Paul Meyer Buys Houses

wild market seems like. trading blind.

It seems since I got back from patrol in march 08′ that I’ve been the total slacker journaling in my market diary, practice trades, and just keeping up with my favorite stocks. I basically traded blind in April-May and got what I deserved losing my account. The market has been so wild. Like today FSLR down almost 40 pts in a month and specifically down -$15 today. GOOG has been moving up finally and it’s PEG of 1.00 deserves the stock to do so. A $600-700 price target looks really realistic with all the billions, new technologyies, and still growth. Then there is oil and energy stocks. It’s a no brainer oil stocks were going to move higher and pull back. Lastly theres big growth stocks like MA and V. I have to admit I was not trading V at the right time at $82 twice. When I saw is laying dead at $77 that was the right pull back price now currently hit $87 this move would have been plenty to earn 100% on, but I guess you keep learning and eating dirt along the way…

Still waiting to close. VA appraisers most be stereotyped to take forever to finish so now I have to wait the full amount which is June 6th supposedly to get my keys. My refinancing if everything goes smooth will be June 9th. My home was appraised at $117k in Virginia. I’m still happy with that with the markets fluctuating in housing industry. That’s still almost a 50% gain over 3 years on the purchase price. My home in Hawaii was appraised higher then the selling price so the appraiser knew it was worth well more then what I paid. Usually a home is only appraised at the loan value not more over while mine was appraised $10k over the purchase price meaning the true market value is around $60-80k in the money full of equity. This is pleasing in the chance that in a few years I could earn over $100k would be awesome if I did decide to sell. Even then I’m going to turn this into my dream home (or should I say apartment) so I might really end of loving it.

4 responses

  1. Mr. Entrepreneur

    Have you thought about flipping houses?

    June 3, 2008 at 3:10 pm

  2. no. i choose not to do this just because of time and money and I really have neither. this market isn’t for flipping houses right now. going up yes, but not with it coming down.

    i DO plan on selling my homes next cycle when they are worth even more then last peak. that will be close to retirement choice especially with my hawaii condo purchase.

    why do you flip houses?

    June 4, 2008 at 8:12 am

  3. Mr. Entrepreneur

    It’s something I’ve considered doing. I have a contractor who I know very well, that has said he’ll work for me exclusively if I chose to go into the house flipping business. I’ve looked at some properties, but I’m currently trying to gain further knowledge, while try to start my other business.

    June 5, 2008 at 2:28 am

  4. only pay your contractor after the job is done. TRUST ME. and start small not some million dollar properties like a stupid duschebag.

    if you start small its easy to sell and profit and move bigger quicker.

    June 5, 2008 at 6:31 am

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