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CU Guru [1059]
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Biggest fool on WCCP............
Oct 5, 2016, 9:50 AM
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We love to bash WCCP.
The biggest fool on WCCP has to be this Jason Dillard guy. He has an "infomercial" on the station talking about taking money from my IRA and buying houses with it. Says much more safe than the stock market, etc.
The two guys that were on last night were giving out so much bad information about market history, market returns, etc that it was embarrassing.
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Orange Blooded [2506]
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Generalized statement is general.
Oct 5, 2016, 9:56 AM
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Tell us what they said that I was wrong. I didn't listen but I have used my SDIRA to purchase a rental property.
No, I didn't use the Jason Dillard guy, he sounds like a crook. I just bought one outright and it way outperforms anything the stock market typically does.
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CU Guru [1341]
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Re: Biggest fool on WCCP............
Oct 5, 2016, 10:00 AM
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Not necessarily bad advice. I have several friends that had quite a bit of money in stock during the drop in 2008-09 and lost millions. They took most of their money out of stock and put it into land and other properties. Price of land very seldom goes down and if you have the time to wait 10,20,30 years for huge returns, it's well worth it.
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CU Guru [1059]
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Re: Biggest fool on WCCP............
Oct 5, 2016, 10:29 AM
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So your friends sold their stock after the financial crash and placed those funds in real estate??
If so, they sold at the absolute worst time and missed one helluva run back. I doubt that their real estate investments returned this much.
Historically, Real Estate (property) returns about 4%ish per year. Stocks in the 7-8% range over time.
Real estate is a fine way to diversify but I don't want the lions share of my investments there.
As to the radio show.........these guys make it sound like there is no risk in real estate. Kept saying that stocks can go down. Put your IRA into something with a fixed return, etc. As we know, real estate can (and will again) go down substantially. What happens if I loan these guys money for a house and it goes into default and/or foreclosure. Can I get my money back at any time? When I get my money back (eventually) is it 60 cents on the dollar?
I think I'll pass and stick to my high quality dividend paying stocks.
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Orange Blooded [2506]
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4%? Lulz... okay
Oct 5, 2016, 12:56 PM
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Are you talking about a 4% increase in value?
Even a decent rental property will operate in the 15-20% ROI range.
I'm not sure what part you're missing.
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110%er [5093]
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Re: Biggest fool on WCCP............
Oct 5, 2016, 10:34 AM
[ in reply to Re: Biggest fool on WCCP............ ] |
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If they had just left their money in the stock market they would have made it all back.
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Walk-On [122]
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Re: Biggest fool on WCCP............
Oct 5, 2016, 10:41 AM
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I would suggest that TNet is not your best place to get any type of financial advice. Stick to the pros.
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Orange Blooded [3290]
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Re: Biggest fool on WCCP............
Oct 5, 2016, 10:46 AM
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And I thought there was a Coot on!
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CU Medallion [64575]
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Gamecock Will is still the champ***
Oct 5, 2016, 10:49 AM
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Oculus Spirit [80224]
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I don't think that you understand the concept of what he is
Oct 5, 2016, 1:31 PM
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saying. He says that it's more safe because it's secured by real estate. Meaning that if you had money invested in stocks and the market plunged, you can't get that money back until the market recovers. However if you took funds in a self directed ira and used them to invest in real estate you would receive that locked in rate (whatever he was offering) the entire length of time (usually 1 year). If something happened and he could not pay you (whatever % interest was quoted) as promised then you would foreclose on him and own the home outright.
I've never invested with him, but have bought several rental properties this way and ROI has never been below 20%.
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Hall of Famer [24969]
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all the commercials are a disaster
Oct 5, 2016, 1:34 PM
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remember that one where that guy called people without disabilities "normal persons"
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Orange Blooded [2348]
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Some commercials are okay but the gas log commercial
Oct 5, 2016, 1:49 PM
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is just gag inducing. "Wife, I bought you some gas logs. Hey, what is this surprise? It's that fishing rod I wanted. I can't wait to go fishing! Thank you so much, honey."
I half expect Wilford Brimley to chime in with the Pepperidge Farm guy and some kind of Blue Bell ice cream jingle to start playing. Daddy's coming home from working so hard in his flannel shirt while Mommy has been home cleaning and taking care of the kids and has dinner ready for everyone. So contrived and awful.
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Hall of Famer [24969]
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the worst***
Oct 6, 2016, 1:51 PM
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