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michaelwise
04-15-2010, 01:20 AM
I was waiting for the housing bubble bust to completely unfold and if necessary do a Ruthless Acquisition before they had a chance to cut off all my credit, of which I had over 100k originally available, no debt, no job, and no income since 2006. I was living off of a capitol gain I made on a home I sold up north in mid 2004. I lived in my mothers basement waiting for the bust to reach max damage since then, and continued to study the markets on blogs like The Housing Bubble Blog, Housing Panic, Patrick.net, and others. Studying economics for 35 years has been a major hobby of mine the better part of my life. The credit card companies offered me 1.9% in mid 09, at which time my available credit was down to about 50k, so I took about 40K. Oh yeah, my friends and family used to say, if I'm so smart about the markets why don't I have a pot to piss in and live with my mother? I shut them up good and now have 2 pots of my own to piss in.

The ruthless acquisition I made using unsecured debt would make Goldman Sachs proud and without guilt because people like them helped do away with any semblance of moral hazard there may have been left. I bought a foreclosed house near the end of 2009 in Florida for 32K, 1900sf under air built in 2006 and originally sold for 311K that needed very little renovation, with the unsecured cash advances from the credit card companies. I knew I could do it with what I knew about the market but had no access to capitol from family or friends. So far I have been repaying the minimum balance on the cards but if they don't give me a 50k/year job soon, those card payments may stop. Oh well, a bankruptcy may be looming. Foreclosing on a fully paid off homestead in Florida by unsecured creditors is virtually impossible.

My story has many more wonderful details, but I'll leave it at this for now. The moral of the story, don't discount people living in their mother's basements. They can still surprise you.

psi2941
04-15-2010, 03:12 AM
I was waiting for the housing bubble bust to completely unfold and if necessary do a Ruthless Acquisition before they had a chance to cut off all my credit, of which I had over 100k originally available, no debt, no job, and no income since 2006. I was living off of a capitol gain I made on a home I sold up north in mid 2004. I lived in my mothers basement waiting for the bust to reach max damage since then, and continued to study the markets on blogs like The Housing Bubble Blog, Housing Panic, Patrick.net, and others. Studying economics for 35 years has been a major hobby of mine the better part of my life. The credit card companies offered me 1.9% in mid 09, at which time my available credit was down to about 50k, so I took about 40K. Oh yeah, my friends and family used to say, if I'm so smart about the markets why don't I have a pot to piss in and live with my mother? I shut them up good and now have 2 pots of my own to piss in.

The ruthless acquisition I made using unsecured debt would make Goldman Sachs proud and without guilt because people like them helped do away with any semblance of moral hazard there may have been left. I bought a foreclosed house near the end of 2009 in Florida for 32K, 1900sf under air built in 2006 and originally sold for 311K that needed very little renovation, with the unsecured cash advances from the credit card companies. I knew I could do it with what I knew about the market but had no access to capitol from family or friends. So far I have been repaying the minimum balance on the cards but if they don't give me a 50k/year job soon, those card payments may stop. Oh well, a bankruptcy may be looming. Foreclosing on a fully paid off homestead in Florida by unsecured creditors is virtually impossible.

My story has many more wonderful details, but I'll leave it at this for now. The moral of the story, don't discount people living in their mother's basements. They can still surprise you.
if u bought ur house on your credit card, you don't loose your house. a credit card is unsecured loan, all they can do is call you every day asking you to repay back and mess your credit score.

EDIT: i just skimmed though ur post, didn't read ur second to last sentence.

Baptist
04-15-2010, 05:28 AM
i was waiting for the housing bubble bust to completely unfold and if necessary do a ruthless acquisition before they had a chance to cut off all my credit, of which i had over 100k originally available, no debt, no job, and no income since 2006. I was living off of a capitol gain i made on a home i sold up north in mid 2004. I lived in my mothers basement waiting for the bust to reach max damage since then, and continued to study the markets on blogs like the housing bubble blog, housing panic, patrick.net, and others. Studying economics for 35 years has been a major hobby of mine the better part of my life. The credit card companies offered me 1.9% in mid 09, at which time my available credit was down to about 50k, so i took about 40k. Oh yeah, my friends and family used to say, if i'm so smart about the markets why don't i have a pot to piss in and live with my mother? I shut them up good and now have 2 pots of my own to piss in.

The ruthless acquisition i made using unsecured debt would make goldman sachs proud and without guilt because people like them helped do away with any semblance of moral hazard there may have been left. I bought a foreclosed house near the end of 2009 in florida for 32k, 1900sf under air built in 2006 and originally sold for 311k that needed very little renovation, with the unsecured cash advances from the credit card companies. I knew i could do it with what i knew about the market but had no access to capitol from family or friends. So far i have been repaying the minimum balance on the cards but if they don't give me a 50k/year job soon, those card payments may stop. Oh well, a bankruptcy may be looming. Foreclosing on a fully paid off homestead in florida by unsecured creditors is virtually impossible.

