a couple guys who just became realtors who are easily the biggest idiots I know
 

bluemarlin04

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Aug 13, 2015
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I could be wrong because I know nothing about real estate, but it seems like you could be incredibly dumb and still make a ton of money. Seems to be all about networking, schmoozing, and people skills.
Probably.

But I also think there is a few making lots of money and a lot barely making any.
 

Pig Benis

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Oct 16, 2002
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Seems to be all about networking, schmoozing, and people skills.
Everybody can be coached to be better than they are re sales, but a lot of the above, you are either born with or you're not. Nature not nurture. IMHO. And of course the barrier to entry is low. Nobody is paying you a salary. Straight commission. Sink or swim. Most sink. But I know a few very smart people who have been wildly successful in real estate. They generally start buying houses themselves. Investment/income/flip them. The really good deals never hit the open market. In years past I read that most of the world's great fortunes were made in real estate. I don't think that's true anymore, but I'm sure you can still build a mini empire for yourself.
 

silentbutdeadly

Duke status
Sep 26, 2005
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I know someone who got into it 1.5 years ago and at first I questioned his career change. He's absolutely killing it.

OTOH I know a guy that just screams realtor to me that got in around the same time and he's struggling.

weird.
 

r32

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Met a guy in Nica. He was an elementary school teacher in FL. He quit his job, moved to Nica and became a real estate agent. This was in the mid 90s.

Within five years of selling real estate in Central America, he banked a few million in cash and had houses on the beach at some of the best surf spots around.
 

bluemarlin04

Michael Peterson status
Aug 13, 2015
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Everybody can be coached to be better than they are re sales, but a lot of the above, you are either born with or you're not. Nature not nurture. IMHO. And of course the barrier to entry is low. Nobody is paying you a salary. Straight commission. Sink or swim. Most sink. But I know a few very smart people who have been wildly successful in real estate. They generally start buying houses themselves. Investment/income/flip them. The really good deals never hit the open market. In years past I read that most of the world's great fortunes were made in real estate. I don't think that's true anymore, but I'm sure you can still build a mini empire for yourself.
I own a spot about 10 min walk from Kailua beach. I rent it out easily to tenants. Worth prob double what I owe on it.

That property will never leave my hands.

And I am a pretty average dude.
 

LelandCuz

Billy Hamilton status
Mar 21, 2011
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Lahaina
I just found out my friend and fellow kite surfer who lives just up the road from it is the listing agent for the Naish estate. How I'd love to have that property. Robbie's new house is next door to my other buddy. It's nice but modest and on a non-descript lot mauka of the highway. Divorce is a bitch.
Screenshot_20210504-213530_Samsung Internet.jpg
 

oneworlded

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chrisdixonreports.com
He made one of the most insane plays on the financial markets, ever.
I was working as a reporter here in Charleston - after having moved from Laguna in part because of insane real estate prices. I very specifically remember doing some research on the R/E market here and told my wife, 'we really should not buy yet. There's no way this city's economy can support these valuations.' So we waited, and were, as a result, able to afford a house on the water near the beach in a killer surfer neighborhood after the sh!t hit the fan. It was plain as day to me. I wish I'd known about Credit Default Swaps at that time. I remember thinking to myself - I wish there was a way to invest in something that bets against all this craziness. But of course, I had no clue how to do that.
 

r32

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I was working as a reporter here in Charleston - after having moved from Laguna in part because of insane real estate prices. I very specifically remember doing some research on the R/E market here and told my wife, 'we really should not buy yet. There's no way this city's economy can support these valuations.' So we waited, and were, as a result, able to afford a house on the water near the beach in a killer surfer neighborhood after the sh!t hit the fan. It was plain as day to me. I wish I'd known about Credit Default Swaps at that time. I remember thinking to myself - I wish there was a way to invest in something that bets against all this craziness. But of course, I had no clue how to do that.
Two things come to mind.

1. EVERYONE I knew was aware it was a huge bubble. Nobody was aware of how the bubble would collapse but housing prices were shooting up so fast, everyone knew it was it was unsustainable.

2. Even though everyone I knew was aware of the bubble, NOBODY knew how to profit from it. Do they sell their house? Do they stay in it? Do they refinance? Do they short the market? If so, how? I was unaware of how to do shorts back then. And most certainly, no average joe knew of default credit swaps.
 

oneworlded

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Two things come to mind.

1. EVERYONE I knew was aware it was a huge bubble. Nobody was aware of how the bubble would collapse but housing prices were shooting up so fast, everyone knew it was it was unsustainable.

2. Even though everyone I knew was aware of the bubble, NOBODY knew how to profit from it. Do they sell their house? Do they stay in it? Do they refinance? Do they short the market? If so, how? I was unaware of how to do shorts back then. And most certainly, no average joe knew of default credit swaps.
Yeah, to remember the craziness, I just watched The Big Short again last nite. Fascinating flick - and they did an a remarkably creative job of explaining how CDSwaps worked - and didn't work. The acting in that flick was just great.
 

TangTonic

Nep status
Feb 24, 2011
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This guy does an excellent job explaining CDS and the looming worldwide problem on the horizon.

 

Muscles

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Jun 1, 2013
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The last bubble is not like the current RE market.

They verify everything. The issue is people with lots of money are finding ways to move out of city centers. Everything seems like a bargain when you leave the bay area.
 
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_____

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Sep 17, 2012
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I have a feeling people will be protesting/rallying for "stimulus packages" whenever petty "tough times" go down. You've got a generation of 18-20somethings, and a good portion of them with an intro to the real world being free money, and these days, if you want to be elected, you gotta please these kinds of people.