Am I Honest Enough.....

BonjourBonsai said:
@sorce , I'm curious why you aren't trying to raise funds to expand your business instead of selling an unsecured note to buy a house? The 235 b nutters would be obvious first round friends and family investors who share the bonsai dream. You could build the business into something that would spin off enough for cash for you to qualify in 2 years. Keep your books tight and right and you'll be there in no time.
Click to expand...

That's just it!

Without this investment I stand the chance of having to put the kiln up.

Of course, that was planned for all along, but this opportunity, combined with not really wanting to change gears, with a bit of, "you can only do it if you try", made me think, "why not?"

I just like to see cool ass shit happen!
Plus, I honestly thought, if a domestic terrorist organization can raise 90million in a year, what the hell is 235k? 😉

I am definitely buying in Cash if this doesn't work!

Sorce
 
Adair M said:
So you are taking a program that is meant to help families who really want, really need a pennant home, and you are going to abuse it to make a profit.

And you accuse ME of only caring about money?

Look, IF this is what you are planning to do, and IF you can aquire this house well below market value, there ARE ways to finance it outside the traditional mortgage route.

There are private real estate investors who will loan money on a handshake (and security dead) if the deal is good enough. They make what are known as “hard money loans”. Yes, the interest rate is expensive. But, they loan strictly based upon the value of the house. Not whether the borrower has any money or credit. Of course, if for some reason you can’t make the payments, they WILL foreclose…

You can find “hard money lenders” at the local Real Estate Investors Association(s). I’m sure Chicago has one. Probably several.

Here’s one:

Click to expand...

I understand this.

But you confuse the shit out of me!

That's why I love it!

Sorce
 
Adair M said:
Oh, yes. I worked. In high school I played tennis. I worked part time jobs taking care of clay tennis courts and had a side hustle of stringing tennis rackets.

In college, I gave tennis lessons.

I had professional career as a data processing consultant. Then started a side hustle of buying, fixing, flipping and renting houses. Also saved some of what I earned, and invested it in the stock market. And let it grow. (There’s that “patience” thing…)

Now I’m retired, and I’m letting my money work for me. I don’t have to work for money anymore. I used to work for money, but since I was patient, I gave it time to grow. Now, it works for me. My house is paid off. My car is, too. My investments make more money each month than I can spend.

But, I guess I’m not as smart as Sorce! I don’t know how to hunt boar in the woods with a spear!

I will drink the occasional Shiner. I actually prefer a glass of red wine! The koi pond is nice…
Click to expand...
This is the American dream. I hope one day to become professionally retired.
 
sorce said:
not really wanting to change gears
Click to expand...
If working on bonsai has taught me anything it's that the only thing we have is changing gears. I embrace change because once there is no more change, there is no more entropy. That's REALLY boring.

PS, I think this is the "sorciest" post I've ever made; and it's made with all due respect and admiration.
 
MrWunderful said:
Im not here to convert anyone. If someone wants to do the same job as me, for less money and no benefits, more power too them.

But you are miss-informed. I cant speak to other trades, but for the IBEW, if you dont know anything, you are an apprentice. Journeymen all make the same amount, are required to have the same training and certification. So I am not sure where the whole “somebody who knows nothing= someone experienced” thing is coming from.

And not sure about mediocrity, we are required to have a certain amount of additional education every year to keep us up to date and at the cutting edge of technology.

I looked up the DC area IBEW local 26, and they make a decent wage and have the majority of the market share (which if true, is rare) and means they are far better than the non-union folks- especially because the wages are much higher.

But then again, this is all from an electrician point of view, if you are another trade the mileage may very. I personally know some really hard working high quality non-union guys who arent paid what they are worth and it pisses me off.
Click to expand...
Fair enough....and respect.

My perspective comes from having trained many technicians who came to us after spending years in a union. They are always the same....like the way a socialist society tries to make everyone the same....the unions actually do it. They feel under appreciated and they hate the constant Dem Party propaganda. Its a money laundering scheme for the Democrat Party.
Not to get political....but this is the truth.
The unions give massive donations and votes to The Party, The Party repays them with huge frivolous contracts, the cycle repeats. This is common knowledge around here....its like old school gangster movie style union boss corruption around here dude.

Also in my opinion, working for a non union, private company, a small business, is much more fulfilling and personally satisfying. If I knew that my "union dues" were funding political campaigns of any kind, I would be upset.....especially because I'd have no say.