My story has many more wonderful details, but i'll leave it at this for now. the moral of the story, don't discount people living in their mother's basements. They can still surprise you.


rofl.

michaelwise
04-15-2010, 01:15 PM
I guess you could say this was my plan B, survival mode. My plan A was getting Ron Paul elected President. We would have been 3/4 of the way through a severe recession by now and I would have been today maybe a foreman in a machine shop making bicycle parts or lawn mowers with the repeal of NAFTA and CAFTA. I also didn't see any sense in letting the international banksters getting everything. They and their supporters forced me into survival mode.

peacepotpaul
04-15-2010, 05:22 PM
I was waiting for the housing bubble bust to completely unfold and if necessary do a Ruthless Acquisition before they had a chance to cut off all my credit, of which I had over 100k originally available, no debt, no job, and no income since 2006. I was living off of a capitol gain I made on a home I sold up north in mid 2004. I lived in my mothers basement waiting for the bust to reach max damage since then, and continued to study the markets on blogs like The Housing Bubble Blog, Housing Panic, Patrick.net, and others. Studying economics for 35 years has been a major hobby of mine the better part of my life. The credit card companies offered me 1.9% in mid 09, at which time my available credit was down to about 50k, so I took about 40K. Oh yeah, my friends and family used to say, if I'm so smart about the markets why don't I have a pot to piss in and live with my mother? I shut them up good and now have 2 pots of my own to piss in.

The ruthless acquisition I made using unsecured debt would make Goldman Sachs proud and without guilt because people like them helped do away with any semblance of moral hazard there may have been left. I bought a foreclosed house near the end of 2009 in Florida for 32K, 1900sf under air built in 2006 and originally sold for 311K that needed very little renovation, with the unsecured cash advances from the credit card companies. I knew I could do it with what I knew about the market but had no access to capitol from family or friends. So far I have been repaying the minimum balance on the cards but if they don't give me a 50k/year job soon, those card payments may stop. Oh well, a bankruptcy may be looming. Foreclosing on a fully paid off homestead in Florida by unsecured creditors is virtually impossible.

My story has many more wonderful details, but I'll leave it at this for now. The moral of the story, don't discount people living in their mother's basements. They can still surprise you.

people who diss those who live with their parents are just jealous they don't get spoiled or save money.

Liberty Rebellion
04-15-2010, 05:36 PM
I was waiting for the housing bubble bust to completely unfold and if necessary do a Ruthless Acquisition before they had a chance to cut off all my credit, of which I had over 100k originally available, no debt, no job, and no income since 2006. I was living off of a capitol gain I made on a home I sold up north in mid 2004. I lived in my mothers basement waiting for the bust to reach max damage since then, and continued to study the markets on blogs like The Housing Bubble Blog, Housing Panic, Patrick.net, and others. Studying economics for 35 years has been a major hobby of mine the better part of my life. The credit card companies offered me 1.9% in mid 09, at which time my available credit was down to about 50k, so I took about 40K. Oh yeah, my friends and family used to say, if I'm so smart about the markets why don't I have a pot to piss in and live with my mother? I shut them up good and now have 2 pots of my own to piss in.

The ruthless acquisition I made using unsecured debt would make Goldman Sachs proud and without guilt because people like them helped do away with any semblance of moral hazard there may have been left. I bought a foreclosed house near the end of 2009 in Florida for 32K, 1900sf under air built in 2006 and originally sold for 311K that needed very little renovation, with the unsecured cash advances from the credit card companies. I knew I could do it with what I knew about the market but had no access to capitol from family or friends. So far I have been repaying the minimum balance on the cards but if they don't give me a 50k/year job soon, those card payments may stop. Oh well, a bankruptcy may be looming. Foreclosing on a fully paid off homestead in Florida by unsecured creditors is virtually impossible.

My story has many more wonderful details, but I'll leave it at this for now. The moral of the story, don't discount people living in their mother's basements. They can still surprise you.

I live in my parent's basement. They have a really nice pool. While there for the past 4 years I have paid off almost $40K in debt and now have $5K in a savings account, $7k in checking, an LLC with a commodity broker account with $5K in it and a bunch of stuff I'd never thought I'd own.

I'm looking for a place to rent this weekend, but I wouldn't be where I am today, or where I'll be in the future, w/o deciding 4 years ago that I shuold pay down my debt and live with my parents rather than move out on my own.

best decision of my life :D

peacepotpaul
04-15-2010, 05:37 PM
if u bought ur house on your credit card, you don't loose your house. a credit card is unsecured loan, all they can do is call you every day asking you to repay back and mess your credit score.

EDIT: i just skimmed though ur post, didn't read ur second to last sentence.

which is pretty surprising they allow it.

phill4paul
04-15-2010, 06:00 PM
people who diss those who live with their parents are just jealous they don't get spoiled or save money.

People that don't live with their parents discount the way things were done for centuries.

Families LIVED together. "Good night John Boy?"

The hunt for the ever illusive dream of individual freedom drove children out of their parents home and oft times to other states.

Families suffered in this quest.

Yeah sure maybe we don't want the medieval equivalent of multiple family units sleeping and grunting in the same room but it worked at one time.

Nothing wrong with living with the parental unit as long as it is a shared responsibility. No free rides. All for one and one for all.

LibForestPaul
04-15-2010, 08:37 PM
But what are you doing with the two houses? Florida economy is pretty depressed. renting? or fixing to sell/

michaelwise
04-15-2010, 09:02 PM
But what are you doing with the two houses? Florida economy is pretty depressed. renting? or fixing to sell/The house I now own and live in has 2 bathrooms ergo, two pots to piss in.