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photon · 02-12-2009, 01:07 PM

Bad

- Canadian office got shut down, 6 jobs lost. Not really due to the recession though, they did it out of spite to one of the Canadian employees (great company to work for!). So first time in my life I'm without a job not by my own volition.

- One rental property I have is starting to drive me crazy, and looked at the ROI and stuff if I sold it and while the return is not bad, it's not really enough to get me into a new property with equivalent cash flow after costs, so no real good reason to sell it other than it's a headache.

- The one property I did buy near the peak (which was originally for ourselves), I can't sell because the values are lower.. which is fine I'll rent it for now, but still it's annoying.

- Harder to fill vacancies now.

- have to listen to all the whining about how it's the end of the world.

Plus side

- Wife got a better job that pays more $$

- Property values are down, but most of the places I own I didn't buy anywhere near the peak so I'm fine, and they are all cash flow positive. It's more the mental pressure of worrying than real trouble.

- Cost of living going down, more money in my pocket.

- As pointed interest rates are lower so my cash flow is even better with variable mortages/heloc's.

- Able to do contract work for an hourly rate a lot more than what I was making.

- Free time to make the next iFart iPhone application and make a ton of $$ from the goofs who'll spend $1 on that kind of thing.

02-12-2009, 01:07 PM	#38
photon The new goggles also do nothing. Join Date: Oct 2001 Location: Calgary Exp:	Bad - Canadian office got shut down, 6 jobs lost. Not really due to the recession though, they did it out of spite to one of the Canadian employees (great company to work for!). So first time in my life I'm without a job not by my own volition. - One rental property I have is starting to drive me crazy, and looked at the ROI and stuff if I sold it and while the return is not bad, it's not really enough to get me into a new property with equivalent cash flow after costs, so no real good reason to sell it other than it's a headache. - The one property I did buy near the peak (which was originally for ourselves), I can't sell because the values are lower.. which is fine I'll rent it for now, but still it's annoying. - Harder to fill vacancies now. - have to listen to all the whining about how it's the end of the world. Plus side - Wife got a better job that pays more $$ - Property values are down, but most of the places I own I didn't buy anywhere near the peak so I'm fine, and they are all cash flow positive. It's more the mental pressure of worrying than real trouble. - Cost of living going down, more money in my pocket. - As pointed interest rates are lower so my cash flow is even better with variable mortages/heloc's. - Able to do contract work for an hourly rate a lot more than what I was making. - Free time to make the next iFart iPhone application and make a ton of $$ from the goofs who'll spend $1 on that kind of thing. __________________ Uncertainty is an uncomfortable position. But certainty is an absurd one.