Also, non union companies do have benefits....thats some conspiracy theory or something. I'm sure some don't....but thats not on my radar.

I hope that you have continued success in your field my dude. And I'm glad to hear that you guys have some standards out there.
Because the guys they we get from unions are better off looking for work in a Home Depot parking lot.
 
sorce said:
Without this investment I stand the chance of having to put the kiln up.
Click to expand...
I don't understand but I think you want to not let success happen.

I will not invest in you buying a house in the form that you've proposed. The upside is very limited. I may invest in your business venture because there is upside. Capitalism can be harsh but you know what you get.
 
Adair M said:
There are private real estate investors who will loan money on a handshake (and security dead) if the deal is good enough. They make what are known as “hard money loans”. Yes, the interest rate is expensive. But, they loan strictly based upon the value of the house. Not whether the borrower has any money or credit. Of course, if for some reason you can’t make the payments, they WILL foreclose…

You can find “hard money lenders” at the local Real Estate Investors Association(s). I’m sure Chicago has one. Probably several.

Here’s one:

Click to expand...

There are scads of investors looking for hard money borrowers.
For a spell when interest rates were a bit better, I used to buy those mortgages.
Highly liquid.
But expect to pay exorbitant interest.

A great investment if not a great loan for the borrower.

But....they exist.
 
Rafael Najmanovich said:
I bet that with nearly 29K messages and a reaction score over 40K, surely you have a huge collection of remarkable trees are worth at least a quarter of what you're asking.... sell your trees. get a job.
Click to expand...

There is a reason his moniker is "Nonsense Rascal". He just posts a ton.
The number of posts here has no relationship to bonsai experience, or the number and quality of trees people have.
Its simply the number of posts made.
Like many of us around here, his trees are inexpensive nursery and box store material under development.
Not everyone can afford true pre-bonsai material and nursery material gives us a way to enjoy the hobby without breaking the bank.
 
Adair M said:
VTI is good, it has the small caps.

QQQ is more of a “Technology” fund, which has been outperforming the rest of the market. I expect that to continue.
Click to expand...
Sounds like something I should ask our financial advisor about. I have probably 7 years to work to get the most out of my pension but no harm trying to build up more cushion when we are able to retire.
 
Carol 83 said:
Sounds like something I should ask our financial advisor about. I have probably 7 years to work to get the most out of my pension but no harm trying to build up more cushion when we are able to retire.
Click to expand...
Financial Advisors don’t like ETFs because there are no fees!
 
Adair M said:
Financial Advisors don’t like ETFs because there are no fees!
Click to expand...
Still warrants checking out, although we are pretty conservative with our investments. Not to mention one of our vehicles, that we were hoping would last for a few years just blew up.
 
Ugh this is just turning into a boomer thread about investing and retirement haha. I have a normal 401K through work, mostly long term investments , with some high risk , high return...Roth IRA with handpicked stock and some shitcoins. Even though I do have 4 Etherium
 
Shogun610 said:
Ugh this is just turning into a boomer thread about investing and retirement haha. I have a normal 401K through work, mostly long term investments , with some high risk , high return...Roth IRA with handpicked stock and some shitcoins. Even though I do have 4 Etherium
Click to expand...

Ok Boomer 😜
 
Carol 83 said:
Still warrants checking out, although we are pretty conservative with our investments. Not to mention one of our vehicles, that we were hoping would last for a few years just blew up.
Click to expand...
Oh, it definitely bears checking out. I was just going to warn you that the Financial Advisor might discourage it because HE won’t make any money if you invest in it.
 
You must log in or register to reply here.

Similar threads

Jluke33
Honest opinions on dwarf crape Myrtle
Replies
15
Views
2K
Hack Yeah!
Hack Yeah!
E
Honest opinion any potential for this Aamir maple I collected growing between rocks at a private lak
Replies
17
Views
2K
AlainK
AlainK
sorce
  • Locked
Fall Contest 2016... An Honest Balance!
2
Replies
31
Views
9K
RNbonsai
RNbonsai
Taylor Brown
Honest opinion
2
Replies
23
Views
5K
Chris Johnston
Chris Johnston
Cajunrider
Is there still enough time to chop trident?
Replies
15
Views
2K
Cajunrider
Cajunrider
Back
Top Bottom